TIDMPIRI
Pires Investments PLC
08 December 2021
8 December 2021
Pires Investments plc
("Pires" or the "Company")
Nova Leah closes investment round led by major US healthcare
provider Northwell Health
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on Nova Leah, a leading IoT cybersecurity firm for connected
medical devices, in which Pires is invested through its investment
in Sure Valley Ventures ("SVV").
Nova Leah has announced the closing of its seed investment round
led by Northwell Holdings & Ventures, the for-profit venture
investment arm of Northwell Health, New York State's largest
healthcare provider. The investment includes additional funding
from existing investors Kernel Capital and SVV. Nova Leah plans to
use the funds to significantly expand its market opportunity and
global reach.
In recent years, healthcare delivery organisations around the
world have experienced increasingly significant disruption to the
provision of medical care as a result of security threats. Nova
Leah has won international awards for its cloud-based security
product SelectEvidence(R) which ensures that connected medical
devices are continuously assessed for cybersecurity
vulnerabilities. The company also now supports cybersecurity
processes across medical device design and development, market
approval, monitoring, supply chain, purchasing, deployment and use,
right the way through to produce decommissioning.
Pires has a combined direct and indirect interest of circa 20%
in SVV, a venture capital fund focused on investing in the software
technology sector with a specific focus on Artificial Intelligence,
the Internet of Things, Cyber Security, Machine Learning, Immersive
Technologies and Big Data.
Nicholas Lee, Director of Pires commented:
"We are delighted to announce the closing of Nova Leah's seed
investment round, which was led by Northwell Holdings &
Ventures, the for-profit venture investment arm of Northwell
Health, New York State's largest healthcare provider. The valuation
attributed to Nova Leah for this round represents around 200% of
the company's valuation at which SVV initially invested, further
demonstrating the high quality of SVV's portfolio.
"Given the current global environment, Nova Leah is well
positioned in the healthcare delivery market to tackle the
significant security threats which are causing increasing
disruption to the provision of medical care. This funding should
support Nova Leah as it enters new markets and to scale
effectively. We look forward to updating the market on Nova Leah's
progress in due course."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Joint Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Joint Broker Tel: +44 (0) 20 3167 7221
Tennyson Securities
Peter Krens
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence, Internet
of Things, Cyber Security, Machine Learning, Immersive Technologies
and Big Data, which the Board believes demonstrate evidence of
traction and the potential for exponential growth, due to
increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/
.
About Nova Leah
Nova Leah is a world leader in the provision of cybersecurity
solutions for medical device manufacturers and healthcare
providers. With offices in the US and in Ireland, Nova Leah's
software helps connected medical device manufacturers meet
cybersecurity compliance requirements throughout the entire product
lifecycle. Nova Leah's flagship product, SelectEvidence(R) is an
expert cybersecurity risk assessment platform that guides medical
device manufacturers through the processes of identifying
applicable threats to their products and implementing the right
security controls to mitigate them.
Nova Leah was founded by Dr. Anita Finnegan, government advisor
and award-winning international expert in cybersecurity risk
management. Finnegan is a published author and project leader of
multiple, internationally regulated, industry standards for medical
equipment in healthcare technology.
For further information, visit novaleah.com .
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