Health tech startup DEO raises €1 million to expand operating room efficiency platform
Genk. Belgium-based DEO (Data-driven Efficiency for the Operating Room), a company providing an innovative Operating Room Efficiency Platform that enables hospitals to cope with the sustainability challenges in the healthcare sector, raises €1 million from a series of investors, including LRM, imec.istart, OrthoGrow, and multiple private investors.
DEO is proud to announce a successful funding round, securing an investment of €1 million to expand its Operating Room (OR) Efficiency Platform.
Initial investors, OrthoGrow, the imec.istart Fund, and Johnny Kegels, continue their support while new investment parties, including LRM (Limburgse Reconversie Maatschappij), ZOL (Ziekenhuis Oost-Limburg), and a group of undisclosed business angels, contribute additional funding.
OR Efficiency Platform
DEO’s mission is clear: resolve the sustainability challenges in the healthcare sector by collaborating with hospitals dealing with increasing patient volumes, strained budgets, and fostering better employee health and well-being. For the development of their business they could count on the support of Belgium's largest startup accelerator, Start it @KBC. During the past 4 years, DEO has been developing and validating its OR Efficiency Platform by continuously capturing unique data points in ORs in Europe and the US, and analyzing these via its predictive data model to maximize positive impact on hospital finances, staff and throughput times. This way, the Belgian health tech startup wants to do their part to ensure future patients access to safe, successful, and efficient surgeries.
Funding round
The funding will enable DEO to continue its ambitious growth path and expand its existing customer footprint within orthopedics to conduct even more projects in European and US hospitals. Collaborating with more reference centers will naturally extend the body of data for its OR Efficiency Platform, and, in turn, contribute powerful insights into DEO’s exclusive database of best practices for improved efficiency.
Jeroen Dille, founder and CEO of DEO, welcomes the investor backing and says: “This capital injection and trust from our investors, in the middle of the corona crisis, shows the important impact of our OR Efficiency Platform and how we now, more than ever, can induce a real, meaningful change for all stakeholders—not just for patients, surgeons, and nurses, but also for hospitals, payers, and industry. We’re grateful and humbled to be playing a role in solving the severe industry challenges, helping hospitals cope with high case volumes while creating an environment where patients feel safe.”
“DEO is a great example of a young, innovative business that combines its expertise in the world of ICT and the healthcare sector to create a more efficient and safer care environment for all people concerned”, explains LRM General Director Tom Vanham. “In addition, DEO is based at C-mine Crib in Genk, one of the Limburg incubators, where it is part of a dynamic community of like-minded companies and where it can rely on expert advice in order to move on to the next level. As such, we are very proud to welcome DEO as part of our portfolio.”
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About DEO
DEO—headquartered in Genk, Belgium—has developed an innovative Operating Room Efficiency Platform that enables the healthcare system to reduce pressure on the surgical team, reduce the total cost of treatment, and increase patient volume while maintaining the quality of care. Through a data-driven approach, DEO collects and analyzes efficiency and ergonomics data within the OR and implements best-in-class processes and technology for efficient care delivery. For more information: www.deo.care
About LRM
LRM is an investment company that develops and stimulates economic growth in Limburg. The company provides a solid foundation, allowing companies and projects that create jobs in Limburg to grow. Together with Limburg’s key assets, their financial means and economic expertise create a unique breeding ground. For more information: www.lrm.be
About OrthoGrow
OrthoGrow—headquartered in Zaventem, Belgium—is a medically-oriented company with a mission to help both companies and hospitals efficiently grow and accelerate their activities. Founded in 2016, OrthoGrow started as an advisory firm with solid sales & marketing, quality and regulatory, logistics, and distribution expertise. The company has now established a strong healthcare market positioning. For more information: www.orthogrow.group
