We take a look at the main financing rounds in the Remote Patient Monitoring (RPM) eHealth segment. We also analyse Devicare's latest investment round, in which it has raised €3M in capital.
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We take a look at the main financing rounds in the Remote Patient Monitoring (RPM) eHealth segment. We also analyse Devicare's latest investment round, in which it has raised €3M in capital.
About Devicare
Devicare is an eHealth company specialising in the development of devices for the remote management of chronic patients and self-monitoring, under the Remote Patient Monitoring (RPM) concept. The company markets these devices through agreements with pharmaceutical companies.
Devicare's technology allows chronic patients to be monitored more frequently from home without losing contact with their doctor. This is what the company has called "4P Medicine": Preventive, Predictive, Personalised and Participatory. It is a type of medicine that is decentralised from health centres and hospitals.
Devicare, located at the Parc de Recerca UAB in Cerdanyola del Vallès (Barcelona) with a staff of 20 employees, expects to achieve sales of €1.1M in 2018.
Devicare closes €3M investment round
Barcelona-based company Devicare, specializing in Remote Patient Monitoring (RPM), has closed a €3M financing round. The deal was opened in 2016 with the entry of the investment holding company EMESA Corporación Empresarial (Emilio Cuatrecasas' company), which has subsequently joined several family offices and corporate partners such as Juan Knuth (Palex Medical), the Gaya family (Eladiet), the Xiol family (Peroxfarma), and the Serra family (Boyser), among others.
This capital injection aims to consolidate the launch and clinical trials of the first two product lines in the Spanish market: Lit-Control®, for the prevention and self-management of recurrent urinary tract diseases, and Tao-Control®, for the self-management of patients taking oral anticoagulants.
On the other hand, the National Innovation Company (ENISA) has recently granted Devicare a €270,000 loan from the ENISA Entrepreneurs line. In total, Devicare has raised €4.5M in funding since its foundation.
Analysis of the investment in Remote Patient Monitoring (RPM)
In 2016, according to data from Berg InsightThe global Remote Patient Monitoring (RPM) market grew by 44% and it is estimated that the number of monitored patients will reach 50.2 million in the next 4 years, of which 25.2 million will come from connected home medical devices such as those developed by Devicare.
The RPM market saw a big jump in the last year, with 7.1 million patients in 2016 enrolled in some form of digital health programme with connected medical devices as a central part of their care plan.
The industry trend is to incorporate more connectivity into medical devices and pharmaceuticals to leverage new value propositions and services. In this regard, the fastest growing RPM sub-segment in 2016 was Sleep Tech, eclipsing the implantable cardiac rhythm management device market, which has long been the strongest. These two verticals together accounted for 80% of all connected RPM systems in 2016, with half a million connections.
It is not surprising, therefore, that investment in this segment of eHealth is increasing and that more and more M&A transactions and financing rounds are being carried out in this segment.
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