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Healthcare startup Mint Solutions raises €5M in series B funding

Amsterdam-based healthcare startup Mint Solutions raised 5 million euro in series B funding to market their medical safety system MedEye.

The equity funding round is led by the Brabant Development Agency (BOM Capital) and existing shareholders LSP (Life Sciences Partners), investing from its LSP Health Economics Fund, and Seventure Partners. They invested in the 4.4 million euro series A (2014) as well.

Other shareholders, including NSA Ventures and a number of private Icelandic investors, also participated in the financing.

The new funds will be used to support the rollout of Mint’s flagship MedEye, which aims to stop and prevent medication errors and improve efficiency in hospitals and care institutions. It enables nurses to automatically verify medication at the bedside, thus ensuring that patients get the right medication, in the right dose and at the right time. Following successful deployment at several Dutch hospitals, Mint is preparing to expand into adjacent market segments and additional countries.

Marketing manager Janneke Vos told StartupJuncture Mint is looking at long term care, for instance in nursing homes. For international expansion, “you should think of Belgium, UK and the US.”

Mint Solutions goes to the mecca of medtech

Mint is a Dutch-Icelandic startup. The team in 2014 specifically chose to settle in the Netherlands to develop the technology further, because of the Dutch healthcare system. “(it) increasingly works with public and private partnerships, driven partly by the changes to health-care insurance schemes, but there is also an increased focus on addressing both patient safety and rising healthcare costs”, CEO Gauti Reynisson told Forbes.

Right now Mint’s HQ is in Amsterdam (it has an office in Iceland too), but the healthcare startup prepares to relocate its headquarters to the Brabant region. Usual suspect is Eindhoven, yet the precise location is undisclosed.

It makes sense to move the business to that area, as it’s a ‘mecca of medtech’. Vos: “It is an enabling environment, very strong in healthcare and with lots of medtech startups.” It is said the idea for MedEye originated in the Brabant city of Tilburg. You could say things have come full circle for Mint Solutions.

Image: screenshot MedEye video

Lorenz van Gool
Lorenz is co-editor-in-chief of StartupJuncture. As a freelance editor and journalist, he writes about startups, innovation and (e)-business. Loves to report from conferences. Really likes cleantech and journalism startups. You can ask him anything about dinosaurs. Twitter: @lorenzroman

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