BDB Pitmans advises on AIM admission of healthtech provider Trellus Health Plc
BDB Pitmans has advised new client, Trellus Health Plc (Trellus or the Company), on its admission to trading on AIM. The Fundraising was regarded as a significant success, oversubscribed across all components, and culminated in gross proceeds of £28.5 million. The company was valued at approximately £64.6 million at the time of admission on 28 May 2021.
Trellus is commercialising a resilience-based, connected health solution for chronic condition management, named GRITT™ (Gaining Resilience Through Transitions). Initially the health care solution will be used for Inflammatory Bowel Disease, with the aim for it to be applied across many other chronic conditions.
The net proceeds of the Fundraising is intended to go towards initiatives such as the enhancement of the TrellusElevate™ platform, including developing the conversational artificial intelligence technology in managing and providing support to patients, and for research and academic collaboration purposes and geographic expansion purposes.
Nick McCarthy, Corporate Partner at BDB Pitmans, who led the team on the admission, remarks:
Chronic health problems contribute significantly to national healthcare expenditure and it is therefore critical to support the development of resilience-driven connected care solutions.
We are pleased to have worked with Trellus on its admission to the AIM market to further its mission to deliver quality, expert-driven, personalised care for people with chronic conditions. We look forward to seeing how the company grows to meet this global need.