The round
Tandem Health, a Stockholm company that makes an AI assistant for clinicians, has raised $100m in a Series B led by the Scaleup Europe Fund, Tech.eu reported on 14 September. It is the fund’s first healthcare investment. Existing investors Kinnevik, Northzone, Amino Collective and Visionaries also took part.
The round follows a $50m Series A in 2025 and brings Tandem’s total funding to $160m. The valuation was not disclosed.
Who is behind the fund
The Scaleup Europe Fund is a €5bn vehicle managed by the Swedish investment firm EQT, with the European Commission, Novo Holdings, CriteriaCaixa and Santander among its founding investors, according to Tech.eu. Its first healthcare deal going to a Swedish clinical AI company gives Tandem an unusually public form of backing.
What the product does
Tandem began as an AI scribe that writes medical notes while a clinician talks with a patient. It has since grown into a broader assistant that prepares patient summaries before appointments, supports clinical decisions during them, and afterwards takes on documentation, coding and task management, Unite.AI reported. The company says it integrates with more than 130 medical record systems.
Tandem says the product is used by more than 10,000 care organisations in 14 European markets, with the UK the largest by number of users. Named customers include Ramsay Santé, Humanitas and the NHS. The company has about 170 employees.
It also points to peer-reviewed research reporting a 29% cut in administrative time and a 30% improvement in job satisfaction among clinicians using it. Those figures come from Tandem’s own account of the research.
The plan
The money is meant to turn the assistant into what Tandem calls an AI-native clinic operating system, adding patient flow, triage, scheduling and patient communications.
“Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s,” said Lukas Saari, Tandem’s co-founder and chief executive. He argues that European care providers have had to choose between legacy systems and AI products built for other markets and adapted afterwards.
A crowded field
Clinical documentation is one of the most crowded areas of applied AI. Tandem’s argument, in Saari’s framing, is that European languages, rules and record systems favour a company built for them rather than one adapted from elsewhere.
What to watch
Whether the move from documentation into triage brings Tandem under stricter EU medical device rules, since software that informs clinical decisions can require certification, and whether the Scaleup Europe Fund follows with more healthcare deals.
