This startup just raised $320 million to make long-term care in hospitals obsolete
Cera, a UK home healthcare provider, complete with a platform that allows carers to monitor a patient's health and potentially flag issues, has raised 320 million (£260 million) in equity and debt financing round, split approximately 50/50.
The equity leg of the funding round was led by Cera's existing investor Kairos HQ, alongside Vanderbilt University Endowment, Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact , 8090 Partners, technology investor Robin Klein (of LocalGlobe fame) and others. Cera declined to name his debt partner.
The company now plans to grow from 15,000 patients to 100,000 per day. Ironically, 15,000 patients is roughly equivalent bed capacity to the 40 NHS hospitals promised more than two years ago by Britain's ruling Conservative Party, which have yet to be delivered.
>The statistic shows how radicalized home patient care is by tech startups that use remote monitoring or employ caregivers to manually enter patient data into apps. Ultimately, it is likely to make long-term care inside hospitals obsolete, as the home can be an equally effective place to provide care.
It is estimated that more than 88% of hospitals and healthcare organizations in the United States are investing in remote patient monitoring technologies. US startups in the industry include GYANT, which raised $23m, Neteera ($8.5m), and Binah.ai ($13.5m).
Cera's proprietary system is less technological, but it's still clearly on the path to greater automation, in the same way that Uber and Lyft drivers may one day be replaced by self-driving taxis.
The company, which also operates in Germany, provides home care, nursing, telehealth and prescription services, and claims it costs 10 times less than caring for a patient at home. 'hospital. Staff collect patient symptoms and home health data, which is then used to predict worsening conditions before they occur, triggering medical interventions. The company says it can reduce hospitalization rates by more than 50% and has other benefits, such as reducing patient falls, infections, and improving medication and prescription compliance.
With hospitals under pressure after the worst of the pandemic and staff at the highest level, it is likely that these tech-enhanced services will take off among healthcare providers.
Dr. Ben Maruthappu MBE, who started the startup in 2016, told me, "What we do is just mirror what's happened in other sectors, like carpooling or d "other services that come right to your door. Most health technicians are now certified in home health care. We started with the elderly because they have a high frequency of care visits."
He said Brexit was having a negative impact on UK healthcare, as up to 7% of NHS staff were from the EU, but claimed Cera was able to retrain relatively quickly from people from other sectors to health care positions. “Over 60% of the people we hire come from outside healthcare. It's like when carpooling had a breakthrough when it became more accessible to non-taxi drivers,” he said.
Maruthappu added that the company intends to eventually move to a SAAS model, where it allows other technology and healthcare providers to use its services.
Cera, a UK home healthcare provider, complete with a platform that allows carers to monitor a patient's health and potentially flag issues, has raised 320 million (£260 million) in equity and debt financing round, split approximately 50/50.
The equity leg of the funding round was led by Cera's existing investor Kairos HQ, alongside Vanderbilt University Endowment, Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact , 8090 Partners, technology investor Robin Klein (of LocalGlobe fame) and others. Cera declined to name his debt partner.
The company now plans to grow from 15,000 patients to 100,000 per day. Ironically, 15,000 patients is roughly equivalent bed capacity to the 40 NHS hospitals promised more than two years ago by Britain's ruling Conservative Party, which have yet to be delivered.
>The statistic shows how radicalized home patient care is by tech startups that use remote monitoring or employ caregivers to manually enter patient data into apps. Ultimately, it is likely to make long-term care inside hospitals obsolete, as the home can be an equally effective place to provide care.
It is estimated that more than 88% of hospitals and healthcare organizations in the United States are investing in remote patient monitoring technologies. US startups in the industry include GYANT, which raised $23m, Neteera ($8.5m), and Binah.ai ($13.5m).
Cera's proprietary system is less technological, but it's still clearly on the path to greater automation, in the same way that Uber and Lyft drivers may one day be replaced by self-driving taxis.
The company, which also operates in Germany, provides home care, nursing, telehealth and prescription services, and claims it costs 10 times less than caring for a patient at home. 'hospital. Staff collect patient symptoms and home health data, which is then used to predict worsening conditions before they occur, triggering medical interventions. The company says it can reduce hospitalization rates by more than 50% and has other benefits, such as reducing patient falls, infections, and improving medication and prescription compliance.
With hospitals under pressure after the worst of the pandemic and staff at the highest level, it is likely that these tech-enhanced services will take off among healthcare providers.
Dr. Ben Maruthappu MBE, who started the startup in 2016, told me, "What we do is just mirror what's happened in other sectors, like carpooling or d "other services that come right to your door. Most health technicians are now certified in home health care. We started with the elderly because they have a high frequency of care visits."
He said Brexit was having a negative impact on UK healthcare, as up to 7% of NHS staff were from the EU, but claimed Cera was able to retrain relatively quickly from people from other sectors to health care positions. “Over 60% of the people we hire come from outside healthcare. It's like when carpooling had a breakthrough when it became more accessible to non-taxi drivers,” he said.
Maruthappu added that the company intends to eventually move to a SAAS model, where it allows other technology and healthcare providers to use its services.
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