French Healthtech startup Lifen, today, has announced that it has raised €50M funding in a Series C round led by Creadev and Lauxera Capital Partners, with participation from existing investors Partech and Serena.
The Paris-based startup will use the funds to expand its infrastructure to help the healthcare sector in Europe digitise its data at scale. This, in turn, will help digitise the treatment process, integrate e-health solutions to the hospital information systems and provide better access to innovation for doctors.
Lifen has already established itself as one of the leading secure messaging service operators in the HealthTech sector of France. It serves around 600 partner institutions to send and receive medical documents, delivering around two million medical documents to 240,000 doctors each month.
How Lifen works
Lifen offers an AI-powered solution that facilitates the secure exchange of medical documents between patients, private practitioners, and hospitals. Users can use Lifen to deliver documents through the platform, secured email, fax, or the postal service, all in just a few clicks.
By automating and streamlining logistics in healthcare, Lifen enables doctors to spend more time on delivering medical care to those who need it. Lifen acts as an interface with multiple electronic messaging protocols. It tries to automate as many things as possible, cutting down the burden on healthcare professionals.
According to Franck Le Ouay, Co-Founder & CEO of Lifen, “Progress in health tech must be achieved by pooling efforts. Today, each player is obliged to carry the entire complexity of the ecosystem. Lifen offers an answer to this problem that will help to unlock the digitisation of care paths.”
How Lifen plays a major role in the UK medtech industry
The COVID-19 pandemic has hastened the adoption of reforms. Change that was envisioned over the course of years has now been reduced to months.
The UK healthtech market received a whopping €2.7B investment in 2020, making it the third biggest country in the world for healthcare investment.
While the continues to face an ever-increasing number of chronic ailments and an ageing population, the number of healthcare professionals remains constant. To combat this, the UK has introduced a myriad of initiatives to foster and speed up digital transition in the healthcare system.
But it still faces two concerns: the cost and complexity of market penetration. Lifen has been working to offer solutions to these issues by simplifying medical data exchanges since 2015.
The future for Lifen
Lifen aims to offer consumer-centric healthcare solutions that integrate health into everyday life and reduce the need for time-consuming, traditional interventions.
The startup also plans to hire 200 new employees in its technical, product and business development teams over the next 18 months. By 2025, Lifen aims to have its technologies installed in more than 1500 hospitals and have 200 eHealth solutions.
On top of Lifen’s document product, it has also integrated machine learning. The company now wants to expand beyond messaging to a digital platform that is fully integrated into the healthcare industry.