Valuation isn’t everything but in healthtech, it tells you who’s still scaling
Let’s not pretend valuation is the ultimate success metric. But it is a decent proxy for where capital, confidence and commercial traction are flowing. Especially in a market as fragmented and overregulated as European healthcare.
The 2025 leaderboard of Europe’s top 10 most valuable healthtech companies.
Not biotech. Not pharma. Just tech-enabled health. Companies at the intersection of software, care and medical delivery models. Most are private. A few are flying under the radar. And yes, Finland opens the list.
1. Oura Health (Finland)
Valuation: US$11 billion (Sep 2025)
What it does: Smart wearable ring + health analytics
Why it matters:
Europe’s wearables play moving into serious health data.
2. Doctolib (France)
Valuation: US$6.4 billion (2025 ranking)
What it does: Appointment booking and telehealth platform for European health systems.
Why it matters: A dominant platform reaching scale across French & German markets, signalling what digital
health infrastructure looks like in the EU.
3. Sword Health (Portugal)
Valuation: US$4 billion (June 2025 funding round)
What it does: AI-enabled digital therapy / musculoskeletal care
Why it matters: Bridges digital therapeutics and service delivery with high value healthcare cost savings.
4. Kry International AB (Sweden)
Valuation: Reported ~US$2 billion
What it does: Telemedicine/virtual primary care (marketed as “Livi” in UK/France)
Why it matters: One of the larger pan-European virtual care plays.
6. Flo Health (UK)
Valuation: ~US$1 billion
What it does: Women’s health (cycle tracking, fertility, health analytics)
Why it matters: Rare consumer digital health “scale” platform in Europe with global ambitions.
7. Neko Health (Sweden)
Valuation: ~US$1.8 billion
What it does: Full body scanning diagnostics with AI
Why it matters: Diagnostics and proactive screening is one of the less hyped but high upside segments in EU healthtech.
8. Cequr SA (Switzerland)
Valuation: ~US$600 million (estimate)
What it does: Wearable insulin delivery device + patient engagement
Why it matters: Device + digital combo in chronic disease management
9. Hilo Health (Switzerland/Spain)
Valuation: ~US$300 million (estimate)
What it does: Continuous blood pressure monitoring without cuffs
Why it matters: Remote monitoring is crowded, but clinically meaningful, reimbursable models still rare.
10. Nobi BV (Belgium)
Valuation: ~US$150 million (estimate)
What it does: Smart ambient care sensors for elderly living at home
Why it matters:
A realworld aging play; modest valuation, but high relevance for Europe’s demographic shift.
What this list tells us?
Valuation follows integration. The highest valued companies are those who figured out how to embed into care delivery systems, not just launch a product or service.
It’s not just software. Many of the names here incorporate hardware or device components, but the business model leads with experience, outcomes, and scale.
Europe has range. From Portugal to Sweden to France, the value creation is not limited to London/Berlin (though they still matter).
But caution remains. Private valuations are fluid. Some said “decacorn” for Oura a year ago; latest official validated valuation is half of it at around ~$5.2bn the jump to ~$11bn comes from news speculation.
One Last Note
This list isn’t final, and it will change, maybe an hour after the publication. Private valuations shift. Some firms may consolidate or pivot. But if you’re looking to invest, compete or expand — these are the healthtech
companies dominating European healthtech headlines for now.
Next up: where the money’s coming from — and who’s still writing the big cheques.
This content has been enhanced with GenAI.
