Devicare closes first part of seed funding round
<p>The investment valued at €850,000 was led by Emesa Corporación Empresarial, owned by Emilio Cuatrecasas</p>
Devicare, a company specializing in remote management of chronic patients and development of medical devices, has announced the close of the first part of a seed funding round valued at €850,000 and led by Emesa Corporación Empresarial, the investment fund of Emilio Cuatrecasas, which will control 5% of the company.
Specifically, with this round Devicare will fund the Spanish launch of its first two products: Lit-Control and Tao-Control. The first is an innovative way to prevent the buildup of kidney stones with a device that patients use to measure the pH of their urine, as well as three food supplements that allow them to modify the pH to inhibit the kidney stones from forming. The other product, Tao-Control, is an innovative self-control system for patients taking oral anticoagulant treatments (OAT) like Sintrom® or Aldocumar®.
“This round will allow us to validate our model on the national market over the next 12 months, after which we hope to attract important strategic partners to help us accelerate and scale up the model internationally,” explains Rosenda Garganta, founder of Devicare. This medtech company, founded in 2012 and based at the UAB Biomedical Research Park, posted turnover of €215,000 in 2015 and expects to hit €500,000 this year. So, the company is negotiating to incorporate pharmaceutical, medical device and telecommunications companies into its equity holders to help position it as the benchmark company in remote management of chronic patients over the coming five years.
“Devicare has innovated in terms of technology and business model in this highly regulated sector of healthcare in under three years, and has already hit important milestones,” says Jordi Largo of Emesa Corporación Empresarial. This investment is the first from Emesa in the healthcare market and is in line with their strategy of committing to companies that contribute value to society.