Hystrix medical completes CHF 3 million Series A financing round


More than 120 hospitals are using the hystrix marketplace for repeatedly purchased medical goods. The new capital will be used to add functionalities and expand the user base. Among the investors are Hirslanden Venture Capital AG, a subsidiary of Mediclinic International plc and the Steyn Group, a global investor with a legacy in online marketplaces.


Since its inception in 2017, hystrix has consistently pursued its vision to make the procurement and distribution of medical products simpler, faster and more cost-effective by creating a digital marketplace that intends to function not only as a platform for medical goods trading, but also as a real-time information hub for large sections of the healthcare industry.

More than 170 Swiss healthcare providers are already using the hystrix marketplace to conclude contracts for repeatedly purchased medical goods with great ease. These users include more than 120 hospitals, which have recently become acquainted with and come to appreciate the ability to procure materials without personal visits from suppliers and time-consuming paperwork. In addition to the procurement or distribution of medical goods, the hystrix marketplace also enables other applications such as real-time price comparisons; information on the availability of supply sources locally and abroad;and daily updated overview of supply and demand for a range of healthcare goods.

International investors

Mediclinic, the diversified international private healthcare services group listed on the London Stock Exchange (“LSE"), intends to leverage its global experience in procurement and its focus on lean and centralised processes to support hystrix in further developing its procurement services and digital marketplace. 

Steyn specialises in private investments in innovative business models and has vast experience in global marketplaces.With its involvement in numerous international and emerging companies,Steyn will contribute extensive experience in digital sales strategies and offers an infrastructure to seed, support and scale the operating business.

Further development of functionalities and internationalisation

The recently concluded Series A financing round takes the total raised by hystrix to CHF5.56million, including the two preceding financing rounds in 2018 and 2019. The new capital will be used to further develop strategic marketplace functionalities; support ongoing ERP integration projects; expand the user base and the corresponding product portfolios; and further internationalise the business model developed in Switzerland. The company received a grant, as part of the European Union "Horizon 2020" programme, to conduct a European feasibility study of the digital marketplace.

New members of the hystrix board of directors

At the EGM on 15 July 2020 in Zurich, Marko Bekker, Group Executive in Corporate Finance at Mediclinic, and Jason C. Foster, Managing Director of Health Equity Consulting Ltd, who invested alongside Mediclinic and the Steyn Group, were elected to the Board. Together, their experience in healthcare, medical technology, consulting and corporate finance spans more than 30 years. In addition to the two new Board members, Stephan "Essi" Fischer, representing the StartAngels Network (“SAN"), was elected as the new Chair of the Board. SAN led the pre-Series A financing round in 2019. Other Board members are Stephan Wehrli, who led the 2018 seed financing round for Zühlke Ventures AG, and Philippe Hügli, CEO and founder of hystrix medical AG.

(Press release / SK)