Dubai: TVM Capital Healthcare, a specialist healthcare private equity firm headquartered in Dubai and Singapore, announced a $ 17 million investment in Munich-headquartered neurocare group AG (neurocare), a leading innovator in personalized mental health care, providing solutions to empower clinicians to deliver best care to their patients, the company said in a media release.
TVM Capital Healthcare's investment will enable neurocare to execute on its international growth plans, including expansion in the US and market entry into the Kingdom of Saudi Arabia, as well as support the development of new hardware and software innovations. It is the ninth investment of TVM Capital Healthcare to improve local access to quality healthcare in the MENA region, it added.
According to the release, neurocare, through its digital therapy platform (DTP), provides a holistic and patient-centric treatment for a variety of psychological or neurological conditions. It uses innovative mental health care methods and tools including sleep assessment, therapeutics, psychotherapy, TMS and neuro feedback, all supervised within a cloud-based solution, to empower clinicians and deliver individualized care. Following a detailed assessment of the patient's condition, neurocare supports clinicians in developing individualized therapy plans that are designed to lead to strong, sustainable clinical outcomes. neurocare’ s offering is used in the company’s own clinics in the US, Europe and Australia, as well as in a growing number of third-party clinics.
Globally, 13.0% 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, according to the press release. 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.
Tristan de Boysson, Managing Partner, TVM Capital Healthcare, stated: "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 improving 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 are looking forward to working together with the neurocare management team to realize this objective.”
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. The implementation of 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."
