8.15.22
4 min. Read

$100 million in secret health tech deals

Issue 058

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 11 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…

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

Instead of rehashing the dozens of funding deals you’ve already read about, I focused this week on a few deals that you likely have not yet read about. (Outside of a couple of these getting mentioned in local news round-ups, 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. Read on for more funding you might see reported elsewhere in the weeks ahead…

$25.9 million – Empatica – Empatica was looking to raise about $34 million. “Empatica, an MIT spin-off, is a pioneer in offering continuous, passive, and unobtrusive monitoring for patients with neurological conditions. We build software and algorithms to advance understanding of human behavior through wearable sensors.” Site

$20.2 million – Assured Allies – Assured was looking to raise north of $40 million, which would be a little more than twice the round it announced in July 2021. “Assured Allies is the leading provider of evidence-based successful aging innovation with deep expertise in data science, medical insights on aging and program management.” Site

$15 million – CareHarmony – Founded in 2015, CareHarmony is a provider of software and services for chronic disease management. Site

$13.1 million in a mix of equity and debt – Acclivity Health – “Our platform is designed to securely connect all members of a care community — physician practices, ACOs, hospice and palliative care organizations, payers, and caregivers — and facilitate effective care collaboration that results in the right care in the right place at the right time. By delivering appropriate and timely services to their shared patient population, multidisciplinary care teams are able to meet value-based care program requirements. Today, we serve healthcare organizations in 38 states enabling care management for 4 million patients. We have helped to prepare hospice and primary care organizations in 24 of 26 regions succeed in the Primary Care First and the Seriously Ill Population program.” Site

$11.5 million – Quit Genius – The company’s filing shows it was looking to raise a little more than $15 million. “Quit Genius is the world’s first digital clinic delivering a comprehensive Medication-Assisted Treatment program for multiple addictions, 100% virtually.” Site

$7.2 million – Stability Health – “Stability Health is a virtual health-enabled care company which improves outcomes and lowers healthcare costs for patients with complex diabetes. Our clients are those healthcare organizations and clinicians who serve these patients… Our embrace of the most clinically complex patients, those with poor control and multiple co-morbidities, are those individuals who are most costly and need help most. With Stability Health, you gain an experienced diabetes clinical partner utilizing a proven digital diabetes operating system to support your clinicians and patients.” Site

$6.1 million – CrowdHealth – CrowdHealth is a membership-based, crowdfunding site that acts as an alternative to traditional health insurance. “CrowdHealth is a technology platform and a set of tools that enable people to fund their healthcare expenses outside the traditional health insurance system.” Site

$2 million – kelahealth – Kela was looking to raise about $4 million, according to a regulatory filing. The company raised $12.9 million in October 2020. Also known as “SAIL”. “A healthcare data analytics company that delivers patient-specific predictive insight and risk stratification software to help improve surgical quality and prevent complications.” Site

$1.5 million out of a hoped-for $2 million – Itiliti Health – The company wants to use software to make the prior authorization process easier. “Itiliti Health’s best-in-class technology accelerates communication between payers and providers so the right medical policies are applied and the right procedures are authorized quickly, securely and cost-effectively.” Site

$1.5 million – EnSage Health – “We provide geriatric psychiatry-led, team-based care and behavioral care management services to seniors, caregivers, and clinicians. Through a hybrid virtual and in-person model, EnSage enables timely and accessible care that improves outcomes for patients while also lowering costs. Geriatric Psychiatric conditions primarily include Alzheimer’s or other dementias, anxiety, depression, and substance use disorders. EnSage is backed by AlleyCorp, a leading early-stage venture fund and incubator that founds and funds transformative companies in New York.” Site

$420,000 – ThrivePass – The company was looking to raise $5 million. “The company offers traditional TPA services (HSA, FSA, HRA, Commuter, and COBRA administration) alongside its own cutting-edge benefits software (lifestyle spending accounts, tuition reimbursement and repayment programs, and benefits administration).” Site

Let’s call that E&O Mondays Issue 058. 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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