eCovery, the provider of digital health products, has closed another round of financing. The insurtech fund 1750 ventures, the adesso subsidiary adesso ventures and other business angels trust in the start-up founded in 2019 and are investing a relevant seven-digit amount in further growth and the expansion of the technologies. At the same time, as part of the capital increase, eCovery is also completing its range of products in the area of prevention: OPT – Online Physiotherapie GmbH will become part of the company and will operate under the same roof in the future.
The eHealth market in Germany remains in motion: With the existing and some new investors, eCovery GmbH is expanding its range and accelerating the digitization of physiotherapeutic applications, initially for the German and Austrian market.
In addition to the therapy app for back, hip and knee pain, eCovery GmbH now also offers certified preventive offers: OPT - Online Physiotherapie GmbH becomes part of the company and integrates its diverse digital offers into the eCovery portfolio, including the YouTube channel over 100.000 subscribers and the very successful digital prevention courses for a pain-free back. The courses are certified by the Central Prevention Testing Center (ZPP) and are therefore partially or fully reimbursed by the statutory health insurance companies as a preventive measure. In the course of the merger, OPT founder Raphael Ibele will also join the eCovery management team.
"We are very happy that we are joining forces and can now cover almost the entire patient journey with OPT," explains eCovery founder Marcus Rehwald: "This enables us to offer patients a solution in every phase of life and to people anywhere and anytime to help.” Payers, especially insurance companies and health insurance companies, will also benefit from this, because in future they will receive prevention and care services of the highest quality from a single source. In the past few months, eCovery has already been able to lay the foundation for this: In addition to the cooperation with Germany's largest health insurance company, der Techniker (TK), several other statutory health insurance companies have also decided to work with the Leipzig company, most recently AOK PLUS as the market leader in Saxony and Thuringia. The customizable therapy app has also caught on with private insurers: Hallesche, Barmenia and Signal Iduna trust eCovery for their policyholders. When it comes to patient safety, the Leipzig-based company is also a step ahead: the company now has ISO 13485 certification and is therefore a certified distributor of medical products.
The mixture of an innovative start-up and a reliable corporate partner convinced existing business angels and new investors, above all the Hanover-based 1750 ventures GmbH. Mirco Grützmacher, Managing Director of 1750 ventures: “There is immense potential in the area of digitized health solutions and the care of patients at home. eCovery has what it takes to be a pioneer in this market.” While 1750 ventures brings an ecosystem in the area of insurance and InsurTech to the investment, adesso ventures (formerly inQventures) GmbH and its parent company adesso SE open up access in the IT infrastructure of the healthcare market - and numerous partnerships in the field of digital health.
eCovery is currently nominated for the final round of the "Saxon Founder's Prize 2022". You can find more about the company, the team and the current focus of work at www.ecovery.de
eCovery GmbH from Leipzig develops digital health offers for the prevention and therapy of diseases and injuries of the musculoskeletal system. As a "physiotherapist for your pocket", the company enables all patients to have safe and medically sound therapy exercises at home and accompanies them anytime and anywhere during their recovery and prevention. The offers from eCovery are therefore the ideal supplement to classic treatment by a physiotherapist on site or are also available as a purely digital supply solution.
The founding team of eCovery GmbH includes Dr. Alexander Georgi, the two managing directors Benedict Rehbein and Marcus Rehwald, online expert Raphael Ibele and a team of 15 other experts on the topics of eHealth and digitization in the healthcare industry.
About 1750 Ventures GmbH:
1750 ventures is the VC of VGH Versicherungen, the largest public insurance company in Lower Saxony. The fund invests in start-ups and InsurTechs that are part of insurance-related ecosystems and that are digital pioneers. 1750 ventures offers an interface between its portfolio companies and the ecosystem of VGH Versicherungen and, together with its partner FUTUR X, drives innovations in all operational units and business areas of VGH.
About OPT – Online Physiotherapy GmbH:
The OPT - Online Physiotherapie GmbH (OPT) offers the ideal platform to effectively influence the recovery process - completely independent of time and place. Thanks to more than 20 years of experience in physiotherapy, the OPT team of experts provides well-founded information and quick support for pain and poor posture and is one of the most successful providers of digital health information in German-speaking countries. The practical everyday exercises are available free of charge as well as in course systems, many of which are certified and are covered by the statutory health insurance companies. OPT's free video tutorials on YouTube have been viewed over 13 million times.
It is the second highest value of all time: the German biotech industry raised 2,4 billion euros as capital. Biotech companies are increasingly becoming buyers and the shortage of skilled workers is increasing: all the results of the analysis have now been published in the German Biotechnology Report 2022.
The current biotech report on the situation of medical biotechnology in Germany, prepared by the Boston Consulting Group for vfa bio, is available. This annual report is the only one to cover all activities in medical biotechnology in Germany - in start-ups as well as in large companies.