Swedish company Tandem Health has raised 100 million dollars in a Series B round led by the Scaleup Europe Fund, which is managed by EQT, the firm said on 22 September. The deal takes total funding to 160 million dollars and ranks among the largest health-technology raises in the Nordic region this year. Tandem builds an AI assistant for clinicians that drafts patient summaries, supports clinical decisions and handles documentation and coding during consultations.
The Stockholm company operates in 14 European markets and says it serves more than 10,000 care organisations, with partners including Ramsay Sante, the Italian group Humanitas and Britain’s National Health Service. It holds three Class IIa certifications under the European Union’s Medical Device Regulation, a bar that many software makers avoid by staying clear of regulated clinical use, and one the company presents as a competitive moat.
Chief executive and co-founder Lukas Saari framed the funding as a question of who writes the rules for medical AI. “Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s,” he said. The company employs more than 75 in-house clinicians to shape and check its models, an unusually large medical team for a software firm of its size and a cost it argues is necessary for safety.
Nils Petter Nygaard, a managing director at EQT, said the appeal was Tandem’s ability to work across borders. “Tandem is one of the few healthcare technology companies to demonstrate it can scale in a pan-European way,” he said. Other backers in the round included Kinnevik, Northzone, Amino Collective and Visionaries. Company research cited a 29 percent cut in administrative time for clinicians using the tool, along with gains in job satisfaction and lower stress.
The raise reflects growing investor appetite for AI aimed at Europe’s strained health systems, where staff shortages and paperwork have pushed hospitals to look for automation. Tandem plans to use the money to add markets and deepen its footprint with existing customers, betting that regulatory certification and heavy clinical staffing will set it apart from a crowded field of medical scribe products chasing the same overworked doctors and nurses.
