Yazen Health, a telehealth platform focusing on obesity-related health conditions, has closed a €19.5 million Series A funding round. This substantial investment is set to facilitate the company’s growth beyond its Swedish base, targeting new markets such as Spain, Norway, and the Netherlands, with efforts to bolster existing pilot markets in the UK and Germany. As the healthcare landscape evolves, international expansion has become crucial for digital health platforms aiming to serve patients globally. With a multi-disciplinary approach involving professionals like doctors, coaches, psychologists, dietitians, and physiotherapists, Yazen Health aims to provide comprehensive care to patients across different regions.
In the past, Yazen Health focused primarily on the Swedish market, where it achieved profitability. The company’s ability to retain 70% of its 20,000 patients after one year indicates a successful engagement strategy and effective health outcomes. The recent funding will enable Yazen Health to replicate its Swedish success in other countries. Historical data shows that digital health platforms must navigate regulatory differences and cultural variations when entering new markets. Yazen’s strategy appears well-aligned with these challenges.
How Will the New Funding Be Utilized?
The injection of €19.5 million, co-led by Evli Growth Partners and Helsana HealthInvest, will primarily fund Yazen Health’s international expansion and technological advancement. This round also saw participation from investors like Almaz Capital and Yabeo, as well as Swedish backers Luminar Ventures and Aggregate Media. Part of the funding will enhance Yazen’s app capabilities, ensuring seamless connections between healthcare professionals and patients.
What Are the Implications of This Expansion?
Yazen Health’s expansion into new territories signifies an ambition to tackle obesity on a global scale. The addition of Mikael Hed, Growth Partner at Evli Growth Partners, as the new Chairman of the board is seen as a strategic move, providing leadership for the company’s growth. The global telehealth market is competitive, with numerous players seeking to establish themselves across borders. Yazen Health’s focus on comprehensive care could differentiate it from its competitors, offering tailored solutions that address various aspects of obesity-related conditions.
CEO and Founder Fredrik Meurling expressed pride in the company’s achievements and optimism for future growth.
“We are extremely proud of what we’ve achieved so far and the strong growth we’ve seen in Sweden. This funding gives us the opportunity to continue our mission to defeat obesity on a global scale. With Mikael Hed as our new Chairman and the support of our new investors, we are better positioned than ever to make a difference,”
he stated. Mikael Hed echoed this sentiment, emphasizing the importance of the international expansion efforts.
“Yazen’s comprehensive offering has quickly demonstrated an impressive track record. I look forward to leading the board’s work and, together with both existing and new investors, continuing Yazen’s international expansion.”
As Yazen Health embarks on its international journey, the company faces the significant task of adapting to various healthcare systems and patient needs across countries. The efficacy of their multi-disciplinary care model will likely be tested, requiring adaptive strategies to meet diverse healthcare demands. Success will depend on their ability to integrate into the distinct health ecosystems and regulatory environments of each target market. With the backing of their investors and an executive team experienced in international business, Yazen Health is positioned to make significant strides in the telehealth industry.
