Health Tech Startup Lumeon Secures $28 Million to Accelerate U.S. Market Expansion

On December 5, VCBeat (WeChat official account: vcbeat) learned that health tech startup Lumeon announced the completion of a $28 million financing round. The round was led by LSP, a European healthcare investment firm, with participation from MTIP and existing investors Glide Healthcare Partners, Amadeus Capital Partners, and IPF Partners. Following its successful involvement in the fall 2017 accelerator program, Cedars-Sinai Medical Center continued to make strategic investments in Lumeon.

Image source: Lumeon official website

Lumeon is a health tech startup dedicated to helping healthcare organizations automate their systems and processes. Headquartered in the United States and Europe, it primarily serves large global healthcare enterprises, with its CPM (Care Pathway Management) platform managing care for over 6 million patients.

Lumeon leverages the CPM platform to deliver innovative digital healthcare services, enabling the integration of clinical and administrative data while utilizing big data analytics to measure and optimize service delivery. This empowers healthcare institutions to effectively manage end-point medical care. Additionally, the platform facilitates patients’ access to appropriate follow-up care.

In June 2015, Lumeon secured $9.4 million (£6 million) in Series B financing, led by Glide Healthcare Partners with participation from Amadeus Capital Partners and Archimedia Investments. The funds were primarily used to support the development of Lumeon’s pioneering CPM platform.

The U.S. healthcare system is plagued by inefficient medical processes and soaring operational costs, while healthcare providers in the United States face existential challenges due to rising care delivery expenses. To address these issues, Lumeon is collaborating with vendors to actively advance next-generation care delivery.

Lumeon has deployed personalized care pathways using the CPM platform, combining intelligent orchestration with automation. Built on existing electronic health records (EHR), CPM leverages advanced patient engagement technologies to deliver better care by eliminating low-value activities and ensuring best practices. This approach not only reduces operational costs but also enhances patient experience and increases revenue.

Lumeon stated that it will use the funds to expand its U.S. team and Boston office, scale commercial operations, and accelerate customer deployments in the region.

“As we roll out our initial transactions and have our core team in place, this funding will accelerate our business growth and enable us to seize this critical window of opportunity in the healthcare market,” said Robbie Hughes, CEO of Lumeon.

LSP Managing Partner Rudy Dekeyser also commented on the investment in a statement:

LSP (Life Sciences Partners) is an independent European investment firm that provides financing to private and public life sciences companies. LSP’s mission is to connect investors with inventors, focusing on unmet medical needs. Since the late 1980s, the LSP team has invested in approximately 100 innovative companies, many of which have grown into leaders in the global life sciences industry.

MTIP (MedTech Innovation Partners) is a Switzerland-based venture capital firm specializing in the healthcare sector. Founded by entrepreneurs, the investment firm partners with innovative companies in the fields of medical devices, diagnostics, and digital health to create cost-effective and socially responsible solutions that improve patient care. With the combined support of experienced investment professionals, research institutions, and healthcare facilities, MTIP provides financial and strategic assistance from the startup to the growth stage.

Glide Healthcare Partners, established in 1997 and headquartered in the United Kingdom, has been dedicated to investing in high-tech companies since its inception, having invested in approximately 40 European companies to date.

Amadeus Capital Partners excels at identifying technology companies with substantive technological capabilities. It assists portfolio companies in applying new technologies to new products, helps build leadership teams to accelerate growth, and enables them to maximize opportunities while mitigating risks. Leveraging a global network of technology investors, Amadeus Capital Partners also provides portfolio companies with strategic insights, industry experience, and access to global network resources.

Amadeus Capital Partners is a global technology investor. Since 1997, the firm has supported more than 135 companies and raised over $1 billion for investment.

IPF Partners is a leading alternative financing provider focused on the healthcare industry, offering customized, non-dilutive debt and equity financing to market-leading healthcare companies and institutions. IPF primarily invests in pharmaceutical, biotechnology, medical technology, diagnostics, and IT healthcare companies at the emerging commercial stage.

Cedars-Sinai is a non-profit academic healthcare organization founded in 1902. Today, Cedars-Sinai serves more than one million people across over 40 regions, with more than 4,500 physicians and nurses and 1,500 research projects.