Healthtech Beep Saúde Receives R$110 million Capital Injection

In mid-April, Brazilian healthtech Beep Saúde received an investment of R$ 110 million via a series B round led by North American fund Valor Capital Group, which has previously invested in now-thriving Brazilian unicorns such as Loft and Gympass. Following this latest capital injection, Beep Saúde announced its market value has reached R$670 million.

Beep Saúde was founded in 2016 by physician Vander Corteze with the goal of creating “an Uber for vaccines and diagnostic tests”. Today, the company is the market-leader for residential vaccination in Brazil and its services are available in 110 cities of the states of Rio de Janeiro, Distrito Federal, São Paulo and Paraná. In March alone, the company performed over 20,000 proceedings throughout the country.

With the secured investment, Beep Saúde plans to accelerate its growth and expand the company’s operations to the states of Espírito Santos and Minas Gerais, as well as increase its range of services. Since October 2020, the startup has been offering residential laboratory tests in Rio de Janeiro for the clients of private health plans such as Bradesco and Care Plus, which include neonatal heel prick tests, fetal sexing, and Covid-19 testing.

The healthtech currently has 500 employees and 250 open positions and intends to double these numbers by the end of the year. According to Mr. Corteze, Beep Saúde’s long-term goal is to become a one-stop-shop for healthcare, provide all major health services on one single platform and deliver these services in the comfort of the user’s home.

Amidst the Covid-19 pandemic, with the inability of the Brazilian universal healthcare system (SUS) to provide treatment for all citizens, the private healthcare sector is booming. Moreover, over the next decades, the sector should continue to grow considering the aging demographic of the Brazilian population.

“Before the pandemic, there wasn’t much certainty about the demand and outlook for services provided by healthtechs. Over the past year, these uncertainties have been shattered, changing habits that will surely never fully be the same. Unsurprisingly, 2020 was marked by several rounds of investment into startups focusing on the healthcare sector.”, stated Michael Nicklas, managing partner of Valor Capital Group.