AI medical assistant Tandem Health receives $100m EU funding

Tandem Health has raised US$100m to expand its AI medical assistant and develop a wider clinical operating system across Europe.

The Swedish-based company has completed the Series B round, its first fundraising since securing US$50m in a Series A last year.

Tandem Health was launched to reduce the administrative burden associated with clinical care by using AI to generate notes while healthcare professionals speak to patients.

Lukas Saari, chief executive and co-founder of Tandem Health, said: “Europe’s health systems are under real strain and AI presents a real solution.

“Until now, European care providers have had to depend either on legacy solutions or AI solutions originally built for other markets that were retrofitted for Europe.

“Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s.

“This funding lets us do that, bringing healthcare safely into the AI era, working in tandem with patients, clinicians, systems and nations.”

In the UK, a partnership with Accurx has given hundreds of thousands of NHS practitioners access to its technology.

Its AI medical assistant can prepare patient summaries before appointments, provide clinical decision support during consultations and automatically handle documentation and coding afterwards.

Tandem Health says its products are used by 10,000 care organisations across 14 European countries.

The company also cites evidence showing clinicians using its products report a 29 per cent reduction in the time they spend on administrative tasks.

The new funding will be used to accelerate growth among Europe’s leading care providers and expand Tandem Health’s technology beyond its AI medical assistant.

It plans to develop what it describes as an AI-native clinic operating system capable of managing patient flows and additional clinical tasks.

The funding round is led by the €5bn (£4.3bn) Scaleup Europe Fund, managed by Stockholm-based private equity firm EQT. It is the fund’s first investment in AI healthcare.

Other investors in the round include venture funds Kinnevik, Northzone, Amino Collective and Visionaries.

Nils Petter Nygaard, managing director at EQT and the Scaleup Europe Fund, said: “European healthcare is complex.

“Tandem is one of the few healthcare technology companies to demonstrate that it can scale pan-European, already supporting more than 10,000 care organisations with AI that reduces administrative burden and frees up time for higher-impact work.

“We believe Tandem has the potential to become a foundational AI layer for European healthcare over the coming decades.”