Chronic care built for scale, continuity, and real-world outcomes
Unpacking our investment in Oviva
Kinnevik led Oviva's USD 220m Series D round with a USD 100m investment, becoming the company’s largest shareholder. In this article, we outline the thesis underpinning our strong conviction in the company.
Europe’s health systems lack support to address chronic conditions at scale
Across Europe, over 200 million people live with chronic conditions such as obesity, hypertension, and type 2 diabetes. They live with the uncomfortable reality that many of these conditions are manageable with the right care. But the right care isn’t evenly and equitably accessible. For chronic patients, living with a well-managed rather than with an uncontrolled condition makes all the difference.
Today, patients referred into specialty programmes out of primary care face excessively long wait times, averaging over 16 months in the UK. Availability varies by region. When care does start, it is typically delivered through infrequent, appointment-based interactions. Meanwhile, patients battle their chronic conditions every day.
Physicians, dietitians, and therapists understand the clinical playbook but they lack the capacity to deliver continuous, personalised support over time. And when care is scarce and sporadic, outcomes become a function of who can wait, who can travel, and who can self-motivate without support.
This gap between clinical knowledge and day-to-day delivery defines one of the most persistent challenges in modern healthcare. We believe AI will make high-quality, personalized care not just accessible but abundant.
Oviva closes the care gap
Oviva was built to close this delivery gap. Its model combines evidence-based therapy with AI-enabled technology to provide continuous, always-on care to the patient and a scalable way to extend clinicians’ reach.
For patients, Oviva provides a free app with intuitive, personalized care on demand. The platform powering this combines clinically validated programmes with access to multidisciplinary care teams via chat and video, alongside a tailored dietary approach, physical activity coaching and habit reinforcement tools. For patients using weight-loss medications, Oviva also supports management of dose titration and side effects.
Oviva’s co-founder duo: Kai Eberhardt (CEO) and Manuel Baumann (CTO)
This continuity of care matters most during the moments that determine long-term outcomes: when progress slows, motivation wanes, or routines break. Through Oviva, support shows up exactly at these inflection points, rather than weeks later at the next scheduled visit. The impact is evident in patient adherence and engagement – Oviva users open the app more frequently than their banking app. Health is wealth.
For clinicians, Oviva extends care beyond the clinic walls. Patients are supported between visits and automated reports give clinicians a unique continuous view of outcomes and adherence. For primary care doctors, multiple chronic condition follow-ups strain capacity needed for acute cases. This is especially pronounced in systems like Germany, where reimbursement rewards scale over visit frequency. By reducing the need for repeated appointments, Oviva allows physicians to focus where they are most needed.
A flywheel effect leading to improved system-level health and economic outcomes
Oviva has achieved a powerful combination in digital health: robust clinical evidence and scalable distribution channels. The company has supported over 1 million patients since inception, tripled patient intake over the past two years, and established a clear leadership position in its core markets.
Oviva’s flywheel starts with outcomes. Best-in-class clinical results (15% weight-loss over 12 months), supported by over 90 peer-reviewed studies, establishes early trust with clinicians. Physicians prescribe, see improved patient outcomes, and realize meaningful time savings. Trust compounds through repeated use. As adoption grows, Oviva scales efficiently without compromising quality, generating larger datasets and clearer real-world proof points, which reinforce the outcomes and restart the flywheel.
Unlocking this flywheel creates system-level impact. Reduced sick leave and lower utilisation of costly acute care deliver immediate economic benefits, while healthier chronic patients materially reduce long-term strain on healthcare systems. Oviva is already demonstrating early evidence of this effect, including a 35% reduction in sick days in the UK within six months of treatment. We believe Oviva has the potential to scale nationally in the UK, deliver population-wide productivity benefits, and materially reduce specialty care costs for the NHS.
This ability to compound evidence, trust, and scale within highly regulated, reimbursement-driven environments is what makes Oviva structurally differentiated.
Why we see Oviva building Europe’s virtual care infrastructure
Over the past decade of investing in healthcare, we have found that enduring companies share three traits: they deliver measurable outcomes, they are well-integrated into existing healthcare infrastructure, and they have a product suite and operating model which scale. Oviva checks all three. It has built a leadership position in reimbursed obesity care, and crucially, the model travels across markets (and manages its trips through Perk, of course).
In the beginning of 2026, Oviva launched its hypertension service in Germany, marking a major milestone in their journey to become Europe’s leading virtual chronic care platform. We see a similar pattern to Livongo’s success in the US as they scaled their virtual care programme from diabetes to other chronic conditions, integrated their suite directly into primary care, and ultimately created the largest digital health company in the world.
Oviva has the opportunity to build something Europe has never had: a virtual chronic care layer that sits inside public healthcare systems and does the hard work at scale. Not a point solution. Not a single-indication winner. Infrastructure. The kind that expands capacity, bends cost curves over time, and improves outcomes for millions of patients.
