Newly established private equity firm EQT Ventures, with Hjalmar Winbladh as a partner and co-founder, has entered Swedish market. EQT Ventures’ first investment went to Malmo-based e-health company MinDoktor. The size of investment is 55 milion SEK (5.8 million euro), reports Di Digital.
MinDoktor was founded by physician Magnus Nyhlén in 2013. The service provides digital medical attention, where patients describe their problems by answering a few simple questions about themselves and the symptoms they have. By means of written communication, telephone or video, doctors then give a diagnosis and send prescriptions directly to patients’ mobiles.
In 2015 MinDoktor signed a cooperation agreement with Länsförsäkringar and Skandia, that helped the company gain over 50% of the market for private health insurance, according to MinDoktor’s COO Charlotta Tönsgård. The same year the company has also taken an investment of about 22 million SEK (over 2 million euro) from a number of prominent investors.
2015 ended for MinDoktor with a loss and a turnover of 6.5 million SEK. The new capital will be used to scale up operations in Sweden and reach out to more individuals as an alternative to traditional healthcare services. There are also plans to open up the service to new patient groups. MinDoktor will also receive Lars Jörnow as a board member.
“Now we have the space to do everything we want. Our goal is to be a part of tomorrow’s health care system by revolutionizing healthcare flow. Digitization of health care can really help those are in strong need of visiting a doctor. The problem of current system is not the lack of resources but how they are used,” – says Charlotta Tönsgård.
As for EQT Ventures, the fund has hired several big names to carry out investments in young, rapidly growing technology and Internet companies. Among the investors are Hjalmar Winbladh, founder of Rebtel and Wrapp, Booking.com veteran Kees Koolen and Lars Jörnow, who has a long experience as a head of King. The size of the venture capital company’s new fund is unknown, but it is speculated to be between 3-7 billion SEK.