5.09.22
4 min. read

13 secret health tech investments

Issue 053

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 13 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…

13 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. (Unless noted otherwise in the write-ups below, 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.

Before we get to more recent funding scoops, a quick flashback: Three weeks ago E&O reported on the $10 million round of funding raised by Heard, a startup that provides bookkeeping and tax services for mental health providers. That was in Issue 052, which dropped on April 18th. Four days ago the company officially announced the news. Read on for more funding you might see reported elsewhere in the weeks ahead…

First-up, financing for an acquisition: $20 million in debt – OneroRx – This telepharmacy company raised $20 million in debt to make an acquisition. The company also just acquired Medley Pharmacy, a multi-site pharmacy company in Missouri. So, $20 million could be close to the price tag of this acquisition. Site

$12 million – Kinetik – “…healthcare transportation infrastructure — one that digitally connects health plans, brokers, and providers. This enhanced level of connectivity significantly improves access to care for patients.” Site

$10.6 million in equity and other securities – Moving Analytics – “Moving Analytics provides virtual cardiac rehab and comprehensive cardiovascular disease management programs to support cardiologists and health plans in improving the health outcomes, quality and cost of care for their members.” Site

$5.7 million – Rhino Health – “Rhino Health provides AI/data-science developers and medical researchers with a platform that enables data collaborations without sharing data or compromising data privacy. The Rhino Platform is powered by Federated Learning and distributed compute technologies, and uniquely adapted to deal with ‘Real World Data’ from clinical data systems. For health systems, Rhino Health makes it easy to collaborate in data-driven studies and research initiatives as well as with commercial developers.” Site

$4 million via a SAFE – MD [dot] ai – This startup looks to be focused on developing new data sets to train algorithms. “MD.ai was founded by Harvard/Duke/Columbia trained doctors to accelerate the application of AI in medicine with a particular focus on medical imaging. We are committed to helping enable people and organizations around the world build meaningful medical AI applications.” Site

$4 million in debt, options, and other securities – Third Eye Health – “…network of board-certified physicians for virtual post-acute care, we combine mobile technology with physician expertise, clinical care coordination and real-time analytics. By connecting the right people at the right time for every encounter, Third Eye Health delivers seamless, physician-led patient care during after-hours coverage periods, including nights, weekends and holidays.” Site

$2.4 million in debt and convertible notes – Visana Health – “Visana Health is redesigning women’s healthcare with our comprehensive, virtual women’s health clinic. We provide integrated, multidisciplinary best-care practices for chronic women’s health conditions that impact over 1 in 3 women.” Site

$2 million in debt – Serif Health – This startup was part of a recent Y Combinator class: “Serif Health enables healthcare provider organizations – hospitals, outpatient centers, practices, and physician groups – to work with health insurance plans to establish and maintain network contracts. Our platform streamlines lengthy and opaque negotiation, onboarding, and compliance processes to ensure a win-win outcome for both parties.” Site

$1.7 million – StartBox – “The StartBox System begins by recording the decision for surgery between patient and physician. The System then allows members of the healthcare team to capture data at checkpoints throughout the continuum of care, and uses a color-coded visualization that designates procedure laterality. Any member of the healthcare team can flag errors during the various checkpoints and provide real-time alerts to improve patient safety and procedure outcomes.” Site

$1.3 million in other securities – Isaac Health – Isaac Health is a B2C2B virtual care provider of brain-related health services. “Isaac Health makes high-quality brain health, cognitive, and dementia care easy and convenient for everyone.” Site

$1.2 million – Serenity Engage – “Serenity is a HIPAA-compliant communication platform for senior living, hospice, and home care to streamline communication.” Site

$1 million – Ennova Health – Still pre-launch but positioned as a tech-savvy procurement platform for providers. “We are putting the finishing touches on our data-driven digital marketplace. Stay tuned as we prepare to empower hospitals and suppliers to improve their profitability.” Site

$1 million – Strongest AI – This company sells a gamified workout app that uses the smartphone’s camera to track pacing. (The company also owns the domain strongest [dot] com.) “Challenge yourself, set new PRs, and achieve more fitness goals with the gamified iOS & Apple Watch training experience for functional fitness athletes.” Site

Let’s call that E&O Mondays Issue 053. 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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