Tandem Health raises $100M led by the Scaleup Europe Fund managed by EQT to bring European healthcare into the AI era

• Tandem Health is used by 10,000 care organisations across 14 European markets and has certified three Class IIa medical devices under EU MDR in the past six months.

• Peer-reviewed research has shown that clinicians using Tandem report a 29% reduction in time spent on admin, 30% improvement in job satisfaction and a 30% reduction in administrative stress¹.

• The $100M Series B is led by the Scaleup Europe Fund, managed by EQT - the fund’s first investment in healthcare.

• Funding will be used to accelerate the adoption of AI across European healthcare, expanding from an AI Medical Assistant to an AI-native Clinic Operating System and doubling down across European markets.

Today we’re announcing that Tandem Health has raised $100 million in Series B funding, led by the Scaleup Europe Fund, managed by EQT. We are the first healthcare company the fund has backed, a fund created to keep Europe’s best and most ambitious companies in Europe. Our existing investors Kinnevik, Northzone, Amino Collective and Visionaries are also participating in the Series B. It follows a $50m Series A in 2025, bringing Tandem’s total funding to $160m.

Tandem Health was founded on the principle that someone needs to take care of healthcare in Europe. The continent’s health systems face a widening gap between demand and workforce and the WHO estimates a shortfall of 1.6 million health and social care workers in 2024, rising to 4 million by 2030². To compound this, the number of Europeans over 65 will rise to around 130 million by 2050³, cared for by a workforce that Eurostat projects will shrink to fewer than two working-age adults per retiree⁴.

The current trajectory with rising healthcare costs, shortages of clinicians and an aging population is not sustainable. Tandem Health is addressing this issue by building clinically safe, regulatory-grade AI that clinicians can trust.

What we’ve been working on

Improving healthcare is about four key dimensions; care quality, care efficiency, patient experience and clinician work environment. Historically, improvements in one dimension has been at the expense of another. For example, to improve the tracking of care outcomes, there’s new documentation requirement that the clinician needs to perform.

For the first time, technology now enables improvements along all four dimensions at the same time.

Tandem Health offers a complete AI Medical Assistant that supports clinicians before, during and after the patient visit. It prepares patient summaries ahead of appointments, provides clinical decision support during the consultation, and automatically handles the documentation, coding and task management that follows.

We’ve embraced the high standards Europe sets for sovereignty, data security, and clinical safety - rather than shying away from it. Tandem is the only AI Medical Assistant that has an AI Scribe, Coding Assistant, and Clinical Decision Support, each independently certified as Class IIa medical devices under the EU Medical Device Regulation. We are also certified according to ISO 27001, ISO 13485, ISO 42001, C5 in Germany, ENS High in Spain, HDS in France.

Proprietary, peer-reviewed research has shown that clinicians using Tandem report a 29% reduction in time spent on admin, 30% improvement in job satisfaction and a 30% reduction in administrative stress¹. Since being founded three years ago, Tandem has established offices in 14 European markets and been brought to over 10,000 care organisations. This includes Europe’s largest care providers such as Ramsay Santé, Humanitas, and the NHS.

Lukas Saari, CEO and co-founder of Tandem Health, said:

Europe’s health systems are under real strain and AI presents a tangible solution. But until now, European care providers have had to depend either on legacy solutions or AI solutions originally built for other markets that were retrofitted for Europe.

We started Tandem to provide an alternative. Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s. This funding lets us do that, bringing healthcare safely into the AI era, working in tandem with patients, clinicians, systems and nations. That’s how we’re taking care of healthcare.

What’s next

The funding will go into two main areas.

1. Accelerate Tandem’s position as the AI partner of European care providers

We recognise that healthcare solutions need to be tailored and delivered locally. Each country has different cultures, reimbursement schemes and ways of working. We therefore set out to build for European countries from the start, from Europe. Rather than attempting to retrofit solutions built elsewhere to a European context.

Having already established offices in 14 European countries, we’re set to provide local support. Germany, France, UK, Spain, Italy, Netherlands, Sweden, Finland, Norway, Denmark, Belgium, Portugal, Estonia, Lithuania. A list that is quickly growing.

The support is provided via our clinician-led team, which is composed of 100 in-house clinicians responsible for delivering, developing and tailoring the product to your needs. Data that stays in Europe, solutions certified to meet European standards, and a sovereign architecture.

The foundation already exists, and we are now doubling down across European markets to further accelerate the adoption of AI in healthcare.

2. Grow into an AI-native Clinic Operating System

Over the past year we have grown from an AI Medical Scribe into a complete AI Medical Assistant that supports with pre-charting, clinical decision support, documentation, referrals, coding and task management. The next step is to now support the broader clinic on their AI transformation journey.

This also includes supporting the patient flow management of clinics. Triaging, scheduling and handling communications with patients. To enable clinics to focus more on providing care to the patients, and less on the orchestration of it.

As we expand towards an AI-native Clinic Operating System, a core component is to ensure deeper integrations with other systems care providers utilize. We are already integrated with over 130 medical record systems across Europe, and are constantly expanding this pool, both in terms of quantity and depth of integrations. This is to enable a seamless experience for users where IT systems can finally collaborate and act as one.

Nils Petter Nygaard, Managing Director at EQT and Scaleup Europe Fund, said:

European healthcare is complex. Tandem is one of the few healthcare technology companies to demonstrate that it can scale pan-European, already supporting more than 10,000 care organisations with AI that reduces administrative burden and frees up time for higher-impact work. We believe Tandem has the potential to become a foundational AI layer for European healthcare over the coming decades.

Setting a new standard in healthcare

Every generation of healthcare innovation has set a new standard. X-ray. Penicillin. Pacemaker. CT scanner. IVF.

Each of these were invented in Europe.

It is now time to set the next standard from Europe again, bringing healthcare into the AI era.

Working in tandem with clinicians, patients, systems and nations.

That’s how we’re taking care of healthcare.

Want to help build the company that makes our mission possible? Visit our careers hub.

About Tandem Health

Tandem Health is a European healthtech company building AI that clinicians can trust. Its AI Medical Assistant supports clinicians across the full patient visit, from documentation to coding and clinical decision support. CE marked under the EU Medical Device Regulation, certified under ISO 27001, ISO 13485, ISO 42001, and BSI C5, and integrated with more than 130 medical record systems across Europe, Tandem is used by 10,000 care organisations across 14 markets.

About the Scaleup Europe Fund

The Scaleup Europe Fund, managed by EQT, is a commercially driven alternative investment fund backing ambitious European technology companies with the potential to become global leaders. Targeting €5 billion, the Fund brings together public and private capital and invests across Deeptech, AI and Life Sciences.
http://scaleupeuropefund.eu/

About EQT

EQT is a global investment organization with a Nordic heritage and more than three decades of experience developing companies. With €341 billion in total assets under management, EQT invests across the full lifecycle of companies, from start-up to maturity.
https://eqtgroup.com/

Media contact

Katya Escala | PR & Comms at Tandem Health
katya.escala@tandemhealth.ai
+44 07784097315

Sources

[1] Tandem peer-reviewed research
[2] Shortage of health and social care workers in Europe: need to bolster national health services and staff training
[3] Population projections in the EU
[4] Old-age dependency growing across EU regions