Portuguese unicorn Sword Health will invest €250 million in Portugal by 2028, increasing its workforce in the country to more than 900 employees, including 700 engineers, and creating a global innovation hub focused on artificial intelligence in healthcare.
The investment is based on three strategic pillars – qualified human resources, technological infrastructure, and Research and Development (R&D) with a focus on training AI models, ECO reported, citing a company statement.
According to data from Sword Health, the globally leading AI care company currently has more than 600,000 patients treated on three continents and nine million AI sessions performed, and expects to “quadruple” its turnover by 2027.
Virgílio Bento, founder and CEO of Sword Health, says the investment reflects the company’s belief that Portugal has all the conditions to become a world leader in the area of AI.
“It also reinforces our vision for a more innovative Portugal, capable of elevating its talent and creating global and world-leading solutions,” he added, noting that it is an example the company wants to set in the national ecosystem.
Expansion of workforce
By 2028, Sword Health plans to expand its structure in Portugal, where it already operates offices in Lisbon and Porto and hosts most of its AI engineering team. Annual investment in human resources will increase from €30 million to €60 million, with the local team growing from around 500 to more than 930 people, including a large number of qualified professionals. The number of engineers will increase from 340 to more than 700.
Recruiting professionals with PhDs will be a priority, and the company also plans to fund and integrate recent graduates and researchers. Sword Health expects to award more than 60 PhD and Master’s scholarships by 2028, aiming to strengthen its collaboration with academia and research institutions.
Recently, the company announced partnerships with the University of Évora, Universidade de Trás-os-Montes e Alto Douro (UTAD), and the Polytechnic Institute of Castelo Branco.
These agreements give students from those institutions “privileged access to internships and first jobs at Sword Health, according to their academic path.” The partnerships also include support for universities in initiatives that promote employment and help place young people in the job market, strengthening direct contact between students and professionals.
Investment in AI infrastructure
The planned €10 million investment in advanced AI computing infrastructure by 2026 is intended for the creation and training of foundational models.
In 2028, the annual value of AI infrastructure investment could reach €27 million. “In parallel, it will continue to invest in the development of the infrastructure that supports its solutions, as well as in the expansion of operations in Portugal and Europe,” the company said.
The investment in R&D will also double by 2028, with the goal of “strengthening the capacity for scientific and technological innovation, enhancing collaborations with Portuguese universities and research centers.”
According to Sword Health, the expected outcomes of this investment include “the creation of jobs in technologies and health care, the attraction of international investment, and the validation and export of models developed in Portugal to health systems around the world.”
Featured image: Virgílio Bento, founder and CEO of Sword Health (Photo courtesy of Virgílio Bento/LinkedIn)
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