Dublin Business Innovation Centre (Dublin BIC) first met with Jim Joyce, the founder of private healthcare company Point of Care, at the Fresh Start Expo in September 2006. At this time, Jim was finalising his plans to establish a network of community based, hi tech healthcare clinics around Ireland which he would develop under the Point of Care brand. Point of Care would ultimately allow access to nursing and infusion services for 85 per cent of the population within a one-hour drive.
Already a successful model in many European countries such as Denmark and Norway; in Ireland, Point of Care sought to relieve a pressurised hospital system while providing patients with convenient, comfortable and expert care in their local community. The Company aims to roll out 20 such clinics by 2015 caring for up to 10,000 patients.
During this pre start up phase Dublin BIC consultants assisted Jim Joyce establish the company, develop a business plan and, given that the company was seeking to raise €1 million at this initial stage, put in place a strategy to attract investment. The success of this initial work is evidenced by the fact that Point of Care was established by the first quarter of 2007, the company held a successful fund raising round in July and the first Point of Care clinic opened its doors in 2007.
“We found the expertise provided by Dublin BIC in of enormous help and it was instrumental in setting us on the right course during our start up period. DBIC’s input was of particular value in how it helped us articulate the business opportunity to would-be investors”, commented Jim Joyce.
Dublin BIC continued to work closely with Point of Care and advised on a second investment round in 2008 and a third in 2010 which were supported by private investors, including four business angels brought to the table by DBIC. The Point of Care management team also participates in the full range of DBIC networking events and seminars where they have found the information shared and ideas generated of value to the ongoing development and success of the company.