SAT Health attracted EUR 3 million investment
SAT Health – the Bulgarian leader in healthcare data analytics and digital solutions announced a successful closing of a EUR 3 million growth financing from Invenio Partners Fund II SCSP (Invenio Partners), a SEE-focused private equity and growth equity fund. SAT Health will use the investment to expand it regional footprint, develop new product offerings across its business lines and accelerate the implementation of technological advancements.
“Ever since its establishment, SAT Health has focused on providing quality insights into the Bulgarian healthcare system to global pharma companies. The investment from Invenio Partners will helps us to expand both our product lines and our geographical footprint. We are especially excited about our latest offerings in telemedicine, which would provide better access to healthcare, reduce unnecessary visits to the doctor and improve patients’ adherence to the prescribed therapy”, said Alexander Alexiev, Founder and CEO of SAT Health.
"This investment comes just in time and will allow us to accelerate the implementation of long-planned initiatives. The pandemic gave a major boost to digitalization in the healthcare sector and highlighted the need for in-depth analysis and expertise in strategic planning. During the previous year, we worked on numerous international projects, and our enormous efforts and high level of professionalism did not go unnoticed. More and more often we lead conversations about projects abroad, which is why we have already started working on the opening of offices in other countries.", explained Mira Nedeva, Business Development Director at SAT Health.
"The investment in SAT Health illustrates our ambition to promote and improve access to quality healthcare services. SAT Health is a great example of a company that uses technology to significantly improve the efficiency of the resources used both by businesses and institutions in the field of healthcare through implementing long-term strategic solutions. The management team has achieved tremendous results with their efforts to date and we sincerely believe that our investment will enable them to further scale the company's potential, both in the local market and throughout the countries of Central and Eastern Europe," stated Slavcho Parushev, Partner at Invenio Partners.
The transaction was facilitated by law firm DGKV. The financial and tax analysis was performed by Baker Tilly South East Europe.
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About SAT Health
SAT Health is a dynamic and innovative company that offers products and services in the healthcare sector. Established in 2017, the company brings together people with proven expertise and long-term professional experience and aims to optimize processes in the healthcare sector through a wide range of expert analyses, innovative technological solutions, and partnerships.
During the past five years, SAT Health managed to establish itself as a professional and reliable partner, becoming a leader in the Bulgarian market.
SAT Health is a member of the European Pharmaceutical Marketing Research Association (EphMRA) and a co-founder of the Bulgarian Cluster for Digital Solutions and Innovations in Healthcare (DHI). The company is also a member of the Bulgarian Startup Association (BESCO), the Bulgarian-Swiss Chamber of Commerce, and the European Health Data & Evidence Network (EHDEN). The company was recently recognized as the global winner in one of the most comparative categories of GO GLOBAL AWARDS 2022 – HealthTech.
Products & Services
The portfolio of products and services includes in-depth analysis and forecasting of healthcare data, specialized marketing research in over 20 countries in Europe, patient support programs, home care services through telemedicine, etc.
The web-based analytical tool BlueBook has become an emblematic symbol for SAT Health. The structured "live" dashboards and analyses of large data sets are a vital operational tool of the pharmaceutical companies in Bulgaria. The company's expertise in the field of the regulatory framework and its forecasting abilities in the development of the pharmaceutical and health sector have established it as a trusted strategic partner both for businesses and for institutions in the field of healthcare.
SAT Health’s subsidiary – "SAT Health Care", provides daily care to thousands of patients in Bulgaria through technology and professional assistants. Telemonitoring devices provide around-the-clock care and monitoring of patients in the comfort of their own homes. The company provides remote diagnostics, constant monitoring of vital indicators, and supports adherence to the patient's prescribed therapy.
About Invenio Partners
Invenio Partners manages a private equity and growth equity fund focused on investments in Southeast Europe. Invenio Partners has experience in promoting and helping companies realize their full potential and enhance their performance by providing growth capital, strategic guidance, and operating support to strong management teams. Invenio Partners discovers companies with a solid track record and potential for a leadership position in their respective industry with competitive business models and an experienced management team.
The investment is possible thanks to the financing provided by the European Union under the COSME and InvestBG programs to support small and medium-sized enterprises in their growth phase.