The Association of German Private Health Insurance (PKV) is launching a new venture capital fund to drive the quality of medical care in Germany through digitalisation.
Participating health insurance companies within the association will provide a target volume of €100 million to the Heal capital fund.
Berlin-based digital health investors Heartbeat Labs and Flying Health will be managing the fund. The two firms said they are jointly investing a one-digit million euro amount, but declined to disclose the exact figure.
WHY IT MATTERS
The fund will support startups developing digital innovations for the healthcare sector, focusing on areas including digital health applications, telemedicine, digital prevention and the digitalisation of care.
“Today you can’t think about good, professional medicine and modern healthcare without including digitalisation,” said Dr Markus Müschenich, managing partner at Flying Health. “With the PKV’s fund, we are driving the digital transformation of the German healthcare system and ensuring that digital innovations reach the healthcare system more quickly.”
THE LARGER CONTEXT
Heartbeat Labs and Flying Health are already active investors with a focus on the digitalisation of the healthcare system in Germany.
Heartbeat Labs is a digital health platform that brings together entrepreneurs, tech experts, and physicians. Since 2017, it has founded six companies and invested in nine digital health companies.
Since 2012, Flying Health has developed into a leading digital ecosystem in the healthcare industry, and develops digital healthcare models together with renowned players in the healthcare industry through strategic partnerships.
ON THE RECORD
“This new fund is further proof that the private health insurance is a driving force for innovation in the German healthcare system,” said Ralf Kantak, chairman of the PKV Association. “The decisive goal for the private health insurance is that the new digital developments contribute to better care in Germany. We are pleased with having found Heartbeat Labs and Flying Health as our partners. They combine great health expertise and digital competence with a strong network in the investment and startup industry.”
“We are convinced that many more patient-oriented solutions will benefit from heal capital, while synergies with the private health insurance companies will provide meaningful access to the health market,” said Eckhardt Weber, founder and managing director of Heartbeat Labs. “We look forward to working together to support even more digital health entrepreneurs and accompanying them on their way into the healthcare system.”