4 August, London: There was (Cera Care Limited), Europe’s largest digital-first home healthcare provider, today announces that it has raised approximately $ 320 million (£ 260 million) in equity and debt to go from 15,000 to 100,000 home patients every day. freeing up the NHS beds and increasing the UK’s care capacity by the equivalent of over 50 hospitals. The success of the increase consolidates Cera’s role as a leading player in the first digital home healthcare market in Europe. More generally, Cera is also one of the fastest growing companies on the continent.
Cera operates in the UK and Germany, providing technology-backed care, nursing, telemedicine and home prescription services – around 10 times cheaper than a patient receiving treatment in a hospital, thanks to its technology-based model. Cera’s assistants and nurses collect patient symptoms and health data during home appointments, which its AI algorithms use to predict deterioration of condition before it occurs, triggering early health interventions to prevent malaise. people. This technology has reduced hospitalization rates by an unprecedented 52%, predicted up to 80% of admissions seven days early, reduced patient falls by ~ 17%, urinary problems by ~ 47%, ~ 15% and also helped improve medication and prescription compliance in older patients by 35%.
Financing comes as The waiting lists of the NHS hospitals reach a record of 6.6 million and the world continues to adapt to coexistence with COVID-19, exacerbating the need to provide quality, technology-based home care. Cera’s first digital home health care frees up much-needed hospital beds by helping the NHS discharge healthy patients earlier and allowing them to live independently in their own home longer.
Thanks to a combination of proprietary technology and compassionate healthcare professionals, Cera has grown rapidly, achieving 100-fold growth in less than three years with hundreds of millions in annual revenue and currently serving 15,000 patients per day, the equivalent of bed capacity. more than 40 NHS hospitals. The new capital will be used to increase the number of patients being treated by Cera by more than 5 times by 2025, furthering Cera’s mission to enable patients to live longer and healthier lives in their homes through technology. It will also be used to expand the company’s investments in nursing, telemedicine and prescribing services, both in the UK and internationally, to provide more health services per family. This will reduce hospital waiting times, keep elderly patients out of the hospital and ease the pressure on national health services.
The funding round was led by Cera’s existing investor Kairos HQ, together with Vanderbilt University Endowment, Evolve Healthcare Partners together with Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact, 8090 Partners, technology investor Robin Klein and many other international institutional investors. Goldman Sachs International and JPMorgan Securities PLC acted as placement agents for Cera for the equity portion of the increase.
Launched in 2016 by Dr Ben Marutappu MBE, Cera has nearly 10,000 employees in the UK and Germany and holds over 300 contracts with the NHS and local administrations. Its advisory board is chaired by Sir David Behan, the former CEO of the Care Quality Commission. Cera’s technology is also used by over 2,000 care companies that collectively provide over 1 million home appointments per week.
On the fundraiser, Dr. Ben Marutthappu MBE, CEO and co-founder of Cera, commented: “Since the launch of Cera in November 2016, the company has grown at an unprecedented pace for the industry, benefiting countless lives and demonstrating the need for technological advancement in the healthcare sector. Receiving such significant financial support during this time of global economic volatility is testament to the strength of Cera’s business model, our innovation and our commitment to revolutionize healthcare. We are now in pole position to be able to use our unique technology to expand what we do for patients in need of care around the world, while alleviating the pressures on public services. ”
On Cera’s services, Christine Wand of Suffolk, assisted by Cera, commented: “Cera completely changed my life. Managing my health issues has been really difficult, but now that I have a Cera assistant and their app, their technology has helped me stay on top of my health and well-being and has greatly improved my outlook on life. . My caregiver is more like a friend – she is so reliable, so friendly and she truly understands me and my needs. My caregiver also organizes my meds that have taken a huge burden off both my shoulders and my family members, and I’m able to show me a nurse with the click of a button whenever I need them. I don’t really know what I would do without Cera’s help.
Tim Creed, Head of Private Equity Investments at Schroders Capital, commented: “Population aging, the post-pandemic recovery and severe staff shortages have created a number of problems facing healthcare workers and governments. Cera’s proposal has been shown to deliver results to address these challenges. Cera’s digital-first home healthcare is a unique offering that we believe needs to be rolled out far and wide to provide a tangible solution to hospital waiting times, building a larger workforce, and helping our older communities. to receive quality and genuine assistance. We are proud to be a partner of Cera and to play a role in supporting their mission of enabling people to live longer and better lives in their homes through technology ”.
Sir David Behan CBE, chairman of the Advisory Board of Cera and former CEO of the Care Quality Commission, commented: “Governments around the world are looking for solutions to ongoing challenges in the healthcare sector. Wax’s blend of cutting-edge technology and truly compassionate caregivers represents the future for health and social care, in the UK and beyond. Cera has already transformed the lives of tens of thousands of people, helped the UK government hire caregivers during the COVID-19 pandemic and created and implemented technology that offers peace of mind to caregivers, the people they care for. and their families, while providing them with the freedom to live their lives in the comfort of their own homes. The next chapter of Cera will bring it further to more people in need of treatment, more countries and with more technological innovations. “
For more information visit https://www.cerahq.com/
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Laura Burns, Head of PR
Notes to editors:
Cera currently provides home healthcare services to over 15,000 patients in the UK and Germany every day, which equates to the capacity of 40 hospitals. By 2025, Cera aims to serve 100,000 patients every day.
For comparison, the NHS has an average of 140,540 hospital beds in England with an average occupancy rate of 86.3% (page 30).
Cera is a digital-first home health care company providing care, nursing, telemedicine and repeat prescriptions. Cera’s mission is to enable patients to live a longer and better life in the comfort of their homes, saving the need to go to hospital. Cera has grown 100 times in less than three years, making it one of the fastest growing companies in Europe.
Cera’s team of assistants and nurses delivered over 25 million home care appointments, visiting more than 15,000 patients per day, on behalf of 300 NHS and local governments, a capacity equivalent to 40 NHS hospitals or 1,000 nursing homes. Cera’s technology is also used by over 2,000 care companies that collectively provide over 1 million home appointments per week.
Cera was co-founded by entrepreneur, physician and policy expert, Dr. Ben Marutthappu MBE, and its advisory board is chaired by Sir David Behan, the former CEO of the Care Quality Commission. Cera’s technology and network have been recognized by industry awards, including Deloitte Fast 50 (# 8 in 2021, # 26 in 2020), Sunday Times Fast Track, Most Outstanding Home Care Provider of the Home Care Awards. Ben was named a finalist at Ernst & Young’s 2021 Entrepreneur of the Year Awards.
Growth in the numbers of Cera:
- 100-fold growth in less than three years, with hundreds of millions in annual revenue
- 25 million home appointments delivered to date
- 40,000 home appointments provided to over 15,000 patients every day
- Over 2,000 companies using Cera technology, collectively providing 1 million appointments from home each week
- Nearly 10,000 Cera employees in the UK and Germany
The impact of Cera on health outcomes in numerical terms includes:
- 52% reduction in hospitalization rates
- Drug adhesion increased by 35%
- ~ 17% reduction in falls and ~ 15% reduction in infections
- ~ 47% reduction in urinary problems
- Predict up to 80% of admissions seven days in advance
- Within 6 weeks, Wax technology reduces the problems of greatest concern by 60 +%
Other benefits of Wax technology include:
- The Cera app reduces an assistant’s administration and paperwork by 4 times
- Cera’s technology improves employee net promoter score by 35 points
- Cera recruits assistants at a cost 4 times lower than its competitors thanks to its technology
- Cera is able to provide care to patients on the same day as they are discharged from the hospital, helping to relieve pressure on hospitals
Goldman Sachs International and JPMorgan Securities plc acted as placement agents for Cera.
Goldman Sachs International and JP Morgan Securities plc, each of which is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK, are acting solely for Cera and no one else in relation to the private placement capital and will not be liable towards anyone other than Cera for the provision of the protections offered to their respective clients or for advice in relation to the private share placement or any other matter referred to in this announcement.
Contacts at Goldman Sachs: Khamran Ali, Silvia B Caldo
Contact at JPMorgan Securities plc: Sidharth Punshi, Manita Shinh
Cera secures £ 260m investment from investors including Kairos HQ and Schroders Capital – UK Technology Investment News
Source link Cera secures £ 260m investment from investors including Kairos HQ and Schroders Capital – UK Technology Investment News