German health tech giant, MEDWING, have successfully secured €28 million of funding. The Series B financing round, which Cathay Innovation led, received participation from pre-existing investors like Atlantic Labs, Cherry Ventures, Northzone and Adevinta. MEDWING’s platform aids medical professionals in finding opportunities and solving staff shortages.
MEDWING strive to make working in the medical profession an attractive career and they also look to resolve any health care personnel staff shortages. The company, based in Berlin, strives to support care facilities and hospitals in human resource management and recruitment and to empower healthcare workers to be able to work in roles that suit their personal lifestyles. MEDWING achieves this by using a blend of communication technology, personal consultation and innovative matching.
The worldwide shortage of medical professionals is predicted to rise to about 20 million by 2030, according to the World Bank. According to a German survey by the Ipsos Institute, 61% of Germans think that the healthcare professional shortage is the biggest issue facing the German medical system.
In summary, the medical sector must manage its existing personal better to avoid planning problems and to increase transparency. MEDWING has its core expertise in this area, by offering digital resources and solutions for this very purpose, it aims to be the leading service provider for jobs in the medical sector.
To date, MEDWING has successfully helped more than 2,500 partner hospitals, medical practices and nursing homes and over 200,000 professionals in Germany. In turn, this makes MEDWING the largest and most modern job matching system in the European medical sector. The start-up business registers over 15,000 new candidates each month. It also places more than 100 healthcare professionals in full-time positions and helps to fill more than 2,000 shifts all over Germany with its own platform.
The new funding will see MEDWING further develop its products, features and services that are aimed specifically at health experts, care facilities and hospitals. The fresh funds will be used to increase its business internationally with its team of 200 employees from France, the UK and Germany to other countries.
“Our goal is to address the global shortage of healthcare workers and to improve access to healthcare globally. Today, we have the technology to think and live healthcare completely differently – making it better for everyone. For example, we can balance work and family life for healthcare professionals in a way that no one needs to be stressed out anymore. We make it possible for well-trained nursing staff who give up their job after a few years and do something completely different to return to their actual calling. It is not acceptable that hospital wards have to be closed due to staff shortages. We solve these important societal challenges. A goal that we share with our investors.” Said Johannes Roggendorf, founder and Managing Director at MEDWING.
“The digitalisation of work and digital health are among Cathay Innovation’s core investment themes. MEDWING stands exactly at this crossroad and it is, therefore, no coincidence that with the returning of Costanza Carissimo to Europe, we chose the company for our first investment in Germany. MEDWING’s platform has already brought positive changes to the recruitment, human resources management and care of many hospitals and institutions, especially highlighted during this covid-19 crisis. We strongly believe in Johannes and Timo’s vision and are excited to leverage our global platform to support them as they expand further across Europe.” Said Jacky Abitbol, Partner at Cathay Innovation.
MEDWING is the market leader in charge pro bono in the current war against COVID-19. The company place doctors, nurses and non-medical volunteers into hospitals, private households and nursing homes. The initiative is called ‘WIR WOLLEN HELFEN’. The company is helping to restart the ‘hidden labour force’ initiative in Germany. In just under a month, more than 10,000 volunteers and professionals have already been registered with the company.