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An online platform to motivate anyone during physical rehab and connect them to healthcare professionals

wesley_fogel

“My own experience with knee surgery was daunting and lonely. I kept forgetting how to do my exercises, quickly lost motivation, and didn’t have anyone like me to share the experience. I started On The Mend to help people take control of their health condition.”

CEO and Co-Founder Wesley Fogel

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Business Overview

Location London, United Kingdom
Social Media
Website www.onthemend.com
Sectors Healthcare Digital B2B
Company Number 10758082
Incorporation Date 8 May 2017

 

Investment Summary

Type Equity
Valuation (pre-money)  £4M
Equity Offered 20%
Share Price Healthcare, digital, B2B
Company Number 10758082
   

 

Business Highlights

  • Piloting with NHS Integrated Care System in the UK.
  • Partnering with US healthcare professional on pathbreaking research with spine surgery patients.
  • Innovate UK funding to build first rehab rewards platform.
  • Participating in UK market worth £5bn and $160bn in the US.

Key Features

  • See Legals nominee min. £13.45
  • Direct investment min. £5,000.00

wesley_fogel

Wesley Fogel
Co-founder & CEO
Current ownership (pre-investment): 32%

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Dr. Arash Aframian
Co-founder & Chief Medical Officer
Current ownership (pre-investment): 19%

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Ralph Stenzel
Co-founder & Chief Technology Officer
Current ownership (pre-investment): 3%

EIS Tax Relief:

We have already used our full SEIS allocation, making this entire round EIS eligible for any UK-based investors.

Material Debt:

The company has the following outstanding loans:

1. £55,272 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 $14,840 (USD). Under the terms of the Service Agreement, 45% of the invoice is paid in cash by the business (monthly), and 55% is compensated by way of share issuance to Technorely. 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 April 2023 has been factored into the pre-money figures in this funding round. 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 once commercial traction is established.

Please register to access our Data Room on Seed Legals here.

 

Please send any questions to info@onthemend.com. We look forward to hearing from you.

Watch this space! 👀
Find out more

Physical rehabilitation is daunting. We’re on a mission to transform it for everyone.

1 in 4 of the world population

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. 

Faces 1 in 4
32% reduction

32% cost reduction

The NHS spends almost £5 billion each year treating people with musculoskeletal disorders with orthopaedics accounting for the biggest single category of elective surgery wait 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%.

product

A digital platform ready to deploy at scale

Our cloud-based platform will transform the rehabilitation journey for everyone involved.

For patients, we make it easier to stay active and engaged with their prescribed treatment plan through our motivating mobile app experience, ensuring they stay connected with healthcare professionals, and better supported to achieve their goals.

For busy healthcare professionals, our platform saves time in managing their caseload, track patients’ progress and collaborate more effectively with colleagues.

Traction

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Built a digital platform

Our mobile application for patients and web portal for healthcare professionals is built around a scalable architecture that is ready for widespread adoption in the UK and a growing number of international markets, starting with the US and Germany.

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Regulatory compliance

A strong security posture is supported by compliance with HIPAA, Cyber Essentials,  NHS Data Security & Protection Toolkit, Digital Technology Assessment Criteria (DTAC) and GDPR, allowing us to operate with confidence of patients and healthcare professionals within hospital and community care settings.

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Uniquely co-founded

We are uniquely co-founded by a team that comprises patient, surgeon and physiotherapist, representing all sides of the global challenge we are addressing. Our team has grown to include design, product, technology and commercial expertise needed to support our ambitous expansion plans.

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Strong advisory board
Our board benefits from the perspectives of seasoned healthcare and technology executives who advise on team building, route-to-market, and commercialisation strategies.
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Founders Factory Portfolio
Accepted into the Aviva Insurance-backed Founders Factory accelerator programme, benefiting from the support of experience tech entrepreneurs including Brent Hoberman and Henry Lane-Fox.
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Support across industry
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.
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Successful fundraise
We have previously raised £625,000 from angel investors, venture studio Founders Factory, and Innovate UK. These funds have enabled team-building, regulatory compliance and product development.
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Pilot study agreed
We are proud to be piloted with the Buckinghamshire, Oxfordshire, and Berkshire West Integrated Care System, to help tackle the elective surgery backlog and optimise rehabilitation as well as physiotherapy treatment after surgeries like total knee replacement.
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US healthcare opportunity
We have also started working with Dr. Brenton Pennicooke, a distinguished neurosurgeon and complex spine specialist from Washington University Physicians. This pathbreaking study will allow us to enhance rehabilitation and physical therapy care post spine fusion surgery, opening the door to a $200b+ market.

Adding value through the chain of healthcare.

We are paid on a per-patient basis for improving clinic productivity, growing capacity, enabling better connection across providers in the system, delighting patients and healthcare professionals, and supporting digital transformation.

Building on the traction we have achieved in the UK, we will quickly expand overseas and explore opportunities to partner within the US healthcare system. Private health insurers, medical device manufacturers, and employers will benefit from system-wide support through the life course

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Find out more

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

Any investment decision should be made on the basis of the full information that is available by signing up for an account with Seed Legals to request access to our Data Room. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.