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Dutch-Icelandic medical startup Mint Solutions Holding BV has found the right medicine to cure its funding woes in the form of a € 5 million Series B equity funding round investment . The healthy donors are led by the Brabant Development Agency (BOM Capital) along with the company’s existing shareholders LSP (Life Sciences Partners), investing from its LSP Health Economics Fund, and Seventure Partners. Other shareholders, including NSA Ventures and a number of private Icelandic investors, also participated in the impressive financing round.
Literally Life-saving Technology
Unlike what it’s name suggests, this startup’s primary goal is not to be making a mint. Here is a company that really wants to make the world a better and safer place through their revolutionary medication safety system MedEye. This literally life-saving technology intends to stop and prevent medication errors and improve efficiency in hospitals and care institutions. Too often nurses make crucial and even life-threatening mistakes with medication; Mint Solutions estimates that hospitals currently make errors with 1 in 5 medication dosages. MedEye will change this as it assists nurses with getting patients the right types of medication with the right dosage at the right time. With the miracle MedTech of MedEye, hospitals can prevent at least half the mistakes they currently make. Several Dutch hospitals already successfully apply the sophisticated MedEye technology.
Just what the doctor ordered
To indicate how how urgently hospitals need to bring back the number of errors, Mint Solutions points at a recent Washington Post article that reported how medical errors are currently the third-leading cause of death in the United States. Mint Solutions has been preparing to expand into other countries like the U.S. and this investment will enable them to do so. Mint Solutions CEO Gauti Reynisson explains this financial injection is just what the doctor ordered:
“This investment comes at a crucial time for our MedEye product. We are experiencing strong demand from Dutch hospitals and we see ample growth opportunity in other care segments, including long-term care, as well as international markets. The new funding allows us to roll out MedEye and increase medication safety in even more hospitals and care institutions both in and outside the Netherlands.”
Mint Solutions currently has offices in Amsterdam and in Iceland near Reykjavik. As part of its deal with the BOM, the half-Nordic company is about to acquire some southern charm as it will move its headquarters to the southern-Dutch province of Brabant. Earlier this month Mint Solutions’ MedEye system was also announced as one of the nominees for the Accenture Innovation Awards in the category Health & Wellbeing. The winners will be selected this October and you can still vote for MedEye here.
Nurse and patient image by Shutterstock