Founda Health, an emerging leader in the healthcare connectivity space, has raised $15m from a group of healthcare and fintech entrepreneurs. Launched just under two years ago, the company has now secured one of the largest seed stage investment rounds in European healthtech due to strong traction and opportunities in the market. This round unlocks international expansion and finances further development of the platform and integrations with Electronic Health Record (EHR) systems.
Founda Health creates a bridge between the systems used by healthcare providers and innovative health applications around the world. This is the easiest way for collaboration between systems and providers, without high setup or maintenance cost.
Platformization is a proven model from fintech and other industries to radically cut costs and boost innovation. An example: it requires multiple fintech solutions in the background to technically integrate, collaborate and process a secure credit card transaction. Nowadays, this process of making a payment, is very intuitive for the consumer. The same connectivity, collaboration and security standards are currently being introduced by Founda to healthcare, combined with a completely new business model.
The success-based pricing model enables faster collaboration between hospitals and healthcare applications and has a positive effect on the economics for all parties. Founda Health works with easy-to-understand contracts and doesn’t commit to just one system or application, but rather brings them all together on one platform. The platform enables hospitals and doctors to collaborate with health apps and exchange data. They can select their preferred applications and easily test and implement them into their workflows with our platform without any costs. The Founda Health service will always be free for healthcare providers and they can request an unlimited amount of connectivity. Our partnerships with EHRs allows for this new form of collaboration.
Serial entrepreneur and founder at Founda Health, Jan Joost Kalff, spoke about the investment:
“We’ve partnered up with forward thinking players and rebels who want to join us and push the platform mindset in healthcare. The past year we’ve seen a steep rise in demand from international systems and health apps for our platform model since the economics and shifting dynamics create a no-brainer for them. Hospitals can start to pick and choose apps to collaborate with and eventually the patient benefits from this development.”
Founda Health supports hospitals to innovate faster and connect to the best healthtech solutions. We help healthcare applications scale by connecting them with international EHR systems and opening new markets for them, enabling hospitals to choose the best possible apps from a big offering. For the EHR partners we take care of all required localisation per market.
The founding team brings a large amount of experience from fintech and healthcare. Jan Joost Kalff:
“We see a lot of parallels between our experience building payment platforms and the requirements for healthcare. We built and scaled some of the largest payment platforms on the globe and know the level of localisation that is needed; every country had different rules to comply with and payment methods to integrate. We can safely say we know what it takes to take care of highly sensitive data and have seen first-hand the positive impact it can have on an industry and the end user when platforms are introduced.”