Goldman Sachs Invests $47.5 Million in Hospital Management Startup Kontakt.io
Goldman Sachs Invests $47.5 Million in Healthcare Startup Kontakt.io
In a strategic move to revolutionize hospital operations, Goldman Sachs Group Inc.’s growth equity unit has invested $47.5 million in Kontakt.io, a startup based in Poland. Kontakt.io specializes in providing bluetooth-connected devices that help hospital managers make informed decisions about patients, beds, and equipment.
This investment marks the 39th foray into the healthcare sector for Goldman’s growth equity division, signaling a strong vote of confidence in Kontakt.io’s innovative approach. Christian Resch, the Goldman partner leading the financing, emphasized that this deal is just the beginning of exciting developments for the bank’s portfolio.
Kontakt.io’s CEO, Philipp von Gilsa, highlighted the company’s mission to address inefficiencies in healthcare operations and alleviate pressures such as nursing shortages. By offering a comprehensive tracking system that covers everything from patient beds to ultrasound machines, Kontakt.io aims to help hospitals optimize their resources and ultimately save money.
The healthcare and life sciences IT market is projected to continue growing, with Gartner estimating an 8.3% increase to $245.8 billion by 2023. Despite this growth, startups in the healthcare space have faced challenges competing with established suppliers and navigating complex healthcare networks. Kontakt.io stands out by focusing on operational efficiency, a critical need in an industry where a significant portion of spending is wasted due to various issues.
With approximately 500 enterprise customers, including major players like HCA Healthcare Inc. and the UK’s National Health Service, Kontakt.io has already established a strong foothold in the market. The company’s revenue has been steadily increasing, with sales exceeding $7.5 million in 2022 and tripling in the past year. Notably, Kontakt.io has been profitable for the last four years, showcasing its sustainable business model.
Looking ahead, von Gilsa plans to use Goldman’s funding to expand the company’s engineering team and develop an automated system powered by artificial intelligence. By leveraging the vast amount of data collected from its devices, Kontakt.io aims to provide hospital staff with valuable insights and recommendations for daily operations.
As larger competitors like GE HealthCare Technologies Inc. also embrace AI to streamline hospital operations, Kontakt.io’s unique integration of sensors and software sets it apart in the market. Goldman’s Resch expressed confidence in Kontakt.io’s potential, citing the company’s strong foundation and innovative approach.
Overall, Goldman’s investment in Kontakt.io underscores the growing importance of technology in transforming healthcare operations and improving patient care. With a focus on efficiency and innovation, Kontakt.io is well-positioned to drive positive change in the healthcare industry.