2.07.22
4 min. read

15 secret health tech investments. New crossword

Issue 048

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 15 stealthy or under-reported digital health funding deals…
  • And… there’s a new crossword puzzle this week. More on that below.
  • 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…

15 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…

$[Hundreds of millions?] – Omada Health – Heard from sources that Omada has landed a new round of funding led by Fidelity. This is their Series F, I think? Hit reply and fill me in if you know more…

$21.2 million in equity and other securities – Duos – “DUOS: pairing older adults with personal assistants who support them the way they want. It’s how we tackle “social determinants of aging,” the conditions that impact older adults’ health and quality of life… During a global pandemic, our members have stayed more connected and independent, alleviating some of the stress on unpaid caregivers.” Site

$13.6 million – Cordio Medical – “Cordio develops and provides groundbreaking solutions for monitoring health conditions through a patient’s voice. A patient’s free speech into a smartphone app backed by sophisticated and proprietary algorithms, allows near real-time monitoring and early detection of condition deterioration.” Site

$12.2 million – Pursuant Health – A while back this health kiosk company was called Solo Health. It got started in 2007. They have health kiosks in more than 4,600 retail stores like (Walmart and CVS) around the US. Site

$10.2 million – VisuWell – “VisuWell is a leader in telemedicine innovation delivering enterprise-ready solutions to over 300+ hospitals, facilitating millions of telemedicine sessions for patients, and customizing 35+ use cases across the U.S. By enabling organizations to utilize their own network of providers, VisuWell facilitates complex virtual care use cases including emergency services, telestroke, urgent care, neo-natal, and multi-initiative workflows.” Site

$5 million – Sika Health – Still mostly stealthy health payments startup: “The only payment method that unlocks seamless savings with FSA and HSA health wallets.” Site

$4.3 million – UpSwing Health – “Part diagnostic platform, part virtual clinic, part recovery platform. Exclusively for orthopedic issues. Upswing is helping everyone, regardless of age or ability, prevent and recover from injuries that might slow them down.” Site

$3.7 million – Butterfly Labs – “Butterfly Labs is an end-to-end platform diagnostics company powering the future of personalized medicine. Today we offer an API service for digital health companies to easily add diagnostics through at-home blood testing.” Site

$3 million – Resonea – “Determine whether you are at risk for [obstructive sleep apnea] with DROWZLE, a software program that uses your smartphone to collect symptom data and analyze sleep breathing sounds and patterns. DROWZLE works from your nightstand and doesn’t interrupt your natural sleep habits, so it captures an accurate picture of your sleep breathing sounds and gaps. Test overnight and receive a comprehensive report in the morning.” Site

$2 million in equity, debt and other securities – Celeri Health – “We collect clinical study grade multidimensional patient-centric data (Patient-reported Outcomes, diagnoses, drug history, procedure registry, wearables, and physiologic data) that we turn into information, knowledge, action, and outcomes.” Site

$1.5 million – HearMe – HearMe is an app that connects users to people to “empathetic listeners”. More: “We all need someone to talk to. HearMe anonymously connects you with an empathetic Listener in under a minute, 24 hours a day – for free. Take charge of your mental health.” Site

$1 million – Hoy Health – “Founded in 2017, is the first and only bilingual Digital Primary Care platform with a family of virtual products and services specially designed for the healthcare needs of medically underserved populations in the US and around the world.” Site

$1 million in debt – SleepMe – Sleepme offers a trio of product lines that include thermoregulation devices, sleep trackers, and a wellness platform that connects to other IoT wellness devices. Site

$750,000 – PharmD Live – “PharmD Live’s telehealth solutions rest on a nation-wide network of clinical pharmacists and AI-driven technology capable of identifying, predicting and preventing medication risks and gaps in care. PharmD Live’s personalized and proactive care delivery model is designed to improve patient outcomes and drive clinical efficiency and value-based profitability.” Site

$550,000 in a convertible promissory note – Vheda Health – “Vheda Health is a member first, remote patient monitoring company dedicated to humanizing healthcare, through technology. Through 24×7 remote monitoring and live outreach, we decrease medical claims cost an average of $15,000 per member per year by empowering members to be in compliance with their care plan.” Site

Crossword: Celebrities and Digital Health

Here’s a new E&O crossword puzzle.

Theme: This week it’s Celebrities and Digital Health

Hints: The answers are all celebrity names. They may be investors, spokespeople, Chief Impact Officers, etc. but they each have an arrangement of some kind with a digital health company. And those arrangements all made headlines. The answer may be their last name, first name, stage name, nickname, etc.

Buttons: If you hit the “Solution” button, then every answer will fill into the puzzle. If you hit “Reveal” then the full word that is highlighted will reveal itself. “Revert” will clear everything and start the crossword over, which is helpful if you accidentally hit “Solution.”

Let me know what you think? I tried to make this one a bit easier since the last one was too difficult. And play the crossword right here.

Let’s call that E&O Mondays Issue 048. 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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