Avi Medical receives 28.5 million euros for the family practice of the future
- New concept combines the best of medicine and software
- First two practices open in Munich – gradual expansion planned across all German regions
- Financing round led by Berlin-based digital healthcare fund Heal Capital and New York-based Addition
Munich, 7 June 2021. The first two GP practices of digital healthcare company Avi Medical already opened in Munich in April. They represent a new, modern style of treatment: patient-friendly, technology-supported and with a special human touch. The new concept of the three founders – a medical doctor, a product expert and a serial founder – also convinced international investors, who have now provided Avi Medical with 28.5 million euros in a Series A financing round led by Berlin-based digital healthcare fund Heal Capital and New York-based Addition, an early and growth stage investment firm.
Vlad Lata, Christoph Baumeister and Julian Kley founded Avi Medical in 2020 with the goal of reshaping primary care for the people in Europe. Evidence-based medicine in combination with the targeted use of modern technologies go hand in hand in Avi Medical’s concept – in the interest of the best possible treatment for each individual patient. “Avi Medical is a pioneer in the field of primary care,” co-founder and CEO Vlad Lata said. “The vision that drives Chris, Julian and me is to provide primary care that enhances the doctor-patient contact with modern digital capabilities. Not as an end in itself, but to support patient treatment wherever possible in a meaningful way.” Avi Medical is the first company in Germany to completely dovetail medicine and software and provide its doctors with a finished overall concept from a single source.
Avi Medical’s new doctor’s office concept is designed to offer patients contemporary treatment according to the latest medical standards. The doctor’s visit is made easy thanks to the straightforward online appointment booking process. Patients will soon be filling out their medical history form at home on their smartphone, not in the waiting room. The integration of telemedicine ensures maximum convenience: Depending on the reason for treatment, patients may choose to have a video call from home with their doctors instead of coming to the practice in person. Their opening hours – on certain days as early as 7 am or as late as 8 pm, and without a lunch break – are designed so broadly that all patient groups can quickly find their preferred appointment. Avi Medical treats all patients equally and does not differentiate between those with statutory and private insurance.
The physicians in the Avi Medical practice network are fully employed and therefore have no financial risk. They benefit from flexible working time models with regulated and plannable working hours, as well as the possibility of communicating with patients from remote working. Thanks to state-of-the-art technology support, their administrative workload is significantly reduced – leaving the doctors with more time for their patients.
In addition to Heal Capital and Addition, the financing round also includes existing investor Picus Capital, Vorwerk Ventures, ID Invest, 3VC, and Claret Capital Partners, as well as numerous business angels, including Danies Dines (UI Path) and the founders of Flatiron Health, Alasco, Finn.auto, Freeletics, M4Capital and Inventures.
Avi Medical will use the capital now received in the financing round for the further development of software and for accelerated growth of the practice network throughout Germany. The first two primary care practices under the Avi Medical brand are located in the heart of Munich at Luisenstrasse 1, right next to the main train station, and in the Hofstatt shopping center in the old town. On June 7, a third practice will open in Schwabing’s Herzogstrasse. Additional practices will follow, first in Bavaria, then throughout Germany. “In the long term every patient will have easy access to high-quality, state-of-the-art medicine,” Vlad Lata said.
Eckhardt Weber, General Partner at Heal Capital, a leading European health tech fund, said, “We strongly believe that technology can redefine healthcare and guarantee better, more cost-effective and simpler patient care. Avi Medical’s concept of timely care ultimately benefits all stakeholders: patients, physicians and insurers.”
Jason Schneider of Addition said: “Patient needs have changed during the pandemic and accelerated the digital transformation in healthcare, especially with regard to innovation. We’re excited to partner with the Avi Medical team as they work to convert patient-doctor interactions into holistic, personalized digital experiences.”
For Robin Godenrath, Founding Partner & Managing Director of tech investor Picus Capital, Avi Medical has a compelling approach. “We prefer to work with exceptional founding teams who have identified a massive market opportunity and are determined to challenge the status quo and shape the world of tomorrow. It was time to bring a breath of fresh air to GP practices. Ultimately, this will benefit everyone.”
More information about Avi Medical is available at www.avimedical.com.
We’re hiring: https://www.avimedical.com/jobs
About Avi Medial:
Creating a whole new patient experience at the doctor’s office. Delivering the best possible medical care. Integrating state-of-the-art digital tools. All with a human touch: Avi Medical is building patient-centric, technology-enabled medical practices that deliver an unprecedented convenient, personalized and holistic digital patient experience. Avi Medical GmbH was launched in January 2020 in Munich, Germany.
About the founders:
Vlad Lata, CEO Avi Medical, co-founder of KONUX – Vlad is a firm believer in the “Power of Algorithms” and that smart data usage will significantly improve our quality of life. As co-founder and CTO of KONUX, he developed one of the first AI solutions deployed in Europe. For one of the most conservative industries of all – railroads – he recognized and unlocked the huge potential of data. Inspired by this success, Vlad took on another, much bigger – if not the biggest – challenge: Making people healthy, and keeping them healthy for the long term. It was time for a company that uses the power of data to help doctors achieve better medical outcomes.
Christoph Baumeister, CPO Avi Medical, co-founder of nello – Chris has co-founded two startups and served as CEO with a strong focus on product and marketing: at LOCUMI LABS, he developed an innovative last-mile parcel delivery solution. At nello, he launched a completely new smart home product for keyless home entry.
As a type 1 diabetic, he experienced first-hand how underdeveloped the German healthcare system is and how individuals can successfully take charge of their own treatment through knowledge of their own disease. This inspired him to create something better. Avi Medical became a matter of the heart for him: “Visiting the doctor must finally arrive in the 21st century.”
Julian Kley COO Avi Medical, doctor, former principal at BCG – With a family of doctors in his background, medicine was an early companion for Julian. After graduating from medical school at the University of Bonn, however, he asked himself a fundamental question: is our healthcare system properly positioned for the future? What would have to change? He decided to change perspective, gaining a better understanding of global healthcare systems, interrelationships and innovation with the strategy consultancy Boston Consulting Group. Working primarily for large corporations, he realized six years later that these companies would not save the healthcare system: They lacked either access to patients or the ability to use data properly. So he took the reins himself and became one of the founders of Avi Medical.