Tandem Health raises $100 million for European healthcare AI

Stockholm-based Tandem Health has raised $100 million in Series B funding led by the Scaleup Europe Fund, managed by EQT, in the fund’s first healthcare AI investment. Existing backers Kinnevik, Northzone, Amino Collective, and Visionaries also joined, bringing total funding to $160 million.

Tandem develops an AI medical assistant for clinicians that prepares patient summaries, supports clinical decisions, and automates documentation and coding. Its AI Scribe, Coding Assistant, and Clinical Decision Support products are each independently certified as Class IIa medical devices under the EU Medical Device Regulation.

The company says clinicians using Tandem report a 29% reduction in admin time, a 30% improvement in job satisfaction, and a 30% reduction in administrative stress. Since being founded three years ago, Tandem has opened offices in 14 European markets and has been brought to over 10,000 care organizations, including Ramsay Santé, Humanitas, and the NHS.

New funding will support broader adoption across Europe, expansion of its clinician-led team of 75+ inhouse clinicians, and development of an AI-native Clinic Operating System designed to manage patient flows and handle more clinical tasks.