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Connell C - LB Mar 2022

Cera Care raises $320m to expand home care offering

Cera Care
Image from Cera’s Facebook page

Cera Care, a large provider of home healthcare, has raised approximately $320 million in equity and debt.

The funding round was led by Cera’s existing investor Kairos HQ, alongside the Vanderbilt University Endowment, Evolve Healthcare Partners, Schroders Capital, Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact, 8090 Partners, technology investor Robin Klein and several other international institutional investors.

Goldman Sachs International and JPMorgan Securities acted as placement agents to Cera for the equity portion of the raise.

The company stated that it will use the funding to expand its operation from servicing 15,000 at-home patients each day to 100,000.

Cera operates in the UK and Germany, delivering care, nursing, telehealth and prescription delivery services in the home supported by technology. Cera’s carers and nurses collect patient symptoms and health data during at-home appointments, which its artificial intelligence algorithms use to predict deterioration in conditions before they occur.

Launched in 2016 by Dr Ben Maruthappu, Cera has almost 10,000 employees across the UK and Germany, and holds more than 300 contracts with the NHS and local authorities

Maruthappu said: “Since Cera’s launch in November 2016 the company has scaled at an unprecedented rate for the sector, benefiting countless lives, and proving the need for technology-powered improvement in healthcare. Receiving such significant financial backing during this period of global economic volatility is testament to the strength of Cera’s business model, our innovation and our commitment to revolutionising healthcare. We’re now in pole position to be able to use our unique technology to expand what we do for patients across the world who are in need of care, while relieving pressures on public services.”

Tim Creed, head of private equity investments at Schroders Capital, commented: “Ageing populations, post-pandemic recovery and major staff shortages have created a series of issues facing healthcare providers and governments. Cera’s proposition is proven to deliver results to face down these challenges. Cera’s digital-first home healthcare is a unique offering that we believe must be rolled out far and wide to provide a tangible solution to hospital waiting times, building a bigger carer workforce and to help our elderly communities to receive quality, genuine care. We’re proud to be a partner of Cera, and to play a part in supporting their mission to empower people to live longer, better lives in their own homes through technology.”

Sir David Behan, chair of Cera’s advisory board and former chief executive of the Care Quality Commission, added: “Governments around the world have been searching for solutions to the ongoing challenges in healthcare. Cera’s blend of cutting-edge technology and truly compassionate carers represents the future for health and social care in the UK and beyond. Cera has already transformed the lives of tens of thousands of people, helped the UK government to employ carers during the Covid-19 pandemic, and created and implemented technology that gives carers, those they care for, and their families peace of mind, while also giving them the freedom to live their lives in the comfort of their own homes. Cera’s next chapter will take that further to more people who require care, more countries and with more technology innovations.”

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