Latvia's Medon digital clinic eyes expansion in India and UAE

Medon, a digital clinic founded in Latvia, said May 29 has secured investments of EUR 320 000 from several Latvian entrepreneurs, describing the move as "a significant step towards strategic expansion into new markets. This investment will help Medon achieve its vision of making healthcare accessible both in Latvia and globally."

According to Medon's founders, digital solutions are adaptable to the needs of different markets, which makes the service exportable. The particular investment is intended to develop the clinic's product first in India, followed by the United Arab Emirates and Saudi Arabia.

"These markets are seeing rapid growth in digital healthcare, which is in line with our ambitions. India, the United Arab Emirates and Saudi Arabia stand out for their dynamic economic development, high levels of technology adoption and rapidly growing healthcare sectors. For example, India's digital health market is forecast to grow to around EUR 9.74 billion as early as 2027, growing by more than 21% annually. These markets also offer unique opportunities for expansion given their populations and healthcare challenges," said Roberts Lasovskis, CEO and co-founder of Medon.

"Cardiovascular disease remains the leading cause of death globally and our target markets are seeing an alarming increase in these diseases. For example, cardiovascular diseases cause nearly a quarter of deaths in India, 45% in Saudi Arabia and 40% in the United Arab Emirates. Our approach is to mitigate this trend by leveraging European medical expertise and making innovative and patient-centred healthcare more accessible," said Mārtiņš Ērglis, a cardiac surgeon and co-founder of Medon.

According to its own figures, Medon's clinic already represents 27 medical specialties and has 128 medical experts registered, while the number of patients already exceeds 4,000. The clinic is included in the Health Inspectorate's Register of Medical Institutions and offers remote medical consultations with a special focus on cardiovascular health.


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