London-based medtech startup Medbelle is building the world’s first digital hospital, supporting patients through every step, from signup to aftercare. Its platform and app provide comprehensive information about treatments, prices, financing options, consultations, medical details, and appointments. Over 30,000 Britons have already used the service, and the founders expect to attract an additional 144,000 users by 2020.
Founded in 2016, the end-to-end platform for medical procedures has just announced €6 million in Series A funding to accelerate the digitisation of the patient journey. The round was led by signals Venture Capital, with participation from Talis Capital, Mutschler Ventures, IBB Beteiligungsgesellschaft, and Cavalry Ventures.
“Major digital platforms improve customer experience in almost all industries, however, in healthcare, the digitisation of patient journeys has been heavily lagging behind until now,” said Clemens Koós, investment manager at signals Venture Capital. “Medbelle’s technology and personalised care enable much simpler and more affordable medical treatments – while allowing healthcare providers to efficiently focus on treating patients. We look forward to working with the Medbelle team and co-investors in expanding the platform to include more treatment specialities and increasing its reach.”
Medbelle’s three-layered ‘digital hospital’ model (including the Medbelle Platform, Medbelle Care, and Medbelle Operating System) puts control in the hands of patients, and gives healthcare professionals access to an integrated suite of management tools covering the entire treatment journey – from first consultation to billing, post-operative care and follow-up.
Patients can book their procedure through Medbelle, which provides them with leading specialists and state-of-the-art operating facilities – with all of the details taken care of by the platform. The Medbelle service is designed to save patients time, stress and money, ensuring that they benefit from the very best treatments and facilities available. Once a patient is registered, every aspect of their treatment is accessible via a single, simple web portal and app, or through their own personal Medbelle Care Adviser.
At the same time, the Medbelle Operating System ensures healthcare providers can make the most of their valuable time and resources. It allows specialists, hospitals and staff to work more productively, and liberates them from inefficient, unnecessary administrative tasks.
The investment will enable Medbelle to undertake the next phase of its roll-out. And with the UK private healthcare sector forecast to hit $13.8 billion by 2023, it’s a market opportunity that has proven highly attractive to investors.
In its launch phase, Medbelle was focused on privately-paid procedures in areas such as cosmetics, bariatrics, and ophthalmology, and is currently expanding into orthopaedics and fertility. In the future, Medbelle will work with private medical and public insurance providers and the NHS to leverage its technology and services to help patients with all types of medical procedures.
“The new capital will accelerate the development of our platform while growing Medbelle’s operating footprint,” said Daniel Kolb, co-founder and MD of Medbelle. “It will allow us to streamline high-quality care at scale and take even more work off the hospitals’ and specialists’ shoulders. Our technology helps them to operate more efficiently, be better-utilised and fully focused on what matters most: the best care for patients.”
“The digital health market is expected to reach $536 billion by 2025 – so the time is right to be focusing on technologies that can transform healthcare and the patient journey as we know it today,” added Vasile Foca, Managing Partner at Talis Capital. “We’re proud to be backing Leander, Daniel and their high-quality team in this latest round as they roll out their truly digital treatment solution. Medbelle is the world’s first digital hospital that creates real value for both patients and providers and offers unrivalled care from some of the country’s best specialists.”