The hospice care industry in the Nordics is focused on providing compassionate support and medical services to individuals facing terminal illnesses. Companies in this sector range from home care providers to institutional apartments for elderly clients, emphasizing personalized care and dignity in the final stages of life. As the population ages, demand for innovative solutions like telehealth and at-home services is on the rise. The industry is increasingly integrating technology to enhance patient monitoring and care, leading to improved outcomes and a more efficient allocation of resources. A commitment to quality service remains at the industry's core.

This article highlights prominent investors in the hospice care sector from the Nordics, showcasing a mix of venture capital firms, private equity companies, and corporate investors. Based primarily in Sweden, Denmark, and Finland, this group spans a variety of sizes, with investments ranging from early-stage funding to large acquisitions. Notably, many investors, founded between 1986 and 2005, made significant deal counts in 2024, reflecting a strong interest in enhancing healthcare services, particularly in hospice and elder care.

Top 17 Hospice Care Investors in the Nordics

1. 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, focused on managing the assets of the Novo Nordisk Foundation. Founded in 1999, it invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. In 2022, Novo Holdings acquired KabaFusion, a national provider of home infusion therapies, which is significant in the context of hospice care as it supports patients requiring specialized home healthcare services. Additionally, their involvement in various healthcare startups, such as Clever Care Health Plan Inc. and FIRE1, showcases their commitment to advancing healthcare solutions, including those that may benefit hospice care patients. With 45 investments in 2024, Novo Holdings is actively engaged in the life sciences sector, making it a notable player in the healthcare investment landscape.

2. 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 private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the healthcare sector, including the acquisition of Colisée, a company focused on elderly care, and Five Good Friends, an Australian home care provider that emphasizes technology-enabled care solutions. Additionally, their acquisition of Icon Group, Australia's largest cancer care service provider, highlights their strategy to expand healthcare investments. These transactions reflect EQT's commitment to enhancing care services, which is closely aligned with the principles of hospice care.

3. Nordic Capital

• Website: nordiccapital.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1989
• Headcount: 201-500
• Number of deals in 2024: 10
• LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, with a notable emphasis on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, focusing on sustainable investment opportunities for institutional investors. Among its significant transactions, Nordic Capital acquired Alloheim Senioren-Residenzen, a prominent German care home operator, from the Carlyle Group in December 2017, highlighting its commitment to the hospice and elder care industry. Additionally, the firm has invested in GesundHeits GmbH Deutschland, further demonstrating its engagement in healthcare-related sectors. Nordic Capital's strategy emphasizes long-term value creation and sustainability, making it a relevant player in the hospice care investment landscape.

4. Kinnevik

• Website: kinnevik.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1936
• Headcount: 11-50
• Number of deals in 2024: 10
• LinkedIn: investment-ab-kinnevik

Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. They specialize in partnering with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. Kinnevik provides both capital and operational support to help companies scale and create long-term value. Notably, Kinnevik has made significant investments in healthcare, such as VillageMD, which focuses on primary care, and Cityblock Health, which aims to expand community-based healthcare services. These investments reflect Kinnevik's strategy to redefine healthcare delivery and address pressing global challenges, making them a relevant player in the healthcare investment landscape.

5. Capio

• Website: capio.com
• Type: Corporate
• Headquarters: Gothenburg, Västra Götaland, Sweden
• Founded year: 1994
• Headcount: 10001+
• LinkedIn: capio

Capio is a corporate investor and private healthcare provider based in Gothenburg, Västra Götaland, Sweden. Founded in 1994, Capio operates health centers, specialist clinics, and hospitals across Sweden, Norway, Denmark, Germany, and France, focusing on delivering comprehensive medical care. Notably, Capio has made several strategic acquisitions to enhance its service offerings. In 2018, Capio acquired the Swedish group Legevisitten for an enterprise value of 365 million SEK, which is particularly relevant as it aims to improve services for elderly patients, a demographic closely associated with hospice care. Other acquisitions, such as Mathilden-Hospital zu Büdingen and Movement Medical I Halmstad, further illustrate Capio's expansion in the healthcare sector, although they are less directly related to hospice care. Overall, Capio's focus on elderly patient services positions it as a potential investor in the hospice care industry.

6. Ambea

• Website: ambea.com
• Type: Corporate
• Headquarters: Solna, Stockholm, Sweden
• Founded year: 1903
• Headcount: 10001+
• LinkedIn:

Ambea is a corporate investor based in Solna, Stockholm, Sweden, founded in 1903. The company specializes in elderly care, disability care, and psychosocial support services, serving municipalities across Scandinavia. With a focus on quality and innovation, Ambea operates through various divisions to ensure high standards of care and support. Notably, Ambea has made significant acquisitions in the care sector, including the acquisition of Aleris AB, which expanded their operations in Norway, Sweden, and Denmark, making them the largest care provider in the Nordic region. Additionally, their acquisition of Hannas Hemtjänst & Assistans AB, a home care service provider, further emphasizes their commitment to enhancing care services for the elderly. These transactions highlight Ambea's strategic focus on expanding their footprint in the care industry, which includes services relevant to hospice care.

7. VNV Global AB

• Website: vnv.global
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1996
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: vostok-new-ventures-ltd

VNV Global AB is a venture capital firm based in Stockholm, Sweden, founded in 1996. The firm specializes in providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and strong market positions. Notably, VNV Global has invested in Medoma, a Swedish digital therapy startup that raised €6 million in seed funding to develop virtual acute wards for patient care at home. This investment highlights their interest in enhancing patient care solutions, which is pertinent to the hospice care context. Additionally, VNV Global has been involved in significant funding rounds for Babylon, a health technology company, which further demonstrates their engagement in the digital health space.

8. Visma

• Website: visma.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1996
• Headcount: 10001+
• Number of deals in 2024: 16
• LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, specializing in cloud-based accounting, payroll, invoicing, and HR solutions. Founded in 1996, Visma serves small and medium businesses as well as public sector organizations, helping them automate and simplify their administrative processes. In recent years, Visma has made significant strides in the healthcare sector through strategic acquisitions. Notably, they acquired Ecare, a specialist in healthcare IT, to enhance their position in the Dutch healthcare market, aiming to improve efficiency and quality in healthcare services. Additionally, their acquisition of ZilliZ, which focuses on electronic client files for small-scale care providers, further demonstrates their commitment to expanding their presence in the healthcare sector. Other relevant transactions include the acquisition of DomaCare, which aligns with personal assistance and caregiving, and Oima, which supports employment relationships and payroll administration in caregiving contexts. These transactions highlight Visma's focus on healthcare technology, making them a relevant player in the hospice care investment landscape.

9. Inventure

• Website: inventure.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm specializes in backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been active in various sectors, including healthcare. Notably, they invested in Medoma, a Swedish digital therapy startup that raised €6 million to develop virtual acute wards for patient care at home, which is directly relevant to hospice care. They also led a €1.5 million seed round for Noona Healthcare, a digital health startup that aims to enhance patient management through artificial intelligence and predictive analytics. These transactions highlight Inventure's focus on innovative healthcare solutions that can improve patient care, making them a relevant investor in the hospice care space.

10. Investinor

• Website: investinor.no
• Type: Venture Capital
• Headquarters: Trondheim, Trøndelag, Norway
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Norway, founded in 2008. It specializes in providing funding to promising startups and companies, particularly in the health technology sector. Investinor collaborates with entrepreneurs and other investors, managing state interests in seed and venture funds. Among its notable transactions, Investinor has invested in Dignio, a Norwegian health technology company that raised NOK 85 million in a Series A funding round, with Investinor contributing NOK 20 million. Additionally, they are the largest shareholder in Eyr, a Norwegian e-healthcare company that secured NOK 22 million in funding, which aims to achieve profitability within 14 to 18 months. These investments highlight Investinor's commitment to advancing health technology, which can play a significant role in improving care for patients in hospice settings.

11. Creandum

• Website: creandum.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. The firm specializes in supporting early-stage entrepreneurs in building global, category-defining companies. They provide venture capital investment, strategic support, and networking opportunities to startups across various sectors, including fintech and health tech. Notably, Creandum has invested in Careship, a German marketplace for in-home senior care, which raised €6 million in funding led by Creandum in April 2018. This investment highlights their engagement in the senior care sector, which is closely related to hospice care. Additionally, Creandum has participated in funding rounds for Kry, a digital healthcare company, which, while not directly hospice care, operates within the broader health tech space. Their business model focuses on nurturing companies from seed to IPO, leveraging their expertise and connections to help entrepreneurs succeed.

12. Humana AB

• Website: humana.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2000
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: humana-ab

Humana AB is a not-for-profit organization based in Stockholm, Sweden, founded in 2000. The company specializes in a variety of social care services, including personal assistance, family support, healthcare, and elderly care. Humana's mission is to enhance the quality of life for individuals and families in need of assistance, as well as organizations seeking psychological support. In recent years, Humana has made strategic acquisitions to strengthen its position in the care sector. Notably, in 2024, they announced the acquisition of Team Olivia Norge AS, which is expected to enhance their operations in Norway and increase their revenue contribution from the region. Additionally, their acquisition of Rik Assistans in 2018 and Arjessa Oy, a Finnish psychosocial care provider, in 2016, further demonstrates their commitment to expanding their service offerings in the care industry, which may include hospice care services.

13. Bonnier Ventures

• Website: bonnierventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2013
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: bonnier-ventures

Bonnier Ventures is a Stockholm-based venture capital firm founded in 2013, operating as the investment division of the Bonnier Group. The firm focuses on providing capital and management support to promising companies in structurally growing industries, including healthcare, media, sustainability, fintech, and SaaS. Notably, Bonnier Ventures has made significant investments in the healthcare sector, such as in Medoma, which raised €6 million to develop virtual acute wards for patient care at home, highlighting their commitment to innovative healthcare solutions. They also invested in Doktor.se, a Swedish e-health startup that aims to expand its digital healthcare services, and Pilloxa, a medtech startup focused on improving patient adherence in clinical trials. These transactions reflect Bonnier Ventures' strategic interest in enhancing patient care and healthcare delivery, which are essential components of hospice care.

14. Sentica

• Website: sentica.fi
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2004
• Headcount: 11-50
• LinkedIn: sentica-partners

Sentica is a private equity firm based in Helsinki, Uusimaa, Finland, founded in 2004. The firm specializes in investment management services, focusing on providing capital and strategic support to businesses seeking growth or restructuring through private equity investments. Sentica has been involved in several notable transactions, including the acquisition of 9Lives Oy, Arjessa Oy, and Pihlajalinna. Among these, Pihlajalinna is particularly relevant as it operates in the healthcare sector, which may encompass hospice care services. Sentica's approach to investing in companies that require financial management and investment opportunities positions them as a potential player in the hospice care industry.

15. Finnfund

• Website: finnfund.fi
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1980
• Headcount: 51-200
• Number of deals in 2024: 7
• LinkedIn: finnfund

Finnfund is a not-for-profit development financier and impact investor based in Helsinki, Finland, founded in 1980. The organization focuses on creating sustainable futures by investing in companies that address global development challenges, particularly in developing countries. Finnfund provides investment and advisory services to promote economic growth and sustainability across various sectors. Notably, Finnfund has been involved in several healthcare-related transactions, such as Penda Health, which raised funds to enhance healthcare services, and Kasha, a startup that aims to improve access to health products for women in Africa. Additionally, their investment in Hewatele, a Kenyan social enterprise, highlights their commitment to supporting healthcare infrastructure, including the establishment of a liquid oxygen manufacturing facility, which is crucial for hospitals and healthcare providers. These transactions reflect Finnfund's active role in the healthcare sector, aligning with the objectives of hospice care.

16. CapMan

• Website: capman.com
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1989
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn: capman

CapMan Oyj is an investment management firm based in Helsinki, Finland, specializing in private equity, real estate, infrastructure, and natural capital investments. Founded in 1989, CapMan serves institutional investors by providing access to diverse investment strategies aimed at achieving sustainable returns. With a strong presence in the Nordic markets, CapMan leverages its expertise to manage funds and drive value creation for its clients. Notably, CapMan's investment activities include the acquisition of Esperi Care Oy, a prominent player in the care sector in Finland, which highlights their focus on healthcare investments. Additionally, CapMan has made investments in other healthcare-related companies, such as Oral Hammaslaakarit, further emphasizing their involvement in the healthcare industry.

17. Doro Group

• Website: doro.com
• Type: Corporate
• Headquarters: Rekekroken, Skåne, Sweden
• Founded year: 1974
• Headcount: 51-200
• LinkedIn: doro-ab

Doro Group is a corporate investor based in Rekekroken, Skåne, Sweden, specializing in consumer electronics designed for seniors. Founded in 1974, Doro focuses on creating easy-to-use mobile phones, tablets, and smart devices that cater to the specific needs of elderly users. In recent years, Doro has expanded its portfolio through strategic acquisitions in the care services sector. Notably, in 2021, Doro acquired FirstCall 24/7, a telecare provider, to strengthen its presence in the technology-enabled care services market in the UK. This acquisition, along with the purchase of Eldercare (UK) Limited in 2020 and Careium in 2014, highlights Doro's commitment to enhancing care solutions for seniors, which is relevant to the hospice care industry. Doro's products and services aim to ensure accessibility and ease of communication for elderly users, making them a potential player in the hospice care space.

Hospice Care Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Novo Holdings	Hellerup, Denmark	51-200	1999	45
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Nordic Capital	Stockholm, Stockholm, Sweden	201-500	1989	10
Kinnevik	Stockholm, Stockholm, Sweden	11-50	1936	10
Capio	Gothenburg, Västra Götaland, Sweden	10001+	1994	0
Ambea	Solna, Stockholm, Sweden	10001+	1903	0
VNV Global AB	Stockholm, Stockholm, Sweden	1-10	1996	1
Visma	Oslo, Oslo, Norway	10001+	1996	16
Inventure	Helsinki, Uusimaa, Finland	11-50	2005	9
Investinor	Trondheim, Trøndelag, Norway	11-50	2008	4
Creandum	Stockholm, Stockholm, Sweden	11-50	2003	17
Humana AB	Stockholm, Stockholm, Sweden	10001+	2000	1
Bonnier Ventures	Stockholm, Stockholm, Sweden	1-10	2013	1
Sentica	Helsinki, Uusimaa, Finland	11-50	2004	0
Finnfund	Helsinki, Uusimaa, Finland	51-200	1980	7
CapMan	Helsinki, Uusimaa, Finland	51-200	1989	4
Doro Group	Rekekroken, Skåne, Sweden	51-200	1974	0

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