Winner Deal of the Year 2016Acquisition International: "Biovotion’s innovative solutions connect patients and providers throughout the continuum of care. We profiled the firm and explore the series A financing which has supported the firm’s continued growth during 2016".
Founded in 2011 and based in Switzerland, Biovotion was created by experts in wearable monitoring and is today a leading wearable physiology monitoring company, providing integrated solutions with connected hardware and value-added data analytics services. The company actively promotes the consumerisation of healthcare, providing solutions that integrate medical grade quality and reliability with ease of use and design of the consumer markets.
Biovotion’s digital health solutions support users in keeping a healthy lifestyle, improve healthcare treatment outcomes, and aiming to reduce cost of health provisions. Biovotion’s wearable solutions have been awarded with multiple international, prestigious prizes and high-caliber endorsements, including an XPrize award in late 2014. Its management team is internationally recognised for its expertise in wearable monitoring.
Earlier this year the firm announced the first closing of its ongoing CHF10M Series A financing round. The round is led by Swiss Re, with existing investor STMicroelectronics NV participating in the round as well.
Speaking at the time, Dr. Andreas Caduff, CEO and founder of Biovotion, outlined how the funding would help the firm and support its continued growth. “This investment marks an important strategic milestone for Biovotion. We are excited to partner with Swiss Re and collaborate on areas of mutual commercial and strategic interest as well as to
benefit from continued support of STM.”
The second closing of its ongoing CHF10M Series A financing round with the addition of Harmony Medical Inc., a Hong-Kong based investment company, to its shareholder group, was announced in November.
Harmony Medical Inc. specialises in global healthcare investments and supports its portfolio companies in accessing the healthcare markets in China, Hong Kong and several other markets in the region. Dr. Caduff discussed his pride in partnering with the firm at the time of the announcement. “The addition of Harmony marks another important strategic milestone for Biovotion. An aging population and the requirement for significant improvements in reach and quality of the healthcare systems make the Asian markets very attractive for Biovotion’s offering.
Harmony Medical has an unparalleled network in the region and will be of great support in our effort to exploit these business opportunities.” Moving forward, Biovotion Ltd is preparing the introduction of its clinical-grade wearable monitoring platform in the medical markets in collaboration with leading global commercialization partners, and will use the funding raised from the financing to support these steps.