Tandem Health Raises $100M Series B to Build AI Clinic Operating System

Tandem Health announced on September 14, 2026, that it has raised $100 million in Series B funding led by the Scaleup Europe Fund, managed by EQT. The Stockholm-based company said it is the first healthcare AI company the fund has backed, and that existing investors Kinnevik, Northzone, Amino Collective and Visionaries also participated in the round.

The Series B follows a $50 million Series A in 2025 and brings Tandem’s total funding to $160 million, according to the company. The Scaleup Europe Fund is a commercially driven alternative investment fund targeting €5 billion, combining public and private capital to invest across deeptech, AI and life sciences. Its manager, EQT, is a global investment organization with a Nordic heritage and reports €341 billion in total assets under management.

Nils Petter Nygaard, Managing Director at EQT and the Scaleup Europe Fund, said Tandem is one of the few healthcare technology companies to demonstrate that it can scale pan-European, adding that EQT believes the company “has the potential to become a foundational AI layer for European healthcare over the coming decades.”

The company frames the raise against strain on European health systems, citing a WHO-estimated shortfall of 1.6 million health and social care workers in 2024, rising to 4 million by 2030. It also cites a projection that the number of Europeans over 65 will rise to around 130 million by 2050, and a Eurostat projection that the workforce supporting them will shrink to fewer than two working-age adults per retiree.

Product, Certifications, and European Footprint

Tandem offers what it describes as a complete AI Medical Assistant that supports clinicians before, during and after a patient visit. It prepares patient summaries ahead of appointments, provides clinical decision support during the consultation, and handles the documentation, coding and task management that follow.

The company states it is the only AI Medical Assistant whose AI Scribe, Coding Assistant and Clinical Decision Support are each independently certified as Class IIa medical devices under the EU Medical Device Regulation, and says it has certified three Class IIa devices in the past six months. It also lists certification under ISO 27001, ISO 13485 and ISO 42001, C5 in Germany, ENS High in Spain and HDS in France.

Since being founded three years ago, Tandem says, it has established offices in 14 European markets and its product has been brought to more than 10,000 care organisations, including Ramsay Santé, Humanitas and the NHS. It lists offices in Germany, France, the UK, Spain, Italy, the Netherlands, Sweden, Finland, Norway, Denmark, Belgium, Portugal, Estonia and Lithuania, and says its product is integrated with more than 130 medical record systems across Europe.

The Study Cited for Clinician Outcomes

The company cites peer-reviewed research it says shows clinicians using Tandem report a 29% reduction in time spent on administrative work, a 30% improvement in job satisfaction and a 30% reduction in administrative stress. The cited study, published on July 10, 2026, in JMIR Medical Informatics, evaluated Tandem’s AI medical scribe across primary, secondary and hospital care at Capio Ramsay Santé, a large integrated healthcare provider operating in Sweden, between April 26, 2024, and October 27, 2025.

The researchers analyzed editing metadata from 236,153 notes generated by 1,295 clinicians, paired with survey responses from 177 fully onboarded clinicians, defined as those who had used the scribe for at least three months, created more than 100 notes, generated at least one document or certificate, and used its conversational editing feature at least once. General practitioners made up 66.5% of the clinician cohort.

In the study’s primary outcome, self-reported documentation time per note was 4.72 minutes with the scribe versus 6.69 minutes without, a 29% decrease (P<.001). The median editing time within the tool was 93 seconds and did not decrease significantly with continued use. On a five-point Likert scale, mean ratings for the ability to work without stress from administrative tasks and for feeling fully present with patients were higher after the scribe’s introduction than before. In yes-or-no survey items, 80.2% of respondents called the scribe an improvement for their profession, 91.0% found it easy to use, 91.5% wished to continue using it, and 84.2% said they would recommend it to colleagues at other clinics.

The paper describes safeguards built into the deployed tool: clinicians cannot transfer an AI-generated note to the medical record without a mandatory review period, audio is streamed in real time without persistent storage, processing occurs on EU-based infrastructure, and monthly audits monitor hallucinations and omissions.

The authors caution that the survey cohort represents sustained, fully onboarded adopters, mainly in general practice, and that the associations may not generalize to clinicians who discontinued use or never fully adopted the scribe. They cite the single-arm observational design and reliance on retrospective self-report as important considerations, and note that 138,196 notes with no recorded edits were excluded because it could not be determined whether they were used as generated, modified later in the record system, or discarded.

The study was initiated as a cooperation between Tandem Health and Capio Ramsay Santé. The paper states that the company had no role in the statistical analysis, interpretation of results or decision to submit, and that all statistical analyses were performed by an academic coinvestigator with no vendor affiliation or compensation. Two authors are Tandem Health employees holding stock options, and co-author Lukas Saari is the company’s co-founder and chief executive.

Where the Funding Will Go

Tandem says the funding will go into two main areas: accelerating its position as an AI partner to European care providers, and growing from an AI Medical Assistant into what it calls an AI-native Clinic Operating System that also handles patient flow management, triaging, scheduling and communications with patients. The company says support is provided locally by a clinician-led team of 100 in-house clinicians, that data stays in Europe under a sovereign architecture, and that it is doubling down across European markets.

CEO and co-founder Lukas Saari said European care providers had until now depended either on legacy solutions or AI systems originally built for other markets and retrofitted for Europe. “Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s,” he said.