Cercare Medical, a leader in perfusion software for stroke and neurodegenerative diseases since 2013, announced today that it has raised €7.4 million (£6.17 million GBP / $7.77 million USD) in its latest funding round, led by UK-based West Hill Capital. This funding will be used to expand operations in key markets, with a focus on the United States, the UK,
and selected European countries.
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Cercare Medical’s cutting-edge 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 groundbreaking technology has also been featured in leading 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,” said Jeppe Øvlesen, Chairman of Cercare Medical. “Europe has been our starting point. Although we already have a presence in the US, 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.”
West Hill Capital, a prominent private equity and venture capital firm, has long recognized the unique potential of Cercare Medical. “We believe Cercare Medical is positioned to transform the medical imaging sector with its perfusion software,” said Alan Richards, Partner and Co-founder of West Hill Capital. “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 world-leading technology companies, deploying more than €600m (£500m GBP / $620m USD) into a variety of high-growth companies, in various sectors, throughout the UK and abroad. Other prominent investors in Cercare Medical, include various family offices such as Norwegian Smedvig, Swiss/Norwegian Canica and Danish Bagger-Sørensen.
Professor Kim Mouridsen, CEO of Cercare Medical, commented, “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.”
