The Madrid-based startup, Galeneo, enables physicians and healthcare centers to provide home hospitalization tailored to each patient. Recently, it closed a one-million-euro funding round led by Ship2B Ventures through the BSocial Impact Fund – supported by the European Investment Fund, Banco Sabadell, and AXIS – along with the participation of other existing company partners.
The funds will be allocated, on one hand, to consolidate the B2B model for both clinics and hospitals and expand collaborations with the public sector and the pharmaceutical industry. On the other hand, they aim to continue developing their platform, enhancing the patient and family experience, as well as streamlining interaction with various healthcare professionals and providers within the decentralized hospital they are building.
According to founder and CEO Jaime García-Prieto, “Our mission is for a doctor to manage their patients from anywhere, ensuring continuity of care and the same quality as when patients are admitted to a traditional hospital ward.”
Since its launch in 2021, Galeneo has provided over 18,000 medical services, enabling more than 1,000 patients and their families to experience quality hospitalization in the comfort of their homes. All their hospitalization services are carried out under medical prescription and supervision, involving some of the most prestigious national and international healthcare centers and physicians as collaborators and prescribers.
With its proposition, the startup achieves a clear positive impact at three levels, benefiting patients and their families (improved quality of life, lower risk of infection, and reduced mortality, among others); benefits to the healthcare system (increased number of available beds, more quality time in consultations, and reduced admission costs, among others); and benefits to society (more efficient resource utilization, the possibility of treating more patients, and cost reduction, among others).
According to Jordi Ferrer, Investment Director at Ship2B Ventures, “Galeneo is a pioneering decentralized hospitalization project in Spain, with a significant social impact on three levels: Firstly, patients can have a better recovery from the convenience and warmth of their homes; secondly, there is greater family reconciliation by avoiding hospital visits, and thirdly, the hospital system increases its capacity in a cost-effective manner without investing in more infrastructure.”
The Alternative to Conventional Hospitalization
The aging population due to biomedical development results in an increase in the number of patients and their chronic conditions, leading to a consequent rise in long-term socio-healthcare costs per person. It is projected to double globally by 2050, even exceeding the GDP of some developed countries if this situation is not reversed.
A significant part of the problem lies in hospitalization costs, which, according to ministry data, exceed €700 per patient per day. Promoting initiatives that prevent unnecessary hospital admissions and early discharge without jeopardizing health is imperative for society.
Projects like Galeneo, advocating for decentralized hospitalization, encourage the use of hospital resources only for those patients who truly need them. Decentralized hospitalization has proven to be, on one hand, scalable during the pandemic, thanks to technological progress; on the other hand, capable of reducing hospitalization costs per patient by up to 30%; and most importantly, safer, more comfortable, and convenient for patients.
For Jaime García-Prieto, “Having the support of a prestigious impact fund like Ship2B Ventures gives us confidence and motivation for what we do and what we can achieve.”