Berlin, 24th February, 2014 – XLHEALTH, an investor specialised in Digital Health, now holds shares in mySugr GmbH. The Austrian start-up simplifies the daily routine and therapy of diabetes with their apps mySugr Companion and mySugr Junior. The investment is based on the mutual understanding that the prevention and therapy of illnesses can be improved by implementing innovative products and sustainable business models in healthcare.
Digital Health solutions enable patients to reach a higher level of autonomy, by taking control over their wellbeing and health. The availability of smart medical IT solutions lays the foundation for a deeper understanding and better handling of one’s condition, even resulting in a clinically significant health improvement. Ulli Jendrik Koop, CEO of XLHEALTH, believes the investment will not only influence the individual diabetic’s health, “Fluent communication between doctors and patients is essential for an ideal therapy. If the blood glucose regularly is at a healthy level, the long-term effects of diabetes, such as heart attacks, kidney damage or loss of sight, can be minimised, resulting in lower costs in prevention,
therapy and aftercare for patients and insurance companies.”
mySugr adds to the XLHEALTH portfolio, because their model of diabetes therapy is unique in returning responsibility to the users of the app. In Germany, more than 9% of the population are suffering from diabetes, resulting in 20% of the German health expenditure (annually app. 60 billion Euro) being spent on diabetes and its secondary diseases, making it the most expensive chronic disease. With the number of new cases rising drastically, the International Diabetes Federation (IDF) calls diabetes the “epidemic of the 21st century.” “In many cases, lack of motivation and fear of medical treatment lead to a disheartened attitude towards diabetes, thus impeding an effective therapy,” says Frank Westermann, CEO of mySugr GmbH and a diabetic himself. In order to overcome this negative attitude, the founders Frank Westermann, Fredrik Debong, Gerald Stangl and Michael Forisch address diabetes in a playful way and combine motivation, gamification elements and an elaborate product design, to make mySugr suitable for daily use.
mySugr was founded in 2011 and has acquired nearly 100.000 users since, most of them signing up over the last six month. The Vienna-based company holds an ISO13485 certificate. In Europe and the USA, mySugr Companion is a registered medical device. It has a CE-certificate, thereby simplifying the communication between the app and blood glucose meters, laying the basis for future innovations. “We chose XLHEALTH as investor for mySugr, because we can make a significant change together with their strategic partner CompuGroup Medical. CGM is the leading software provider in healthcare, with 400.000 contacts worldwide. We want to connect doctors with the therapeutic options mySugr offers, by establishing direct communication between the doctors’ software by CGM and the mySugr Companion App.”