Healthcare Tech Pioneer Cera Achieves Unicorn Status After $150m Dollar Raise

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British healthcare technology firm Cera has secured a landmark $150 million funding round, propelling the company to coveted unicorn status with a valuation exceeding $1 billion. The fundraising effort, combining debt and equity funding, was spearheaded by US merchant bank BDT & MSD Partners alongside Schroders Capital, the private markets division of the British asset management organisation.

Founded in 2016 by former NHS doctor Ben Maruthappu and Marek Sacha, Cera has revolutionised home healthcare delivery through its innovative AI-powered system. The company reported impressive revenues of £225 million for the year ending December 2023, primarily generated through NHS organisations and local authority contracts.

The organisation’s technological prowess has yielded remarkable results, with its AI-driven monitoring system contributing to a significant 70 per cent reduction in hospitalisations and a 20 per cent decrease in falls among elderly patients. Cera’s 10,000-strong workforce delivers an impressive two million appointments monthly, resulting in estimated daily NHS savings of £1 million.

Maruthappu, aged 36 and recently named EY entrepreneur of the year, has expressed concerns regarding the government’s timeline for social care reforms. The Labour Party’s proposal for an independent commission to transform social care, with recommendations due in 2028, has drawn criticism for its lengthy timeline amid pressing healthcare challenges.

The fresh capital injection will fund further technological development and expansion into specialised home care services, including nursing, physiotherapy, and mental health support. This strategic growth comes at a crucial time, as NHS trusts face unprecedented pressure from what Professor Sir Stephen Powis terms a “quad-demic” of flu, Covid, norovirus, and respiratory syncytial virus.

Cera’s success story began with Maruthappu’s personal experience in seeking home care for his mother. The company’s impressive roster of early backers includes David Buttress, former JustEat chief executive, and Peter Sands, former Standard Chartered chief executive, who serves as chairman.

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