Digitalization of healthcare accelerates – Buddy Healthcare receives growth capital
Press release 26th March 2021 08:00 CET. Finnish Buddy Healthcare Ltd Oy has received a total of 2 million EUR of growth capital to be used for internationalization.
Buddy Healthcare simplifies and optimizes communication between patients and hospitals. The company’s platform significantly decreases care personnel’s workload by automating care coordination.
” The digitalization of healthcare has made a great leap forward in Finland in the recent years. The demand for digital patient and care coordination systems has increased both in Finland and more widely in Europe. Our platform is very competitive in the European market. We are already operating in 12 hospitals in Finland and in three hospitals in Germany. Implementation processes are also in progress in three other EU countries”, states CEO Jussi Määttä.
Buddy Healthcare is a health technology company that was established in 2016. Thanks to a few successful funding rounds the company has been able to develop an innovative, valuable product and launch sales activities.
New investors joining in with the most recent funding round include UTU Invest Oy and Swedish investment company Nidoco AB, a subsidiary of Virala Oy Ab owned by Alexander and Albert Ehrnrooth. In addition, some former shareholders such as Spartamed Oy, lead by physician investor Ali Omar, took part in the funding round. The company will also receive growth capital from Business Finland, after having been selected as part of their Young Innovative Company (NIY) funding program.
” The reason for the investment is the trend of process optimization enabled by healthcare digitalization, which benefits patients, hospitals and other service providers alike. Buddy Healthcare offers a product that is highly competitive, even in the global market, as well as a team full of engaged and experienced professionals”, explains Patrick Castrén, CEO of Nidoco AB.
” The new capital is going to be used to accelerate sales, especially in Germany and the UK. The urgency for automation is more pressing than ever due to the COVID-19 crisis. For example, in Germany the government has already earmarked 4 billion EUR to support the digitalization of hospitals”, Määttä explains.
The BuddyCare Platform reduces time needed by healthcare professionals for their care coordination. Traditionally, instructing and preparing patients for their treatment happens either by mail or by phone. Automating these two vital tasks already significantly reduces the workload. Furthermore, Buddy Care Platform collects preliminary information and medical history from patients, thus supporting healthcare professionals in making treatment recommendations.
From the patient’s perspective the care pathway is visible on the BuddyCare App. It features a user-friendly timeline which contains all the information, instructions and prerequisites. The patient receives notifications for upcoming tasks based on their personal schedule. The patient also is able to send messages to the healthcare personnel or book a video appointment if necessary.
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