Healthcare private equity company TVM Capital Healthcare has invested $17m in German mental healthcare company neurocare group.

The funding marks TVM Capital Healthcare’s ninth investment made with the aim of increasing access to healthcare services in the Middle East and North Africa (MENA) region.

neurocare will use TVM Capital Healthcare’s investment to implement its international growth plan, which includes expansion within the US and entry into Saudi Arabia’s healthcare market.

The company will also use the funding in its development of new software and hardware innovations.

TVM Capital Healthcare managing partner Tristan de Boysson said: “This investment is part of our strategy of investing in highly innovative, best-in-class healthcare solutions that improve access to quality care across the globe.

“A special objective of the firm is improving the healthcare infrastructure in Saudi Arabia and the wider MENA Region.”

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Based in Munich, Germany, neurocare specialises in customised mental health care services.

The company uses its digital therapy platform (DTP) to deliver a range of patient-centric treatment services to address various neurological and psychological conditions.

It also provides mental healthcare tools and methods such as psychotherapy, therapeutics, TMS, neurofeedback and sleep assessment to address these psychological and neurological issues.

neurocare group founder and CEO Thomas Mechtersheimer said: “We are very pleased to announce the cooperation with TVM Capital Healthcare, a strong partner with deep industry experience.

“I want to thank all involved parties, especially bm-t Thüringen, Aescuvest and Goerg Lawyers, for their advice and support in closing this financing.”

Earlier this year, TVM Capital Healthcare made a substantial equity investment in Vietnamese eye care company Alina Vision alongside the Fred Hollows Foundation and Rohto Pharmaceutical.

Founded by the Fred Hollows Foundation, Alina Vision offers affordable eye health services to address the needs of underserved communities.