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Europe just made a $100M bet that AI owns the clinic. 🏥
And the signal is bigger than the check.
According to The Next Web, Tandem Health closed a $100m Series B led by the Scaleup Europe Fund, managed by EQT. Existing investors Kinnevik, Northzone, Amino Collective, and Visionaries joined the round. This brings the Stockholm-based company’s total funding to $160m, following a $50m Series A in 2025.
Here is what makes this round worth paying attention to.
The Scaleup Europe Fund is an EU-backed vehicle. This is its first healthcare investment. Ever. When a sovereign-backed fund of that profile plants its first healthcare flag in a clinical AI company, that is not a portfolio decision. That is a policy statement.
🔹 Tandem started as an AI scribe, drafting clinical notes from consultations
🔹 It now delivers patient summaries before appointments and decision support during them
🔹 It handles documentation, coding, and follow-up tasks after the visit
🔹 Three components hold Class IIa medical device certification under EU Medical Device Regulation, all earned in the past six months
🔹 The platform connects to more than 130 medical record systems across Europe
🔹 10,000 care organisations in 14 European markets use it, including Ramsay Santé, Humanitas, and the NHS
That last point matters. The UK is Tandem’s largest market by number of users. They are not selling a demo. They are embedded.
💡 The new capital goes toward two things: deeper expansion in existing markets and what Tandem calls an AI-native Clinic Operating System, adding triage, scheduling, and patient communications on top of the existing clinical layer.
That is the real play here.
Most AI scribes are point solutions. You bolt them onto an EHR, reduce documentation time, and call it a win. Tandem is not stopping there. They are using documentation as the wedge to own the entire clinic workflow. That is a fundamentally different ambition, and a $100m Series B is the kind of capital that lets you actually build it.
CEO Lukas Saari put it plainly in the announcement: “Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s.”
Hard to argue with that framing.
In January, Tandem also acquired Juvoly, a Dutch AI scribe handling more than 200,000 consultations a month for over 1,500 GPs. That is not an acqui-hire. That is market consolidation.
The US has dominated clinical AI headlines. Ambient scribing, prior auth automation, revenue cycle AI, all of it has been led by American companies with American capital. This round is a reminder that Europe is not waiting around, and the EU is willing to put real institutional money behind that ambition.
The question is not whether AI will run the clinic. It will. The question is who builds the operating system underneath it.
👉 Follow Jonathan Govette, CEO of Oatmeal Health, for daily healthcare insights on LinkedIn. Deeper dives in The Oatmeal Bite on Substack: https://news.oatmealhealth.com
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Author:
CEO/Co-Founder @ Oatmeal Health | AI Lung Cancer Screening | Almost Became a Doctor | Engineer | Follow to Share What I’ve Learned Along the Way
I help patients get the care they need earlier, preventing late-stage cancer.
That’s been the throughline across three companies and almost 20 years in healthcare. At ReferralMD, we fixed broken referral networks so patients didn’t fall through the cracks. At Oatmeal Health, it’s lung cancer: building the diagnostic and screening infrastructure so the 85% of cases caught too late get caught early instead.
Today as CEO of Oatmeal Health, I lead a team embedding AI into radiology workflows to turn routine lung CT scans into reimbursable cancer risk assessments. We partner with FQHCs to reach underserved communities, and with health systems and payers to make early detection economically sustainable. Think HeartFlow or Cleerly, but for lungs.
Between companies, I advised at Techstars and Plug and Play, mentoring founders building in digital health. That experience shaped how I think about what separates companies that ship from companies that stall: distribution, reimbursement, and clinical trust, not just technology.
I’m a CancerX alumnus, a 3x healthcare founder, and someone who believes the biggest problems in cancer aren’t scientific. They’re operational.
We’re hiring mission-driven builders at Oatmeal Health. If you want to work on something that matters, reach out.
When I’m not working, I’m traveling, mentoring, and keeping up with one very energetic husky. 🐾
Substack – The Oatmeal Bite:
Millions of patients get less care because of who they are, where they live, or how they look. I’m fighting to change that. CEO @OatmealHealth, a startup built for the underserved. The Oatmeal Bite: intel for clinicians, investors, and advocates.
Jonathan Govette
CEO of Oatmeal Health
Substack:
https://oatmealhealthjonathangovette.substack.com/
