Better Care Enters the US with a View to Billing 5 Million in 2024

Better Care gains momentum. The biotechnology company based in Sabadell (Barcelona) is taking steps to continue expanding its data management business thanks to the recent green light granted by the European Parliament to the establishment of a European Health Data Space.

Against this backdrop, Better Care is finalizing its entry into the United States and plans to multiply its income by four, up to five million euros, as Xavier García Ordoñez, CEO of the company, has informed PlantaDoce.

“The new regulations, in addition to being necessary, will mean more transparency and security for the patient and professional, at the same time that it gives technology companies the ability to continue innovating and developing a better system,” said García.

Better Care currently operates in 35 hospitals in Europe and began operating in one in Canada last year. The company also manages the license for 4,000 beds and plans to close 2024 above 6,000 beds. With its imminent entry into the United States, where it has already set up a subsidiary, the company will extend its presence to fifteen countries.

Preferably focused on public health, Better Care has developed its expansion and growth with its own funds, until in 2021 they opened capital with private investors and family offices . The company has already closed an investment round of 1.5 million euros and plans to open a new one in 2025 to finance its expansion in the United States.

Better Care plans to open a financing round of ten million euros in 2025 that will go towards its expansion in the United States

“With the growth plans we have for this year, we will have more budget to continue investing in implementing new technologies and having the necessary licenses, which are very expensive,” the manager points out. With the new round, Better Care plans to raise more than ten million euros and successfully develop its business in the US market.

The growth of the biotechnology company will also be reflected in its workforce, which currently consists of 25 employees. “When I joined as CEO of the company, we were only four people and now we hope to hire more to boost our growth,” says García, who joined Better Care in April 2021.

The company was founded in 2010 as a spin off of the innovation area of ​​the Parc Taulí Hospital in Sabadell. The biotechnology company develops software solutions based on artificial intelligence (AI) that allow optimizing the loading of a patient’s data, both to make decisions about their health and to be part of the research process of a pathology.

With new European data use legislation, patients and doctors will have greater security when using the software. One of Better Care’s most recent big implementations was the addition of their “in-the-box” technology, where the patient can purchase a medication and the pharmacist access their data, but only for a short period of time as it then self-destructs. for patient safety.

Better Care also operates domestically, after acquiring DigitoMedica and monitoring the patient’s follow-up once they leave the hospital

“We as a company do not keep the data, but it is only the patient who decides with whom to share it,” says the manager. With Better Care, health professionals can cross-reference data between different medical specialties, regardless of where the patient is, be it one hospital or another.

At the end of 2022, Better Care acquired DigitoMedica , a company specialized in the implementation of technological platforms for health, which includes the management of monitored patients in primary care, specialized care, and home hospitalization. The acquisition marked Better Care’s entry into the home market, which it has managed successfully over the years.

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(Featured image by Marcel Scholte via Unsplash)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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