January 15, 2020 + Jessica Di Palo
5 Min read
MTIP has invested in Oviva, the leading digital provider of Type II diabetes treatment in Europe.
MTIP, the European specialist investor in Healthtech scale-up companies, has acquired a minority stake in Oviva, the leading digital provider of Type 2 diabetes treatment in Europe. MTIP led the $21 million round, which also included new investor Earlybird and existing investors AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech.
The new capital will be used to further develop Oviva’s technology and expand in Europe to serve the millions of patients not accessing treatment today. It brings the total amount raised by Oviva to date to $34m.
Headquartered in Switzerland, Oviva offers an evidence-based digital solution to stop the progression of and reverse Type 2 diabetes and obesity-related conditions. Patients receive tailored nutrition advice and personalized coaching via their phone. Oviva’s technology-supported treatment has consistently demonstrated higher patient uptake, retention and outcomes at lower costs compared to face-to-face therapy. Oviva has treated 90,000 patients to-date across the UK, Germany, France, Switzerland and the UAE, consistently doubling each year for the last 3 years.
As Lucy Jones, Oviva Clinical Director and one of the UK’s most influential dietitians attests: “Behavior change is the safest and most cost-effective way of preventing and managing diet related health conditions including Type 2 diabetes. Our technology, empowers patients to take a leading role in managing their health, improves compliance and outcomes.”
The Company’s target market includes patients with Diabetes, considered to be pre-Diabetes or obese. Globally, an average of one in eleven people has been diagnosed with Diabetes – nearly double the proportion of the population with Diabetes in 1980 (4.7%). According to WHO country estimates, over 50% of both men and women in the WHO European Region are overweight, and roughly 23% of women and 20% of men are considered obese.
MTIP brings extensive experience in the European digital health segment, crucial to supporting the Company’s next phase of growth.
Dr. Kai Eberhardt, cofounder and CEO of Oviva commented: “We are delighted to partner with MTIP. The new financing allows us roll out our uniquely effective solution to large patient populations rapidly across Europe and further develop the underlying technology to better address patients’ unmet needs.”
Dr. Christoph Kausch, CEO of MTIP commented: “Oviva is a superb example of a digital health company with the potential to transform the lives of millions of people across the globe for the better. We’re excited to become partners in their mission to improve access to effective diabetes- and obesity-management solutions in this next phase of the Company’s growth.”
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