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:
- This week E&O rounded up 21 secret health tech fundings from recent weeks. (I had a few others but they kept announcing them while I was writing them up today — hopefully no more slipped through just before I hit send.)
- And after a long wait… the answer to the final Rebus puzzle of 2021.
- But first: If this was forwarded your way, why not sign up as a paying subscriber to E&O by clicking right here…
21 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…
But first… Not a funding deal, but Gympass paid Trainiac $5.4 million in equity as part of its acquisition of the startup. Trainiac only had a few employees and it raised a couple of million in VC. Gympass announced the deal on December 15, 2021, but didn’t disclose any of the terms.
$27.4 million – Vynca – Vynca has a lot going on but here’s the boilerplate from the company that lists out most of what it offers: a “serious illness management platform that incorporates virtual palliative care services, advance care planning, care coordination, symptom management, whole-person care and provider engagement.” Site
$22.4 million – Recora – Recora offers a recovery program for people who have had a heart attack (or other cardiac event). “Recora helps people recover confidence, community, and motivation following a cardiac event through coaching, guided exercise, and personalized care.” Site
$15 million in debt – Spencer Health Solutions – SHS calls its product, Spencer “the only direct-to-patient device that integrates pill dispensing, data analytics, and telehealth technology.” Site
$8.9 million – Janus Health Technologies – “Janus Health is changing the way the healthcare revenue cycle functions…. Janus studies end-user behavior within the revenue cycle and determines the optimal path for each process. Real-time predictive recommendations are made to human workers to guide them on the next best action to perform with every claim.” Site
$8.5 million – DermaSensor – The device and companion software is only available in Australia and New Zealand currently: “A handheld, objective device to assist primary care providers in checking patients for skin cancer in seconds.” Site
$6.5 million – Hidrate – Surprisingly, the Bluetooth-enabled, smart water bottle company has done some small clinical trials to try to prove its hydration reminders help people with kidney stones. Site
$6.3 million – Nudj Health – Yuri Sudhakar, who co-founded and ran Geneva Health Solutions (GHS) before selling it to BioTelemetry, looks to be the CEO of this still quiet startup. Trademark filings indicate Nudj is still figuring out its focus — it might be a wellness startup (“wellness starts with a nudge”) or it might be more focused on behavioral health: “primary care services, behavioral health integration (BHI) services, and psychiatric collaborative care (CoCM) services to patients receiving medical, mental and behavioral health care treatment from primary care practitioners.” No site yet.
$4.7 million in equity, options and other securities – Measure Labs – This still very quiet startup calls itself an “AI-enabled SDK/API for mobile health sensing” and stakes the claim that: “to truly unlock telehealth, healthcare organizations need remote access to patient vitals.” Site
$4 million – Bateau – “We help senior living companies use data to serve residents and improve their bottom line. Our Resident360 software combines financial, clinical, and operational data in one HIPAA-compliant platform so that every team can achieve their full potential.” Site
$3.4 million – StationMD – This virtual care practice based in New Jersey offers telehealth around the country with a focus on helping people with intellectual and developmental disabilities. “StationMD has immense experience taking care of individuals with Intellectual and Developmental Disabilities (IDD). In addition, we are telehealth experts focusing on other populations with special needs. Our staff is well versed in both residential and group-home settings.” Site
$3.2 million – Wellnecity – “Wellnecity leverages technology and unparalleled service to empower self-insured employers to save up $2,000 per employee on health benefits. Our ProActive Benefits Management Platform uses superior business intelligence and ongoing support to help employers take control of their spend, eliminate waste, and make better choices, without disrupting their current plan structure or vendor relationships.” Site
$3.2 million – TALON Health Tech – This company is focused on the new No Surprises Act and offers an app called MyMedicalShopper that it calls a “mobile-first app that arms consumers with the information they need to make intelligent healthcare purchasing decisions.” Site
$3.1 million – Neurolytic Healthcare – The company is backed by Y Combinator and has already announced its first virtual clinic, Dive Health, which is focused on migraine care. “Neurolytic Healthcare is a precision telehealth start up that uses a combination of genomics and digital biomarkers to personalize treatment for neurological conditions.” Site
$2.6 million – MedTrans Go – “MedTrans Go aims to solve the problem of medical appointment cancellations by providing non-emergency medical transportation, interpretation, telemedicine, and delivery services in one simple interface.” Site
$2.4 million – Reciprocity Health – “Reciprocity Health works at the intersection of behavioral economics and healthcare, delivering a platform that improves patient adherence and lowers medical expenses through advanced modeling and programmatic campaigns grounded in Financial Incentives, Social Dynamics, & Gamification.” Site
$2.4 million – MyMedicalHUB – “Our musculoskeletal assessment solution can be delivered in person or through our telemedicine interface with VAssess™ technology, a virtual measurements and movements capture system. It provides predictive analytics through the collection and analyzation of data from over 900 points on the human body. The assessment which benchmarks the major components of the body provides precise insights to the risks associated with musculoskeletal catastrophic injuries.” Site
$1.6 million in options and other securities – Reperio Health – This company has an interesting model: It ships out a kit that includes sensors that measure blood pressure and resting heart rate, tools to figure out relative fat mass, plus two finger-prick blood tests that get readings on glucose and cholesterol. The company’s hook is that all of these results are combined into an easy-to-read report and presented within a few minutes. The user then ships the kit back to the company. Site
$1 million – Carelistings [dot] com – “CareListings provides caregiver job seekers access to the most senior care employers in one place – for free. With listings for 120,000+ senior care facilities in the US, direct care worker heroes are able to explore all available employers when searching for new career opportunities.” Site
$875,000 in equity and other options – AlgometRx – This startup spun out of Children’s National Hospital in Washington DC. It has developed a handheld device that can be mounted onto a smartphone. The device monitors a person’s pupil dilation and uses an algorithm to determine what it calls a more objective measure of that person’s current level of pain. Site
$750,000 – Plant Based TeleHealth – If, like me, you are tracking the many niche virtual care providers popping up lately, here’s a new one: “Plant Based TeleHealth (PBTH) provides medical care for patients who have chronic disease and other medical conditions, including, but not limited to, diabetes, high blood pressure, high cholesterol, heart disease, obesity, autoimmune diseases, inflammation, and digestive issues. These conditions are addressed through lifestyle medicine—the powerful, evidence-based practice of promoting healthy behaviors and lifestyle modification, including a whole food, plant-based diet.” PBTH also partnered with a vegetarian meal kit company to create a physician-guided “immersion” program. Site
$250,000 – WAVR – The company’s name stands for “Wide Awake VR” and it’s just what it sounds like: “WAVR is a better and safer way for people to experience surgical procedures without the need for general anesthesia. When patients use VR to mitigate against anxiety, surgeons can use local anesthetic in the comfort and safety of their offices.” Site
Health Tech Rebus Answer
It’s been a while but way back in 2021 E&O sent out the Health Tech Rebus Puzzle below. Here’s the answers for those of you still scratching your head…
Answer: “The Rise of the In-Network Virtual Clinic” Here are a few subscribers who got it right:
- Josh Sackman, Pres & Co-founder, AppliedVR
- Phil Weiss, VP Customer Success, CipherHealth (Linkedin)
- Lisa Suennen, Leader of Venture Valkyrie
If you didn’t get to it last time, here’s how to play: This kind of puzzle is called a Rebus. Write down or think of the word for what’s pictured in each box as a starting point. Then swap letters (if you see =), or remove letters (when you see -), or add letters (when you see +) at the beginning, middle, or end of the words as noted. Then sound it out.
Hint: (Not much of a hint this week.) One thing E&O plans to track much more closely in 2022 is…