Details

  • Industry: Healthcare, Telemedicine
  • Location: Cluj-Napoca, Romania
  • Website: www.telios.ro

Why we invested in Telios

 A healthcare system in crisis 

Imagine this: You’re feeling under the weather, and all you want is to see a doctor. But wait times are long, even in private clinics. And if you’re in certain parts of Romania, finding a physician nearby? Good luck with that. Add to this the rising out-of-pocket medical costs (a whopping 20% increase!), and you’ve got a whole healthcare system nightmare. 

It’s not just a system problem, it’s also a problem of mindset. These barriers encourage people to avoid doctor visits at all, hoping for their medical problems to simply go away. When they eventually go to the doctor, it might be too late. Or even if it isn’t, the medical history is not updated, is not centralized and it leads to inadequate information for the doctors.  

Romania’s healthcare system is, to put it mildly, in need of a revamp. With only 5% of the GDP invested in healthcare and a focus primarily on emergency care and medication, there’s a massive untapped market for private healthcare entrepreneurs. 

Enter Telios Care

Telios Care isn’t just another app; it’s a lifeline. It offers employees and insured individuals 24/7 access to specialist medical and wellness advice across a plethora of specialties. And guess what? They’ve also rolled out electronic prescriptions, making the process even smoother for patients. 

Telemedicine has the potential to restructure the entire medical system and to solve many of the problems listed above. It also reduces costs and improves the quality of care, with minimum technology that even the elderly can easily use.  

The market

The numbers don’t lie. There’s a massive untapped market for private healthcare and telehealth providers in Romania. With Europe’s telemedicine demand projected to hit $369.7 billion by 2027 and 74% of patients globally preferring easy healthcare access over in-person visits, the potential is undeniable. 

But here’s the kicker: Romania invests a mere 5% of its GDP in healthcare, with a significant chunk of that going to hospitals, salaries, and pharmaceuticals. Prevention? Just 1.7%. This leaves a vast space for private entrepreneurs to step in and make a difference. 

Why now? 

The timing couldn’t be better. With a scarcity of doctors for the general populace and the hustle and bustle of modern life leaving little time for health, innovative medical services are the need of the hour. And while public healthcare lags, private healthcare is booming, with over 15,000 private clinics and a turnover exceeding 11 billion lei. 

Moreover, the global telemedicine demand has skyrocketed post-Covid, and even WHO is collaborating with Romania to make telehealth more mainstream.  

 The team

Behind every great startup is an even greater team. Telios Care boasts a squad with over 25 years of experience in the US medical field. With 8 specialists leading the charge, supported by department leaders and a board of advisors, they’ve seen a 400% team growth since 2017. And their commitment? It’s not just for business. They’re philanthropists at heart, offering services to Romania’s blind community and wounded veterans. 

Achievements worth noting 

Telios Care isn’t just about promises; they deliver. They’ve partnered with giants like Asirom, Allianz Tiriac, and VISA. Their patient satisfaction? A staggering 97%. And with a 738% customer increase and 1,485% revenue growth, they’re on a trajectory that’s hard to ignore.
 

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