Oviva, the health technology startup that provides a digital solution for the treatment of type 2 diabetes in Europe, has raised $ 21 million in Series B funds.
Leading the round is MTIP, with the participation of the new Earlybird investor and existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech.
Oviva He says the new capital will be used to further develop its technology and continue expanding in Europe to serve more patients who are currently unable to access treatment. It brings the total collected by Oviva to date to $ 34 million.
Claiming to have treated 90,000 patients in the last three years in the United Kingdom, Germany, France, Switzerland and the UAE, Oviva offers an "evidence-based" digital solution to stop progression and reverse type 2 diabetes and conditions related to the obesity. Patients receive personalized nutritional advice and personalized advice through their phone, at lower costs and better results compared to face-to-face therapy, says the startup.
"With your consent, your doctor sends Oviva your diagnosis, relevant laboratory reports, background and contact details," explains Oviva co-founder and CEO Kai Eberhardt. “Then we will contact you, either directly to ask you to download our application or by phone, on board and start the treatment. Then, it is usually treated for four to nine months, depending on your condition and local reimbursement. After that time, you can continue, paying yourself or get another referral (usually annually, since our treatment for behavior change is recommended in most of the guidelines every year and reimbursement is provided every year). "
Eberhardt says that in most of the countries where Oviva currently operates, it is the patients' health insurance that pays for the service, and in the United Kingdom the NHS pays for access. "Usually, for patients to access our treatment a prescription is required," he says. "Most referrals are made by the patient's general practitioner, or in some cases also by specialists, for example, an endocrinologist. A typical scenario is that the patient's physician makes a referral when they are diagnosed, or as part of a regular check of your chronic condition. "
Once Oviva has sent the patient's "goal", such as weight loss, better blood sugar control, etc., and the patient has been approached, they begin to record anything that is related to their style of life and disease This includes photos of meals, activity, weight and symptoms. They can also connect a step counter, a scale or a blood glucose meter to the application to complete most of the data collection automatically.
"You will agree on specific behaviors that you want to change in the course of treatment with your dietitian (for example, more vegetables and fruits, portion control, activity levels)," says Eberhardt. “Your dietitian and a group of colleagues will support you to achieve those goals. On the one hand, that is motivation and emotional support, on the other hand, with specific pointers aimed at your needs, p. around how meals are timed and portion sizes during the day to avoid low or hunger periods. "
In the course of treatment, a patient can also make videoconferencing appointments with their dietitian and review a video curriculum and other content that supports the management of their condition, as part of a "behavior change trip."
Meanwhile, Christoph Ruedig, a partner at AlbionVC, says that despite compelling evidence that digital treatments improve patient access and outcomes while reducing costs for health systems, "Europe is investing a fraction "in digital health compared to the United States" We are excited to continue to support the accelerated deployment of Oviva in Europe, "he says.