Nursing care startups bags pension fund investment

By Laio

Dutch pension fund PGGM has invested in Momo Medical, a healthcare technology startup, as part of a €6.5 million funding round. Momo Medical’s innovative BedSense App, which uses smart bed sensors to enhance personalized care in nursing homes, has shown impressive results, including a 25% reduction in fall incidents and significant time savings for staff. The investment aligns with PGGM’s strategy to address healthcare shortages and promote innovation in the sector. With plans to double its capacity to 30,000 beds and expand internationally, Momo Medical is poised to make a substantial impact on the future of elderly care.

Nursing care innovation

The BedSense App is designed to enhance personalized care in nursing homes by providing real-time data on residents’ movements and activity levels. This technology allows caregivers to monitor who is getting out of bed, who shows unusual inactivity, and other vital signs. According to Vilans, a Dutch knowledge center for long-term care, the BedSense App saves an average of 4.5 hours per day in nursing homes with 90 residents and reduces fall incidents by 25%.

Momo Medical’s technology has already been implemented in 250 Dutch nursing institutions, benefiting 15,000 residents. The company aims to double its capacity to 30,000 beds in the near future. The recent €6.5 million investment round, led by PGGM and other investors like NextGen and UNETI Ventures, will provide the necessary capital to achieve this ambitious goal.

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PGGM’s investment strategy

The investment in Momo Medical is part of PGGM’s broader strategy to invest up to €100 million in innovative healthcare technologies. These investments aim to increase care capacity and efficiency, addressing the growing demand for healthcare services due to an aging population.

Maurice Klaver, Senior Investment Manager of Private Equity at PGGM, emphasized the importance of such innovations: “The healthcare sector is increasingly facing a shortage of hands, and the demand for care continues to rise due to aging.” He added that applications like Momo Medical’s BedSense are crucial for ensuring adequate care in the future.

International expansion and recognition

Momo Medical is not just focusing on the Dutch market. The company is expanding its reach to Germany, Canada, and the United States. This international expansion is supported by the impressive results and recognition the company has garnered. Momo Medical won the 2023 Dutch Innovation Award, highlighting its groundbreaking contributions to healthcare technology.

With the new funding, Momo Medical plans to further develop its technology and expand its market presence. The company is collaborating with Tilburg University, Fontys University of Applied Sciences, and various nursing homes to enhance its innovations. A €500,000 grant from the European Regional Development Fund supports this collaboration.