Cera, Europe鈥檚 largest provider of digital-first home healthcare, has raised $320m (拢260m) to fund a massive expansion programme.
The company, which operates in the UK and Germany, delivers care, nursing, telehealth and prescription delivery services in the home supported by technology, which is around 10-fold more affordable than a patient receiving care in hospital.
The successful raise cements Cera鈥檚 place as the top player in Europe鈥檚 digital-first home healthcare market and one of Europe鈥檚 fastest growing companies.
Cera has scaled rapidly, achieving 100-fold growth in under three years and currently services 15,000 patients per day – the bed capacity equivalent to more than 40 NHS hospitals.
The new capital will be used to increase the number of patients in Cera鈥檚 care to approaching 100,000 by 2025 and help keep elderly patients out of hospital.
The funding round was led by Cera鈥檚 existing investor Kairos HQ, alongside the Vanderbilt University Endowment, Evolve Healthcare Partners alongside Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact, 8090 Partners, technology investor Robin Klein and several other international institutional investors.
Launched in 2016 by Dr Ben Maruthappu MBE, Cera has almost 10,000 employees across the UK and Germany, and holds over 300 contracts with the NHS and local governments.
Its advisory board is chaired by Sir David Behan, the former CEO of the Care Quality Commission. Cera鈥檚 technology is also used by over 2,000 care businesses that collectively deliver over 1 million at-home appointments per week.
On the fundraise, Dr Maruthappu said: 鈥淪ince Cera鈥檚 launch in November 2016 the company has scaled at an unprecedented rate for the sector, benefiting countless lives, and proving the need for technology-powered improvement in healthcare.
鈥淩eceiving such significant financial backing during this period of global economic volatility, is testament to the strength of Cera鈥檚 business model, our innovation, and our commitment to revolutionising healthcare. We鈥檙e now in pole position to be able to use our unique technology to expand what we do for patients across the world who are in need of care, while relieving pressures on public services.
The funding comes against a backdrop of growing NHS hospital waiting lists
Tim Creed, head of private equity investments of Schroders Capital, said: 鈥淎geing populations, post-pandemic recovery and major staff shortages have created a series of issues facing healthcare providers and governments.
鈥淐era鈥檚 proposition is proven to deliver results to face down these challenges. Cera鈥檚 digital-first home healthcare is a unique offering that we believe must be rolled out far and wide to provide a tangible solution to hospital waiting times, building a bigger carer workforce and to help our elderly communities to receive quality, genuine care.鈥�