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Image credit: Doktor24 Group

Stockholm-based Doktor24 Group, with the digital healthtech company Platform24 and the care provider Doktor24, announced that it has raised an additional approx €40M in a funding round to expand its ownership base. 

Who has invested in this round?

The round saw participation from Doktor24 Group’s main owner Patricia Industries (part of Investor AB) and Apoteket AB. In addition, new shareholders, including investment company Stena Sessan and Ernström & Co also invested in this round.

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Kristina Patek, Senior Investment Director at Stena Sessan, explains, “The whole world is struggling today with increased health care needs of the population, long waiting lists, and rising health care costs. To handle the challenge, digitalisation is crucial, and Doktor24 Group is uniquely positioned to unleash the potential in healthcare and create more cohesive, efficient and accessible care that the whole community benefits from.”

Smart & seamless healthcare

Doktor24 was founded in 2016 with the goal of creating accessible and sustainable care with the patient in focus. The company claims it has developed a health network system by integrating digital and physical care service providers. It operates through a subsidiary, Platform24, which is a developer of technical solutions for digitally integrated care for healthcare providers.

Doktor24 offers digital visits with short waiting times to doctors, nurses, and psychologists. It helps with life-related problems, everything from allergy problems and urinary tract infections to depression and anxiety. 

The company, since May 2020, has also been available at several pharmacies around the country where it offers vaccination, sampling, and healthcare. It collaborates with health centres, emergency rooms, and sampling units throughout Sweden. Besides, it also offers healthcare through its Doktor24 Clinics at Apoteket in Stockholm. Apoteket AB is a state-owned pharmaceuticals retailer in Sweden.

The company’s doctors, nurses, and psychologists have a Swedish ID, and many combine their job at Doktor24 with work in physical care. With more than 300,000 patient cases per month, Doktor24 provides solutions for automated care guidance and patient communication in the Nordic region. Its customers include Nordic healthcare regions, insurance companies, and care providers.

Funds for expansion in Europe

With the raised capital, the company looks to expand in several markets as well as invest in its digital platform, which provides an integrated care chain throughout healthcare. The development of services and products for chronic care is also to be accelerated.

Speaking on the expansion, Daniel Lillienau, CEO of Doktor24 Group, says, “I am very happy to welcome Stena Sessan and Ernström & Co on board our journey and further expansion in several new markets in Europe. A radical change is currently taking place in healthcare, and we see a huge demand for our solutions, both in Sweden and internationally. We will now invest further in our product and the broadening of the platform. In Sweden, we will also focus even more on partnership, and we welcome other healthcare providers to join and help build the leading digi-physical health network.”

A brief about the new shareholders 

Stena Sessan is an investment company that is a part of the Stena sphere and is owned by the Olsson family. Through collaborations with other owners, company managements and organisations, they are involved in developing businesses to meet the challenges and needs of the future. The investment in Doktor24 Group is part of Stena Sessan’s strategy and goal of building a well-diversified portfolio of companies with development opportunities for future generations.

As for Ernström & Co, it is also a family-owned investment company that, in active collaboration with other partners, owns and develops companies to create long-term value. It is industry-independent and invests primarily in growth companies, listed as well as privately owned companies. Ernström’s main holdings are Platzer, Ernströmgruppen, Nederman, Collector, 24Storage, Buddi, CellMark, Apotea, and NA-KD.