Medical tourism booking site has expended 10 million euros of investors’ money. Since launch, Medigo has helped 20,000 patients from 178 countries use a clinic or hospital abroad – an investor cost of around 5,000 euros a customer.
Since 2014, Berlin based medical tourism site Medigo has raised 10.75 million euros in funding for launch and expansion in the US and UK in 2014, and launching into Australia, China, Asia and the UAE. It is expected to seek the same amount again for further expansion.
The latest round of funding is for expansion into China and Asia. Ugur Samut, of Medigo explains, “This funding underpins our expansion into China making our services available to Chinese patients opting for care overseas and working with China’s own healthcare providers.”
It offers patients access to 500 hospitals and clinics in 23 countries. In addition to its growing Berlin, Germany headquarters, the company has offices in Dubai, Singapore and Australia – with 60 employees globally.
The question is when, or even if, investors will get a return in what is a very competitive market with scores of national, global and regional web and app based information/booking services out there.
Since launch in March 2014 Medigo has helped 20,000 patients from 178 countries use a clinic or hospital abroad- that works out at an investor cost of around 5,000 euros a customer.
Most funding comes from venture capital and private equity funds that freely admit that there will be more losers than winners in their portfolio – but they take a punt in the hope of quick profits when a large tech group buys a portal – and that may be their plan for Medigo.
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