Welcome back to E&O Mondays, the free newsletter from Exits & Outcomes that features health tech puzzles and trivia, new and under-the-radar funding news, paid content teasers and other digital health odds and ends.
In this issue:
- So, wow, 16 secret health tech fundings for this issue. A few of them are pretty interesting.
- And… the long-awaited answer to last week’s Health Tech Triva Question.
- But wait: If this was forwarded your way, why not sign up as a paying subscriber to E&O by clicking right here…
Thanksgiving holiday in the US: As a result of the holiday this week, E&O will not be published on Friday.
16 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…
$22 million – Nursa – Nurse staffing site for temporary shift work for RNs, LPNs, and CNAs. Site
$15.7 million in equity, debt, securities and other options – Tula Health – (The company raised $8.3 million in equity.) “Tula is a digital health platform supported by BioCheck, a wearable device that continuously and noninvasively monitors blood glucose, blood pressure, blood oxygen, EKG, and hydration, among other key health metrics.” Site
$6 million – Folia Health – (Boston Business Journal actually reported on this one a few days ago, but it has gone otherwise unreported.) Folia offers an app that uses multiple choice questions to help users track their symptoms and other observations of daily living. “It takes 90 seconds to answer your questions and capture a full snapshot of your health – get rid of all your spreadsheets, notebooks, and binders. You can use Folia to manage multiple conditions, multiple patients, and to collaborate with multiple caregivers.” Site
$5 million – ThoughtSphere – One of the investors in this one did put out a press release back in October, but it didn’t include any dollar amounts. “We help eliminate the two biggest challenges in clinical trials: integrating disparate clinical and operational data and making that data accessible for use with existing tools for analytics and visualizations.” Site
$4.5 million – Vitls – (The amount includes $3.3 million “through the issuance of stock upon the conversion of outstanding convertible securities.”) Here’s what they do: “Vitls developed a clinical-grade platform that enables healthcare providers to reliably and accurately monitor key patient vital signs in real-time. The Vitls Platform consists of Tégo, a small and unobtrusive wearable that wirelessly records vital signs; the Vitls Cloud, where data is stored and then sent to hospital systems, the Vitls App and other connected devices; and the Vitls App, which displays the data in an intuitive layout.” Site
$3.2 million – nView Health – “nView Health offers behavioral health technology that enables healthcare professionals, researchers, and educators to rapidly deliver the right diagnosis, resulting in the right treatment at the right time. Its signature product, the digital M.I.N.I., allows providers to deliver validated diagnostic behavioral health screens, interviews, outcome tracking, and billable services to patients in a simple, easy-to-use platform.” Site
$3 million – Itiliti Health – The company, which was founded by two BCBSMN alums, aims “to transform how we facilitate prior-authorizations, and… to help more patients get what they need most — the right care, at the right time, with less hassle.” Site
$2.3 million in other options – Ryse Health – “As a cutting-edge endocrinology practice, Ryse Health is dedicated exclusively to helping patients with type 2 diabetes live healthier lives. Each patient receives in-person as well as virtual access to a diabetes specialist, a dietitian, a behavioral health specialist, and a health coach.” Site
$1.9 million – Cabinet Health – This company is an online pharmacy that sells dozens of OTC generics, but its hook is that it packages its meds in biodegradable materials. “Cabinet was started by people who care about healthcare and sustainability. From multi-generational medicine makers to doctors and environmentalists, we’re all passionately focused on making care better for our families and others. When you join the Cabinet community, you’re helping to build a more sustainable world.” Site
$1.3 million in convertible debt and other securities – Ascellus Health – “Ascellus is the leading behavioral health provider focused on helping injured workers restore their physical and emotional wellbeing. By bringing people and technology together, Ascellus delivers customized treatment options through a national network of 1,500 licensed clinicians, reducing costs for workers’ compensation claims and empowering injured workers to return to work sooner.” Site
$870,000 in debt and other options – Jana Care – Jana has developed a device named Aina. “The Aina technology is a multi-parameter platform that performs biochemistry, immunoassays, enzymatic assays, and chemical affinity to provide a quantitative readout in several chronic disease categories, including diabetes, in minutes. The diagnostic sensor can plug into any smartphone to analyze HbA1c, blood glucose, hemoglobin, serum creatinine, lipids and other tests from a capillary blood sample. Aina can be used by patients for self-monitoring and by healthcare providers for public health or point-of-care testing.” Site
$600,000 – Kneevoice – This company developed a knee wrap that includes sensors to monitor the health of the joint or as the company explains it: “Kneevoice has developed a digital patellofemoral audio-arthrography system, combining a high tech sound acquisition system with revolutionary cloud-based machine-learned algorithms, to promptly and efficiently achieve diagnostic accuracy previously available only through non-dynamic, non-specific or invasive tests.” Site
$500,000 in a mix of equity and other securities – Tip a ScRxipt – “A crowd-funded platform used to send or request money when people experience difficulty paying out-of-pocket for their needed medications on their own.” Site
$275,000 – Grief Coach – Bereavement care at scale. “Grief Coach delivers personalized grief support via SMS. We send content, tips and reminders to people who are grieving, as well as to the friends and family who want to support them, but often aren’t sure how… Text messages are delivered all year long, and are customized based on age, cause of death, relationship to the deceased and more. Grief Coach is purchased by individuals, as well as by organizations such as hospices and other organizations who need new ways to deliver bereavement care at scale.” Site
$250,000 – Prescribe FIT – “Virtual health and lifestyle coaching through a hardware and software combo that provides real-time biometric, health, and lifestyle data to providers for use in care for chronic conditions.” Site
$100,000 – Appy Health – “Whether a patient is new or established, Appy Health takes the hassle out of completing countless intake and consent forms. The Appy Platform captures 100’s of key data elements that will then auto-fill your Practice’s custom forms.” Site
Health Tech Trivia Answer
Alright… time for the long-awaited answer to last week’s Health Tech Trivia Question. But first: Here are the names of the only three E&O readers to get it right (making it the most difficult health tech trivia question I’ve asked yet…):
- Uma Verma, Director of Business Development, Biogen (LinkedIn)
- Sheetal Shah, SVP Commercial, Woebot Health (LinkedIn)
- And an anonymous reader in Europe
Congrats to the winners!
And the answer: b. Bye Bye Birdie.
ICYMI — Last week’s trivia question was: In keeping with the Noom theme, this is going to be a Noom-related trivia question. It’s one of the more obscure details in Noom’s origin story… and, hey, no Googling!
Question: Prior to founding Noom, CEO and co-founder Saeju Jeong was working in NYC to bring which Broadway musical to Korea? a.) The Phantom of the Opera b.) Bye Bye Birdie c.) Cats