As part of the long-term strategy to become an innovation platform, aimed at supporting innovation in key domains, Spherik marks its first step towards its mission by investing in Telios, alongside Transylvania Angels Network, Growceanu, TechAngels Romania, and 2 foreign investors, an investment fund from the Netherlands and a private investor from Belgium.

The $200,000 raised by Telios in this new seed investment will be used for expanding awareness of telemedicine in Romania, strengthening market position, increasing the medical staff, and enhancing the abilities of the platform.

”We are serving both corporate managers who have to work from home, and truck drivers or warehouse workers who need health advice while they are on the road or in difficult, hard to reach locations. We have by far the largest socio-economic footprint in Romanian telemedicine, which puts us in a very good position to have a strong contribution to healthcare during COVID-19 crisis. More companies and insurers, such as Asirom at the end of March, opt for Telios Care as their main healthcare and telemedicine provider, states Philip Choban, Telios’ CEO and Co-founder.

Telios services are covering a large and very diverse number of patients, from white-collar managers to blue-collar workers, who all need protection from COVID-19 and healthcare services delivered remotely in order to keep the economy going during the current crisis.  The funding received will be used for expanding awareness of telemedicine in Romania, strengthening the market position, increasing the medical staff, and enhancing the abilities of the platform.

“We’re excited to be involved in supporting Telios as it aligns with our long-term strategy to become an innovation platform. Spherik’s mission is to support innovation in key domains, while investing in startups, making growth resources available for them, and helping them connect to the relevant stakeholders. It’s an honor to have our first investment made towards such a promising player on the international eHealth market as Telios.”, said Paul Brie, President, Spherik.

By using Telios, private companies and insurers can provide employees and insured patients, together with their families, 24/7 access to leading-edge telemedicine services provided by a dedicated team of doctors and nurses. Instead of waiting for days for a traditional doctor’s visit, patients can now jump into a doctor’s visit by phone or online with the most suitable specialist for their healthcare needs within minutes without being exposed to contact with other patients.

Telemedicine holds the answer to many of the long-term problems in the Romanian healthcare system. A survey released at the beginning of 2020, covering 10,000 people in 8 cities in Romania, showed that an astounding 85% of people who need medical assistance will usually postpone their doctor visit or cancel it altogether. This exposes millions of Romanians to substantial health risks, missed workdays, and a lower quality of life. It also directly affects companies’ productivity and bottom-line, because so many people miss work for reasons that can be avoided with an early doctor visit.

About Telios

Telios launched in August of 2018, after two years of developing the platform. In a very short time, their service attracted some of the biggest insurance companies as strategic partners, gained big corporate customers, and significantly increased their call volume. Telios is currently developing an AI-powered app for self-diagnosis which they plan to launch soon. Telios is looking to expand its services to more countries in Eastern Europe, all the while keeping up with its commitments to make telemedicine available to more people in disadvantaged communities.

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