Praetura Ventures successfully spearheads Patchwork Health's £3M funding round

February 17, 2020
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Praetura Ventures has led the recent funding round for Patchwork to completion, securing £3 million for the healthcare startup aiming to close the NHS staffing crisis gap with flex workers.

The round included additional backing from BMJ, the publisher behind The BMJ, and some existing angel investors.

Patchwork, which has offices in London, Manchester and Liverpool, was founded by NHS doctors Anas Nader and Jing Ouyang in 2016 to help hospitals fill vacant shifts more cost-effectively and to stem the tide of clinicians leaving the health service due to poor work-life balance.

Healthcare staffing is a growing and costly problem for the NHS; the number of staff quitting over long hours tripled between 2012 and 2018, and the NHS spent £2.4bn on staffing agencies in 2018 to fill the gaps.

Patchwork’s technology focuses on transforming the power of NHS Trusts to recruit temporary staff, cutting out the expensive agency middle man. Through tailored portals for NHS Trusts and a simple, hassle-free app for clinicians, Patchwork is able to dramatically drive up the number of clinicians booking shifts directly with their hospital. As a result, NHS Trusts keep their hiring in-house; saving millions in agency fees whilst ensuring wards are safely staffed. Plus, clinicians looking for more flexibility are able to take on shifts that suit them, improving retention and staff satisfaction, without creating a financial burden for their hospitals.

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February 17, 2020

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