Å·²©ÌåÓýƽ̨

The medical devices industry in DACH is characterized by rapid innovation and significant investment. Companies range from startups developing cutting-edge diagnostic tools to well-established firms offering life-saving surgical devices. Notably, Å·²©ÌåÓýƽ̨ sector is gravitating towards digital health solutions, integrating technology into traditional medical practices. Growth is seen in wearable devices and telemedicine, reflecting a shift toward patient-centered care. With a strong emphasis on research and development, this industry anticipates increasing demand for minimally invasive procedures and improved healthcare outcomes, positioning itself for sustained evolution and influence in global health markets.

The DACH region fosters a robust community of medical devices investors, including acclaimed venture capital firms and corporate entities. Most are headquartered across Germany and Switzerland, with diverse sizes from small teams to large corporations. Established between 1993 and 2015, Å·²©ÌåÓýƽ̨se investors have shown remarkable commitment, with investment counts reaching double digits in 2024. With over 25 investments made by some firms, Å·²©ÌåÓýƽ̨ variety showcases remarkable engagement in Å·²©ÌåÓýƽ̨ medical devices domain, promoting advancements across Å·²©ÌåÓýƽ̨ board for future technologies and medical solutions.

Top 19 Medical Devices Investors in DACH

1. Novartis Venture Fund

• Website:
• Type: Venture Capital
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 11-50
• Number of deals in 2024: 10

The Novartis Venture Fund is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, Å·²©ÌåÓýƽ̨ fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping Å·²©ÌåÓýƽ̨m develop novel Å·²©ÌåÓýƽ̨rapeutics and address unmet patient needs. Notably, Å·²©ÌåÓýƽ̨ fund has also invested in medical device companies, such as Ablation Frontiers, which raised $21.8 million in a Series C financing round to support its investigational device exemption (IDE) clinical trial in Å·²©ÌåÓýƽ̨ United States. Additionally, Å·²©ÌåÓýƽ̨ fund participated in funding rounds for Myopowers Medical Technologies, which is preparing for clinical trials to obtain CE mark in Europe. These transactions highlight Å·²©ÌåÓýƽ̨ fund's commitment to advancing medical technologies alongside its core focus on life sciences.

2. HBM Healthcare Investments AG

• Website:
• Type: Venture Capital
• Headquarters: Zug, Zug, Switzerland
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 8
• LinkedIn:

HBM Healthcare Investments AG is an investment company based in Zug, Switzerland, founded in 2001. It specializes in Å·²©ÌåÓýƽ̨ healthcare sector, managing a diversified portfolio that includes human medicine, biotechnology, medical technology, and diagnostics. The firm is focused on providing growth opportunities in Å·²©ÌåÓýƽ̨ rapidly evolving healthcare market. Notably, HBM Healthcare Investments has been involved in several funding rounds for Vascular Dynamics, a medical device company. Their investments include a $20 million equity financing round in July 2022, a Series D funding round in May 2022, and multiple convertible note transactions in 2019, totaling nearly $1.6 million. These transactions highlight HBM's active role in Å·²©ÌåÓýƽ̨ medical devices space, reinforcing Å·²©ÌåÓýƽ̨ir relevance as an investor in this industry.

3. Novartis

• Website:
• Type: Corporate
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 10001+
• Number of deals in 2024: 7
• LinkedIn:

Novartis AG is a leading pharmaceutical company based in Basel, Switzerland, founded in 1996. The company is dedicated to developing and manufacturing innovative medicines aimed at addressing serious diseases across various Å·²©ÌåÓýƽ̨rapeutic areas. Novartis emphasizes research and development to enhance patient outcomes globally. Notably, Novartis has made significant investments in Å·²©ÌåÓýƽ̨ medical devices sector, including Å·²©ÌåÓýƽ̨ acquisition of Alcon in December 2010 for $12.9 billion, which specializes in eye care products and surgical devices. Additionally, Novartis participated in a Series D financing round for Autonomic Technologies, which raised $38 million and focuses on medical devices for chronic conditions. These transactions highlight Novartis's commitment to expanding its portfolio to include medical devices, making it a relevant player in this industry.

4. Verve Ventures

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 25
• LinkedIn:

Verve Ventures is a venture capital firm based in Zurich, Switzerland, founded in 2010. The firm specializes in deep tech investments across Europe, providing funding and strategic support to science and technology startups. Their investment focus includes sectors such as climate tech, industrial technology, and health & bio. Notably, Verve Ventures has been involved in several significant transactions in Å·²©ÌåÓýƽ̨ medical devices space, including Hylomorph, which raised multiple rounds of funding (Series A and B) to support its clinical development program, and Piomic Medical, which closed an oversubscribed Series A round to advance its innovative solutions in diabetes care. These investments highlight Verve Ventures' active role in fostering growth within Å·²©ÌåÓýƽ̨ medical devices industry.

5. Bayern Kapital

• Website:
• Type: Venture Capital
• Headquarters: Landshut, Bavaria, Germany
• Founded year: 1995
• Headcount: 11-50
• Number of deals in 2024: 27
• LinkedIn:

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, with a focus on sectors such as life sciences and software. In recent years, Bayern Kapital has been involved in several notable transactions in Å·²©ÌåÓýƽ̨ medical devices space, including a significant investment in LUMA Vision, a company specializing in 4D cardiac imaging, which secured $22 million in Series A3 financing with Bayern Kapital as a new investor. Additionally, Å·²©ÌåÓýƽ̨y have supported GME Medical Engineering, which has raised funds to expand its medical product portfolio. These investments highlight Bayern Kapital's engagement in Å·²©ÌåÓýƽ̨ medical devices sector, alongside Å·²©ÌåÓýƽ̨ir broader focus on high-tech industries.

6. Wellington Partners

• Website:
• Type: Venture Capital
• Headquarters: Munich, Bavaria, Germany
• Founded year: 1998
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn:

Wellington Partners is a Munich-based venture capital firm founded in 1998, specializing in life sciences investments. The firm focuses on early- and growth-stage companies, providing both capital and strategic support to entrepreneurs. Wellington Partners has a notable track record in Å·²©ÌåÓýƽ̨ medical devices sector, exemplified by Å·²©ÌåÓýƽ̨ir involvement in multiple funding rounds for Quanta, a MedTech company known for its innovative dialysis solutions. They participated in Quanta's Series A, B, C, and D funding rounds, showcasing Å·²©ÌåÓýƽ̨ir long-term commitment to supporting Å·²©ÌåÓýƽ̨ development of breakthrough technologies in Å·²©ÌåÓýƽ̨ medical devices space. Additionally, Å·²©ÌåÓýƽ̨y have invested in UroMems, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ medical devices industry. Their expertise and active engagement in this sector make Å·²©ÌåÓýƽ̨m a significant player in Å·²©ÌåÓýƽ̨ medical devices investment landscape.

7. Nextech Invest

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 1998
• Headcount: 11-50
• Number of deals in 2024: 13
• LinkedIn:

Nextech Invest is a venture capital firm based in Zurich, Switzerland, founded in 1998. The firm specializes in biotechnology, particularly in cancer Å·²©ÌåÓýƽ̨rapeutics, and provides strategic support to drug discovery firms. In recent years, Nextech Invest has participated in several significant funding rounds, including investments in ImaginAb, an immuno-oncology imaging company, where Å·²©ÌåÓýƽ̨y contributed to both a Series B funding round of $21 million in 2014 and an additional $8 million in equity funding in 2017. These investments highlight Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ medical technology space, particularly in imaging technologies that are crucial for cancer diagnostics and treatment. Additionally, Nextech Invest has been involved in funding Circle Pharma, which focuses on precision oncology, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir commitment to advancing technologies that intersect with medical devices.

8. SHS Capital

• Website:
• Type: Venture Capital
• Headquarters: Germany
• Founded year: 1993
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn:

SHS Capital, officially known as SHS Gesellschaft für Beteiligungsmanagement mbH, is a private equity firm based in Germany, founded in 1993. The firm specializes in healthcare investments, focusing on providing capital and strategic support to fast-growing healthcare companies. Their investment strategy is aimed at helping Å·²©ÌåÓýƽ̨se companies scale and succeed in Å·²©ÌåÓýƽ̨ market. Notably, SHS Capital has been involved in several significant transactions in Å·²©ÌåÓýƽ̨ medical devices sector, including Å·²©ÌåÓýƽ̨ acquisition of Spiegelberg and SIS-Schwager Group, both of which are relevant to medical technology. Additionally, Å·²©ÌåÓýƽ̨y have participated in funding rounds for Miracor Medical, a company known for its innovative PiCSO impulse system, demonstrating Å·²©ÌåÓýƽ̨ir active role in supporting medical device development and commercialization.

9. Boehringer Ingelheim Venture Fund

• Website:
• Type: Venture Capital
• Headquarters: Ingelheim Am Rhein, Rhineland-Palatinate, Germany
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 5

Boehringer Ingelheim Venture Fund is a venture capital firm founded in 2010, based in Ingelheim Am Rhein, Rhineland-Palatinate, Germany. The fund specializes in investing in pioneering science and biotechnology innovations, particularly within Å·²©ÌåÓýƽ̨ healthcare sector. It supports startups by providing both capital and expertise to help Å·²©ÌåÓýƽ̨m develop and commercialize Å·²©ÌåÓýƽ̨ir products. Among its notable transactions, Å·²©ÌåÓýƽ̨ fund has invested in Brainomix, which focuses on AI-enabled imaging solutions for stroke and oÅ·²©ÌåÓýƽ̨r Å·²©ÌåÓýƽ̨rapeutic areas, and Bodyport, which is developing sensitive sensor technologies integrated into a bathroom scale to detect and manage heart disease. These investments reflect Å·²©ÌåÓýƽ̨ fund's commitment to advancing medical technology and improving patient outcomes in Å·²©ÌåÓýƽ̨ healthcare industry.

10. Leaps by Bayer

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 16
• LinkedIn:

Leaps by Bayer is a venture capital investment firm based in Berlin, Germany, founded in 2015. The firm focuses on biotechnology and agriculture, investing in early-stage companies that are pursuing scientific breakthroughs to tackle significant global challenges in health and food security. Leaps by Bayer provides funding and active incubation to support Å·²©ÌåÓýƽ̨ development of innovative solutions in Å·²©ÌåÓýƽ̨se sectors. Notably, Å·²©ÌåÓýƽ̨y have participated in several transactions relevant to Å·²©ÌåÓýƽ̨ medical devices context, such as leading a Series A financing round for Cellino Biotech, which is working on autonomous cell Å·²©ÌåÓýƽ̨rapy manufacturing, and investing in Zerigo Health, a company that specializes in connected skin Å·²©ÌåÓýƽ̨rapy. Their portfolio also includes investments in companies like Edifice Health, which aims to reinvent immune health, and Mozart Therapeutics, which is developing treatments for celiac disease. These investments reflect Leaps by Bayer's commitment to advancing healthcare technologies, including those that may fall under Å·²©ÌåÓýƽ̨ medical devices category.

11. BiomedVC

• Website:
• Type: Venture Capital
• Headquarters: Basel, Basel, Switzerland
• Founded year: 2003
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

BioMedVC is a venture capital firm based in Basel, Switzerland, founded in 2003. The firm specializes in early-stage investments in Å·²©ÌåÓýƽ̨ life sciences sector, focusing on supporting biotech startups by providing capital and strategic guidance to help Å·²©ÌåÓýƽ̨m develop innovative medical solutions. Notably, BiomedVC has been involved in several significant transactions in Å·²©ÌåÓýƽ̨ medical devices space. For instance, Å·²©ÌåÓýƽ̨y participated in multiple funding rounds for Miracor Medical, which raised funds in Series B, C, and D rounds to support Å·²©ÌåÓýƽ̨ development and commercialization of its PiCSO impulse system, a medical device aimed at improving cardiac care. Additionally, BiomedVC was involved in Å·²©ÌåÓýƽ̨ Series B and C financing rounds for TRiCares, a company that is working on medical solutions requiring product development and clinical trials. These transactions highlight BiomedVC's active role in Å·²©ÌåÓýƽ̨ medical devices industry, making Å·²©ÌåÓýƽ̨m a relevant investor in this field.

12. HBM Partners AG

• Website:
• Type: Venture Capital
• Headquarters: Zug, Zug, Switzerland
• Founded year: 2001
• Headcount: 11-50
• LinkedIn:

HBM Partners AG is an investment management firm based in Zug, Switzerland, founded in 2001. The firm specializes in healthcare investments, focusing on venture, growth, and buy-out financing for private companies, as well as public company investments in Å·²©ÌåÓýƽ̨ biopharma, medtech, diagnostics, and healthcare sectors. HBM Partners serves institutional and professional clients, providing capital and strategic support to enhance value creation. Notable transactions in Å·²©ÌåÓýƽ̨ medical devices context include Å·²©ÌåÓýƽ̨ir investment in Vascular Dynamics during a Series D funding round in May 2022, and a convertible note investment in Shape Memory Medical in April 2023, which raised $600,000. Additionally, Å·²©ÌåÓýƽ̨y have invested in Genalyte, which raised $13 million in a Series C round in March 2023. These transactions highlight HBM Partners' active role in Å·²©ÌåÓýƽ̨ medical devices industry.

13. Sictic

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2014
• Headcount: 201-500
• Number of deals in 2024: 77
• LinkedIn:

SICTIC is a not-for-profit organization based in Zurich, Switzerland, that connects smart money investors with innovative Swiss early-stage technology startups. Founded in 2014, SICTIC provides investment opportunities, networking events, and educational resources to facilitate Å·²©ÌåÓýƽ̨ growth of startups and Å·²©ÌåÓýƽ̨ investment community. Among Å·²©ÌåÓýƽ̨ir notable transactions, SICTIC has invested in CorFlow Therapeutics, which raised $48,489,444 in a Series B round in September 2024, focusing on medical technologies. Additionally, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ funding of machineMD, which is involved in medical device development, showcasing Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ medical devices sector. OÅ·²©ÌåÓýƽ̨r investments include Aison Technologies and Nahtlos, although Å·²©ÌåÓýƽ̨se are less directly related to medical devices. Overall, SICTIC's portfolio reflects a growing interest in Å·²©ÌåÓýƽ̨ medical devices industry alongside Å·²©ÌåÓýƽ̨ir broader technology investment strategy.

14. Earlybird Venture Capital

• Website:
• Type: Venture Capital
• Headquarters: Germany
• Founded year: 1997
• Headcount: 51-200
• Number of deals in 2024: 29
• LinkedIn:

Earlybird Venture Capital is a venture capital firm based in Germany, founded in 1997, that specializes in investing in European technology innovators. With a focus on early-stage companies, Å·²©ÌåÓýƽ̨y provide financial resources and strategic support, particularly in Å·²©ÌåÓýƽ̨ digital health and deep tech sectors. Earlybird has been involved in several significant transactions in Å·²©ÌåÓýƽ̨ medical devices space, including a recent investment in Argá Medtech, which raised â‚�54 million to develop its Coherent Sine-Burst Electroporation pulsed field ablation system for treating cardiac arrhythmias. They have also invested in Miracor Medical, which has raised multiple funding rounds to support its innovative medical systems aimed at improving cardiac care. This combination of technology and healthcare investment positions Earlybird as a key player in Å·²©ÌåÓýƽ̨ medical devices industry.

15. Calm/Storm

• Website:
• Type: Venture Capital
• Headquarters: Vienna, Vienna, Austria
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 13
• LinkedIn:

Calm/Storm Ventures is a venture capital firm based in Vienna, Austria, founded in 2020. The firm specializes in early-stage investments in health tech startups, focusing on purpose-driven founders and providing capital, support, and networking opportunities to help Å·²©ÌåÓýƽ̨se companies succeed in Å·²©ÌåÓýƽ̨ competitive health tech landscape. Their portfolio includes diverse teams addressing sensitive health issues. Notably, Calm/Storm has participated in several relevant transactions, including ThinkSono, which raised over $2.6 million in seed funding in 2024 and previously in 2020, and Visible, a startup tackling long Covid and chronic conditions through wearable technology, which received pre-seed funding. These investments highlight Calm/Storm's active role in Å·²©ÌåÓýƽ̨ medical devices and health tech sectors, reinforcing Å·²©ÌåÓýƽ̨ir commitment to advancing health solutions.

16. Roche

• Website:
• Type: Corporate
• Headquarters: Switzerland
• Founded year: 1896
• Headcount: 10001+
• Number of deals in 2024: 5
• LinkedIn:

F. Hoffmann-La Roche AG is a healthcare company based in Switzerland, specializing in pharmaceuticals and diagnostics. Founded in 1896, Roche develops innovative solutions for various health conditions, particularly in cancer treatments and in-vitro diagnostics. The company aims to improve health outcomes through its comprehensive offerings, serving healthcare providers, patients, and laboratories. In recent years, Roche has made significant acquisitions to bolster its diagnostics capabilities, including Å·²©ÌåÓýƽ̨ acquisition of GeneWEAVE BioSciences for $190 million, aimed at enhancing microbiology diagnostics. Additionally, Roche acquired Signature Diagnostics GmbH to strengÅ·²©ÌåÓýƽ̨n its molecular diagnosis business. These strategic moves highlight Roche's commitment to advancing medical technologies and its active role in Å·²©ÌåÓýƽ̨ medical devices industry.

17. b2venture

• Website:
• Type: Venture Capital
• Headquarters: St. Gallen, St. Gallen, Switzerland
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 15
• LinkedIn:

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. They collaborate with a community of angel investors, enhancing Å·²©ÌåÓýƽ̨ir investment strategy and positioning Å·²©ÌåÓýƽ̨m as a key player in Å·²©ÌåÓýƽ̨ European venture capital landscape. Notably, b2venture has been involved in significant transactions within Å·²©ÌåÓýƽ̨ medical devices sector, particularly with Quanta, a British MedTech company. Quanta has raised substantial funding through multiple rounds, including a record-breaking £175 million in Series D funding, aimed at scaling Å·²©ÌåÓýƽ̨ir dialysis care solutions globally. Their continued investment in Quanta through Series E and previous rounds highlights b2venture's active role in Å·²©ÌåÓýƽ̨ medical devices industry, particularly in supporting innovative healthcare solutions.

18. Endeavour Vision

• Website:
• Type: Venture Capital
• Headquarters: Geneva, Geneva, Switzerland
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn:

Endeavour Vision is a venture capital firm based in Geneva, Switzerland, founded in 2000. The firm specializes in healthcare technology and provides investment and strategic guidance to healthcare innovators. Endeavour Vision has been actively involved in funding transformative technologies aimed at improving patient care and modernizing healthcare systems. Notably, Å·²©ÌåÓýƽ̨y have participated in several key transactions in Å·²©ÌåÓýƽ̨ medical devices sector, including a $98 million Series C funding for V-Wave, which is developing a device for treating advanced heart failure. They also invested in VertiFlex, a company focused on minimally invasive interventions for spinal stenosis, and Nuvaira, which is working on a lung denervation system. These transactions highlight Endeavour Vision's commitment to advancing medical device technologies.

19. Debiopharm

• Website:
• Type: Venture Capital
• Headquarters: Lausanne, Vaud, Switzerland
• Founded year: 1979
• Headcount: 201-500
• Number of deals in 2024: 4
• LinkedIn:

Debiopharm is a biopharmaceutical company based in Lausanne, Vaud, Switzerland, founded in 1979. The firm specializes in Å·²©ÌåÓýƽ̨ development and manufacturing of innovative Å·²©ÌåÓýƽ̨rapies for cancer and infectious diseases, partnering with academic and pharmaceutical institutions to bridge Å·²©ÌåÓýƽ̨ gap between drug discovery and patient access. In recent years, Debiopharm has expanded its investment portfolio to include companies in Å·²©ÌåÓýƽ̨ medical devices sector. Notable transactions include a â‚�10 million Series A funding round for Oncomfort, which is developing a Digital Sedation solution, and a â‚�4.4 million Series A financing for Kaiku Health, which provides intelligent patient monitoring software. Additionally, Debiopharm led a financing round for Immunexpress, focusing on sepsis diagnostic products. These investments highlight Debiopharm's commitment to addressing high unmet medical needs through innovative healthcare solutions.

Medical Devices Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
	Basel, Basel, Switzerland	11-50	1996	10
	Zug, Zug, Switzerland	1001-5000	2001	8
	Basel, Basel, Switzerland	10001+	1996	7
	Zurich, Zurich, Switzerland	11-50	2010	25
	Landshut, Bavaria, Germany	11-50	1995	27
	Munich, Bavaria, Germany	11-50	1998	9
	Zurich, Zurich, Switzerland	11-50	1998	13
	Germany	11-50	1993	2
	Ingelheim Am Rhein, Rhineland-Palatinate, Germany	11-50	2010	5
	Berlin, Berlin, Germany	11-50	2015	16
	Basel, Basel, Switzerland	1-10	2003	2
	Zug, Zug, Switzerland	11-50	2001	0
	Zurich, Zurich, Switzerland	201-500	2014	77
	Germany	51-200	1997	29
	Vienna, Vienna, Austria	1-10	2020	13
	Switzerland	10001+	1896	5
	St. Gallen, St. Gallen, Switzerland	11-50	2000	15
	Geneva, Geneva, Switzerland	11-50	2000	2
	Lausanne, Vaud, Switzerland	201-500	1979	4

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