Investors tune in to doctor’s online training company
Right note: Eoghan Colgan and Graham McDonald
A musician-turned-doctor has raised almost £500,000 in equity finance for his online training business from a consortium of private investors.
Continulus, founded two years ago by Glasgow A&E medic Eoghan Colgan, has already attracted users from 89 countries and developed partnerships with a range of medical bodies.
Dr Colgan set up the company after returning from a medical assignment in Africa and then spending some time as a professional musician working under the same management as the late singer Amy Winehouse.
He returned to medicine in Scotland and developed the idea of a quicker and easier way for doctors and trainees to learn and collaborate online.
He teamed up with Graham McDonald, who mentored him on a government scheme to help young companies.
A former member of Bank of Scotland’s leveraged finance team, Mr McDonald left Aberdeen Standard Investments last year and is now chairman of Continulus. He led the fund-raising which will be used to employ staff and develop the product.
Janine Lu-Watson has been appointed chief operating officer and a finance director will join in May from a government agency.
Speaking about the fund-raising, Dr Colgan said: “Our long-term aim is to become one of the leading global healthcare education providers and to form a worldwide network that can be used to address global healthcare challenges. This investment represents a major step forward in fulfilling our ambitions.
“Both the Covid-19 pandemic and climate change are important factors in our growth since Continulus gives all our users online access to conferences, lectures and events at which, previously, professionals would have had to be physically present.”
Mr McDonald added that it was “exciting” to be “bringing together the leading researchers and subject experts onto one platform.”
Edinburgh-based legal services firm Vialex advised the consortium.