SeraThe UK provider of healthcare inside people’s homes, augmented by a platform that allows carers to monitor a patient’s health and flag potential problems, has raised $320m in equity and debt financing rounds (£260m), which is roughly split 50/50.
The equity side of the funding round was led by Cera’s existing investor Kairos Headquarters, along with Vanderbilt University Endowment, Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact, 8090 Partners, technology investor Robin Klein. LocalGlobe fame) and others. Cera declined to name her date partner.
The company now plans to expand from serving 15,000 patients to 100,000 a day. Ironically, the bed capacity of 15,000 patients is roughly equivalent to the 40 NHS hospitals promised by Britain’s ruling Conservative Party two years ago. not yet delivered,
The figures indicate how in-home patient care is being radicalized by tech startups that either use remote monitoring, or employ caregivers to manually enter patient data into apps. . Ultimately this is likely to make long-term care within hospitals obsolete, as the home can be an equally efficient place to deliver care.
More than 88 percent of hospitals and health organizations in the US are estimated to have Investment in remote patient monitoring technologies. US-based startups in this space include GYANT, which has raised $23M, Neteera ($8.5M) and Binah.ai ($13.5M).
Cera’s proprietary systems are less tech-heavy, but all are clearly headed for greater automation, in the same way that Uber and Lyft drivers may one day be replaced by driverless taxis.
The company, which also operates in Germany, offers home care, nursing, telehealth and prescription delivery services, and claims it is 10 times cheaper than servicing a patient in a hospital. Staff collect patient symptoms and health data in-house, which are then used to predict a worsening of the condition, before they trigger medical intervention. The company claims that this can reduce hospitalization rates by more than 50% and has other benefits such as reduced patient falls, infections and improved compliance with medication and prescriptions.
With hospitals strained and staff at a premium after the worst of the pandemic, it is likely that these technology-enhanced services will roll out among healthcare providers.
Dr. Ben Maruthappu MBE, who launched the startup in 2016, told me: “What we are doing has just happened in other industries, like ride-hailing or other services that come straight to your door. Most healthcare technology is now in the home. graduating to healthcare. We started with older people because they have a higher frequency of caregivers.”
He said Brexit has had a negative impact on healthcare in the UK, as 7% of NHS staff are from the EU, but claimed that Cera has been able to rapidly take people from other industries back into health care roles. “60% of the people we are hiring are from outside healthcare. It is like when ride-sharing got a breakthrough when it became more accessible to non-taxi drivers,” he said.
Maruthappu said the company intends to eventually move towards a SaaS model where it will allow other tech and care providers to use its services.