Background to LOIS Medical Ltd.

Entrepreneurship is a strange beast.  Until you have your first success – your voice is met with doubt and scepticism. Once you have your first success (and luck is often the difference), your voice becomes coveted and valued. I have many ideas and in many ways my ideas have been a success and facilitated the frightening rate at which my career has progressed. I would never share my income – but it has doubled each year for 4 years straight (I doubt I can repeat the trick this year, but who knows). Yet when I reflect on my ‘ideas’ I think of the slightly more ambitious ideas, those that come from left field and would, by many, be considered a failure. One ‘failure’ I remember fondly was my youtube career. It lasted 7 episodes during which I jumped from a mountain, indoor sky dived, surfed, kayak’d, flyboarded, completed a 10K obstacle course and attempted 3 world records. It was an interesting 2 months!

Now brace yourself for a cheesy message but I am afraid it is 100% true. I see none of my incomplete ventures as failures but instead lessons, I was testing the world and testing myself. I learned a true insight about my personality. When I am faced with the ‘boring & functional’ reality of any venture, something shinier and new catches my attention and I quickly trade in what could have been a very good idea.

You might be asking what this has to do with becoming the CEO of a medical start-up company? Well I consider LOIS Medical LTD as the first venture of mine that has been truly vindicated. It has been vindicated by Innovate UK, a government grant scheme who invest in good ideas that stand up to the scrutiny of 8 assessors and come out on top against thousands of other applicants. To win an Innovate UK competition is a really big deal – LOIS Medical LTD achieved just this and now we have the capital needed to make the idea a reality.

How to have a ‘Successful’ Idea

The only reason that LOIS Medical LTD has been a success and my other ventures have failed, is because I have not attempted this project on my own. When I had the idea for our medical wearable, I knew it was a good idea, a really good idea in fact. I also knew that if I went it alone – I would never see it through to completion. I needed to surround myself with other personality types that excel where I falter. The team that I have assembled all have a track record for seeing projects through from start to finish. They earned their equity and I am happy that the company ownership is shared. Without the rest of the LOIS team, LOIS Medical LTD would already be on the scrap heap with the rest of my incomplete adventures. For readers of Daniel Priestley, I am a ‘vital’ person and not a ‘functional’ person, there is no shame in being either but to be successful in business you need a mix, LOIS has just that.

LOIS Medical Ltd is a patient centered healthcare technology company. We are built on the belief that patients can still be better informed and given greater control of their disease states. It is well documented that patients with greater control, decision making and involvement in their therapy have improved healthcare outcomes, yet this approach is still widely overlooked in healthcare. Our breakthrough product ‘LOIS’ is a novel sensor and alert system for patients who have Implantable Cardioverter Defibrillators (ICD’s).

Intellectual Property

LOIS Medical Ltd have filed patents for our first line of healthcare innovation, yet this is just the start. We have a different approach to healthcare innovation, pulling alongside patients to see the world through their eyes. Patient first innovation exposes so many opportunities to improve lives that stand neatly in the void between disease states and therapy. 

Our first product has been recognised for excellence and been victorious in the Innovate UK Open 2018 Competition. We are hard at work bringing this product to market.