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Patient21 Raises $108 Million to Expand Digital Health Platform

Patient21, a German startup operating in the field of digital healthcare, announced plans to start working in new markets after attracting investment funds for $108 million.

Patient21 Raises $108 Million to Expand Digital Health Platform

Source: Pixabay.com

The company announced the results of the Series C financing round last Monday, May 22. Part of the investment funds will be used to prepare for the start of activities in new European markets. The company plans to spend another part of the money on the development of its software platform.

Patient21 was founded in 2019. The startup offers a combination of traditional medical care and digital services, including check-in, insurance, and online booking.

Co-founder and CEO of the company Chris Moore noted that the main feature of this platform is that in this case remote medical care is not offered, but the patient is referred to the outpatient clinic of the company.

Currently, the startup focuses mainly on providing services related to dentistry. Moore says that this area of medicine requires face-to-face consultations for comprehensive diagnosis and treatment. He noted that dentistry, due to its specificity, involves a visual examination of the oral cavity, the use of diagnostic tools, including X-rays, and prompt response to emergencies.

The company plans for the near future to integrate telemedicine into its offer as part of the expansion.

Currently, there is an increase in the number of cases of consumers interacting with healthcare providers using digital means. The results of special studies indicate that the age factor in this context is no longer of decisive importance, and confirm the gradual disappearance of the situation of refusal of individual generations from such options for obtaining the help of specialists.

The survey results state that in the US 39% of Generation X consumers, 63% of millennials, and 56% of bridge millennials use a combination of personal and digital health services. Multichannel healthcare is an almost universal phenomenon in the United States.

Approximately 119 million American patients, accounting for 46% of the total number of consumers of medical services, use various portals, telemedicine records, applications, and personal visits.

As we have reported earlier, Mastercard Partners HealthLock to Protect Consumers From Healthcare Fraud.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.