In-person health care startups launched before the pandemic are getting their dues.
, a Germany-based health care platform, announced on Monday it raised $108 million, . The company plans on using its funding to expand out of Germany.
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Israel-based venture capital firm , which focuses on health care investments, led the Series C round. The round was a mix of equity and debt, with 70% of the funding coming from equity and another 30% coming from debt. Luxembourg-based supplied the debt.
Patient21���s slew of in-person health care platforms shifts the paradigm away from most telehealth companies. Instead of providing online-only services, Patient21 aims to update the in-person experience by making it easy to book appointments, receive bills and check-in online. Patients are connected with dozens of dental clinics, womens��� health organizations and general practitioners.
The company���s model was pretty innovative in 2019, when it was founded. Then the pandemic happened.
When telehealth took over
When health care organizations were overrun with COVID-19 patients, many doctors adopted telehealth solutions to consult with low-risk patients. Many venture firms and health care institutions invested in telehealth-specific solutions during this time. Between 2019 and 2020, funding into telehealth increased by a whopping 352%, from around $479 million to more than $2 billion. The number of startups funded increased by 78%, according to 做厙勛圖 data.
Startups like , and championed digital-savvy telehealth services in the U.S. Patient21 CEO told Sifted, ���You have no idea how much shit I had to deal with in the first two years.���
In reality, companies like Sameday Health aren���t that different from Patient21. While Patient21 partners with existing clinics and Sameday Health owns theirs, both have created a digital experience to make it easier to find health care records and make appointments.
The hybrid health care model has only become more popular. California-based , a telehealth clinic geared toward women, opened its first clinic in Los Angeles last year. Poland-based raised $7 million in 2021 for a telemedicine and in-person clinic offering.
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