London, England

FirstCapital is pleased to announce that it has advised Patients Know Best (PKB), the world’s largest Personal Health Record (PHR) platform, on a strategic investment from DNV.

Established in 2008, Patients Know Best (PKB) is the world’s largest Personal Health Record (PHR) platform, used by over 25% of NHS England’s providers. It was the first PHR to be integrated into the NHS App, and currently hosts records of 20 million UK patients, with over 5.6 million registered patients. Its platform is also deployed internationally in Germany, the Netherlands and Nigeria. PKB’s platform empowers patients to take a more active role in their healthcare, with 24% of patients logging in at least once a month and 10% at least once a week.

Headquartered in Norway and founded in 1864, DNV is a major global independent assurance and risk management provider. It operates in more than 100 countries with businesses across diverse industries, including maritime, energy systems and healthcare, and is a leading provider of digital solutions for managing risk and improving safety and asset performance. The company’s growing healthcare business focuses on helping organizations deliver high-quality, person-centred care through accreditation, certification, and digital solutions.

DNV’s investment in PKB is a strategic partnership between two businesses with shared values and ambitions. It will support PKB’s growth through further global expansion, alongside continuing the scale-up in the UK and accelerating new opportunities, leveraging PKB’s population health management engine.

Dr. Mohammad Al-Ubaydli, CEO and Founder of Patients Know Best said “We are thrilled to welcome DNV as a true partner. This is a strategic alignment with a Foundation that believes in our mission and with which we share great synergies. DNV’s global reach, well-connected network, and ethical alignment with our status as a social enterprise are exactly what we were looking for in a partner. I’m also extremely grateful to the team at FirstCapital, led by Co-Founder and Chairman Hazel Moore, for advising us on this transaction – their support has been invaluable.”

Stephen McAdam, DNV’s Segment Director for Digital Health who will join the PKB board said “DNV has long-term strategic ambitions in healthcare. Within digital health, we are committed to building a strong portfolio of investments that help tackle the critical challenges of data security, data quality and data sharing. We have followed PKB’s progress for several years and are convinced that their approach of empowering patients will not only contribute to improving data quality and data sharing, but also to enhancing healthcare efficiency and achieving better outcomes for patients.”

Hazel Moore, chair of FirstCapital said “We are absolutely delighted to have supported PKB in this transaction. This is truly a win-win deal, where there is a great fit, both commercially, strategically and culturally, between both parties. We’re very excited for PKB as it embarks on the next phase of growth and wish the team every success.”

About FirstCapital

FirstCapital is an investment bank providing smarter dealmaking advice to high growth technology companies in Europe. With offices in London and Silicon Valley, we advise software, internet and digital media and tech-enabled services companies on strategic M&A, private equity and growth capital funding transactions. See www.firstcapital.co.uk for more details.