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Seven-figure investment in Hamburg health app

"LifeTime" app manages test results on smart phone. Doctors get fast to patient information

The High-Tech Gründerfonds (HTGF) is investing a million euro sum in a health app named LifeTime during a seed round together with the Innovationsstarter Fonds Hamburg (IFH) and an investment group consisting of doctors, lawyers and companies. This young, Hamburg-based company was founded by doctor and entrepreneur Dr. Johannes Jacubeit to drive the digital transformation in hospitals and doctors’ surgeries. However, the exact amount of the investment has not been disclosed.

Vital signs available on smart phone

The founder said: “Although doctors are still surrounded by high-tech gadgets, the patient still receives handwritten notes and CDs after the appointment. They do not go well together.” The LifeTime app will allow patients to save and manage digital information about their health on personal smart phones. After visiting a doctor, data such as diagnostic findings or X-rays can then be uploaded onto the app. This is facilitated by small, connection hardware for doctors’ surgeries and hospitals. Conversely, patients can also give their doctors fast and direct access to preliminary findings or to vital data saved on personal smart phones.

Trial run in 20 doctors’ practices

Jacubeit described the product, saying: “This technology allows patients to carry, access and share their vital information at all times.” On the other hand, I, as a doctor, get a more complete view of the patient and can thus offer improved treatment – without any paper or cumbersome administration expenses.” At present, LifeTime is being tested in 20 doctors’ surgeries across Hamburg. New funds will enable domestic growth and abroad. The hardware for doctors can be ordered from mid 2016 on the web page.

Municipal support

“Since the founding of GmbH at the end of 2014, the team and I have received incredible support from the Hamburg start-up ecosystem,” said Jacubeit, adding, “The InnoRampUp programme has made a considerable contribution to the company’s success so far and is a unique, municipal subsidy. Overall, the city and the nextMedia.Hamburg initiative are great towards start-ups and help ensure that Hamburg positions itself as an important location in Europe and across the globe for founders.”

Sources and further information:

About GmbH

Dr. med Johannes Jacubeit founded the GmbH, which is based in Hamburg, in late 2014. An interdisciplinary team is working on development and distributing the LifeTime digital health solution. The company and its product has already won several innovation and entrepreneur awards.

About High-Tech Gründerfonds

The High-Tech Gründerfonds invests venture capital in young, particularly encouraging technology companies that find business solutions for promising research results. The seed stage financing allows start-ups to manage the project right up to the provision of a prototype i.e. “proof of concept” or until the launch on the market. The funds initial investment comes to EUR600,000. Up to EUR2 million in total is available per company. Investors in the public-private partnership include the Federal Ministry of Economics and Technology, the KfW Bankengruppe as well as other commercial enterprises. The High-Tech Gründerfonds has a total fund volume of EUR576 million (EUR272 million in Fonds I and EUR304 million in Fonds II).

About Innovationsstarter Fonds Hamburg

The Innovationsstarter Fonds Hamburg invests venture capital in young, innovative Hamburg-based companies to boost their research and development efforts. Plans for open participation in capital companies with a maximum of EUR1 million are being made. The investors in the funds include to equal parts the Free and Hanseatic City of Hamburg and the European Regional Development Fund (ERDF). The volume of the Funds is EUR12 million. It is managed by the IFB Innovationsstarter GmbH, which is a fully owned subsidiary of the Hamburgischen Investitions- und Förderbank (IFB Hamburg).

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