The medical tourism agencies industry in Europe connects patients with healthcare services across borders, enabling individuals to access quality treatments at competitive prices. Companies operating within this sector range from travel agencies focused on healthcare to medical facilities offering specialized services tailored to international patients. The industry is thriving, driven by a growing demand for affordable healthcare and the experience of experienced providers. As patients increasingly seek tailored services and transparent pricing, innovative technologies and strategic partnerships are shaping the future of this dynamic market, presenting attractive opportunities for investment and growth.


This list features a variety of influential investors in the medical tourism sector, including venture capital firms, private equity players, and corporate financiers. Headquartered in strategic locations like Paris, London, and Stockholm, these firms brought meaningful investments to medical tourism in 2024. They range in size from small teams to large institutions, fostering entrepreneurial growth and innovation. Notable investors include Bpifrance French Tech Accélération and the European Investment Bank, signaling considerable attention on this impactful industry.


Top 15 Medical Tourism Agencies Investors in Europe


1. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a public entity and financial institution based in Paris, Île-De-France, France, founded in 2015. It supports entrepreneurs and businesses in France and internationally through a variety of services, including direct funding, export credit insurance, and private equity investments. Bpifrance aims to foster entrepreneurship and innovation by providing coaching and partnerships to help businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the medical tourism context, such as their investment in Santexpat.fr, which raised EUR 3 million to support health insurance solutions for expatriates, and Mobee Travel, which raised €1.5 million to assist travelers with reduced mobility. These investments highlight Bpifrance's commitment to enhancing travel and health services, aligning with the interests of medical tourism agencies.


2. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and focuses on investing in life science companies at various stages of development. Novo Holdings provides capital and strategic support to enhance healthcare solutions. Notably, they have participated in significant transactions such as the investment in Manipal Hospitals, which is a prominent healthcare provider that could cater to medical tourists. Additionally, their involvement with Doctor Anywhere, a tech-led healthcare company, highlights their commitment to innovative healthcare solutions that can improve access and quality of care, which is essential for medical tourism. Their diverse portfolio and strategic investments in healthcare-related companies position them as a relevant player in the medical tourism sector.


3. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In recent years, the EIB has been actively involved in financing healthcare-related initiatives, particularly in the medtech industry. Notable transactions include a €15 million financing agreement with eCential Robotics for research and innovation in neuro-musculo-skeletal surgery, as well as debt financing for companies like medneo, Vivasure Medical, and Robocath. These investments highlight the EIB's commitment to enhancing healthcare technologies, which is integral to the medical tourism sector.


4. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has participated in several transactions, including investments in Handiscover, a company focused on accessibility in travel, and Nordic Health Innovation, which raised $2 million in a venture round. These transactions highlight Almi's engagement in sectors that could relate to medical tourism, particularly in enhancing healthcare access and innovation.


5. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. The firm has made significant strides in the healthcare sector, with notable transactions including the acquisition of International Health Insurance Danmark in 2001, which indicates an early interest in health-related investments. More recently, EQT acquired Icon Group in 2021, enhancing its footprint in cancer care services, and Terveystalo Healthcare in 2013 for over $862 million, further solidifying its commitment to healthcare. Additionally, the acquisition of MHC Asia Group in 2019 highlights EQT's strategy to manage corporate healthcare benefits in Southeast Asia, a region known for its medical tourism potential. These transactions reflect EQT's active role in the healthcare industry, making it a relevant investor in the context of medical tourism agencies.


6. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in companies that intersect with the medical tourism sector, such as VOSAIO Travel Group, a specialist in group travel, and Travcorp Holdings, which operates travel-related services. Their investment in Primary Care Physio further highlights their engagement in the healthcare space, making them a potential player in the medical tourism industry.


7. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm founded in 2005, specializing in private equity, credit, secondaries, and infrastructure. Based in Luxembourg, it manages approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant strides in the healthcare sector, acquiring major entities such as the Metropolitan Hospital Group in Greece, Hellenic Healthcare Group, and a 15% stake in Siloam International Hospitals in Indonesia. These transactions highlight CVC's commitment to enhancing healthcare access and services, which is integral to the medical tourism industry. Additionally, their acquisition of Quironsalud and ELSAN further emphasizes their strategic focus on healthcare investments, making them a relevant player in the medical tourism landscape.


8. Kima Ventures

  • Website: kimaventures.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2010
  • Headcount: 1-10
  • Number of deals in 2024: 50
  • LinkedIn: kima-ventures

Kima Ventures is a venture capital firm based in Paris, Île-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, backing two startups per week with financial support and mentorship. Among their notable transactions, Kima Ventures has invested in Qunomedical, a digital health platform that facilitates medical tourism by connecting patients with healthcare providers across borders, and Urgence Docteurs, which offers telemedicine services that can be relevant for patients seeking medical care abroad. These investments highlight Kima Ventures' engagement in the healthcare and medical tourism sectors, showcasing their commitment to supporting innovative solutions in this space.


9. Sofinnova Partners


Sofinnova Partners is a Paris-based venture capital firm founded in 1972, specializing in life sciences investments. The firm focuses on supporting innovative healthcare startups through funding and strategic guidance, particularly in the biopharma and medtech sectors. Notable transactions include their participation in funding rounds for myTomorrows, an online healthcare platform aimed at improving access to drugs in development, and EndoRon Medical, which is developing medical technologies. These investments reflect Sofinnova's commitment to fostering advancements in healthcare, which is relevant to the medical tourism industry as it seeks to enhance patient care and access to medical services.


10. 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 aimed at enhancing medical tourism services. Additionally, they have participated in funding rounds for other healthcare startups like Lillian Care, which addresses primary care services, and Livv Health, further demonstrating their commitment to the healthcare sector. Their portfolio includes diverse teams tackling sensitive health issues, reinforcing their relevance in the medical tourism context.


11. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. The platform promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions, including the London Doctors Clinic, which raised $36,380 in equity crowdfunding in March 2022, indicating its engagement in the healthcare sector. Additionally, it has supported other ventures like SuperAger World, which raised $178,271 in October 2019, although this is less directly related to medical tourism. Overall, Crowdcube's involvement in healthcare-related funding positions it as a potential investor in the medical tourism agencies industry.


12. Eurazeo

  • Website: eurazeo.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1969
  • Headcount: 201-500
  • Number of deals in 2024: 40
  • LinkedIn: eurazeo

Eurazeo is a prominent investment management firm based in Paris, specializing in private equity, private debt, and real assets. Founded in 1969, the firm has established a significant presence in the investment management landscape, particularly in Europe. Eurazeo provides tailored investment strategies aimed at fostering growth and expansion across various sectors, including technology and healthcare. Notably, Eurazeo has made strategic investments in the healthcare sector, such as its participation in the Series B funding round for Avi Medical, a healthcare platform focused on launching physical clinics, and its acquisition of Cranial Technologies, which specializes in pediatric cranial orthotics. These transactions highlight Eurazeo's commitment to advancing healthcare solutions, which is relevant to the medical tourism industry.


13. Portugal Ventures


Portugal Ventures is a venture capital firm based in Porto, Portugal, founded in 2012. The firm specializes in investing in startups with global ambitions, primarily located in Portugal, and provides both capital and strategic support to help these startups grow and scale their operations. Portugal Ventures focuses on innovative projects across various sectors, including technology and health. Notably, they have invested in Medical Port, a company that raised $607,526 in a seed round in April 2014, which is directly related to medical tourism. This investment highlights their engagement in the medical tourism sector. Other transactions include investments in various startups, but Medical Port stands out as a clear connection to the medical tourism industry, showcasing Portugal Ventures' potential relevance in this field.


14. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity firm founded in 1945, specializing in private equity and infrastructure investments. The firm focuses on providing capital and expertise to mid-market companies, helping them grow sustainably. With a strong international presence and a diverse portfolio, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i has made significant investments in the healthcare sector, including the acquisition of ELSAN, a prominent private hospital operator in France, for $272 million in 2010. This acquisition positions 3i as a player in the healthcare market, which is closely related to medical tourism. Additionally, their investment in SYNLAB Group, a leading provider of laboratory services, further emphasizes their commitment to the healthcare industry. These transactions highlight 3i's capability and interest in supporting companies that could be involved in medical tourism.


15. Andera Partners

  • Website: anderapartners.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1953
  • Headcount: 51-200
  • Number of deals in 2024: 10
  • LinkedIn: anderapartners

Andera Partners is a private equity firm based in Paris, Île-De-France, France, founded in 1953. The firm specializes in investment management and focuses on providing financial support and strategic guidance to companies across various sectors, including life sciences and infrastructure. In recent years, Andera Partners has been involved in several significant transactions that highlight their commitment to the healthcare sector. Notably, they participated in the Series B and C financing rounds for TRiCares, a company that is developing healthcare solutions, raising €22m and €47m respectively. They also co-led a €32 million Series B round for HighLife, which is working on innovative medical devices. These transactions demonstrate Andera Partners' active role in supporting companies that could potentially impact the medical tourism industry by enhancing healthcare services and technologies.



Medical Tourism Agencies Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Novo HoldingsHellerup, Denmark51-200199945
European Investment Bank (EIB)Luxembourg1001-5000195899
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
BgfLondon, England, United Kingdom (UK)51-200201153
CvcLuxembourg1001-5000200516
Kima VenturesParis, Île-De-France, France1-10201050
Sofinnova PartnersParis, Île-De-France, France51-200197225
Calm/StormVienna, Vienna, Austria1-10202013
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
EurazeoParis, Île-De-France, France201-500196940
Portugal VenturesPorto, Porto, Portugal11-5020126
3i Group plcLondon, England, United Kingdom (UK)201-50019453
Andera PartnersParis, Île-De-France, France51-200195310


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