The move will fund growth on Heels of Banner Year and initiate American Hospital Association Partnership
The Hinduja supported MindMaze, a global pioneer in the multibillion-dollar digital neurotherapeutics market, has secured a $105 million financing round to accelerate its global commercial growth plans, supercharge ongoing R&D and consolidate the clinical development pipeline of its industry- defining digital therapeutic solutions for a wide spectrum of neurological diseases.
The financing round provides immediate access to funds, and a financing facility to fund growth and future acquisitions. The financing was led by Concord Health Partners (Concord), a US-based healthcare private equity firm focussed on investing in and supporting healthcare companies with innovative technologies and solutions that address quality, cost and access to care along with other investors.
AlbaCore Capital Group, one of Europe’s leading specialist investors focusing on public and private markets, are building on their existing investment as a reflection of their continued commitment to the Company. This round also included participation from London-based Hambro Perks, an investor with deep expertise in the sector and a global portfolio of disruptive, highly scalable companies, and several family office investment groups. Furthermore, as a result of Concord’s investment, MindMaze will initiate a partnership with The American Hospital Association (AHA). The AHA is committed to the advancement of innovative healthcare solutions and serves as the national advocate for its provider member organisations, including nearly 90 per cent of US hospitals, health systems and other health care organisations as well as 300,000 executives from health care organisations in the field.
The Hinduja backed MindMaze is ushering in a new era of medicine through novel tech-enabled protocolised software and hardware peripherals to address serious cognitive and movement deficits. The funding announcement underscores the company’s position as a pioneer in digital neurotherapeutics on the heels of a tremendous milestone for reimbursement with Category III codes for asynchronous care. The company is poised to change the care paradigm for millions of patients and caregivers globally. The venture is also backed by Leonardo Dicaprio.
“This funding allows us to ramp up commercial activity and expand our footprint in the U.S, as well as gain access to strategic partners as we continue to deploy solutions across the continuum of care globally,” said Tej Tadi, Founder and CEO, MindMaze.
Hinduja supported MindMaze is ISO 13485 certified and its product portfolio has received three FDA clearances and four CE marks across multiple clinical indications. Operating in more than twenty countries, the company delivers seamless digital assessments and therapeutics over the full continuum of care for thousands of patients suffering from neurological conditions.