The medical tourism agencies industry in the DACH region focuses on facilitating cross-border travel for healthcare services. Companies range from specialized medical tourism agencies to healthcare providers offering targeted packages for international patients. These agencies assist with coordinating travel arrangements, treatment options, and post-procedure care. As patients seek high-quality healthcare at competitive prices, the sector is witnessing steady growth. Notably, factors like technological advancements, increased global connectivity, and rising healthcare costs in home countries are shaping the future. The DACH region's reputation for healthcare excellence positions it as a premier destination for medical tourists seeking specialized treatments.


The list features a mix of venture capital firms and a private equity giant, primarily located across Germany, Austria, and Switzerland. Founded between 1993 and 2020, these investors vary in size from small teams to substantial organizations managing thousands of employees. With 2024 seeing significant deal activity, including over 80 investments combined, they have demonstrated a strong interest in health tech and medical tourism. Investors like IBB Ventures and Partners Group showcase a robust commitment to funding innovation in medical services, highlighting the growing appeal of this emerging sector.


Top 12 Medical Tourism Agencies Investors in DACH


1. Calm/Storm

  • Website: calmstorm.vc
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 13
  • LinkedIn: calm-storm

Calm/Storm Ventures is a venture capital firm based in Vienna, Austria, founded in 2020. The firm specializes in early-stage investments in health tech startups, focusing on purpose-driven founders. They provide capital, support, and networking opportunities to help these companies succeed in the competitive health tech landscape. Notably, Calm/Storm has invested in Qunomedical, which raised ten million euros in a Series A financing round for its B2B solution 'Qunosuite', directly linking them to the medical tourism industry. Additionally, they have participated in funding rounds for other healthcare startups like Lillian Care, which aims to address primary care shortages, and Livv Health, further demonstrating their commitment to health-related ventures. Their portfolio includes diverse teams addressing sensitive health issues, reinforcing their relevance in the healthcare sector.


2. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, particularly in sectors such as life sciences and software. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping them navigate the challenges of growth and development. Notably, they have invested in companies like iATROS, which raised funds for healthcare solutions, and GME Medical Engineering, which focuses on medical engineering and expanding its product portfolio for global markets. Their investment in ADVANOVA GmbH, which develops mobile electronic patient charts for hospitals, further emphasizes their commitment to healthcare innovation, making them a relevant player in the medical tourism sector.


3. TA Ventures

  • Website: taventures.vc
  • Type: Venture Capital
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: ta-ventures

TA Ventures is a venture capital firm based in Frankfurt, Hesse, Germany, founded in 2010. The firm specializes in early-stage technology startups across various sectors, including HealthTech and FinTech. With a global presence, TA Ventures provides capital and strategic support to help startups grow in competitive markets. Notably, they have invested in several companies relevant to medical tourism, such as Medigo, which raised $2,898,395 in a seed round in 2014, and itravel, which raised $7,349,276 in a Series B round in 2018 and $2,218,963 in a Series A round in 2016. Additionally, they invested in WAH Holidays and Dreamlines, further showcasing their engagement in the travel and health sectors. This diverse portfolio highlights their capability and interest in supporting businesses that operate at the intersection of healthcare and travel.


4. Wellington Partners


Wellington Partners is a Munich-based venture capital firm founded in 1998, specializing in life sciences. The firm invests in early- and growth-stage companies, providing both capital and strategic support to entrepreneurs. Their focus is on helping innovative startups develop breakthrough technologies and achieve market success. Notable transactions include investments in Polares Medical, which is developing a trans-catheter mitral valve hemi-replacement system, and TRiCares, which focuses on healthcare solutions that may enhance patient care. These investments highlight Wellington Partners' commitment to advancing medical technologies, which can play a significant role in the medical tourism sector by improving healthcare delivery and patient outcomes.


5. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has supported over 270 startups, providing them with the necessary funding and resources to thrive in competitive markets. Notably, IBB Ventures has invested in several companies that align with the medical tourism sector, including Krankenhaus, which raised funds in both Seed and Series A rounds, focusing on healthcare services. Additionally, they participated in the Series A financing of Medbelle, a startup that operates in the healthcare space across the UK and Germany. These transactions highlight IBB Ventures' commitment to supporting innovative healthcare solutions, further establishing their relevance in the medical tourism industry.


6. Endeavour Vision

  • Website: endeavourvision.com
  • Type: Venture Capital
  • Headquarters: Geneva, Geneva, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: vision-capital

Endeavour Vision is a venture capital firm based in Geneva, Switzerland, founded in 2000. The firm specializes in healthcare technology, providing investment and strategic guidance to healthcare innovators. Endeavour Vision supports companies that aim to improve patient care and modernize healthcare systems. Notable transactions include their participation in funding rounds for Polares Medical, which raised $40 million and $25 million in Series B and A funding respectively for a trans-catheter mitral valve hemi-replacement system, and IntelyCare, a nurse staffing platform that raised $115 million in Series C funding. Additionally, they were involved in a $50 million Series G funding round for Relievant Medsystems, which focuses on expanding operations and R&D efforts. These investments reflect Endeavour Vision's commitment to advancing healthcare technologies that could benefit the medical tourism sector.


7. SHS Capital


SHS Gesellschaft für Beteiligungsmanagement mbH, commonly known as SHS Capital, is a private equity firm based in Germany, founded in 1993. The firm specializes in healthcare investments, focusing on providing capital and strategic support to fast-growing healthcare companies. SHS Capital has been involved in several notable transactions, including the funding of Dr.Dropin, a company that aims to expand its modern healthcare services beyond Norway, which could relate to medical tourism. Additionally, they have acquired Puracon, a company that may have synergies with healthcare services. Their involvement in multiple funding rounds for Miracor Medical, a company developing innovative medical technologies, further demonstrates their commitment to advancing healthcare solutions. Overall, SHS Capital's focus on healthcare investments positions them as a potential investor in the medical tourism sector.


8. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative approach and commitment to sustainability. Among their notable transactions, Partners Group has acquired Forefront Dermatology, a significant player in the dermatology sector, and EyeCare Partners, an integrated optometry-ophthalmology platform. These acquisitions highlight their strategic interest in healthcare services, which is relevant to the medical tourism industry. Additionally, their investment in Bluesea Hotels, a hospitality platform, indicates a broader interest in sectors that complement medical tourism, such as hospitality and travel.


9. Earlybird Venture Capital


Earlybird Venture Capital is a venture capital firm based in Germany, founded in 1997, that specializes in investing in European technology innovators. With a focus on early-stage companies, Earlybird provides financial resources and strategic support, particularly in the digital health and deep tech sectors. Notable transactions include investments in Polares Medical, which is developing a trans-catheter mitral valve hemi-replacement system, and eHealth MediDate, a platform that likely supports healthcare services. These investments highlight Earlybird's engagement in the healthcare industry, which is relevant to the medical tourism sector, as they support innovations that can enhance patient care and accessibility across borders.


10. Atlantic Labs

  • Website: atlanticlabs.de
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2013
  • Headcount: 11-50
  • Number of deals in 2024: 13
  • LinkedIn: atlantic-labs

Atlantic Labs is a venture capital firm based in Berlin, Germany, founded in 2013. The firm supports exceptional, mission-driven founders throughout their entrepreneurial journey, focusing on startups across various sectors, including climate tech, AI, and digital health. Notably, Atlantic Labs has invested in Medigo, which raised funds in both seed and angel rounds, directly targeting the medical tourism market by facilitating medical travel. Additionally, they participated in funding rounds for Medwing, a health-tech company addressing global healthcare worker shortages and improving access to healthcare, which aligns with the goals of medical tourism. Their strategic guidance and capital support aim to help these businesses grow, indicating a commitment to enhancing healthcare access and innovation.


11. Picus Capital

  • Website: picuscap.com
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: picus-capital

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. The firm specializes in early-stage technology investments and partners with innovative startups across various sectors, including fintech and healthcare. They provide not only capital but also strategic guidance and HR support to empower entrepreneurs in building sustainable category leaders globally. Notably, Picus Capital has invested in several healthcare-related companies, such as Meddo, which raised $3 million in a seed round, and Avi Medical, a Munich-based healthcare platform that has raised significant funding across multiple rounds, including $12 million in a seed round and €50 million in a Series B round. These investments highlight Picus Capital's commitment to the healthcare sector, which is closely related to medical tourism, as they support companies that may enhance healthcare accessibility and services.


12. Leaps by Bayer

  • Website: leaps.bayer.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: leapsbybayer

Leaps by Bayer is a venture capital firm based in Berlin, Germany, founded in 2015. It specializes in investing in early-stage companies that are pursuing scientific breakthroughs in biotechnology and agriculture, addressing significant global challenges in health and food security. In 2024, Leaps by Bayer has been actively investing, with notable transactions including Transcarent, which raised $126 million in Series D funding, and Summer Health, which secured $11.65 million in Series A funding. These investments reflect a commitment to innovative health solutions, which may align with the interests of medical tourism agencies. Additionally, their involvement with 9amHealth, which raised funds in both 2022 and 2024, further emphasizes their focus on healthcare innovation.



Medical Tourism Agencies Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Calm/StormVienna, Vienna, Austria1-10202013
Bayern KapitalLandshut, Bavaria, Germany11-50199527
TA VenturesFrankfurt, Hesse, Germany11-5020105
Wellington PartnersMunich, Bavaria, Germany11-5019989
IBB VenturesBerlin, Berlin, Germany11-50199718
Endeavour VisionGeneva, Geneva, Switzerland11-5020002
SHS CapitalGermany11-5019932
Partners GroupBaar, Zug, Switzerland1001-5000199619
Earlybird Venture CapitalGermany51-200199729
Atlantic LabsBerlin, Berlin, Germany11-50201313
Picus CapitalMunich, Bavaria, Germany11-50201528
Leaps by BayerBerlin, Berlin, Germany11-50201516


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