The venture capital fund STING Capital have made a new and followon investment of 6.5 million
2010-07-05 The Medtech company Encare, which increases efficiency with an innovative method, is the latest new addition of STING Capital portfolio. The venture capital fund STING Capital invests for the moment 2 million in Encare due to construction but have invested aprox. 4.5 million during the past year.Encares web-based software helps resected clinics to establish and maintain ERAS® (Enhanced Recovery After Surgery), a structured treatment program that improves quality and efficiency of the perioperative care. Resected clinics can reduce complications by half, shortening the length of stay by an average of three days and standardizing treatment to Best Practice.
- Clinics introducing ERAS Care System achieves demonstrably radical improvements; safety and well-being for patients improves and managers may have much bigger control over the care chain. Overall, this leads to significant savings of resources in health care, which is a very topical issue as the cost of health care, especially in the western world is increasing rapidly. STING Capital's investment allows us to begin a sustained effort to roll out ERAS Care System, so that many more patients can be spared due to unnecessary suffering, "said Magnus Stafsing, CEO of Encare.
- Today Health care needs not only new and modern equipment and new medicines. Healthcare is in great need of procedures and support system to streamline and improve patients care quality. Encare shows a very interesting way in how to make a combination of structured processes and IT support in surgery wish can significantly improve health care quality, "says Martin Gemvik, Investment Manager at STING Capital.
Earlier this year, STING Capital invested in six young, innovative technology companies and new investmenst in three promising growth companies, in the Cleantech area:
- It is important that we as owners, as far as possible, try to support our portfolio companies in their continued development of international growth, "says Martin Gemvik, Investment Manager at STING Capital.
For more information: Magnus Stafsing, CEO at Encare, magnus.stafsing@encaregroup.com, +46 706 55 93 12, www.encaregroup.com
ABOUT STING Capital
The venture capital fund STING Capital is formed by the business incubator STING (Stockholm Innovation & Growth AB) and Innovationbron. Other investors are the business angels network from STING; STING Business Angels, Venture Partner Pod, Folksam, Baltic Foundation, ALMI Stockholm, Stockholm Länsförsäkringar, Peder Sager Wallenberg Foundation, ALLBA Invest, TageHus Management and KTH Holding.
STING Capital invests in innovative technology companies in early stages, and with great international potential. STING Capital invests typically 1-4 million per company and is usually the first external investor in the company.
www.stingcapital.com
