nnovative Health Screening Company Receives £1/4m Funding from the Liverpool Seed Fund

3rd October 2007

A company that has developed an innovative health screening service has been backed to the tune of £1/4m by Merseyside Special Investment Fund’s Liverpool Seed Fund.

Gemini Biomedical Limited has created a pharmacy-based integrated medical screening service called HealthTrack to assess individuals applying for life cover and private health insurance policies.

Trained healthcare assistants collect basic information such as weight, height and blood pressure and use a new oral swab test to collect a blood derived fluid found in the gums. This technology replaces the traditional blood test and can detect a variety of conditions including HIV and hepatitis. It can also confirm an applicant’s drinking, smoking and drug taking habits.

The information is then entered into a web-based database platform and can be viewed immediately by the insurance company. Where laboratory results are required these are automatically fed into the system updating the report.

The Liverpool Seed Fund has injected £250k into the business to fund bringing the service to market in the UK. Trials in Dublin have already been successful and the service will shortly be available across the rest of Ireland. The company has been supported throughout the funding process by Liverpool Ventures.

Gemini was set up in 2004 by Managing Director Paul Hunter who runs the business with co directors Nigel Bradshaw and Gill Corkish. The company has recently relocated from premises in Runcorn to Merseybio.

Mr Hunter said: “Most insurance companies in the UK currently use doctors or nurses to carry out health screening which can be slow, expensive and inconvenient. We can reduce the time taken to obtain this medical information by from weeks to days and cut the cost”.

“We are also developing the mouth swab test further to increase its sensitivity and expand the range of tests that can be performed. If successful this could provide non invasive tests for illnesses such as diabetes, cancer and heart disease.

“The backing from the Liverpool Seed Fund means we now have the money to market the service in the UK and we are currently working with three leading pharmacies with a view to rolling out the HealthTrack service here.”

Darren Gowling, investment director of the Liverpool Seed Fund said: “Gemini has developed a cost effective, accurate and efficient alternative to conventional screening procedures and we believe there are additional markets that could also use this service. The business has excellent commercial potential.”

Lorna Green, business consultant with Liverpool Ventures said: “Gemini has already received plenty of interest in both its screening service and development of the oral sample technology. The directors’ individual skills are complementary and they are experienced in the medical and insurance sectors. We look forward to continuing to work closely with the team at Gemini through the next phase in the company’s development.” Corporate finance advice was provided by Acorn Capital Partners.

Legal advisors involved in the transaction were Kate Richards Halliwells (Gemini) Andrew O’Mahony from Brabners Chaffe Street (Liverpool Seed Fund).

Ends

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Photo shows L-R Paul Hunter and Christian Zuniga (Gemini) Lorna Green (Liverpool Ventures) Darren Gowling and Rajesh Sharma (Liverpool Seed Fund)

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