7.19.21
5 min. read

10 secret health tech funding deals. Puzzle, trivia answers

Issue 034
Digital health research from Brian Dolan

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.

 E&O Mondays.

In this issue:

  • Ten under-the-radar or not-yet-reported health tech funding deals.
  • The long-awaited answer to last week’s Health Tech Rebus Puzzle along with the answer to last week’s bonus trivia question…
  • But wait: Are you ready? If this was forwarded your way, why not sign up as a paying subscriber to E&O by clicking right here…

Ten secret (or under-reported) health tech funding deals from the past week

Instead of rehashing the dozens of funding deals you’ve already read elsewhere, I focused this week on a number of deals that you likely have not yet read about. (These are all first in E&O — as far as I can Google.)

$87.6 million – Eight Sleep – The DTC sleep fitness startup, which apparently once went by the name Morphy, did announce a long list of new investors last month as part of a strategic round of funding, but — as far as I can tell — they never disclosed the dollar amount raised. According to a recent SEC filing, Eight Sleep raised $87.6 million. Its last disclosed raise was a $40 million one back in 2019.

“Eight Sleep is a sleep fitness company whose … technology regulates temperature and analyzes heart respiratory rates, movement, and sleep phases to monitor sleep quality. That data is sent to the company’s app, which analyzes the information and then offers suggestions to improve a user’s sleep fitness.” Site

$3.5 million in options, warrants, and other securities – Capital Rx – The company recently raised $50 million in February, but it also just filed this $3.5 million in options or warrants. Here’s what they do:

“Capital Rx’s enterprise pharmacy platform, JUDI, digitally links providers, patients, pharmacies, and plans… By establishing a competitive marketplace through its Clearinghouse Model, Capital Rx unlocks the pharmacy supply chain to ensure patients receive seamless access to medication at the lowest price.”

$3 million in debt – Yes Health, which raised a $6 million Series A back in the spring of 2020, raised $3 million in debt, according to a recent filing. The company self-drescribes as a “fully CDC-recognized, all-mobile diabetes prevention program with in-the-moment coaching.” Site

$2.3 million in equity and other securities – Wellview – Here’s what this Tennessee-based startup does:

“Wellview is a digital health and virtual care company delivering preventive and chronic condition management care based on consumer behaviors. Wellview’s proprietary, consumer-centric technology application captures data and builds a member’s Care Profile used to drive industry-leading engagement with Wellview’s Care Team, a network of integrated clinical and behavioral health experts.” Site

$2 million – Best Shot Care AKA Fertility Rescripted – The security filing describes the raise as equity but it also includes the conversion of outstanding indebtedness. Here’s what Best Shot Care offers fertility patients and their care teams: “A patient engagement app, clinic dashboard and supportive micro-communities led by experts.” Site

$450,000 – CareTeam is a direct primary care provider that powers on-site clinics and virtual services for employers. It offers: “primary & urgent care services, pharmacy & lab services, chronic disease management, [and] health & wellness coaching.” Site

$305,000 in debt, options, and other securities – Rimidi is a remote monitoring focused digital health company:

“Rimidi enables clinicians to remotely monitor their patients’ blood pressure, blood glucose levels, weight and more, and virtually send encouragement or treatment adjustments when necessary.” Site

$300,000 in debt and other options – Medaica is a quiet startup that has a placeholder page for a website right now. They appear to be focused on connected medical devices and will probably try to build on the current video visit-powered telemedicine model today with things like digital stethoscopes, for example. Unclear if they are selling kits with digital medical devices made by others or if they aim to manufacture the devices themselves. Site

$260,000 in equity and simple agreements for future equity – Thrive365 is focused on nutrition and diabetes:

“Thrive365 is … [a] patented nutritional meal scoring platform proven to benefit individuals living with Type 2 Diabetes and Pre-Diabetes. Our proprietary platform combines the best of nutritional science, world-class technologies and Win the Day health coaching.” Site

$250,000 in other securities – Healthrageous – Healthrageous, one of the original employer-focused digital health companies is back? Sort of. After Humana acquired its assets in 2013, I thought that was the last we’d hear about Healthrageous, but its former CEO Rick Lee has apparently resurrected the brand as a health-focused meal delivery company. The company may have a broader focus on non-medical care as a recent trademark filing indicates:

“Virtual and in-home support services, namely, health and care management services in the nature of the coordination of necessary services and personal care for non-medical virtual, in person, and in-home personal care services for assisting with daily living activities.”

Health Tech Rebus Answer (Trivia answer too)

Here’s the answer to last Monday’s Health Tech Rebus issue:

“We do not have any competitors”

Many E&O readers admitted they, indeed, have uttered this phrase out loud. Next time someone asks, I’m going to try it out too.

Surprisingly, no one got the bonus trivia question, which was: The CEO of which digital health company was on the team that discovered the Higgs boson particle (the “God Particle) back in 2012? 

The answer: Natural Cycles.

Its CEO and Co-founder Elina Berglund explains the connection in her Linkedin profile: “Elina Berglund is the CEO and co-founder of Natural Cycles – the world’s first, and only, app to be certified as a contraception both in Europe and in the US. She was part of the team that discovered the Higgs boson at the CERN, which led to the Nobel Prize in physics in 2013. Following this success, Elina was looking for an effective natural contraceptive and applied her skills from particle physics to create an algorithm that could accurately pinpoint when a woman is fertile. Elina’s mission is to pioneer women’s health with research and passion – by empowering every woman with the knowledge she needs to be in charge of her health.”

Once again… ICYMI: Last week’s puzzle, hint, (along with directions for how to play) are all included below:

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: This is what some entrepreneurs tell journalists in response to a common interview question.

That’s a wrap on E&O Mondays 034.
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7.16.21
7 min. read

CMS proposes remote therapeutic monitoring reimbursement

Issue 110
Digital health research from Brian Dolan

Welcome back to E&O Fridays, a paying subscribers-only weekly newsletter focused on the world of digital pharma products and FDA-regulated digital health.

 E&O Fridays.

Here's what's happening

Paying Subscribers Only

It's a good one, too.
This digital health research is for paying Exits & Outcomes subscribers only. Subscribe now to read this article, get the weekly newsletter, and receive unrestricted access to past and future research from the Exits & Outcomes archives. Smash the link above or below to subscribe yourself -- or head over to our pricing page to subscribe your team or your whole company!
×
7.14.21
5 min. read

Disney’s digital health stack. TN’s digital therapy RFI

Issue 017
Digital health research from Brian Dolan

Welcome back to E&O Wednesdays, the enrollment-focused digital health newsletter from Exits & Outcomes -- for paying subscribers only. This every-other-Wednesday issue digs into digital health

Paying Subscribers Only

It's a good one, too.
This digital health research is for paying Exits & Outcomes subscribers only. Subscribe now to read this article, get the weekly newsletter, and receive unrestricted access to past and future research from the Exits & Outcomes archives. Smash the link above or below to subscribe yourself -- or head over to our pricing page to subscribe your team or your whole company!
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7.12.21
5 min. read

Stealth health tech funding. New Puzzle and Trivia.

Issue 033
Digital health research from Brian Dolan

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.

 E&O Mondays.

In this issue:

  • Seven under-the-radar or not-yet-reported health tech funding deals.
  • And a new Health Tech Rebus Puzzle…
  • No time like the present: Consider becoming a fully-fledged, paying subscriber to E&O by clicking right here…

Two things to chew on:

  • Apparently, on New Year’s Eve day, HHS posted a web page entitled: “HIPPA Violation File a Complaint” with the URL to match. This typo might just be a savvy SEO tactic? But at what cost?
  • The state of Kentucky recently updated some of its laws related to telehealth and digital health, which, of course, meant the legislature needed to define those terms. (This is pretty much the only time a definition for industry jargon really matters.) The exclusion criteria they adopted is rather rough for digital health companies that rely on text or chat-based care. It sort of reminds me of the old exclusions for asynchronous telehealth, which Kentucky makes clear in these updates is included. But chat-based care… well, read it: “The definition of ‘telehealth’ or ‘digital health’ specifically excludes e-mail, text, chat or facsimile unless a state agency, through the promulgation of an administrative regulation, determines that health care services can be delivered through these modalities in ways that enhance the health and well-being of the recipient and meet all clinical and technology guidelines for recipient safety and appropriate delivery of services; and Basic communication between a health care provider and a patient such as appointment scheduling, appointment reminders, and voicemail.”

 

Seven secret (or under-reported) health tech funding deals from the past two weeks

Instead of rehashing the dozens of funding deals you’ve already read elsewhere, I focused this week on half a baker’s dozen that you likely have not yet read about (Most of these are in E&O first, but two did already get a mention in local business journals.)

$7.3 million – Evry Health – A health insurance company backed by Y Combinator. In a recent job ad the company revealed a little bit more about its ambitions: “Evry Health is a startup technology company and health insurer, backed by Y Combinator and several Silicon Valley venture capital funds. We build better health insurance for mid-size businesses and their employees, that costs up to 20% less. The company headquarters are in Dallas, TX, USA.” Site

$5.1 million in debt and other securities – Season – This is an interesting one that is still quiet. Season’s CEO Josh Hix (founder of food delivery company Plated) was a guest on a16z’s podcast in November and its CTO had a brief stint at Redesign Health. One of Season’s board members is at LRVHealth. I’d guess most or all of those investors are backing this startup? Here’s what they do: “We’re building the world’s first Digital Food Farmacy to reverse chronic disease and reduce the total cost of care. Season integrates technology with expert nutrition guidance to serve up recipes and meals that help fight chronic disease and improve health to make the most out of mealtime every day. Season doesn’t just provide thousands of options, but food the entire household will actually love!” Site

$4 million – Huxley Medical – This wearable medical device-maker is keeping pretty quiet. Its website is just a logo as of this writing, but a grant for an SBIR project sheds some light on what it is working on: “The proposed SBR Phase I project will advance the development of a sensor platform for a wireless device to diagnose obstructive sleep apnea. The project will explore the feasibility of new sensing modalities to provide sufficient diagnostic information with a single wireless patch. The innovation stems from: (1) use of novel cardiorespiratory sensing modalities and machine learning to determine respiratory events and arousals from disordered breathing, and (2) integration of multiple sensing modalities into a chest-worn patch to provide a complete assessment of sleep apnea severity according to established clinical guidelines.” SBIR Project Page

$1.1 million in debt (convertible promissory notes) – SkinIO initially developed mole checkers and monitoring software that aims to prevent skin cancer, but in April 2020 — during the pandemic — the company extended its business into virtual care: “SkinIO Teledermatology turned to its history in mole-mapping and total body photography to design an app that guides patients to take the best possible photos that provide both standardized and contextual images for dermatologists to review.” Site

$1.5 million – TeleVet, formerly known as Horse Facts Inc., offers a virtual care platform that connects veterinarians to their existing clients. Here’s how the company pitches themselves: “all-in-one platform that streamlines your scheduling, communication, and payments, so you and your team can stay focused on doing the work you love.” Site

$750,000 – HealthJay – “A software company that offers seniors, caregivers, and family and friends an ecosystem of care products including JayPad (tablet and tablet app), JayWatch (smart-watch and smart-watch app), JayMobile (cell phone app) and FlightDeck (web admin portal). These products are designed with easy-to-use features for seniors living in communities as well as those staying at home.” Site

$260,000 in debt and other securities – EqualityMD reminds me a little bit of Folx Health: “EqualityMD will connect you to inclusive healthcare professionals on any device, from anywhere, at any time. You’ll be able to receive medical advice from LGBTQ+ culturally competent providers, fill prescriptions, discover alternative treatments and find solutions that are tailored to your specific needs. You’ll also be able to connect with other patients to create virtual community centers where you can privately discuss anything you like… from health and general wellness topics to community and lifestyle matters.” Site

Health Tech Rebus Puzzle (plus bonus Trivia)

In the last E&O Mondays issue, I failed to reveal the previous week’s puzzle answer (even though I listed out a few winners.) For those of you who got stuck on it, the answer was:

“Someday we will just call it health.”

There’s a new Rebus puzzle below.

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: This is what some entrepreneurs tell journalists in response to a common interview question.

Hit reply if you figure it out… BONUS: I learned a fun bit of trivia in recent weeks while tracking down a curious FDA clearance for E&O’s paying subscribers. Trivia Question: The CEO of which digital health company was on the team that discovered the Higgs boson particle (the “God Particle) back in 2012?

That’s a wrap on E&O Mondays 033.
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7.09.21
5 min. read

Noom IPO? Updates on CPT codes, DiGAs, Trials

Issue 109
Digital health research from Brian Dolan

Welcome back to E&O Fridays, a paying subscribers-only weekly newsletter focused on the world of digital pharma products and FDA-regulated digital health.

 E&O Fridays.

It's a bit of a slow week

Paying Subscribers Only

It's a good one, too.
This digital health research is for paying Exits & Outcomes subscribers only. Subscribe now to read this article, get the weekly newsletter, and receive unrestricted access to past and future research from the Exits & Outcomes archives. Smash the link above or below to subscribe yourself -- or head over to our pricing page to subscribe your team or your whole company!
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7.02.21
6 min. read

FDA OKs wearable birth control? Two new DiGAs. Trials.

Issue 108
Digital health research from Brian Dolan

Welcome back to E&O Fridays, a paying subscribers-only weekly newsletter focused on the world of digital pharma products and FDA-regulated digital health.

 E&O Fridays.

OK, here's what's happening

Paying Subscribers Only

It's a good one, too.
This digital health research is for paying Exits & Outcomes subscribers only. Subscribe now to read this article, get the weekly newsletter, and receive unrestricted access to past and future research from the Exits & Outcomes archives. Smash the link above or below to subscribe yourself -- or head over to our pricing page to subscribe your team or your whole company!
×
6.30.21
7 min. read

Cigna-Omada pricing. AT&T’s digital health stack

Issue 016
Digital health research from Brian Dolan

Welcome back to E&O Wednesdays, the enrollment-focused digital health newsletter from Exits & Outcomes -- for paying subscribers only. This every-other-Wednesday issue digs into digital health

Paying Subscribers Only

It's a good one, too.
This digital health research is for paying Exits & Outcomes subscribers only. Subscribe now to read this article, get the weekly newsletter, and receive unrestricted access to past and future research from the Exits & Outcomes archives. Smash the link above or below to subscribe yourself -- or head over to our pricing page to subscribe your team or your whole company!
×
6.28.21
7 min. read

Happy as a TAM. Puzzle answer.

Issue 032
Digital health research from Brian Dolan

Welcome back to E&O Mondays, the free newsletter from Exits & Outcomes that features health tech puzzles and trivia, (sometimes) funding, paid content teasers and other digital health odds and ends.

 E&O Mondays.

In this issue:

  • Heads up: The first post below is for your friends. Could you please forward this issue to one person who would benefit from a paid subscription to E&O? (It’s also a handy set of links to click through if you are a newer paying subscriber…)
  • Then a round-up of 10 digital health companies’ TAM (total addressable market) estimates.
  • And finally: The long-awaited answer to last week’s Health Tech Puzzle along with the names of a few E&O subscribers who got it right…
  • More on this in a minute, but consider becoming a full-fledged, paying subscriber to E&O by clicking right here…

Here’s what paid subscribers to E&O are reading

Here’s a small tasting menu of a few things that E&O’s paying subscribers have read in recent months.

Big employer digital health benefits stacks: Digital health companies love to boast how many Fortune 500 customers they have. Every other Wednesday, E&O digs into a different Fortune 500’s employee benefits to see which digital health companies it works with. So far, in past Wednesdays issues, I’ve written about the digital health benefits stacks of 15 big companies: WalmartActivision BlizzardJP Morgan ChaseThe Home DepotBoeing3MChevronBorgWarnerBank of AmericaUnitedHealth GroupCostcoeBayMcKesson, and Ford. Most recently I wrote about Dell.

Pear SPAC analysis: Last week news broke that prescription digital therapeutics company Pear Therapeutics would go public via SPAC merger. Pear’s a company E&O has tracked closely since 2019. One of my first long-form research reports dug into Pear’s first six years — including its ill-fated (and underreported) attempt to develop a line of DTC digital nutriceuticals with The Vitamin Shoppe. E&O’s analysis of Pear’s SPAC is different from what you’ve read elsewhere — full of scoops and exclusive analysis.

E&O’s 5,800-word Crossover Health report: This long-form research report dug into primary care provider startup Crossover, which counts many big employers as customers. Its first customer was Apple. Could its last be Amazon? Amazon is currently weighing whether it should expand its partnership with Crossover while it is — at the same time — building its own nationwide primary care network. If Amazon doesn’t snap it up, Crossover Health would likely IPO, but how would an Amazon defection look on its books? There’s no denying that Crossover is at a crossroads. This report gets you caught up.

Virta Health pricing and guarantees: Earlier this month I came across a 2021 contract between an employer and Accolade for three of Virta Health’s programs: diabetes reversal, diabetes management, and obesity management. In Issue 014 of E&O Wednesdays, I broke down the parts that I found most interesting: The prices and the three performance-based money-back guarantees.

Price tag for Bright Health’s acquisition of Zipnosis: This one was funny. I dug up some info that pointed me toward the acquisition price of the Bright Health-Zipnosis deal. My estimate ended up at $49 million. To my great surprise, a few hours after I published that number in Issue 013 of E&O Wednesdays, Bright Health filed its S-1 and included more details on the transaction. All in it was a $51 million deal: “…on March 31, 2021, we acquired Zipnosis, Inc., which is a telehealth platform that offers virtual care to health systems around the U.S., for aggregate consideration of $51.4 million, including $33.0 million in Series E preferred stock, or $48.2 million net of cash acquired.”

Secret pandemic launches for pre-FDA digital therapeutics: In Issue 048 of E&O Fridays, I dug into the risks and opportunities of launching an FDA-regulated digital therapeutic pre-FDA clearance via the agency’s waiver for psychiatric digital health devices. While a few companies announced launches under the waiver, a handful of DTx went to market under this enforcement discretion policy very quietly. I tracked down two such launches in Issue 090 and Issue 104 of Fridays.

Salaries of 76 health tech executives: In Issue 099 of E&O Fridays I put together a database of some of the top paid executives in digital health. Since there are so many digital health companies going public, there’s a significant uptick in transparency around executive compensation. From the article:

“Surprisingly, the top paid health tech CEO was not One Medical’s Amir Dan Rubin, even though he pulled in just under $200 million in 2020. GoodRx’s co-CEOs Douglas Hirsch and Trevor Bezdek each made about $265.7 million in 2020. The health tech CEO with the lowest total compensation package for 2020 was 23andMe CEO Anne Wojcicki. She made just under $51,000 last year.”

So, that’s a quick rundown of a few E&O reports from recent months. Click here for full access to E&O’s long-form research reports, paid newsletter archive, and growing library of mini-databases. Or here. Here works too.

Trillions and billions: 10 digital health TAMs

Since there are so many companies going public via SPAC and IPO lately, there’s been an uptick in the number of total addressable market (TAM) estimates floating around. Some of the numbers these companies pick are amusing, but some might be helpful. Here are 10 digital health-related TAM figures from publicly-listed (or soon to be) digital health companies:

$1.265 trillion – 23andMe One of Sir Richard Branson’s SPACs helped take 23andMe public this month. The company sees its TAM as the combination of three massive markets: US telehealth ($250 billion), global prescription drugs ($825 billion), and pharma R&D ($190 billion). More on Page 45 of this presentation.

$573 billion – Oscar Health – In March 2021, Oscar Health’s investor prospectus broke down the various TAM estimates relevant to its business: “We currently sell health plans in three markets—Individual, Small Group, and Medicare Advantage—which, in aggregate, serve more than an estimated 50 million Americans and represent an estimated $450 billion in direct policy premiums.” Plus it sees additional opportunities to expand its TAM via these focus areas: “$40 billion in telemedicine, $20 billion in care concierge, $12 billion in claims management, and $51 billion in population health.” More on Page 4 of this prospectus.

$480 billion – Talkspace In 2019, Talkspace wrote that its “Large and Growing Addressable Market” was behavioral health. “More than 70 million Americans suffer from mental illness, spread across all ethnic, socio-economic and age ranges. 17 million adults in the United States have had at least one major depressive episode in the past year. The annual suicide rate in the United States has increased by 30% since 2001. $4.6 billion is spent annually in the United States on unnecessary emergency room visits for mental illness.” Talkspace’s SPAC sponsor “believes the true global total addressable market will increase from approximately $480 billion in 2019 to approximately $588 billion in 2025.” For more head to Page 134 of this filing.

$350 billion – Hims & Hers In its investor presentation, Hims included TAM estimates for the 18-40-year-old market, which it described as its TAM opportunity today. But it also included its growing and cumulative TAM for once it expands into the 40-60-year-old patient population ($400 billion) and then into the 60+ market ($500 billion). More on Page 25 of this presentation.

$270 billion – Clover Health In 2019, Clover claimed its TAM was the overall Medicare Advantage market, which it dubbed “the largest, undisrupted market in healthcare.” Clover foresees Medicare Advantage hitting $590 billion in TAM by 2025, which is when the wider Medicare TAM opportunity hits $1.25 trillion. More on Page 5 in this deck.

$250 billion – Pear Therapeutics In its recent presentation to investors in its SPAC merger, the digital therapeutics company shared estimates for its current serviceable market with its three commercialized DTx ($2 billion), the TAM for its DTx distribution platform ambitions ($15 billion), and its overall TAM for prescription digital therapeutics in the US ($250 billion). Read more on Page 35 here.

$80 billion – One Medical In its investor prospectus, One Medical provided a handful of TAM estimates but it seems to see $80 billion as its immediate TAM: “The U.S. primary care market is estimated to be approximately $260 billion in 2021, including approximately $170 billion for the commercially insured population. We estimate that the 13 markets in which we are physically present represent approximately $38 billion in primary care spend within the commercially insured population under age 65. While our members can access our digital services nationally, we believe we can expand our physical presence across the United States. The 50 largest metropolitan statistical areas in the U.S. represent an estimated market opportunity of approximately $80 billion within the commercially insured population under age 65.” More on Page 1 here.

$60 billion – Science 37 describes its TAM as a “Large Market Opportunity” but goes with the alternative wording for TAM: “Total Available Market”. The company first notes that the annual R&D spend across global pharma is forecasted to hit $195 billion in 2021. The company claims its 2021F Serviceable Available Market is $60 billion. That’s a mix of CRO (50 percent), recruitment and e-clinical (33 percent), and home health (17 percent). More on Page 31 of the company’s deck.

$40 billion – Better Therapeutics In its presentation to investors ahead of its SPAC merger, Better Therapeutics pointed to the annual drug spend on diabetes as its “immediate total addressable market.” By 2030 that spend will top out at $105 billion, according to Better, but if its first digital therapeutic BT-001 receives market authorization that spend will only be $93 billion in 2030. More on page 26 of this deck.

$18.5 billion – Doximity The recently IPO’d physician platform company posted one of the smalled TAM estimates in digital health. “We believe our market opportunity is substantial and growing. We estimate our current total addressable market to be approximately $18.5 billion across our platform solutions today. This comprises a $7.3 billion opportunity in U.S. pharmaceutical marketing to medical professionals, a $6.9 billion opportunity in U.S. health system marketing and staffing, and a $4.3 billion opportunity in U.S. software telehealth.” More on Page 4 here.

Health Tech Rebus Puzzle Answer

Last week E&O offered up another health tech-themed Rebus puzzle (included it at the bottom of today’s newsletter too ICYMI). Once again, it was a hit and I can’t mention everyone who got it right. Here are a few of the quick-witted E&O subscribers who solved it:

  • Harsh Vathsangam, CEO, MovingAnalytics
  • Alyssa Alsheimer, VP of Marketing, Wellframe
  • Daniel Peaceman, Senior Digital Analyst, Medullan
  • Alyssa Dietz, PhD, Director, Strategic Planning & Operations Digital Therapeutics, Happify Health

ICYMI: 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: If you have ever attended a keynote presentation by a digital health visionary, then you have heard a human being say this sentence out loud.

See last week’s puzzle below if you missed out and want to give it a go… new one coming in two weeks!

That’s a wrap on E&O Mondays 032.
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6.25.21
7 min. read

Analysis: Pear Therapeutics’ SPAC merger

Issue 107
Digital health research from Brian Dolan

Welcome back to E&O Fridays, a paying subscribers-only weekly newsletter focused on the world of digital pharma products and FDA-regulated digital health.

 E&O Fridays.

OK, here's what's happening

Paying Subscribers Only

It's a good one, too.
This digital health research is for paying Exits & Outcomes subscribers only. Subscribe now to read this article, get the weekly newsletter, and receive unrestricted access to past and future research from the Exits & Outcomes archives. Smash the link above or below to subscribe yourself -- or head over to our pricing page to subscribe your team or your whole company!
×
6.21.21
5 min. read

$1.1B in funding. New health tech puzzle

Issue 031
Digital health research from Brian Dolan

Welcome back to E&O Mondays, the free newsletter from Exits & Outcomes that features the world’s most complete weekly health tech funding round-up.

 E&O Mondays.

In this issue:

  • A rundown of the past two weeks in health tech funding, which added up to more than $1.1 billion.
  • Then: A new health tech-themed Rebus puzzle. (Hit reply with the answer if you get it.)
  • But wait: If you’re new to E&O Mondays, this free newsletter isn’t much like the ones I send Fridays and every other Wednesday (or the long-form research reports). Yea, yea, it’s great and all, but you’re really missing out if you only read this funding list each week. So, consider becoming a full-fledged subscriber of E&O by clicking right here…

 

Two weeks: $1.1B billion in health tech funding.

Here’s what I found for health tech funding these past two weeks: More than $1.1 billion. If you see a * in front of the funding news below, that means E&O reported first. (It also means the company may end up announcing a larger amount of money once the round closes and the funding is official.)

As always, I simplified this list to remove those off funding verbs you see in other write-ups. (“Company X grabbed [why not ‘earned’?] $5 million in funding.”) If you’re missing the full sentence structure, however, please assume that most of these companies “scooped up” their latest round of funding, (but also know that I believe one of them “cobbled together” their funding).

For the most part, I used the companies’ own descriptions from their press releases or About pages instead of trying to deciphering what they do myself.

$200 million – Lyra Health – Series F – Led by Coatue Management – provider of comprehensive mental health care benefits for employers Site

$160 million – Monogram Health – Series B – Led by TPG Capital – benefit management and care delivery company focused on individuals with chronic kidney and end-stage renal disease Release

$150 million – LetsGetChecked – Series D – Led by Casdin Capital – virtual care company providing telehealth services, pharmacy, and at-home diagnostics Release

$127 million – Cerebral – Series B – Led by Access Industries – Online provider visits, care counseling, and prescriptions for anxiety and depression Release

$72 million – Brightline – Series B – Led by GV – comprehensive virtual behavioral health solution designed specifically to support children, teenagers, and their families Release

$60 million – Betterfly – Series B – No lead – Latin America-focused insurance company focused on members’ mental, physical and financial well-being Release

$58 million – Transcarent – Series B – Led by General Catalyst and 7wireVentures – consumer-directed health and care platform for employees at self-insured employers Release

* $56 million – Stellar Health – helps payors engage and incentivize providers and practice staff in value-based arrangements Site

$41.9 million – The Pill Club – Series B extension – Led by Base 10 – birth control provider via text or telemedicine Release

$34 million – Zus Health – Series A – Led by a16z – Jonathan Bush-led shared health tech development platform backed by a shared data record Release

$30 million – Stork Club – Series A – Led by General Catalyst – “extend traditional employee benefits to include historically overlooked, yet critical components of maternal health” Release

$21 million – Protenus – Series D – No lead – uses artificial intelligence to reduce risk and save resources for health systems Release

* $20.1 million – Bicycle Health – Series A – This one is mentioned on Pitchbook too but no announcement or other press reports as far as I could tell – Looks like they are going for a $27 million round – “Evidence-based, online treatment for opioid addiction” Site

$20 million – Hawthorne Effect – Series A – Led by Northpond Ventures – tech platform for decentralized clinical trials Release

* $20 million – Pager – This one is still unannounced and the company looks to be aiming for a $50 million round – “helps consumers navigate their entire care journey, connecting them to the right care, in the right place, at the right time — like having a doctor in your family” Site

$20 million – Liteboxer – Series A – Led by Nimble Ventures – at-home fitness company that combines hardware, game dynamics, hit music, and expert training to create immersive workouts Release

$18 million – Mendel – Series A – Led by DCM – clinical AI platform that understands the unstructured, natural language content within medical documents Release

$15 million – Sempre Health – Series B – Led by Blue Venture Fund – “works with leading health plans and pharmaceutical companies to reduce out-of-pocket costs for patients who refill their prescriptions on time” Release

$15 million – Faro Health – Series A – Led by Section 52 – cloud-computing company that simplifies the design and authoring of complex clinical studies for biopharma and medical device customers Release

$12 million – Form Health – Series A – Led by M13 – obesity-focused telemedicine provider Release

$10 million – Ride Health – Led by Topmark Partners – provider of smarter transportation for every patient need Release

$10 million – Rise Science – Series A – Led by Goodwater Capital – “…shows you the peaks and valleys of your energy levels throughout the day, as well as how to improve sleeping habits to boost energy” Crunchbase

$6 million – DUOS – Seed – Led by Redesign Health – provides a personal assistant for aging — a Duo — to help older adults stay healthy and age independently in their own homes Release

$4.6 million – BEKHealth – Led by Excelerate Health Ventures – clinical research software platform Release

$4.2 million – Nirvana Health – “…streamlines the day-to-day business functions of practice management for therapists” VentureBeat

$3.1 million – Uplift – Seed – Led by Redesign Health – “…bridge between patient, provider and insurer, guiding patients to find the best therapist for their needs at a price they can afford and enabling both virtual and in-person visits” FierceHealthcare

$3 million – BASMA – Series A – Led by MEVP – digital healthcare platform working on redefining the orthodontics support experience Release

$3 million – Opya – integrated autism care that includes in-person and telemedicine Site

$3 million – Framework – Seed – Led by True Ventures – platform designed to help health and wellness businesses create branded virtual wellness programs Release

* $2.5 million – Aveta [dot] Life – Aveta [dot] Life offers a rapid diagnostic kit, Hormonometer, and personalized digital health platform Site

* $2.5 million – Mon Ami – Probably the start of its Series A (hoping for $4.9 million) – health tech company focused on social isolation in aging Site

$2.5 million – Allara – Seed – Led by Global Founders Capital – virtual care provider focused on polycystic ovary syndrome (PCOS) TechCrunch

$2 million – Ksana Health – Seed – Led by re.Mind Capital – “digitally transforms the practice of behavioral healthcare by converting the quantifiable behavioral patterns that are continuously and passively collected by smartphones into actionable and objective insights for practitioners and their patients” Site

* $2 million – WellBrain – digital chronic pain management and addiction prevention platform Site

Undisclosed – Eight Sleep – “leverages thermoregulation, data, and technology to design products to restore individuals to their peak energy levels every morning” Release

Health Tech Rebus Puzzle

OK, we are back with a new health tech puzzle.

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: If you have ever attended a keynote presentation by a digital health visionary, then you have heard a human being say this sentence out loud.

Hit reply if you get it… 

That’s a wrap on E&O Mondays 031.
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