Medtech Gripable raises $105 million in funding

London-based digital health and rehabilitation startup Gripable has completed a major funding round.

Gripable offers rehabilitation programs for people with diseases of the nervous system and musculoskeletal system. Diseases of the musculoskeletal system, for example, joint diseases such as rheumatism and osteoporosis, back diseases such as lumbago and soft tissue diseases such as fibromyalgia.

The company has just completed a funding round that resulted in investments of 8.5 million pounds, equivalent to 105.22 million kroner. The investments will enable Gripable to expand its data platform and processing services, with a focus on Europe and the United States, it reports. Business Cloud.

Physical and cognitive rehabilitation

The company recently entered into a partnership with Medline, a leading distributor of medical equipment. Gripable wants to make outcome-based care scalable and accessible to everyone, as well as offering effective and personalized treatment.

Digital care combines specially designed portable sensors with attractive application software to give more patients access to long-term physical and cognitive rehabilitation, yielding better results while reducing costs.

The UK’s leading

To date, more than 8000 people have used the Gripable platform and the company has established itself as a leader in the UK teleprocessing area. The company has signed partnerships with multinational pharmaceutical companies and distributors.

Patients with physical and cognitive disabilities require targeted therapy to improve their quality of life. “Simply put, the more rehabs they do and the more they follow professional guidelines, the better their chances of having a better outcome, with a wealth of evidence to back it up,” says Gripable co-founder and CEO. Paul Rain to Businesscloud.

He also says that due to costs and poor logistics, current health systems cannot deliver the amount of treatment needed and few patients are getting what they need to improve.

Funding speeds up work

“This is a common problem for hundreds of millions of patients worldwide, with ineffective care options costing health systems not only hundreds of billions of dollars each year, but the opportunity for people to live their lives to their full potential,” Paul Raine told Business Cloud.

He believes the new funding will accelerate Gripable’s work to provide patient care and give millions of people the opportunity to connect to their personal clinic at home.

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Read more: [Dagens PS]