Advanced MedTech Holdings (AMTH), Southeast Asia’s largest medical device business, today announced it has led a USD$3 million Series A funding in Devicare, a Barcelona-based startup, to support its development of innovative urological treatments that combines nutritional therapy with digital monitoring. Existing investors Emesa Capital and Juan Knuth participated in the funding round together with Ship2B through Equity4Good, its impact investment vehicle which is co-invested by the European Investment Fund (EIF).
The funds raised will be used to further develop Devicare’s Lit-Control® medical device for kidney stone patients and comprises of a pH meter connected via Bluetooth® to a mobile app. The pH meter is uniquely designed to deliver personalized medicine by digitally measuring patients’ urine pH and recommending the correct medication, then transmitting the information to an app that will adjust the dosage and allows doctors and patients to manage the condition remotely.
The Lit-Control® medical device will join Devicare’s existing line of medical food products for kidney stone patients, that specializes in the treatment and prevention of kidney stones. These products are widely available in Spain, Portugal, France, UK, US and other territories.
Abel Ang, Group Chief Executive of Advanced MedTech, said “Advanced MedTech built the largest dedicated kidney stone online community in the world. This investment is part of our strategy to advance digital health and personalized medicine in the field of urology. Devicare’s Lit-Control® product portfolio lends itself to non-invasive digital management of kidney stone disease. We are looking forward to working closely with the team to expand their offerings globally to alleviate the discomfort and pain faced by the kidney stone community around the world.”
Rosendo Garganta, Founder and Chief Executive Officer of Devicare, said “Our utmost priority is helping patients manage their urological health. Kidney stones have a recurrent rate of 60-80% in existing patients, which is a significant hindrance on patients. This strategic partnership with Advanced MedTech will enable us to accelerate the development of cutting-edge technology to deliver personalized medicine using digital tools to help patients and doctors manage kidney stone treatment more effectively.”