Irish health technology platform Medihive has secured investment of €3.5mm from ResMed, the international digital health and cloud-connected medical device company, as well as existing shareholders, including VentureWave Capital.
Medihive, which operates WebDoctor.ie, said it employs 130 people and expects to add 42 employees over the next two years.
"The investment from ResMed alongside the increased support from current shareholders demonstrates our shared passion for medical technology advancement and will allow Medihive and Webdoctor.ie to further expand and develop our services while continuing to provide transformative digital healthcare solutions," said Medihive chairman Noel McSweeney.
David Crimmins, CEO of Medihive, added: "Over the last two and a half years demand for our services has surged as organisations realised they can achieve better patient outcomes by blending smart health technology with their traditional health infrastructures.
"This investment will enable us to continue meeting this demand while also allowing us to scale and expand our services in the continually evolving telehealth market both in Ireland and internationally.
In Association with
RedMed has worked with Medihive since 2019.
“At ResMed our mission is to change 250m lives in 2025 in out-of-hospital care settings, and today’s announcement fits perfectly with that goal," said Katrin Pucknat, president of ResMed Germany.
"Our work to date with Medihive has transformed the lives of our patients by making their care pathway less disjointed and allowing them to get diagnosed for sleep apnea outside of a hospital setting."
Private equity firm VentureWave previously invested €3m in Medihive in August 2021.
"We are delighted to once again invest in Medihive alongside ResMed, a key strategic investor," said Alan Foy, managing partner at VentureWave.
Webdoctor Ltd, founded in 2013 by Oisín and Howard Kim and Martin Commins, had net assets of €560,000 as of the end of 2021 after booking a loss of €2.1m that year.
Photo: (l-r) David Crimmins and Katrin Pucknat. (Pic: Medihive)
