Sciety and Sciety Venture Partners invest EUR 1.5 million in Encare

Sciety, a leading Nordic investment company focusing on innovative life science and health tech companies, along with Sciety Venture Partners, invest EUR 1.5 million in Encare. In the funding round, targeting primarily existing shareholders, Sciety and Sciety Venture Partners made their second investment in Encare, supporting the company's continued expansion, product development, and entrance into new international markets.

Encare has developed a software solution that contributes to more cost-effective surgery while also reducing complications and saving lives. The software helps hospitals implement best practices throughout the entire care chain – from diagnosis and preparation to surgery and rehabilitation. Encare has a SaaS model (Software as a Service) and currently serves over 150 hospitals worldwide. The recurring revenue has increased by over 30% in the last year.

The raised capital will be used to increase revenue through up-selling to existing customers and sales to new customers. Encare will also focus on product development for localization, such as local hosting, which will enable expansion into more geographical markets, including the United States. 

Andreas Lindblom, managing partner at Sciety, commented, "Encare's innovative software solution has already proven its value in improving surgical outcomes and reducing complications. We are excited to support the company's ongoing growth and international expansion, as they work towards making a significant impact on global healthcare."

The market for clinical decision support systems was estimated at 1.5 billion dollars in 2022 and is expected to increase by up to 50% in the next five years. Encare sees strong international growth potential and, with the reinforced cash position, will be able to execute its planned expansion. Each year, more than 310 million major surgical procedures are performed globally. By reducing the number of preventable deaths and complications during surgery, billions of dollars in healthcare costs can be saved globally.

Contact

Andreas Lindblom, Managing Partner, Sciety: andreas.lindblom@sciety.se, phone 070-375 73 73.

About Encare

Encare is a health tech company that develops a SaaS solution that is improving the outcome of surgery. Encare's interactive, cloud-based solution 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 result 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 most prestigious prize in the world of surgery for his work with ERAS®, from the international surgical association ISS/SIC. 

About Sciety

Sciety is a leading investment company, committed to supporting the growth of innovative life science and health tech companies in the Nordic region. We invest alongside Sciety Venture Partners, comprising family offices and private investors, as well as venture capital firms. Our mission is to enable the full potential of life science innovations, helping to bring breakthroughs in healthcare to people all over the world.