German digital health start-ups bring in investment
Founders of German businesses are bringing in more start-up funding than ever before, reports one of Germany's leading financial newspapers, the Handelsblatt. The paper says that fledgling companies received EUR 6.2 billion in 2019, or 36 percent more than the year before.
Caspar Health is just one example of how Germany's digital healthcare companies are contributing to this trend. In January, the Berlin-based start-up raised EUR 5.3 million in a Series A funding round. The three-year old company has created a digital therapy platform that serves medical facilities, allowing them to offer digital therapeutic care to their patients before, during, and after their in-hospital stay. The aim of the platform is to improve the sustainably of the medical success of each treatment.
Caspar Health's platform meets the standards set by the German pension fund for tele-therapy. It has also been approved by several insurers in the areas of rehabilitation, prevention, and aftercare. These achievements were facilitated by the fact that Germany is a European leader in terms of providing framework conditions for digital health applications. The German federal government has established a legal foundation for digital health projects and has funding programs for them as well. This fertile landscape for digital development has led to at least 177 telemedical projects being implemented across the country.
Caspar Health is just one of Germany's many digital health start-ups. The country is already home to more than 270 companies working in the digital health field. Analysts forecast that the German digital health economy is expected to reach a market of EUR 38 billion in the next five years.
The export initiative of the German healthcare industry, HEALTH MADE IN GERMANY, is where to learn more about Germany's dynamic digital health environment and find German partners for future. The initiative will be at the German Pavilion, which premieres as a shared stand at the HIMSS Global Health Conference & Exhibition in the US city of Orlando in March. A number of German digital health companies will be exhibiting their products and systems there.