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20 November 2012

The North West Fund for Biomedical invests £50,000 in technology to improve independent living

Press Release 20th November 2012

A company which has developed an innovative way to improve the living environment of elderly or disabled people has secured a £50,000 investment from The North West Fund for Biomedical.

iCare Technology, based at Liverpool Innovation Park, received the Pathfinder investment from the fund, managed by SPARK Impact.

The investment will be used to further develop its Mylinqs eco system, which aims to improve the quality of assisted independent living for people with reduced mobility, allowing them to live at home for longer.

Mylinqs works by connecting a wireless, big button touch keyboard to a television set to provide new communication services, care monitoring and health and wellbeing services.

The North West Fund for Biomedical is a sub-fund of the £155m evergreen North West Fund that is jointly financed by the European Regional Development Fund and the European Investment Bank.

Medwyn Jones, CEO of iCare, said: "Allowing older or disabled people to extend their time living at home is a crucial central government initiative which our technology aims to support.

"The investment from SPARK Impact will enable us to pursue a number of existing opportunities in the health and wellbeing sector while also strengthening our core proposition and extending our partner relationships."

Dr Penny Attridge, senior investment director at SPARK Impact and manager of The North West Fund for Biomedical, said: "The iCare technology could be a real breakthrough for assisted independent living, transforming the quality of life for thousands of people. We are pleased to support their efforts and look forward to helping Mylinqs reach the market."

iCare is The North West Fund for Biomedical's 35th investment to date.


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