Philips, Johnson & Johnson back €250m medtech and digital health fund
Gilde Healthcare IV, a €250 million fund targetting digital health, medtech and therapeutics, which is backed by major players including Philips and Johnson & Johnson, closes today.
The later stage and growth capital fund targets medtech, digital health and therapeutics in Europe and North America.
Gilde Healthcare IV, which is managed by European specialist investment firm Gilde Healthcare, is closing at its hard cap.
It is backed by Royal Philips, which acted as a cornerstone investor, extending the collaboration, which started in the previous Gilde Healthcare III fund.
Johnson & Johnson Innovation joined as a new corporate investor in Gilde Healthcare IV.
Additional investors include fund-of-funds, sovereign funds such as Danish Growth Fund, endowments, family offices, entrepreneurs and Gilde partners.
The European Investment Fund participated in the fund through several of its funding programs including the European Recovery Program and Dutch Venture Initiative II.
In the last three years, Gilde has exited 14 portfolio companies across its healthcare funds.
Amongst the companies that successfully divested over this period are Definiens, a provider of image analysis software for digital pathology, and Inovalabs, which markets portable oxygen concentrators for patients with respiratory conditions.
Additional firm successfully divested include ProFibrix, which developed a novel topical hemostatic agent to treat fast bleeding wounds; Prosonix, a speciality pharmaceutical company developing a portfolio of inhaled respiratory medicines by design; Santaris, which develops RNA-targeted drugs and Sapiens, a Dutch neuro-modulation company focused on deep brain stimulation for patients suffering from Parkinson's disease.
Pieter van der Meer, managing partner, Gilde Healthcare, commenting on today’s announcement said:
“The healthcare landscape in the US and Europe is changing, driven by the need for more patient centric care and a much sharper focus on value.
“With our new fund we will continue to pursue our differentiated investment strategy of backing growth and later stage companies developing novel technologies or therapeutics that enable better healthcare outcomes at reduced costs.”
The Gilde Healthcare IV Fund will make equity investments in a single portfolio company of between €15-25 million.