Cera raised $320M to make long-term care in hospitals obsolete –
Cera, a U.K. provider of healthcare inside peoples homes augmented by a platform that allows carers to monitor a patients health and potentially flag problems, has raised $320 million (\xa3260 million) in an equity and debt financing round, split roughly 50/50.The equity side of the funding round was led by Ceras existing investor Kairos HQ, alongside the Vanderbilt University Endowment, Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact, 8090 Partners, technology investor Robin Klein (of LocalGlobe fame) and others. U.S.-based startups in the sector include GYANT, which has raised $23 million, Neteera ($8.5 million) and Binah.ai ($13.5 million).Ceras proprietary system is less tech-heavy, but all the same is clearly on the path toward greater automation, in the same way that Uber and Lyft drivers may one day be replaced by driverless taxis.The company, which also operates in Germany, delivers care, nursing, telehealth and prescription delivery services in the home, and claims it is 10-times cheaper than servicing a patient in hospital. Staff collect patient symptoms and health data in the home, which is then used to predict deteriorations in conditions before they occur, triggering medical interventions. The company claims this can reduce hospitalization rates by over 50%, and has other benefits, such as reducing patient falls, infections and improving medication and prescription compliance.With hospitals under strain after the worst of the pandemic, and staff at a premium, its likely that these technology-augmented services will take off amongst healthcare providers.Dr Ben Maruthappu MBE, who launched the startup in 2016, told me: What we are doing is just mirroring what has happened in other industries, such as ride-hailing or other services that come straight to your door. Its like when ride-sharing had a breakthrough when it became more accessible to non-taxi drivers, he said.Maruthappu added that the company intends to eventually move toward a SAAS model, where it would allow other tech and care providers to use its services.