Originally published by Business Wire on December 1, 2022
ANTWERP, Belgium--(BUSINESS WIRE)--Minze Health announced today that White Fund, Capricorn Partners and PMV have jointly invested €3.9 million in the company to fund its further growth and product development roadmap.
Minze Health is a digital healthcare scale-up that enables better care for 2.3 billion people with Lower Urinary Tract Symptoms (LUTS). Most common symptoms are urinary incontinence, a weak urine stream due to an enlarged prostate, frequent voiding and night voiding. Urological complaints remain taboo subjects in today’s society, as a result of which people are often treated too late or not at all. Minze Health is committed to lowering this barrier by offering simple and accessible screening for patients and better and user-friendly diagnostic and remote monitoring tools for healthcare professionals.
White Fund, a private equity fund focused on MedTech, led the funding round and was joined by Capricorn Partners via their Capricorn Digital Growth Fund and by the Flemish investment company PMV.
Worldwide, 300 hospitals, urology practices and pelvic floor rehabilitation centers are already working with Minze’s digital health and Remote Patient Monitoring (RPM) solutions. The proceeds will be used to conduct more clinical studies in Europe and the US, to execute Minze’s product roadmap, as well as to invest in international B2B/B2C go to market strategies.
Philippe Stas, Executive Committee Member at White Fund: “We know that due to an aging population, the LUTS prevalence number will only increase. At the same time there is an enormous pressure on our healthcare system and costs are rising every year. Digital health and health at home can improve a patient's quality of life, while at the same time significantly saving on healthcare costs. We were impressed with the progress made by Minze in recent years and believe that the company plays an essential global role in the digitalization of urology healthcare.”
Katrin Geyskens, Partner at Capricorn Partners: “The combination of Minze’s hardware & software based on explainable AI makes Minze Health unique in the field of LUTS treatment. By generating unique datasets per patient, Minze enables personalized healthcare ranging from lifestyle advice to digital therapeutics. Capricorn Partners is excited to help Minze to support patients and healthcare providers in making better decisions in their daily life.”
Tine Bekaert, Senior Investment Manager at PMV: “Minze Health’s solutions to often unspoken social problems, represent enormous international potential. We are convinced that thanks to a unique combination of medical devices with low-threshold and comprehensive software diagnostics, patients around the world facing urology problems will find their way to this accessible form of home diagnostics. We therefore fully support Minze Health in this crucial phase of international expansion.”
Wilfried Woesthuis, CEO at Minze Health: “We are honored to have White Fund, Capricorn and PMV on board. Their trust in Minze helps us to achieve our mission: bring LUTS diagnostics, treatment and follow-up to the patient's home, thus making treatment more accessible. We aim to improve care for an underserved population of approx. 1.5 billion people with urinary problems, while keeping healthcare sustainable and affordable. The investment consortiums’ expertise, network and financial support will help us to realize this ultimate goal.”