Digital clinic Medon raises EUR 320 000 to expand operations

Medon, a digital clinic founded in Latvia, has secured an investments of EUR 320 000 from several successful Latvian entrepreneurs. This is a significant step towards strategic expansion into new markets. This investment will help Medon achieve its vision of making healthcare accessible both in Latvia and globally.

According to the Medon founders, the developed digital solutions are adaptable to the needs of different markets, which makes the service exportable. The particular investment is intended to develop the clinic's product first in India, followed by the United Arab Emirates and Saudi Arabia. 

Mārtiņš Dziedātājs, one of the Latvian private investors, says: "We hold a strong confidence in the team and the solution it has created and continues to develop both in Latvia and abroad. Our vision aligns with Medon's commitment to provide quality healthcare services and to promote their digitalisation in general. This approach would make health services more accessible for patients, improve efficiency for doctors by reducing administrative burden, and give them the opportunity to work in many geographies at the same time while being based in Latvia."

"These markets are seeing rapid growth in digital healthcare, which is in line with our ambitions. India, the United Arab Emirates and Saudi Arabia stand out for their dynamic economic development, high levels of technology adoption and rapidly growing healthcare sectors. For example, India's digital health market is forecast to grow to around EUR 9.74 billion as early as 2027, growing by more than 21% annually. These markets also offer unique opportunities for expansion given their populations and healthcare challenges," says Roberts Lasovskis, CEO and co-founder of Medon. 

"Cardiovascular disease remains the leading cause of death globally and our target markets are seeing an alarming increase in these diseases. For example, cardiovascular diseases cause nearly a quarter of deaths in India, 45% in Saudi Arabia and 40% in the United Arab Emirates. Our approach is to mitigate this trend by leveraging European medical expertise and making innovative and patient-centred healthcare more accessible," says Mārtiņš Ērglis, co-founder of Medon and cardiac surgeon.

Since its establishment, the clinic has made significant strides in the development of digital healthcare both in Latvia and abroad, distinguishing itself with technological innovations and a growing base of satisfied patients, as well as modernising other clinics with convenient online care solutions. The clinic already represents 27 medical specialties and has 128 leading medical experts registered, while the number of registered patients already exceeds 4,000.

About Medon: 

Digital clinic Medon is a health technology company founded by Roberts Lasovskis, Andrejs Mironovs, Mārtiņš Ērglis and Helvijs Henšelis. The clinic is included in the Health Inspectorate's Register of Medical Institutions and offers remote medical consultations with a special focus on cardiovascular health. The company aims to make European medical knowledge accessible to the nearly one billion people suffering from cardiovascular diseases and related health risks. More information about the digital clinic can be found at www.medon.lv.