8.01.22
4 min. read

$50 million in secret health tech deals

Issue 057

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 nine 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…

Nine 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. Read on for more funding you might see reported elsewhere in the weeks ahead…

$18.5 million – Arine – Arine’s filing shows it was looking to raise $21 million so I’d guess the eventual announcement is more than $20 million. “Arine optimizes medication therapy and treatment plans – saving 1 in every 6 healthcare dollars spent. The company’s platform aggregates and analyzes clinical, social and behavioral data to identify gaps in patient care and uses artificial intelligence to address and resolve them on behalf of payors and risk-bearing providers.” Site

$8.5 million – SaVia Health – “SaaS based healthcare software technology company. We provide clinicians and healthcare leaders with a no code, real time clinical decision support platform transforming paper-based, analog care processes into digital workflows.” Site

$7.9 million – Secure AI Labs – Also known as “SAIL”. “Secure AI Labs offers hospitals the digital rights management platform to maintain full ownership and control of their data when conducting research, federated machine learning, and other analysis.” Site

$6 million – Elite HRV – EHRV is a top app that is moving into B2B by licensing its HRV tech to other app-makers who might want to embed it into their own apps: “Heart Rate Variability (HRV) tracking app for deep insight into your health, stress, recovery and nervous system balance.” Site

$6 million – Smarter Dx – This filing just came in from a round the company raised in the spring. Still, I don’t believe it’s been announced or reported on yet. “An AI tool that understands the clinical context of diagnoses (and missed diagnoses), our Clinical Context Understanding engine enables complete capture of Revenue and Quality metric influencing diagnoses.” Site

$5.4 million – Heading Health – Heading is known for its ketamin trial with Entheon, but the company is positioned more broadly as a virtual mental health care provider. Lightbank is one of the startup’s investors. “Heading is a mental health care provider that offers personalized and collaborative care, guided by innovative research and technology. No matter where you are in your journey, we’ll collaborate with you (and other doctors, if needed) to create your unique treatment plan. We offer a range of treatment options, including: talk therapy, medication management, transcranial magnetic stimulation (TMS), Spravato, and intramuscular ketamine.” Site

$4.1 million – Prepared – This startup is trying to modernize 911 services by adding texting, livestreaming, GPS and more. “Imagine responding to an emergency that you could hear, but not see. This is the reality for the vast majority of 911 operators across the country today. With Prepared Live, these 911 operators can immediately visualize a situation at-hand with real-time access to data like Video, Picture, GPS Location, and Text Messaging.” Site

$1.1 million – ReviveHealth – This looks to be a primarily text-based telemedicine company focused on employers that claims to cost about $1 a day: “ReviveHealth provides employees with a solution for timely access to healthcare at no cost and with no hassles. Simple to use and available in all 50 States with an end-to-end solution for everyday mental health, prescription, urgent care, primary care needs and much more. The cost to Employers is on average .15 per hour, per employee.” Site

$755,000 in a Simple Agreement For Equity (SAFE) out of a hoped-for $2 million round – NightWare – I already mentioned this in Friday’s newsletter, but figured it should be included here too. “The device, called NightWare, is a digital therapeutic that uses an Apple Watch and an Apple iPhone that are configured and logged into a software application and the NightWare server. Throughout the night, Apple Watch sensors monitor body movement and heart rate during sleep. These data are sent to the NightWare server and, using a proprietary algorithm, the device creates a unique sleep profile for the patient. When NightWare detects that a patient is experiencing a nightmare based on its analysis of heart rate and body movement, the device provides vibrations through the Apple Watch while the product is in use. NightWare is available by prescription only and is intended for home use.” Site

Let’s call that E&O Mondays Issue 057. 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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