03 September 2014
An Island company has secured investment from the Jersey Innovation Fund (JIF) to help it build an international market for one of its products.
Total Billing Solutions will use the JIF investment to expand UK and international sales activity, and research and development, of its medical billing product Medibooks. Medibooks is used by healthcare professionals to calculate, manage and control their income, and is already used by primary care practices in the Channel Islands and by the States of Jersey.
Innovation and international competitiveness
Tim Herbert, the board’s chairman, said “The whole purpose of JIF is to encourage innovation and improve Jersey’s international competitiveness, and our financial support will give Total Billing Solutions a solid platform from which to achieve both. This is the second company that JIF has supported, and is the most significant financial support that we have given so far.”
The Minister for Economic Development, Senator Alan Maclean, who has political oversight of the JIF, said “JIF is the government’s approach towards opening up access to finance for early-stage, high-growth or technology-driven companies using Jersey as a global base. I followed the JIF Advisory Board’s recommendations because we recognised the project could contribute to Jersey becoming a leading jurisdiction for e-health, and the training that staff will receive in software development could benefit the wider digital sector.”
Healthcare IT market
Total Billing Solutions is part of Total Solutions Group, whose chief executive officer, Danny Bannister, said they believed that the healthcare IT market was significant, and that growth would enable the company to generate skilled jobs for Islanders and contribute additional value to the economy, while offering enhanced services to the group’s existing local clients.
“The JIF Advisory Board have been fully engaged and incredibly helpful throughout the application process and we have also received invaluable advice and support from both Digital Jersey and Jersey Business. The support received from these States organisations has enabled us to access the finances we need to grow while also offering advice on a strategic level.”