Strathclyde Pension Fund (SPF), which manages the retirement savings of staff at Glasgow City Council and neighbouring local authorities in the west of Scotland, has agreed a £20m investment in companies developing innovative diagnostic, treatment or monitoring technologies for the healthcare industry.
The deal is expected to see US firms either relocate or open new bases in the UK, with a particular focus on Scotland and the Glasgow area.
SPF approved the £20m investment in the Par Equity HealthTech Fund at a committee meeting earlier this week.
The fund is expected to raise up to £150m to invest in start-up health technology companies in the UK and US, with a target 20 per cent return.
Par Equity already has substantial experience in the science, medical, engineering and commercial sectors, including a partnership with the University of Strathclyde’s Institute of Medical Devices.
Read more HERE.
The Par Equity HealthTech Fund has a distinct technology and business model focus. The Fund will invest in medical grade digital technologies with clinical validation in target patient groups. The aim is to provide improved outcomes and lower cost care pathways in the treatment of chronic disorders and build HealthTech businesses that have high value assets in proprietary technology, intellectual property, and regulatory approval.
Read more HERE.
