Highlights

  • Wanda Connected Health completed a GBP 0.86 million fundraising combining equity and debt.
  • EMV Capital’s equity interest in Wanda increased in fair value after the transaction.
  • US commercial activity expanded across health plans, employers, and pharmacy benefit managers.

EMV Capital plc (LSE:EMVC) reported that its portfolio company, Wanda Connected Health Systems Limited, closed a GBP 0.86 million fundraising following recent commercial developments. The transaction was led and syndicated by EMV Capital Partners Limited, the Group’s wholly owned venture capital and corporate finance subsidiary, with Wanda also supported through EMV Capital’s Venture Build programme.

The fundraising included GBP 0.60 million raised through equity investment and GBP 0.26 million provided via a loan facility. Separately, warrants over shares valued at GBP 0.60 million were exercised. The funds are allocated toward scaling operations with key customers in the US, advancing product development, and implementing Wanda’s commercial strategy. The capital is also intended to support operational execution as demand for chronic disease management alternatives increases within the US healthcare market.

Impact on EMV Capital holdings
Following completion of the fundraising, EMV Capital’s total equity holding in Wanda stands at 16.5% on a fully diluted basis, excluding convertible loan arrangements. This holding corresponds to a post-investment fair value of approximately GBP 1.7 million, compared with GBP 1.5 million at 30 June 2025.

In addition, introductions facilitated by EMV Capital Partners resulted in third-party assets under management representing 29.6% of Wanda’s share capital. These third-party holdings equate to a post-investment fair value of about GBP 3.1 million, up from GBP 2.1 million at the end of June 2025. The percentage interests are calculated on a fully diluted basis, excluding convertible loan structures.

Commercial activity and platform developments
During 2025, Wanda reported increased engagement from US health plans, employers, and pharmacy benefit managers seeking to address cardiometabolic disease management and GLP-1 medication use. Over the year, the company launched a GLP-1 weight-management programme, released an updated cardiometabolic mobile application, and deployed its Insights Engine. This analytics and AI layer integrates platform, device, and coaching data to generate actionable insights.

The company secured multi-million-USD contracts after competing with larger industry participants and reported sustained double-digit month-on-month growth. Wanda indicated expectations to exceed USD 5 million in annual recurring revenue by the end of 2026.

Market context and governance update
Wanda operates within the remote patient monitoring and virtual care segment, which addresses chronic conditions accounting for a substantial share of US healthcare spending. GLP-1 medications represent a rapidly growing drug category, with average costs exceeding USD 10,000 per member annually. The global remote patient monitoring market is forecast to reach around USD 110.7 billion by 2033, according to Grand View Research.

Share Price Snapshot
EMVC was trading 1.70% lower at GBX 58.00 per share as of 10 December 2025.