LungFlex, a Swedish life science company developing solutions for long-term oxygen therapy, has raised an undisclosed investment round led by Almi Invest, alongside Media Mobility and a group of angel investors with expertise in medical technology and life sciences.
Rethinking Oxygen Therapy for Everyday Life
Founded in 2011, LungFlex is the developer of FlexO2 — a patient-controlled medical device designed to improve the daily lives of people requiring long-term oxygen therapy.
FlexO2 is a mechanical valve worn around the neck and connected to an existing oxygen system. It allows users to adjust oxygen flow based on their activity level and personal needs, offering greater autonomy and reducing reliance on caregivers and healthcare providers.
The product has been developed in close collaboration with patients, ensuring it reflects real-world usage and everyday challenges.
Scaling Access to a Growing Market
The new funding will support the company’s next phase of growth, with a focus on scaling production and expanding access to patients both in Sweden and internationally.
The timing aligns with strong market tailwinds. The global home oxygen therapy equipment market is projected to grow from $2.6 billion in 2023 to $5.1 billion by 2032, driven by aging populations and a shift toward home-based care.
Backed by Experience
LungFlex is led by CEO Annika McCrea, alongside co-founders Peter Hagström and Bengt Hansson. The team brings extensive experience in medical technology, commercialization, and business development.
With Almi Invest joining as an active owner, LungFlex gains not only capital but also strategic support and access to a broader life science investor network.
A Shift Toward Patient Independence
As healthcare systems continue to move beyond hospital settings, solutions like FlexO2 highlight a broader shift toward patient-centric care — where independence, usability, and quality of life are as critical as clinical outcomes.
By giving patients direct control over their oxygen therapy, LungFlex is positioning itself within a growing category of home-based medical technologies designed to empower users rather than limit them.
