Cercare Medical Secures €7.4 Million in New Funding

Cercare Medical has raised €7.4 million (£6.17 million GBP/$7.77 million) in its latest funding round led by U.K.-based West Hill Capital. The money will be used to expand operations in key markets, with a focus on the United States, the United Kingdom, and selected European countries.

Cercare Medical’s software (CMN) provides advanced perfusion maps for both CT and MRI imaging, equipping clinicians with a comprehensive tool to assess brain tissue pathologies. Over recent years, the company has achieved yearly triple-digit growth and has been adopted by prominent stroke and oncology facilities in more than 23 countries. Its technology has also been featured in medical journals and cited in more than 30 key clinical publications. As part of its expansion strategy, Cercare Medical is deepening its collaborations with key industry partners, including Microsoft, Siemens, Blackford, Aidoc, SECTRA, TeraRecon, and Viz.AI.  

“Now is the time to further expand our global presence,” Cercare Chairman Jeppe Øvlesen said. “Europe has been our starting point. Although we already have a presence in the U.S., Korea, and Latin America, we aim to replicate our significant success in new markets. This requires investing in growing our local teams and strengthening partnerships with industry leaders. This funding marks a significant milestone in our journey. It brings us closer to our mission of integrating metabolic perfusion imaging into the clinical workflows of leading oncology and stroke facilities on a world-wide scale.”

Private equity and venture capital firm West Hill Capital has long recognized Cercare Medical’s potential. “We believe Cercare Medical is positioned to transform the medical imaging sector with its perfusion software,” West Hill Capital Partner/Co-Founder Alan Richards said. “We’re thrilled to support their next phase of growth.” For this capital raise, West Hill Capital has worked as a broker connecting strong individual investors with Cercare Medical.

Over the last decade, West Hill Capital has identified and supported numerous technology companies, deploying more than €600m (£500m GBP/$620) into various high-growth companies in various sectors throughout the United Kingdom and abroad. Other prominent investors in Cercare Medical include various family offices such as Norwegian Smedvig, Swiss/Norwegian Canica and Danish Bagger-Sørensen.

“The last few years have demonstrated the immense potential of our platform. Now is the time to take the next steps with strong investors and partners. With this latest funding, we aim to scale our platform to serve hundreds of leading hospitals worldwide within a few years,” Cercare Medical CEO Professor Kim Mouridsen commented.
 
Cercare Medical provides advanced perfusion imaging solutions. With fully automated and multi-vendor compatible software for CT and MRI perfusion imaging post-processing, the company delivers cutting-edge technology that enhances patient care and advances medical diagnostics across various neurological conditions, including stroke, oncology, Alzheimer’s, dementia, and COVID-19. Its proprietary biomarkers allow for better, more precise imaging maps, improving decision-making in critical care and enhancing neuroimaging. This innovative technology has led to widespread adoption by hospitals and clinics worldwide.