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PolyTechnos invests in ArztPartner

Having received its third round of venture capital financing, ArtzPartner almeda is aiming for profitability.

PolyTechnos Venture-PartnersEnabling Technology LP fund (ETLP) has made a follow-on investment in ArztPartner almeda AG, a healthcare company.

ETLP was lead investor in this third round of financing and was joined by Beteiligungs Holding GmbH and some private investors.

The company is undergoing restructuring as well as refinancing, and it is hoped the cash injection will now enable it to reach profitability. ArztPartner almeda is a healthcare company which informs and advises patients, mostly on behalf of insurance companies through a medical call center as well as through its website. It also monitors patients with diabetes and heart insufficiency, and offers services to health care industry participants, such as pharma and biotech companies. It was founded in January 1997.

Dr Roman Rittweger, chairman of the board of ArztPartner almeda AG, believes that the e-health industry at a crossroads: “Only a few players besides us will succeed in refinancing their companies and reaching the break-even point this year. In particular, big insurers expect their service companies to have a solid financial situation, as we already have”, he said.

Pierre Hochuli, managing partner of PolyTechnos, said: “The German health care sector needs companies like ArztPartner almeda. This new round of financing will permit ArztPartner almeda to further strengthen its competitive position and develop a profitable business”.

PolyTechnos was founded in 1998 and focuses on early stage technology and life science companies in Germany and the rest of Europe. Last week the group invested in the £6.5m private round of seed financing for Israel-based ColorChip Inc.