H4D, a Paris-based developer of Consult Station, a connected telemedicine booth, completed a €15 million funding round.
Using, Consult Station healthcare providers can conduct a clinical examination and provide teleconsultations services to patients through videoconference. The company has carried out thousands of teleconsultations and self-checkups in corporate environments, town halls, and healthcare facilities in the Greater Paris area.
Supernova Invest, a venture capital firm that invests in disruptive technologies, led the financing round, with participation from the company’s existing investors Atoga, Aviva France, Bpifrance, and LBO France.
With these new funds, the company will accelerate sales in its current markets and develop new services around the Consult Station. The news funds will also help to launch the company’s U.S. business headquartered in Cambridge, Massachusetts.
According to the company, one in three doctors in France has consulted patients remotely since the start of the COVID-19 crisis. According to French National Insurance statistics, the number of in-person consultations has dropped by 40% for generalists, and by 50% for specialists.
Additionally, according to the office for national statistics (Drees), 3.8 million people now live in a ‘medical desert’ zone in 2018, up from 2.5 million in 2015, where in-person medical care has become increasingly difficult.
“We are seeing exponential growth in the global telemedicine space, both from public authorities and the corporate sector,” said Dr. Franck Baudino, founder & president of H4D. “As population health strategies increasingly focus on the accessibility of quality healthcare, H4D’s clinical telemedicine solution –centered around the Consult Station, complete patient exams, and physician training – is a true market differentiator.”
H4D works with many corporate customers, including Airbus, Vinci, Bouygues, and Carrefour.
Over 100 investors invested $930 million in telehealth companies Q1 2020, according to Mercom Q1 2020 Digital Health Funding Report. Among telehealth investors, High-Tech Gründerfonds, Lerer Hippeau, UnityPoint Health Ventures, Creandum, and Optum Ventures, led financing activity during the quarter, with multiple investments. Recently, Swedish telemedicine company Doktor.se has raised $50 million to expand its telehealth offerings.
Image Credit: H4D