01 June 2020
Doctrin raises $9 million in financing round to fuel further expansion
Healthtech company Doctrin raises $9 million (SEK 83 million) in Serie B-round led by HealthCap and Swedbank Robur. In total, Doctrin has received SEK $25 million (SEK 237 million) in funding. Current investors such as HealthCap and Capio continue to show faith in the company. The capital will be used for product development and international expansion with the purpose to continue to create value for healthcare providers and insurance companies in Sweden and other international markets.
Doctrin is a healthtech company with a platform that enables healthcare providers to intelligently digitalise the patient journey to create a more accessible, efficient, and integrated healthcare system. Doctrin is Sweden’s leading B2B-platform for digital healthcare with 2,3 million people having access to the platform, implemented at nearly 200 healthcare units with more than 6000 healthcare staff trained in the platform which handles 1 000 000 patient cases on a yearly basis.
The largest customers in Sweden are Capio and Praktikertjänst, which stands for 20 percent of the Swedish primary care market. Doctrin’s platform is also used for dental care as well as specialist care with several of Sweden’s leading healthcare providers in specialist care such as Capio Specialist Care and Ersta Hospital among the customers. Doctrin has seen a surge in the demand for digital care during Covid-19 with both patient cases as well as the interest for the company accelerating these last couple of months.
“The urgency to transform the physical healthcare system to reduce the burden of healthcare staff, already under immense pressure, has increased during Covid-19. Doctrin’s digital platform enables new ways of working resulting in a more accessible, integrated, and efficient healthcare system with the patient in the centre. We are very happy to continue driving the digital transformation of healthcare with the support of a number of experienced and long term committed investors,” says Anna-Karin Edstedt Bonamy, CEO Doctrin.
The investment will be used for continuous innovation and product development with the purpose to integrate primary – and specialist care as well as simplifying collaboration and communication between professions and specialities to create a more integrated healthcare system with the patient in the centre. An example of areas of innovation for Doctrin is the unique data structure of patient data, which with AI will enable better decision support for diagnosis and triage, for more precise guidance and treatment of patients. At present, Doctrin has customers in Norway and Czech Republic and is now planning to continue the international expansion.
“The response from the investors has been predominantly positive. We have a strong track record with proven quality improvements and increased productivity with 30 percent. Covid-19 has stressed the need for intelligent digitalisation which not only enables healthcare at a distance but also improves the capacity of healthcare”, says Carlos Lorente CFO and Co-founder Doctrin.
“As an investor with a long term perspective we value a company like Doctrin that takes a holistic approach to the challenges of healthcare and which has managed to prove positive results for their customers. It is important for us that our investments contribute to society which we believe they will do through Doctrin and the digital transformation of healthcare”, says Henrik Carlman and Kristofer Barrett Portfolio Manager Swedbank Robur.