Sciety invests in leading health tech company in surgery
PRESS RELEASE. The Sciety syndicate has invested SEK 26 million in Swedish health tech company Encare, whose SaaS solution enables health care providers to improve surgery outcomes. The new capital will finance Encare’s global expansion and further develop the company’s products.
Around 300 million surgeries are performed worldwide annually, and one in four patients suffers from complications. About half of these, 37 million, could be avoided. Complications resulting from various care interventions are today a leading cause of death and entail high healthcare costs worldwide.
“Safer surgery saves lives and reduces suffering. In addition, surgical aftercare is one of the most critical expenditure items for hospitals—in the last ten-year period, it has almost doubled. Therefore, we are pleased about our investment in Encare, a perfectly positioned company to address this problem in an international market,” says Andreas Lindblom, Managing Partner at Sciety.
Encare has developed a software solution enabling healthcare providers to provide the best possible care before, during, and after major surgical procedures. The cloud-based software enables the implementation of ERAS® treatment guidelines (Enhanced Recovery After Surgery), which are based on research and best practices worldwide.
“We are grateful that the Sciety syndicate has chosen to invest in Encare. Sciety is an established investment player and an experienced and knowledgeable partner who can give us the best conditions to develop our products further and support us on our growth journey,” says Rasmus Waller, CEO of Encare.
Several studies show that compliance with the guidelines leads to fewer complications, faster recovery, and increased quality of life for individual patients. And it means saving lives, fewer days of care, and reduced costs for caregivers.
More than 140 hospitals use Encare’s software solution in 25 countries, and data from customers show significant quality improvements and savings, which has led to great interest in Sweden and globally.
Encare already has an international clientele and is on the threshold of broader global expansion, which makes this an extra exciting investment,” says Managing Partner Andreas Lindblom.
Encare is a health-tech company that develops a SaaS solution helping to improve the outcome of surgery. Encare’s interactive, cloud-based software enables healthcare providers to follow international treatment guidelines before, during, and after major surgical procedures.
Encare’s service contains programs, so-called protocols based on the international guidelines ERAS®, Enhanced Recovery After Surgery, which results from research and best practice worldwide.
Encare was founded in 2009 by Professor Olle Ljungqvist, who is also one of the founders of the ERAS® Society, the network of world-leading perioperative care authorities that develops the guidelines. In 2022, Professor Ljungqvist was awarded the world of surgery’s most prestigious prize from the international surgical association ISS/SIC for his work with ERAS®.
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Sciety is the leading life science and health tech investment syndicate in the Nordics. By combining experience in life science and finance, we select promising companies in the industry. We invest our funds in all companies that pass our selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels. Our mission is to help life science innovations to reach their full potential.