Mint Solutions Raises € 5 Million in Series B to Fund Rollout of Revolutionary Medication Safety System
Amsterdam, the Netherlands, August 25, 2016 – Mint Solutions Holding BV, a private Dutch company developing and marketing the revolutionary medication safety system MedEye, has raised € 5 million in a Series B equity funding round 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. 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 proprietary MedEye system, which aims to stop and prevent medication errors and improve efficiency in hospitals and care institutions. Through a combination of innovative hardware and software and seamless integration with hospital information systems, MedEye 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.
“This investment comes at a crucial time for our MedEye product. We are experiencing strong demand from Dutch hospitals and we see ample growth opportunity in other care segments, including long-term care, as well as international markets,” said Gauti Reynisson, CEO of Mint Solutions. “The new funding allows us to roll out MedEye and increase medication safety in even more hospitals and care institutions both in and outside the Netherlands.”
“The MedEye system has proven to significantly reduce medication errors, providing a great benefit for both hospitals and individual patients,” commented Miriam Dragstra, Director of BOM Capital. “We are pleased to be joining Mint Solutions now, as the company prepares to relocate its headquarters to the Brabant region to participate in the regional ecosystem around MedTech and e-health solutions.”
To mark today’s announcement, representatives from Mint Solutions and BOM visited Euronext Amsterdam this morning to attend the so-called Gong ceremony. Miriam Dragstra, Director of BOM Capital, was joined on stage by Mint Solutions CEO Gauti Reynisson and other members of the Mint and BOM team, to open trading on the Amsterdam stock exchange by sounding the Gong.
About Mint Solution
Mint Solutions is a Dutch-Icelandic medical startup that was established to improve medication safety in hospitals and care institutions. MedEye, Mint Solutions’ flagship solution, ensures that patients get the right medication, at the right dose and at the right time. More information: www.mintsolutions.eu or email@example.com
The Brabant Development Agency (BOM) endeavors to promote an innovative and resilient economy in the Dutch province of Brabant, giving the region a lasting competitive edge in a rapidly globalizing world. The emphasis in this policy is focused on the top economic clusters, crossovers between these clusters, and linking these clusters to social issues.
BOM encourages companies, local and national authorities and knowledge institutes to realize the economic ambitions nurtured by the province of Brabant. The starting point in this is to provide smart solutions to social problems. BOM’s core tasks involve forging alliances between companies and institutions, attracting foreign companies, investing risk capital in both innovative startups as well as growing companies and developing business sites. For more information: www.bom.nl
LSP (Life Sciences Partners) is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. LSP’s Health Economics Fund invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information please visit the new LSP website: www.lspvc.com
About Seventure Partners
With over €600m in assets under management as of the end of 2015, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has invested in innovative businesses with high growth potential in digital technologies, in France and Germany, and in the Life Sciences field across Europe and North America. In Life Sciences, the main areas of focus include biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology, and last but not least: the MICROBIOME, nutrition, foodtech and personalized medicine. For more details: www.seventure.com