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8 secret health tech investments

Issue 054

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 8 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…

8 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…

First-up, financing for an acquisition: $9 million in equity – SimpleTherapy – The MSK-focused virtual care company raised a little more than $9 million in equity to finance an as-yet, unannounced acquisition. “Offers video-based, head-to-toe exercise therapy programs that target the joint, muscle, tendon, and/or ligament that are causing you distress.” Site

$36 million – Bicycle Health – The company seems to be aiming for a $50 million Series B after last summer’s $27 million A round. “Bicycle Health started out with a single clinic in Redwood City, California, but it became clear that we could reach even more people if our services were available online. Thus, Bicycle Health launched its virtual care platform in 2020, which provides empathetic, affordable, person-to-person care at scale, including medication management, behavioral health treatment, support groups, and care coordination, supporting patients wherever they’re at in their recovery journey.” Site

$3.5 million – Smartcare Software – “Smartcare uses technology to organize, optimize, and drive homecare best practice processes for providing healthcare within the home while saving time and improving profitability and client/patient outcomes. The system is a fully integrated caregiver, financial, and business intelligence solution that provides tools to help manage patient care, compliance and manage a home agency by streamlining workflow, scheduling, billing at point of care.” Site

$3.5 million – Impiricus – This company describes itself as a free personal assistant for doctors. “Impiricus uses artificial intelligence and a live team to help automate tasks and access resources for your practice. Access premium support for patient assistance programs, new therapy education, exclusive samples and more.” Site

$2 million in debt, equity, and other securities – Ursa Health – “Providers, payers, employers, and the companies that partner with them use our fully no-code adaptive analytics platform to extract insights from any data source, unify data and business teams, and propel enterprise ventures and programs to success.” Site

$971,000 in options and other securities – Outpatient – This company has a contract with the US Air Force. “Outpatient is a digital health, medical task and care coordination tool for patients, their families, medical providers, health systems and military medical services.” Site

$845,000 via a SAFE – KeborMed – “KeborMed’s Connected Care PaaS is the first complete IoT platform built specifically for the healthcare industry, transforming any medical hardware manufacturer into an integrated solution provider. The USP of the KeborMed platform is its ability to dramatically reduce the cost and time it currently takes to add and support cloud connectivity to any new or existing non-connected medical device (up to 90% in initial development cost, up to 80% in time-to-market and up to 90% in on-going technical support cost).” Site

$610,000 million in equity (and SAFEs) – Telebelly Health – Here’s an interesting one: Telebelly is led by Hill-Rom’s former VP and GM for Canada Sheri Rudberg and co-CEO Dr. Russ Arajal. Trey Lauderdale, the founder and CEO of Voalte, which Hill-Rom acquired, is on the company’s board. “Telebelly offers access to personalized treatment plans that can bring comfort back to your life. Meet with your digestive health specialist via a video call and get a personalized plan designed to address the root cause of your uncomfortable symptoms.” Site

Let’s call that E&O Mondays Issue 054. 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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