Tandem Health raised $100 million in a Series B announced September 14, led by the Scaleup Europe Fund that EQT manages. Kinnevik, Northzone, Amino Collective and Visionaries Club joined. The Stockholm company, founded in 2023, has now raised $160 million, including a $50 million Series A last year.
Three of its products hold Class IIa certification under the EU Medical Device Regulation: the AI scribe, the coding assistant and the clinical decision support tool. Tandem says it reaches 10,000 care organizations in 14 European markets, among them Ramsay Sante, Humanitas and the NHS. It bought Dutch scribe company Juvoly in January.
Most documentation vendors spend their regulatory effort arguing they are not a device. Tandem went the other way and certified under MDR, which costs more at the start and leaves room later to ship a feature that suggests a code or a diagnosis.