Dubai and Singapore-based private equity firm TVM Capital Healthcare has invested $17 million in the Munich-based neurocare Group AG, a personalised mental healthcare technology company that provides solutions to empower clinicians to deliver the best patient care.
With this investment, neurocare aims to execute its international growth plans, including expansion in the US and market entry into the Kingdom of Saudi Arabia, and support the development of new hardware and software innovations. It is TVM Capital Healthcare’s ninth investment in improving local access to quality healthcare in the MENA region.
Tristan de Boysson, Managing Partner of TVM Capital Healthcare, stated in a press note shared by the company, “This investment is part of our strategy of investing in highly innovative, best-in-class healthcare solutions that improve access to quality care across the globe. A special objective of the firm is to improve the healthcare infrastructure in Saudi Arabia and the wider MENA Region. Most mental health clinics in this region rely on traditional behavioural and drug care therapy methods, thus creating a first-mover advantage for companies like neurocare, offering innovative mental health treatments with superior clinical outcomes. We are excited about bringing this offering to the people in the MENA Region and look forward to working with the neurocare management team to realise this objective.”
Through its digital therapy platform (DTP), neurocare provides a holistic and patient-centric treatment for various psychological or neurological conditions. It uses innovative mental health care methods and tools, including sleep assessment, therapeutics, psychotherapy, TMS and neurofeedback, all supervised within a cloud-based solution, to empower clinicians and deliver individualised care.
Thomas Mechtersheimer, Founder and CEO of neurocare group, added: “We are very pleased to announce the cooperation with TVM Capital Healthcare, a strong partner with deep industry experience. This partnership allows us to accelerate neurocare’s growth in our key markets in the US, Europe and Australia and expand our geographic footprint into new regions. Implementing our Digital Therapy Platform into clinics in the MENA region represents a new milestone in our company’s growth. I want to thank all involved parties, especially bm-t Thüringen, Aescuvest and Goerg Lawyers, for their advice and support in closing this financing.”
Following a detailed assessment of the patient’s condition, neurocare supports clinicians in developing individualised therapy plans designed to lead to strong, sustainable clinical outcomes. neurocare’s offering is used in the Company’s clinics in the US, Europe, and Australia, as well as in a growing number of third-party clinics.
Globally, 13.0 per cent of people are affected by mental disorders (WHO), causing tremendous direct and indirect costs, expected to increase from $2.5 trillion in 2010 to $6 trillion by 2030.
The number of patients diagnosed with mental illnesses doubled during the COVID pandemic. The treatment of mental health conditions remains nevertheless significantly lacking in most countries, leaving a considerable portion of the population without the necessary support, and presenting a unique growth opportunity for companies like neurocare offering innovative non-invasive treatments with superior clinical outcomes.
