Growth financing for Antwerp rehabilitation centre TRAINM
The Flemish investment company PMV is investing in the Antwerp rehabilitation centre TRAINM, which offers a unique data-driven multidisciplinary rehabilitation treatment for children and adults with a neurological or orthopaedic disorder or injury. The centre also offers rehabilitation to ex-patients who spent time in intensive care due to corona. With a corona-loan of 800,000 EUR, PMV is financing the (international) growth of TRAINM, which will also bring its scientifically based treatment methods abroad.
Because Nilofar Niazi and Edward Schiettecatte could not find an existing medical solution for their son with Cerebral Palsy, they decided to establish their own rehabilitation centre in 2016. TRAINM treats children and adults with a neurological or orthopaedic disorder or injury: cerebral palsy, acquired and traumatic brain injuries (ABI/TBI), strokes, multiple sclerosis (MS), Parkinson's disease, spinal cord injury, persistent depression, cognitive problems (ADD and ADHD)... The centre's personalised, intensive treatment programmes combine various scientific disciplines and make use of modern technology such as robotics, virtual reality, neurogaming and artificial intelligence. "We strongly believe in the synergy between technology, human intervention and a stimulating environment to develop data-driven treatment programmes tailored to each patient's specific needs and progress," says Edward Schiettecatte, CEO.
TRAINM has about 15 specialised staff (physiotherapists, neurologists, neuropsychologists and neurolinguists) and distinguishes itself from traditional rehabilitation centres by its extensive scientific basis (with an advisory board consisting of a group of international experts), personalised data-driven treatment programmes and the use of modern technology to achieve maximum functional improvements. In a traditional reimbursed programme, in-house rehabilitation is of short duration, after which maintenance of the rehabilitation usually takes place through sessions with about 50 movements per session. In a TRAINM programme, which is not reimbursed in Belgium, such sessions consist of about 1,000 movements per session. For the development of the TRAINM concept, the founders raised capital from investors such as the Janssen families (Solvay and UCB), De Clerck (Domo), Jurgen Ingels (SmartFin Capital) and private equity companies such as PE Group (Stijn Van Rompay and Stefan Yee), TrustCapital (Christian Dumolin) and Dagda Ventures (Erwin De Keyser and Carl Van Hool). In the meantime, some 120 patients from various countries (the Netherlands, France, the UK, Greece, Singapore, Egypt, Lebanon, etc.) today call on the specialist services of TRAINM, which grew strongly at the beginning of the year.
However, the outbreak of the corona pandemic put a damper on this evolution: as the safety of the patients during intensive treatment cannot be guaranteed, the centre had to close temporarily. In addition, the international trade fairs at which TRAINM announces its rehabilitation concept were cancelled, thus reducing the influx of international patients. With a corona-loan of 800,000 EUR, PMV wants to help ensure the continuity of the centre and lay the foundations for further growth. "In Belgium, there are about 1.1 million people between the ages of 15-65 with a physical disability: for TRAINM's unique scientifically based approach, there is great and lasting potential. Especially with children and adults in the chronic phase, the TRAINM treatment programmes can make a difference", says Roald Borré, co-group manager risk capital at PMV. The corona-loan of PMV is a three-year subordinated loan that tries to mitigate the effects of the corona crisis for Flemish companies. It complements the very short-term bridging loans set up by the federal government of Belgium. The focus is on start-up companies and scale-ups, as well as mature companies that temporarily run into difficulties due to the corona crisis and are in need of financial reinforcement to overcome the effects of the crisis. The subordinated loans must be applied for before 15 April 2021.
Edward Schiettecatte, CEO adds: "The corona-loan of PMV will make it possible to prepare a financing round in 2021-2022 to fund the development of TRAINM centres abroad. After all, the fact that TRAINM's treatment sessions are already reimbursed in some countries by the government or health insurances opens up prospects for international expansion, for which we have already developed plans. We are thinking of marketing our treatment method and opening new centres in the Netherlands, Germany and Switzerland as well." Incidentally, during the corona pandemic, TRAINM immediately deployed its expertise to offer rehabilitation and online physical therapy sessions for ex-patients who spent time in intensive care due to corona.
Filip Clarisse, Communication manager at PMV, email@example.com, +32 498.630.591.