The COVID-19 pandemic slowed down life cycle of all economic sectors. The health sector was and hopefully is one of the faster-growing sectors in the world economy. The main aim of this paper is to present the theoretical aspects of the effect of pandemic on health sector and to analyse the affected international capital flows impact on European Union Member States digital health services. 
During the investigation, the broad studies on international capital flows, pandemics, and impact on  digital health services were analysed. European Union Member States indicators reflecting digital health services and international capital flows, were collected and analysed. Computed coefficients, representing the change associated with a decrease in foreign direct investments, portfolio investments, foreign debt investments and their impact on the number of newly founded digital health start-ups, and the amount of funding for digital health start-ups were presented.
Analyses conducted shows that COVID-19 affected international capital flows have impact on EU Member States digital health services. Negatively affected international capital flows – foreign direct investments, portfolio investments – have high and negative impact on both the number of newly founded start-ups and the amount of funding for digital health start-ups in developed countries and upper-middle countries.