AI-Driven Healthcare Service Provider, Cera, Demonstrates Success
Western countries, like the UK, grappling with an aging population and healthcare system pressure are witnessing an influx of tech-powered private healthcare firms. Capitalizing on this trend, UK’s in-home healthcare firm and proprietary software platform, Cera, secured a funding of $150 million, primarily constituted of debt. It plans to amplify its largely AI-powered platform with this funding, led by affiliates of BDT & MSD Partners and Schroders Capital.
Cera’s Technology Backbone and Funding Journey
Cera’s platform heavily relies on AI, utilizing its data for proprietary modelling. It also adopts elements from Google’s Gemini AI and Microsoft’s ChatGPT. This funding follows the $320 million raised in 2022, accounting to a total of over $407 million for Cera. The company, EBITA-positive from 2023 and free-cashflow positive from 2024, has 14 investors, including Earlymarket, Guinness Ventures, DigitalHealth. London Accelerator, and UK-based investor, Robin Klein.
Cera’s AI-Driven Services and Competitive Advantage
Healthcare professionals use Cera’s app for work planning and patient symptom logging. Its AI modeling predicts potential risks for patients, claims to reduce hospitalizations by up to 70% and accelerates hospital discharges significantly. Cera stands in competition with Home Instead, Bluebird Care in the UK, and Signify Health, CVS Health, and Honor in the US.
AI-powered Predictive Healthcare
Cera’s AI-driven business is fueled by the patient data collected. Its predictive algorithms can foresee more than 80% of falls and around 83% of hospitalizations a week before they occur. This has enabled a 20% reduction in falls and up to 70% reduction in hospitalizations.
Plans for Future Growth
The company, which is the UK’s largest non-NHS healthcare provider, servicing about 30 million people, aims to relieve pressure on the NHS and offer expanded services including nursing, physiotherapy, physical disabilities and mental health services. An independent analysis suggests Cera’s AI-driven model saves the UK healthcare system £1 million a day.
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