July 8, 2022
Breakthrough Victoria announces investment in Seer, powering global expansion
Breakthrough Victoria has today announced its investment in Victorian medical technology group Seer Medical to support its plan to become a global leader in epilepsy home monitoring and management.
Seer is globally renowned as a leader in the development of neurological monitoring with the potential to boost health outcomes for patients across the world. The contribution from Breakthrough Victoria will allow Seer to nearly double its workforce and footprint in Victoria, while expanding into the United States and United Kingdom. The expansion could generate an additional 225 jobs in Victoria by 2028, with Seer to retain its Melbourne headquarters.
More than 65 million people worldwide live with epilepsy, which is often difficult to diagnose and complex to treat. Epileptic seizures can be devastating for both patients and their families, with the economic burden estimated at more than $12 billion a year in Australia, according to a 2019-20 Deloitte report.
Founded in 2017, Seer now operates more than 20 clinics around Australia. In Victoria, Seer has already monitored 3,500 patients, saving the Victorian healthcare system an estimated $45 million.
With this funding, Seer will continue its research and development activities, and expand delivery of its epilepsy service further into regional Victoria, Australia and internationally.
“Seer is working towards a future where world-class healthcare is accessible, affordable and delivered in the home,” said Seer CEO & Co-Founder, Dr Dean Freestone.
“With this support from Breakthrough Victoria, our team will be able to continue our work to build more intuitive, accurate and accessible tools that integrate into the workflows of neurologists and other medical practitioners. Critically, this technology will allow us to better support the lives and wellbeing of the epilepsy community.”
“When you look at the alternatives for people with epilepsy and undiagnosed seizures, it can be a really long road to the right diagnosis. Seer accelerates this process and then supports patients through better health management.”
Breakthrough Victoria CEO Grant Dooley said the investment in Seer would further drive innovation and increase translation and commercialisation pathways for research and technology in Victoria.
“The technology is an example of world-leading capability that has the potential to change lives for patients not only in Victoria but across the world,” he said.
“Breakthrough Victoria’s investment supports Seer’s international growth strategy while ensuring the company retains its foothold in Victoria.”