Medihive provides sophisticated software and clinical solutions to the healthcare, pharmacy and insurance industries, as well as direct to consumers and corporates via webdoctor. The company combines digital and clinical knowhow to bring clients and their end users high-quality virtual care on a global scale.
The €7 million investment will be used to further increase the international growth of the business, drive investment and innovation in R&D and accelerate healthcare software developments. The company currently employs 130 people and it is expected this number will now increase by a further 25 employees.
ResMed, whose cloud-connected medical devices transform care for people with sleep apnea, COPD and other chronic diseases, enabling people to live healthier lives, has been working with Medihive since 2019 and now joins as an investor. ResMed Germany led deal negotiations on behalf of the organisation. As a result of their investment, ResMed will now take a seat on the board to work with the team to accelerate the growth of the business.
Meanwhile, existing shareholders in Medihive have invested additional capital into the business. This follows the €3 million investment in August 2021 by VentureWave Capital, the private equity firm that focuses on entrepreneurial companies that make a positive social impact. At the time of VentureWave Capital's €3 million in August 2021, the business was valued at €48 million. Today's investment now values the company at €62 million, an increase of 29%.