Livingbridge has invested in the clinical consulting business Four Eyes Insight and will work with the founders to accelerate growth over the next few years. The investment was made from the Livingbridge Enterprise 2 fund.
Four Eyes Insight was founded in 2013 by Dr Henry Carleton and Brian Wells. Leveraging the founders’ clinical experience, the business helps acute NHS trusts across the country identify and implement efficiency and performance improvement projects.
The business’s services are in high demand due to the significant funding pressure placed on NHS England. A requirement to find £22bn of annualised efficiency savings by 2020/21 is necessary to overcome the impending funding shortfall. Nearly 60% of the NHS’s budget is directed to acute trusts and as a consequence they are experiencing the greatest share of efficiency saving pressures. Four Eyes Insight’s clinical productivity consulting assists trusts in realising savings.
Drawing on the team’s clinical expertise, the business is able to bring to bear market leading modelling and workflow management techniques for trusts such as The Princess Alexandra Hospital Trust, Croydon Health Services Trust and Central Manchester University Hospitals Trust. In each case Four Eyes Insight have helped these trusts and others to achieve tangible improvements in clinical efficiency and reduced patient waiting times.
Four Eyes Insight has worked with more than thirty NHS acute trusts over the last three years and on each occasion has been able to demonstrate lasting productivity improvements which are highly valued by trust management and the regulator, NHSI.
The investment from Livingbridge will see Four Eyes Insight be able to invest further in internal processes and infrastructure and add additional senior talent with a longer term goal to grow the business’s total headcount from approximately thirty to sixty by 2018. There are also plans for further investment in proprietary software and the development of additional services for the NHS.
Following the investment Pete Clarke and Louise Kingston from Livingbridge will join the board.
Dr Henry Carleton, co-founder and CEO at Four Eyes Insight, commented: “Since our inception just over three years ago, we have worked hard to establish ourselves as a key partner for the Trusts we work with, turning medical productivity plans into an operational reality and helping them to achieve significant efficiency gains and cost savings. Growing our team will now be a primary focus for the business and we are actively recruiting across all areas of the firm as we look to build on the strong momentum we have generated to date.”
Pete Clarke, Partner at Livingbridge said: “Livingbridge has a track record of working successfully with consultancy businesses and companies working with the NHS so Four Eyes Insight is in our sweetspot. We are very excited about working with such a passionate and well respected management team and see significant growth potential for the business. We will look to invest further in the products, services and software solutions for the NHS, given the constrained funding backdrop and the great work that the team do to help NHS Trusts ‘achieve more with less’”