Riga-based digital clinic Medon has secured €320K in funding from a group of successful local entrepreneurs. The startup, known for its digital clinic providing remote cardiovascular health consultations globally, plans to use this investment to expand its innovative healthcare solutions into India, the United Arab Emirates, and Saudi Arabia. The funding will help develop and adapt their digital platforms to these new markets, aiming to make high-quality European medical expertise more accessible globally.
Medon specializes in remote medical consultations, with a strong emphasis on cardiovascular health. Founded by Roberts Lasovskis, Andrejs Mironovs, Mārtiņš Ērglis, and Helvijs Henšelis, the clinic offers innovative healthcare solutions through its digital platform, aiming to make high-quality European medical expertise accessible to patients globally. Medon serves a broad range of medical specialties, providing convenient online care solutions that improve patient accessibility and reduce administrative burdens for healthcare professionals. With this new funding, Medon aims to establish its presence in India, the United Arab Emirates, and Saudi Arabia.
“These markets are seeing rapid growth in digital healthcare, which is in line with our ambitions. India, the United Arab Emirates and Saudi Arabia stand out for their dynamic economic development, high levels of technology adoption and rapidly growing healthcare sectors,” stated CEO Roberts Lasovskis. “For example, India’s digital health market is forecast to grow to around EUR 9.74 billion as early as 2027, growing by more than 21% annually. These markets also offer unique opportunities for expansion given their populations and healthcare challenges.”
The clinic’s approach is to leverage European medical expertise to address global healthcare challenges.
“Cardiovascular disease remains the leading cause of death globally and our target markets are seeing an alarming increase in these diseases. For example, cardiovascular diseases cause nearly a quarter of deaths in India, 45% in Saudi Arabia and 40% in the United Arab Emirates. Our approach is to mitigate this trend by leveraging European medical expertise and making innovative and patient-centred healthcare more accessible,” says Mārtiņš Ērglis, co-founder of Medon and cardiac surgeon.
Investor Mārtiņš Dziedātājs expressed strong confidence in Medon’s team and vision.
“We hold a strong confidence in the team and the solution it has created and continues to develop both in Latvia and abroad. Our vision aligns with Medon’s commitment to provide quality healthcare services and to promote their digitalisation in general. This approach would make health services more accessible for patients, improve efficiency for doctors by reducing administrative burden, and give them the opportunity to work in many geographies at the same time while being based in Latvia.”
Since its inception, Medon has made remarkable progress in developing digital healthcare solutions. The clinic currently offers services in 27 medical specialties and boasts a roster of 128 leading medical experts. With over 4,000 registered patients, Medon continues to modernize healthcare delivery through its convenient online care solutions.
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