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Friday, January 27, 2023

Finnish healthtech startup Medixine nabs €5M to meet the rapidly increased demand for remote patient monitoring solutions

Espoo-based telehealth platform Medixine has raised €5 million in a round that was fully subscribed for in one week. The growth funding round was launched through Springvest, which was founded to meet the financing needs of growth companies and the desire of investors to participate in the story of growth companies.  Medixine enables smooth collaboration between healthcare providers, patients, and family members. The startup provides tools for connecting different data sources and optimizing care processes. The share issue will help the startup meet the demands for its technology.

An aging population and pressure to save costs are accelerating the digitalization of the health sector. As healthcare digitalizes, many services can be moved from healthcare facilities to the home, making life easier for both healthcare professionals and patients. Remote appointments have already become the norm, and chronic illnesses are increasingly monitored and treated remotely.

The internationally used remote monitoring solution of the Finnish health technology company Medixine can be used to treat and monitor any disease.

Medixine, Lasse Roussi“The population is aging rapidly, there is a shortage of doctors and nurses everywhere, and the number of chronic diseases is increasing around the world. We need advanced technology to lighten the workload of healthcare professionals and bring security and timely care to patients at home,” says Lasse Rousi, CEO of Medixine.

Medixine is active in Finland, the United States, Sweden, Norway, Denmark, Spain, Portugal, and the United Kingdom.

Medixine’s remote monitoring platform provides all the tools a healthcare professional needs to treat patients without physical presence. Remote monitoring can be used to monitor the condition of a large group of patients much more efficiently than the traditional way.

”Patients take regularly agreed measurements at home, the measuring devices automatically send the results forward, and the platform highlights the patients whose measured values require the attention of professionals. In this way, treatment can be optimized better than before and situations requiring intervention can be intervened at an early stage,” Rousi sums up.

The platform is used, for example, for remote monitoring of chronically ill patients. Measuring devices used at home can be, for example, a blood pressure monitor, a weight scale, and an oxygen saturation meter.

According to Medixine’s medical advisor, Dr. Timo Hänninen, regular measurement results obtained through remote monitoring help to ensure that the patient receives the treatment they need in a timely manner.

From the perspective of healthcare organizations, remote monitoring helps to direct limited resources to the patients who need them most, as well as to improve proactive care.

Medixine, Dr. Timo Hänninen“A realistic picture of the patient’s well-being in everyday life helps to plan the most suitable treatments for each patient. During the annual control, the doctor sees the disease’s treatment balance and the patient’s condition on that particular day. With the help of systematic remote monitoring, changes in the treatment balance in the patient’s everyday life leave a trace throughout the year, and alarming changes can be reacted to earlier,” Hänninen says.

According to Hänninen, remote monitoring brings many benefits to doctors’ work, but at the same time requires a new way of working.

“The doctor must carefully assess which indicators should be used in the monitoring of treatment, when the measurement results exceed the alarm limit and require a response, and how the measurement results are utilized in treatment policies,” Hänninen says.

Click to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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