Visionable EIS – existing investors only

Close to capacity. Applications processed on a first-come, first-served basis

This EIS offer is arranged by West Hill Capital, a respected private equity and venture capital firm, with which we have collaborated in the past. 

It's an opportunity to make a further investment in Visionable, which has developed what it believes to be the first video collaboration platform for healthcare. 

Please read the offer documents carefully to form your own view and ensure you wholly understand the potential benefits and risks.

As at 19 May, West Hill Capital has informed us that £4 million has been raised already, leaving £1 million EIS capacity. Applications will be accepted on a first come, first served basis until Thursday 28 May.

The quickest way to apply is online. The minimum investment for Wealth Club investors is £17,500 (normally £50,001). 

Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value, so you could get back less than you invest.

Read important documents and apply

The summary reproduced below is from West Hill Capital. It doesn't reflect the views of Wealth Club. We have not reviewed its content. You should read it alongside the Private Placement Memorandum and form your own view as an experienced investor. Please remember there are no guarantees. This is an illiquid and high-risk speculative investment: capital is at risk. 

West Hill Capital’s offer overview

“West Hill is delighted to offer investors the opportunity to participate in a £6 million equity funding round (of which approximately £5 million eligible for EIS) for a company which is at the forefront of a revolution in the provision of healthcare services and whose products are in extreme demand as a result of the current coronavirus pandemic.

In both our professional and social lives, COVID-19 has necessitated an accelerated transition from physical to digital. Whilst many industries can carry on through remote working arrangements, many sectors are under severe pressure and lack the appropriate tools for the current environment. One of the most severely impacted sectors, both in the UK and globally, is healthcare services, and West Hill’s portfolio company, Visionable, is at the forefront of providing a digital revolution for both healthcare professionals and their patients alike.

Co-founded by Lord Victor Adebowale and former NHS manager Alan Lowe, Visionable enables the redesign of healthcare allowing experts to be brought to patients, anywhere, anytime and collaborate on a single platform. It connects clinicians to clinicians and clinicians to patients using powerful video and native resolution medical imagery that allows healthcare interventions without the patient or medics leaving their home or office. It is able to provide an instant, interactive video collaboration experience by integrating its Video API within most existing health mobile, web or desktop applications and is now in use with over 100 NHS organisations.

Directly and through channel partnerships with Amazon, Verizon, O2 and EY, Visionable is helping tackle the remote treatment of patients across the spectrum of the healthcare services including stroke networks, multi-disciplinary team meetings, triage, outpatient clinics, social care, mental health services and many more. In collaboration with O2, Visionable is developing 5G-enabled connected “smart ambulances” which will see treatments made available to patients which can potentially avoid admissions to A&E. Visionable’s reputation as the leading health provider of video within the NHS has created international demand. As a result of this, Verizon has recently invested into Visionable’s state of the art 5G connected command centre in Kent, which the Company anticipates will have the ability to connect patients with the appropriate clinical resources from around the UK.  

The Company owns 29 patents covering its technology, some of the benefits of which are:

  • Unique streaming technology for independent audio and visual streams
  • Software solution that can be deployed within minutes to any customer worldwide
  • Simple and secure solution that is network and hardware agnostic
  • Unlimited number of participants, camera feeds and data feeds
  • Unique data transfer functionality allowing data feeds to be viewed in native resolution

In addition to medical applications, Visionable is used for distance learning by both Oxford and Cambridge universities, as well as fashion businesses such as ASOS who use the platform to create virtual fitting rooms. In partnership with O2 and The Sussex & Surrey Police, Visionable also provides its platform to victims of domestic abuse. The Company is now in discussions with Boots to provide digital pharmacy services expected to commence later this year.

The combined market in which Visionable operates is expected to be worth $130 billion by 2025. Whilst some of the largest companies operating in the video communications sector, such as Zoom, have experienced exponential growth in recent years, the Directors believe that Visionable’s technology platform is technically superior in terms of its collaborative functionality and goes beyond the boundaries of standard video conferencing. Visionable has the very real potential, should it carry on its impressive growth rate, to reach a £1 billion+ valuation in the coming years, with many incumbent competitors with inferior technology already surpassing this number many times over.

As of 31 March 2020, the Company had £5.2 million of cash on its balance sheet with forecasted sales this year of £5.7 million rising to £27 million next year. The proceeds of this £6 million raise (of which approximately £5 million eligible for EIS), together with profits and current cash will be used to aggressively expand its team in the UK & US and further bolster their international operations across North America and Asia, as well as further develop their proprietary technology for uses in other verticals.

There are numerous potential acquirers of Visionable. When considering the existing commercial relationships in place with Verizon and Telefonica (O2), it is possible that a trade sale could occur as a result of this ahead of any potential IPO. The communications software sector has unsurprisingly been outperforming the wider market of late with Verizon making moves in the sector, having recently acquired one of Visionable’s indirect competitors, BlueJeans, for c$500million. 

The previous West Hill led EIS funding round was oversubscribed raising a total of £8.4million and we anticipate significant investor demand in the current round. There is a maximum EIS capacity of approximately £5 million, and applications will be accepted on a first come, first served basis up until 28 May. The Offer will close upon £6 million being raised.

Please watch the video below on how the Company’s technology is currently transforming healthcare.”


Fees and charges

Investors are investing in the Company directly so will pay no direct initial or ongoing charges. West Hill will pay an introducer fee of 4% to Wealth Club. 

Risks – important

This, like all investments available through Wealth Club, is only for experienced investors happy to make their own investment decisions without advice.

EIS / SEIS investments are high-risk so should only form part of a balanced portfolio and you should not invest money you cannot afford to lose. They also tend to be illiquid and hard to sell and value. Before you invest, please carefully read the Risks and Commitments and the offer documents to ensure you fully understand the risks. 

Tax rules can change and benefits depend on circumstances.

This is a single private company EIS offer with no diversification. It involves investing in an early-stage business which is by nature high risk and prone to failure. 

Read important documents and apply

Wealth Club aims to make it easier for experienced investors to find information on – and apply for – tax-efficient investments. You should base your investment decision on the provider's documents and ensure you have read and fully understand them before investing. This review is a marketing communication. It is not advice or a personal or research recommendation to buy the investment mentioned. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.

The details

Type
Single company
Sector
Healthcare & Technology
Target return
-
Funds raised / sought
£4.0 million / £5.0 million
Minimum investment
£17,500
Deadline
Close to capacity
Last updated: 18 May 2020

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