BCB Medical: data-life-wisdom

BCB Medical is active at the interface where big data meets healthcare. “We have developed software to monitor treatments on more than 80 disease groups and then process and analyse the information in order to allow healthcare providers to offer better medical solutions,” says Petteri Viljanen, co-founder and CEO of BCB Medical.

“We collect medical data from patients prior, during and after treatment, using anything from 500 to 3000 data fields per patient. Then, we look at how patients reacted to the various treatments. We examine and compare the results and share our findings with hospitals and doctors so that they can shape future treatments accordingly,” explains Petteri.

The larger the database, the more accurate common patterns will be, so the expansion and internationalisation of the company was essential. To facilitate this process, BCB Medical received an important investment in 2017 from Standout Capital, an EIF-backed private equity firm specialised in the growth phase of technological companies.

“Standout Capital saw a unique software that was already up and running with a successful portfolio of clients - a company with the potential to go global but that needed a little push,” says Petteri. That ‘push’ came from two angles: “Alongside the financial investment, Standout Capital has helped us establish a professional and international board formed of members with relevant expertise,” he adds, “One year after the investment, we are already working across Scandinavia and northern Europe. Our aim is to cover the UK and central and southern Europe. Eventually, we would also like to include the US.”

The origins of BCB Medical are as unique as its software. “I used to be a professional player at FC Inter Turku. When I retired, I started working at a company that developed software to manage the rentals and storage of VHS tapes at video clubs. One day, a hospital asked us if we could develop similar software for tissue banking. One thing led to another and, well, here we are today,” says Petteri.

Company: BCB Medical (Turku, Finland)

Type of business:  healthcare, ICT

EIF financing:  COSME EFG

Financial Intermediary: Standout Capital

For further information abiout EIF intermediaries in Finland please refer to: http://www.eif.org/what_we_do/where/fi