3.07.22
4 min. read

10 secret health tech investments.

Issue 049
Welcome back to E&O Mondays, the free newsletter from Exits & Outcomes that features health tech puzzles, M&A flashbacks, new and under-the-radar funding news, paid content teasers, and other digital health odds and ends.

 E&O Mondays.

In this issue:

  • Read on for 10 stealthy or under-reported digital health funding deals…
  • But first: If a friend recently told you to subscribe to E&O, they probably meant the paid version. The E&O Mondays newsletter is great and all but you’re missing the real deal: Sign up as a paying subscriber to E&O by clicking right here…

10 secret (or under-reported) health tech funding deals from recent weeks

Instead of rehashing the dozens of funding deals you’ve already read elsewhere, I focused this week on a few deals that you likely have not yet read about. (These are all first in E&O — as far as I can Google.)

Keep in mind: Most of the amounts listed below are currently unannounced equity deals, so the full amount the company raises and eventually announces may be higher than the numbers you read here…

The news you know: A few weeks ago (Issue 048 of E&O Mondays) I mentioned that Omada Health was about to announce a new round of funding led by Fidelity. As you are likely well aware now, they announced the round a little more than two weeks after my scoop. It was $192 million.

New Scoop: Lori Evans Bernstein and Joshua Tauber, two of the execs who ran HealthReveal before selling to Accolade for a little more than $11 million last fall, have started up a new health tech co that’s still in stealth mode: Jade Healthcare. (No website yet.) Details: The New York City-based startup has raised $8.8 million of a hoped-for $10 million round. Investors likely include 7wireVentures and OMERS. (7wire’s Alyssa Jaffee and Lee Shapiro are listed as directors of the company in an SEC filing along with OMERS’ Michael Yang.) Bernstein was HealthReveal’s Co-founder and President at the time of the Accolade acquisition, while Tauber was COO. Bernstein will be CEO of the NewCo and Tauber will be COO — they’re both co-founders.

Send me your best guess: What is Jade’s focus area? My guess: Behavioral health.

Question: Do stealthy startups sometimes purposefully misspell the names of their directors and investors to trip up people searching for SEC filings? The filing for Jade misspelled Jaffee’s last name (“Jaffe”), Shapiro’s (“Shaprio”), and even co-founder Tauber’s (“Trauber”). I noticed Shapiro’s right away and assumed it was a typo, but when I realized there were at least three… is my tinfoil hat on too tight?

$8.2 million – CuraPatient – One of the companies powering vaccination appointment booking during the pandemic for counties including the OC: “Composite Apps, Inc. specializes in applying Artificial Intelligence and advanced data analytics to compress inefficiencies out of our clients’ operations — sectors ranging from defense to entertainment to logistics deploy our CURA platform. CuraPatient is a separate healthcare company… CuraPatient’s vaccination [app] is Othena — used by 1.3 million Americans.” Site

$7.5 million in equity and convertible notes – Peerbridge Health – “Shower friendly and FDA cleared, the Peerbridge Cor is the smallest and lightest multi-channel wireless ECG available.” Site

$6.1 million – Delfina – Story Ventures is an investor. From the founder of digital health non-profit Hikma comes a relatively new startup focused on monitoring higher risk pregnancies: “Delfina software assists in patient management by highlighting higher risk situations for physicians to quickly review. Moreover, for each patient, our algorithms monitor the fetal heart traces to help call attention to anomalies as they occur. Over time, our machine learning algorithms, data scientists and clinical experts will use outcomes from each patient the Delfina system has seen to bring automated insights for more indications.” Site

$6 million – OpenLoop Health – A clinician staffing startup that features logos from customers including Thirty Madison, Cano Health, and more. “Servicing all 42,000 zip codes, OpenLoop accelerates the delivery of patient care by leveraging our trusted community of certified clinicians and insurance partners across the US.” Site

$1.7 million in equity and SAFEs – Thrive365 – Health coaching and digital tools for people with prediabetes or Type II diabetes. Site

$935,000 – Octiva Healthcare – Telehealth company providing virtual urgent care direct-to-consumer and also as a service for healthcare provider partners. Site

$756,000 – BeMe AI – “BeMe empowers Autistic individuals, their families, and care team with the tools they need to thrive. We take a holistic view of things like sleep, nutrition, environment, and other factors to deliver rich insights that help connect the dots between your child and the unknown.” Site

$700,000 in convertible notes – Visana Health – Virtual gynecology clinic that offers care for any women’s health condition. A prominent tab on the company’s site suggests it is targeting employers. “Visana Health was founded by Joe Connolly, who watched his mother suffer from unbearable menstrual pain caused by endometriosis for 25 years. Joe quit his job as a medical device engineer to ensure other women won’t have to suffer like his mother.” Site

$415,000 in debt, options, and a convertible note – EpiWatch – This Johns Hopkins spinout uses an Apple Watch to detect seizures and it in the process of building an epilepsy care offering: “EpiWatch will lead the digital transformation of epilepsy care by delivering innovative and integrated services that keep people with epilepsy safe; enable them, their caregivers, and their physicians to better manage their condition; and provide peace of mind for their loved ones.” Site

Let’s call that E&O Mondays Issue 049. Help me E&O subscribers, you’re my only hope: If you learned something from today’s issue, would you forward this newsletter to someone you think might be interested?
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