Buddy Healthcare has started a direct share issue today with a goal to support the growth and internationalization of the company’s business operations. The increasing demand and interest by new hospitals and clinics have surprised our management positively and we are now looking to invest in growth. The size of the current funding round is EUR 0.6–1.5 million. Buddy Healthcare has implemented the share issue on the AROUND crowdfunding platform, which is managed by Privanet Securities Oy Ltd.
Rapidly growing market and demand for digitalization
The Global Mobile Health Market grows annually 32% reaching 119,5B€ by the end of the year 2024. Current healthcare expenditure in specialty care in Europe and the USA is 3,5% of the annual GDP. Based on research 30% of the healthcare expenditures are spent on inefficiencies such as phone calls, paperwork and patients cancellations. Hospitals have previously started leaning their processes, and they are also actively looking for new ways to digitize their operations, reducing costs and improving the patient experience.
The BuddyCare Platform digitalizes and automates
Buddy Healthcare was founded in 2015 in a global health technology front-runner country Finland. The company’s product BuddyCare Platform is automating and digitizing patient's’ journey and hospitals’ care coordination. Automated processes support in reducing administrative inefficiencies in the healthcare and new modern patient guidance method, mobile app, improves patient communication.
The BuddyCare Platform in a nutshell
- Easy-to-use mobile application for patients helps to navigate throughout the care process from preparation to recovery. The BuddyCare App sends patients automatically timely scheduled educational packages or information. Checklists, pre-assessment forms, reminders and timely education keeps the patient on the right track.
- Dashboard for healthcare professionals offers real-time visibility over patients (mobile app users) preparation and enables interaction with the patients. The dashboard helps healthcare professionals to identify those patients that have deviated from the expected care plan and more efficiently allocate resources.
Strong position in the field surgeries with a technology that allows expanding
The BuddyCare Platform has proven its excellence and efficacy in surgery patients guidance and we have previously targeted mainly on the surgery niche market. However, one of our key strengths is the diversity of our technology. Our Platform can easily be used in various different kind care coordination of purposes, which enables us large opportunities to expand and grow.
Strong home market position and goal to enter international markets
We have now planned to enter and expand new markets in Northern Europe and Central Europe with our unique innovation, BuddyCare Platform. Our Platform is already in use in 60% of the Finnish market and we also have our first customers in Germany and the USA. The strong growth of the Global Mobile Health Market and our BuddyCare Platform enable vast opportunities to grow in Europe and eventually Globally.
Jussi Määttä, CEO and Founder of Buddy Healthcare summed up
“The Global Mobile Health Market grows annually 32%, which provides us a huge opportunity. There is a clear gap in the market to solve healthcare inefficiencies and bring modern technological solutions to hospitals and clinics that improve both hospital efficacy and patient outcomes. We at Buddy Healthcare are in the front line to solve these challenges”
Want to know more about us and the Privanet funding round? click here to read our whole story (in Finnish) .