MEDIGO, a medical tourism facilitator, has secured an additional 3.35 million euro ($3.5 million) after closing an extension round with Chinese venture capital firm CL Ventures, the company said in a statement. With the latest finance round, MEDIGO has reported a total fundraise of $10 million to date. Since its launch in March 2014, MEDIGO said it has connected more than 16,000 patients with a clinic or hospital abroad. It currently offers patients access to over 500 hospitals and clinics in 23 countries worldwide.
In addition to its growing Berlin, Germany headquarters, the company established subsidiaries in Singapore and Australia, which will be fully staffed in the coming months. The capital from this extension round gives the company additional resources to strategically expand its clinic and hospital network as well as patient services. After opening its Australian office late last year, one of the first expansion offices in the Asian region, its next destination is China. “CL Global Healthcare is a strong partnership for us as we enter this market,” says Ugur Samut, CEO of MEDIGO.
“This funding underpins our expansion into China making MEDIGO’s services available to Chinese patients opting for care overseas and in parallel, working with China’s own top healthcare centers.” CL Ventures, a prominent VC firm in China, has popular mobile app DoctorTree in its portfolio. With extensive experience in the healthcare, real estate, and financial industry, the firm looks to further MEDIGO’s vision for connected, global healthcare.
“We are committed to supporting MEDIGO as it enters the Chinese market,” said CL Ventures CEO, Hong Zhou. “As demonstrated by its remarkable growth and global expansion since their 2014 launch, it’s clear MEDIGO is a leading medical tourism facilitator and key player in disrupting the broader healthcare industry.”