German digital health startup Patient21 is targeting new markets after raising $108 million.
The company announced its Series C funding round on Monday (May 22), saying it would use the financing to enter new markets in Europe and develop its software platform.
Founded in 2019, Patient21 offers a mix of brick-and-mortar healthcare and digital services such as online booking, check-in and insurance.
As TechCrunch noted in an interview with company Co-founder and CEO Chris Muhr, Patient21’s platform is unique in that it doesn’t offer remote healthcare, but rather directs patients to its outpatients clinic.
The reason? Most of the company’s focus is — for now — on dental health.
“Dentistry inherently requires in-person consultations for comprehensive diagnosis and treatment,” Muhr told TechCrunch.
“The nature of dentistry involves visually inspecting oral health, utilizing diagnostic tools like x-rays and addressing emergencies promptly. These aspects are best served through onsite consultations to ensure the highest standards of care.”
As the company expands, he added, it is exploring how to integrate telehealth into its offering.
The funding round comes as consumers are increasingly interacting with their healthcare providers via digital means, according to recent PYMNTS research.
“The ConnectedEconomy™: Omnichannel Healthcare Takes Center Stage,” a PYMNTS report with research sponsored by CareCredit, shows digital engagement crossing age boundaries, with some big variations in terms of use and the digital tools favored by age groups.
For example, the most common digital healthcare activity in which baby boomers and seniors engage is using a website or app provided by their doctor to access healthcare information, check appointments and lab results or make payments,” something 21% of baby boomers and seniors report using.
Meanwhile, 39% of Generation X consumers, 63% of millennials, and 56% of bridge millennials use a mix of in-person and digital healthcare options, “showing that omnichannel healthcare is now a near-universal phenomenon in the United States,” the report said.
In all, 46% of all consumers in the U.S. — or roughly 119 million patients — now engage with their healthcare providers using a mix of patient portals, telehealth appointments, apps and in-person visits. And this share of so-called “omnichannel patients” is increasing each month.
Separate research by PYMNTS has also shown an increased desire among consumers for a unified digital healthcare platform that lets them do things like access insurance information, pharmacy services, schedule appointments and log into provider web portals.
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