French digital health solution provider Biolog-id has raised an additional investment of $25 million from private equity firm Xerys Invest. The extra cash will enable the platform to accelerate its growth and expedite penetration into additional adjacent healthcare verticals.
Founded in 2005, the platform develops value-chain optimisation solutions that create, collect, and consolidate high quality data to drive operational, commercial, and clinical impact for high-value high-impact health products. The company had earlier raised $33 million in 2019 for roll out of its smart management solution for delicate health care products.
Troy L. Hilsenroth, CEO, Biolog-id said: “With the new funding, we want to boost our commercial expansion, inject additional value into our solution, and optimise our platform for the growth opportunities ahead.”
Olivier Ossipoff, chairman, Xerys Invest added: “Xerys Funds have been quick to identify the global potential of the Biolog-id solution. We are thrilled to witness the commercial realisation of the Biolog-id vision and how it will further catalyse this exciting market momentum to improve health care.”