Digital Health’s Most Interesting Actors in Europe
Technology and medicine are set to transform and there are already significant changes apparent in the way the health care industry operates. Digital forces are pulling at the industry from all sides, significantly altering services, products, innovation and delivery. Europe is hopping on the digital health train late, but has the potential to create great companies. We’re pleased to present you some of the most interesting digital health companies in Europe that are putting this innovative topic on the map at this very moment.
”The healthcare sector in Europe isn’t a single market. All of the union’s 27 member states have their own reasonably unique healthcare regulations and financing models. And we all speak different languages. This makes it really tough for health startups to scale efficiently.” says Frank Boermeester for Rock Health.
So let us present you with ten of the most ambitious and arguably interesting digital health actors in Europe at this very moment. Who will succeed in changing the future of healthcare?
TrialReach is a search engine for clinical trials that allows patients to search for clinical trials taking place around the world. Users can submit their information to research centers looking to conduct clinical trials.
Founders: Eithan Ephrati, Jessica Mann & Pablo Graiver
Category: Diagnostics & Patient Empowerment
Funding: $17.9 million
Why you should pay attention: As a global crowdsourcing platform, TrialReach can reduce the cost of recruiting patients for both large pharmaceuticals and small companies that are conducting clinical trials. It simultaneously expands the pool of patients which may result in a better matched study group and a shorter timeframe to get into the market.
Mendor Oy engages in the design, development, and marketing of advanced diabetes management products. It offers Discreet, a portable blood glucose meter; and Mendor Balance, a Web-based software application for the daily management of diabetes.
Founders: Kristian Ranta
Category: Health and Wellness
Funding: $26.5 million
Headquarters: Espoo, Finland
Why you should pay attention: According to the World Health Organization, more than 347 million people worldwide have diabetes and the cost of dealing with the disease runs more than €400 billion euros, or $538 billion, each year. What makes Mendor one of most interesting digital health companies in Europe is the fact that their kit helps lower the costs of controlling the disease. On July 7,2014 the company received a funding of $8.8 million.
Founders: Fred Potter, Cedric Hutchings, Eric Carreel
Category: Hardware + Software
Funding: $33.8 Million
Headquarters: Issy-les-moulineaux, France
Why you should pay attention: Withings SAS designs, develops, and industrializes connected objects. It offers Internet connected WiFi body scale products that automatically record the users’ weight, fat mass, and BMI, which the users can view from their computers or smartphones. In 2013 the company received a funding of $30 million.
Zesty allows patients to find a healthcare provider in Greater London, rate them based on their experience, compare them by reading real user reviews, and make a confirmed appointment in under sixty seconds.
Founders: James Balmain & Lloyd Price
Category: App & Care Delivery
Funding: $9.2 million
Why you should pay attention: The company has been nominated for a dozen of awards and its founder has been invited to several parliamentary planning meetings to help guide the NHS in adapting technologies and transforming patients into consumers. The platform transforms patients into consumers, a force that is largely cited as a method to reducing healthcare costs and improving overall quality.
A company that makes a device that shines lights onto your brain cells through your ear canals. Yes, it does sound pretty strange, but the device exists to treat seasonal affective disorder, or that temporary depression that some people get during winter.
Founders: Juuso Nissila, Antti Auino
Category: Hardware + Software
Funding: $10.2 million
Headquarters: Oulu, Finland
Why you should pay attention: The idea is that by shining light into sensitive areas of the brain, it will stimulate a special OPN3 protein in parts of the brain that help regulate serotonin, melatonin and dopamine production. They started selling the product back in 2010 under Europe’s CE Class II medical device certification and have their biggest customer bases in German-speaking Europe, Scandinavia and Japan. They’re using the funding to expand to other markets while expanding existing clinical trials for applications in treating jetlag, cognitive performance and depression.
6. Big Health
This company aims to bring highly personalized behavioral medicine programs to the masses by tracking data. Their first product, Sleepio, is an app that uses tracked data to create customized programs to help users sleep better without the use of medications.
Founders: Colin Espie & Peter Hames
Category: App & Behavioral medicine
Funding: $3.3 million
Why you should pay attention: Sleepio has been validated in the world’s first placebo-controlled RCT for a digital sleep intervention. It is a digital sleep-improvement programme featuring cognitive behavioral therapy (CBT) techniques. On average, Sleepio helped users fall asleep 54% faster, reduced night time awakenings by 62%, and boosted their daytime energy and concentration levels by 58%. The focus on behavioral therapies using personal data lends itself to a vast number of possibilities, particularly in the mental health and rehabilitation fields.
Founders: Tove Westlund, Martin Wählby
Category: Social Media, Internet, Android, iPhone, Personal Health, Fitness, Health and Wellness
Funding: $6.7 Million
Headquarters: Stockholm, Sweden
Why you should pay attention: It has more than 6.5 million app downloads across Europe on iOS and Android to date. Features in the app include the ability to scan barcodes to quickly add food intake data, a database of 200+ exercises with associated calorie burn, and the ability to integrate with third party fitness data from the likes of Runkeeper and Withings. Prior to its name change, ShapeUp Club was reporting more than 4.8 million registered downloads and 500,000 monthly active users in Scandinavia, Germany, Austria, and Switzerland — as of December 2013.
Founders: Adi Mashiach, Robert Taub
Category: Medical Devices
Funding: $10.9 Million
Headquarters: Mont-Saint-Guibert, Belgium
Why you should pay attention: Nyxoah has developed a device to treat sleep apnea and snoring through electrical stimulation. In developing the next generation of neurostimulation devices, Nyxoah is working closely with leading experts on breathing disorders during sleep. The company is set to make a real difference to those whose lives are disrupted or threatened by OSA.
This mobile health platform automatically gathers data and securely delivers patient information – including medical records, lab results or images – directly to healthcare providers’ fingertips. The platform also allows doctors to collaborate with each other as well as communicate with patients using any mobile device.
Founders: Dan Vàhdat & Rich Khatib
Category: App, Diagnostics & Patient Communication
Funding: $2.8 million
Why you should pay attention: Seamless integration with Apple HealthKit and Google Glass is just the cherry on top of this proprietary technology. Medopad was voted the Best Healthcare App 2014 by MEDICA.
Founders: Hans Raffauf, Ida Tin
Category: Health Care, Consumers, Health and Wellness
Funding: $3.3 Million
Headquarters: Berlin, Germany
Why you should pay attention: Clue it’s a company based in Berlin that has designed and developed the Clue App, a cycle-tracking app that empowers women to better understand their fertility. In just two years they managed to receive a funding of $3.3 Million, turning this start-up into one of the most interesting digital health companies in Europe.
While the digital healthcare landscape continues to evolve around new products and services, these are some of the most promising companies to first dive into the tidal wave of the digital health opportunity. Startup dynamics being what they are, the future looks both bright AND fragile at the same time for those companies. We’ll play the honorable doctor here and check in with them every now and then, to give you an updated diagnosis.
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