Glytec has secured a $36m growth investment aimed at the continuous expansion of its diabetes technology platform.
The funding will expand Glytec’s Glucommander SaaS solution and support new technology developments to tackle the increasing health crisis of diabetes and related conditions worldwide.
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The investment, spearheaded by Hayfin Capital Management and Savitr Capital, comes at a critical time as diabetes incidence exerts significant pressure on healthcare systems.
Glytec CEO Patrick Cua said: “Savitr Capital and Hayfin Capital share our belief in the transformative power of technology to improve patient outcomes and alleviate the burden of complex chronic diseases.
“This capital will enable us to expand our R&D initiatives, scale our platform, and continue to attract top-tier talent as we revolutionise metabolic healthcare.”
Insulin therapy is essential for more than one-third of all hospitalised patients to manage high blood sugar levels.
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By GlobalDataAdverse events related to hypoglycaemia in hospitals, which affect more than two million patients annually, cost the healthcare system upwards of $8bn, as reported by the Agency for Healthcare Research and Quality (AHRQ).
These events also contribute to extended hospital stays and the requirement for readmissions.
Despite these challenges, around one-third of hospitals lack glucose management metrics, and 59% do not use automated methods to monitor hyperglycaemia and hypoglycaemia rates.
Glytec’s platform addresses these issues by enabling caregivers to administer precision insulin management and optimise metabolic health outcomes, thereby enhancing patient care.
Its Glucommander cloud-based solution helps in inpatient glycaemic management. It also helps hospitals lessen costs and increase revenue through shorter patient stays.
Savitr Capital managing member Andrew Midler said: “Glytec stands at the intersection of cutting-edge AI and critical healthcare need.”
Recently, Glytec partnered with MUSC Health to enhance diabetes and glycaemic management across the latter’s hospital network.
