As the market for telehealth and telemedicine continues to rapidly grow in recent years, especially in the post COVID world, virtual care startups are here to stay. The upward trend is predicted to continue to grow by 27% annually in the coming six years.
Betting big on the sector, Finnish digital health company offering solutions for virtual care and online consultations VideoVisit has been acquired by Dutch software investor Main Capital Partners. The deal represents the first investment for Main in the Finnish market.
VideoVisit is currently exploring multiple growth opportunities, with the support of Main, by offering complementary solutions to existing customers in the Finnish market and through partnerships and selective buy-and-build acquisitions.
With over 200 municipalities as customers, including Helsinki, Espoo, Vantaa, Tampere and Turku, VideoVisit offers a software platform that is designed to digitalise both healthcare and social care visits. The virtual care platform enables a wide range of healthcare services, including primary care, home care, home rehabilitation and disability services. For home care, the VideoVisit platform enables remote care services for people via video connection.
Juhana Ojala, CEO, VideoVisit, said: “Our solutions provide extensive benefits to both healthcare recipients and organisations more broadly. Our service is proven to be 85% more cost-efficient than physical home care while also easing the workload for healthcare providers. More than 50 percent of the virtual care visits on our platform are made by nurses who ensure that the correct medication is taken at the right time by their elderly patients. Travel time can also be saved and allocated to more demanding home care clients who absolutely require a physical presence.”
Wessel Ploegmakers, partner and co-head of the Nordics office, Main Capital Partners, added: “Main has extensive experience within the healthcare market through our existing portfolio companies, including SDB Group and Enovation in the Benelux and Alfa eCare in the Nordics. We look forward to deploying this knowledge to further strengthen VideoVisit’s position in the European virtual care market.”