On The Mend
An online platform to motivate anyone during physical rehab and connect them to healthcare professionals.
- Tech platform designed by a patient, surgeon & physiotherapist
- Accepted into Aviva-backed Founders Factory accelerator program
- Product built and ready to launch initial pilots in the UK
- Participating in a UK market worth £5bn and $160bn in the US
Physical rehabilitation is daunting. We’re on a mission to transform it for everyone.
On The Mend is a platform that enables the delivery of a tailored physical rehabilitation plan for anyone suffering a problem with their tendons, muscles, bones or joints – something that affects 1 in 4 of the world’s population annually.
The NHS spends almost £5bn each year treating people with such conditions and orthopaedics now account for the biggest single category of elective surgery waiting lists. To make matters worse, one out of two people aren't following through with their home rehab, wasting a lot of precious healthcare resources.
The good news is that studies show how simply putting a greater emphasis on self-care can reduce the cost of physiotherapy treatment by up to 32%.
We have built an online platform which aims to transform the rehabilitation journey for everyone involved. For patients, we make it easier for them to stay active and engaged with their prescribed treatment plan through our mobile app, keeping them connected with healthcare professionals, and creating better outcomes for their rehab journey. For surgeons and physiotherapists, our platform aims to make it easier for them to manage their caseload, track their patients’ progress and collaborate more effectively with colleagues.
Our mobile application and web portal has been built, and is now ready to deploy in initial pilot programmes.
Substantial accomplishments to date
We have achieved significant traction over the past two years:
- Built a mobile application for patients and web portal for healthcare professionals that is ready to deploy across the UK and designed for rapid scale overseas.
- Compliance with industry standard regulations ISO 27001, GDPR, Cyber Essentials, and NHS Data Security & Protection Toolkit, required to operate in most UK hospital and community care settings.
- Built a team which represents all sides of the problem we’re addressing. Our co-founders include a patient, surgeon and physiotherapist.
- Added two seasoned healthcare industry executives to advise our board on team building, route-to-market, and commercialisation strategies.
- Accepted into the Aviva Insurance-backed Founders Factory accelerator programme, which is also a shareholder.
- Invited to present to multinational insurance executives at GenRe’s headquarters, reflecting the need for the innovative technology solution our team is bringing to the global healthcare industry.
- Successfully raised £142,000 at a pre-money valuation of £1,750,000 to fund the build of our platform, regulatory compliance, legal and operational costs.
- Starting the process of planning our first pilot study with a large London-based physiotherapy clinic.
- Strong interest from a US customer following previous overseas visits.
We target our earliest paying customers to be those closest to the delivery of care: private surgeon groups, physiotherapy clinics, specialist orthopaedic centres or NHS hospitals/Trusts.
Our goal is to be paid by healthcare providers based on the number of active patient users in return for improving clinic productivity, enabling better connection with other providers in the system, creating a differentiated product offering and supporting digital transformation initiatives.
Once we establish a strong product-market fit with providers across the UK, US and elsewhere, we will start to target private health insurers, NHS Integrated Care Systems and medical device manufacturers, which stand to benefit from system-wide improvements.
Our objective is for these healthcare players to pay us for delivering seamless data flow through the healthcare system, a differentiated product offering, helping attract new private patients and improving state run efficiency to drive greater long-term capacity.
Use of proceeds
We have used our previous funding round to support product development, regulatory compliance and marketing including two trips to the US for early talks with a regional healthcare provider.
Building on the traction we have achieved to date, we are looking to raise £250,000 to secure and support early pilots with orthopaedic brands and to market the business in the UK where we will focus our efforts over the next 12 months.
A third of this funding will go towards the people, technology and regulatory costs associated with supporting all aspects of product maintenance and improvement, as part of the feedback we will be receiving from our pilots.
The remaining two-thirds of the budget will go towards supporting our pilots, marketing and other operational costs.
Beyond any early traction we achieve in the UK, we will start to re-engage overseas customers, including in the US.
SEIS / EIS Tax Relief:
Please note that the company has £140,000 left of their SEIS allocation. £113,363 of the investment reflected in the campaign is not eligible for SEIS, so investment up to £253,363 in this round will be SEIS eligible and will be offered to investors on a first come first serve basis. The investment made after £253,363 has been reached will be EIS eligible.
The company has the following outstanding loans:
1. £40,272 non-interest bearing loan from Wesley Fogel, Founder and Director of the company with no repayment date. The loan is to be repaid upon any of the following conditions being satisfied:
- The company raises cumulative EIS-eligible fundraising in excess of £12M.
- The company achieves £1M in annual revenue in a one year period.
- An exit event by investor majority.
- Wesley Fogel's departure from the company.
The funds raised from this investment round will not be used to repay these loans.
Shares for Services:
The company has a Shares for Services agreement in place with Technorely, a software development company. The services provided by Technorely to the company are ongoing and are charged on a monthly basis to cover the support and development of the platform.
The total monthly fee amounts to $13,210 (USD). Under the terms of the Service Agreement, 50% of the invoice is paid in cash by the business (monthly), and 50% is compensated by way of share issuance to Technorely (quarterly). The share price used in calculating the issuance of shares is based on the share price of the most recent funding round.
Share issuance to Technorely up until August 2021 has been factored into the pre-money figures in this campaign. This arrangement remains under constant review and the agreement can be terminated at any time with a 30-day notice period. The company plans to grow an in-house technology team once it is in a position to support such expansion. Based on their current business plan, the company will start to transition to this arrangement from Year 2 onwards.
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