News / Tech
£2.2m secured for Easton company’s cutting-edge pharmacy software
The pandemic has highlighted the shortcomings of existing pharmacy systems, according to an entrepreneur with a “cutting-edge” solution.
Tariq Muhammad, CEO of Invatech Health, says a recent funding boost of £900,000 will help accelerate work on innovative tech solutions designed to help independent pharmacy businesses and large scale operators alike.
The money from Innovate UK builds on an initial loan for the development of Titan, a cloud-based operating system that digitises the entire workflow within pharmacies and makes medicine dispensing safer using barcode technology.
It brings the total secured to £2.2m and will enable the Stapleton Road-based firm to enter a new growth phase and will support rapid development of new features for the platform, including apps to help address the immediate challenges that pharmacies are facing as a result of Covid-19 and provide innovative solutions to support their businesses and their patients in the long-term.
“The pandemic has put pharmacies under significant pressure and there is a need for technology that can help them cope with greater volume of work, as well as releasing pharmacists time to spend on front line healthcare,” explains Tariq.
“This latest award from Innovate UK, for which we are extremely grateful, will enable us to develop features that have never been seen before in our sector, opening up new opportunities for pharmacists.”
He adds: “This crisis has highlighted the incapacity of legacy systems to scale up and adapt to dynamic situations, in many business sectors.
“With this additional support, we plan to develop a wide range of new game-changing apps, delivered as extensions on the Titan platform. These will help address the new and immediate challenges that pharmacies are facing as a result of Covid-19 and provide innovative solutions to support their businesses and their patients in the long term.”
Titan became the first pharmacy Patient Medication Record (PMR) to become accredited by the NHS for 15 years in 2019. The technology has gone on to take two per cent market share, processing more than 1.5 million prescriptions per month across numerous customer sites in England and Wales.
The Innovate UK funding complements other grants awarded during the coronavirus pandemic to support remote working for independent pharmacists.
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