Irish medtech Full Health Medical raises €3m led by Elkstone

Dublin-based medtech company Full Health Medical has secured €3 million in funding led by Elkstone, with support from Enterprise Ireland and strategic angel investors. The round will aid the business in expanding its operations beyond Ireland and the UK, where its platform has processed over 500,000 medical screenings.

Founded in 2011, Full Health Medical's platform manages health screening logistics and automates clinical interpretation of results using consultant-authored algorithms. This enables the platform to reduce manual review time for doctors and produce health reports in plain language for patients to better understand their results. The company's technology is currently used by Medmark, a provider of occupational health services.

The funding will also help Full Health Medical to complete its next-generation platform and pursue medical device certification. The start-up was established by Dr Ann Shortt, an emergency medicine consultant, and Paul McCarthy, and is currently led by Dermot Shortt, former Finbourne Technology co-founder, as CEO, and Rizwan Saeed, chief technology officer.

Ann Shortt highlighted the growing pressure on healthcare systems, emphasizing the need for a shift towards prevention by empowering individuals with the tools to understand their health data.

Dermot Shortt, CEO, further explained that although wearable devices and home test kits are providing valuable health data, clinicians remain essential for interpreting this information. Full Health Medical's platform addresses the challenge of scaling clinician expertise across large populations without incurring high costs. Elkstone's co-founder, Alan Merriman, praised the company's platform for rigorously governing clinical expertise while ensuring scalability, citing the platform's ability to process half a million medical screenings to date and its existing partnerships with Ireland's largest population health programs and emerging international traction.