Devicare, a Spanish medical device company, receives €3M

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BY : Diego GutiérrezMay Tue, 2017
Devicare, founded in 2012 in Barcelona, is a company specialising in innovative medical devices for the home care of the chronic patient, under the concept of Remote Patient Monitoring (RPM).
About Devicare

Devicare is a technology company that develops devices for the home management of chronically ill patients. Founded in 2012, since January it has been marketing Lit Control in Spain, a device for monitoring urine pH, and food supplements that help balance it, allowing patients to self-manage urinary diseases such as kidney stones, overactive bladder or cystitis and prevent relapses.

In December 2016, Devicare closed its first contract for licensing its products in Mexico, with the firm InnovaSalud and is currently in advanced negotiations with other distributors to enter Italy, Germany, Canada and other Latin American countries.

Devicare already raised a small round of €850,000 in June last year led by Emesa Corporación Empresarial, Emilio Cuatrecasas' investment company, which controls 5% of the company.

In addition, Devicare has also recently secured a loan to  270,000 (ENISA). In this context, since its foundation, Devicare has already raised a total of €4.5 million in funding.

Devicare receives a €3M round of funding

In this second round of investment of €3M, several family offices and corporate partners with high knowledge in the world of health have entered the company, such as Juan Knuth (Palex Medical), the Gaya family (Eladiet), the Xiol family (Peroxfarma), and the Serra family (Boyser), among others.

In the words of Rosendo Garganta, founder and CEO of Devicare "This profile of investors is undoubtedly of great strategic contribution to the growth of our company".

The market for remote patient monitoring

The global market for Remote Patient Monitoring , is a market with a lot of potential, in 2016 it grew by 44% and it is estimated that the number of monitored patients will reach 50.2 million in four years. Investors have bet heavily on this sector in the last year.

Devicare, a Spanish medical device company, receives €3M

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