Sword Health rules out plans to go public. 'Managing a listed company is boring', says CEO.
Article excerpt
Sword Health rules out plans to go public. 'Managing a listed company is boring', says CEO. The latest funding round valued Sword Health at four billion dollars, but for now, the company has no intentions of going public. In Greece, where it signed an agreement with the local government to create the country's first health information and telephone screening line, the executive president (CEO) of the Portuguese startup, Virgílio Bento, stated, as quoted by Bloomberg, that 'at this moment, managing a publicly listed company seems terribly boring'. The goal is to continue growing and transform Sword Health into a company valued in trillions of dollars. For this, Virgílio Bento has his eyes set on North American investors - the company is now based in New York - on whom, he says, the company's success has so far been 'absolutely dependent'. However, the biggest challenge for what was the sixth 'made in Portugal' unicorn is not in securing funding, but rather in attracting talent. 'If I wanted to raise 200 million dollars, I could do it now', states the CEO, adding that 'access to talent is a limitation for our growth - not capital'. Sword Health wants to transform the healthcare sector, moving from a model that privileges the human being to one that puts artificial intelligence (AI) at its center. Virgílio Bento predicts that the startup's revenue will exceed 200 million...
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The company's CEO states that Sword Health is expanding rapidly in the US and is preparing to enter new markets.
