Care Labs
Prepaid and digital payment platform for healthcare.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
€5.2m | Series A | ||
| Total Funding | 000k | ||
| EUR | 2015 | 2016 | 2017 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | - | (182 %) |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| % profit margin | - | (1154 %) | 3900 % |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Company filings or news article
Care Labs was a French startup that developed and managed payment platforms and services for the healthcare sector, targeting insurance companies, corporations, and local authorities. The company was founded in Montpellier in 2014 by Vincent Daffourd and Christophe Trioleyre. Daffourd's inspiration for the company came from his personal experience with a serious lung illness, during which he identified gaps in the healthcare payment system.
The company's flagship product was Chèque Santé®, the first prepaid payment method dedicated to financing health prevention products and services not typically covered by French Social Security, such as osteopathy and nutrition consultations. This service functioned as a dematerialized personal health account. The business model was based on employers or public entities funding these health vouchers for their employees or beneficiaries to cover healthcare costs, particularly for services with high co-pays or those offered by non-affiliated specialists. Care Labs also developed a suite of e-health services that included online appointment booking and a digital health record. By 2016, the company had built a network of over 26,000 affiliated health practitioners.
Care Labs raised a total of $10 million over three funding rounds, including a Seed round in 2015 and a Series B round of $5.61 million in February 2017 with investors like IRDI Soridec Gestion, IXO, and Sofimac Investment Managers. Despite its promising start, the company faced regulatory hurdles. A 2015 ruling from ACOSS (the central agency for social security organizations) determined that Chèque Santé was not eligible for social security charge reductions for companies, which impacted its value proposition. Vincent Daffourd left the company in early 2018, and despite a change in leadership, Care Labs was placed into liquidation in March 2019.
Keywords: healthcare payment platform, prepaid health vouchers, employee health benefits, digital health services, health financing, e-health, insuretech, medical bill payment, third-party payment, health and wellness benefits