4.09.21
7 min. read

Tullman out at Teladoc. Rx digital therapeutics SPAC.

Issue 096

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

Paying Subscribers Only

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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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4.07.21
9 min. read

Puzzling lawsuit. Costco’s digital health stack.

Issue 011

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

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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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4.05.21
4 min. read

About $600M in health tech funding. Trivia answer.

Issue 022

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:

  • After weeks of $1 billion round-ups, I’m not sure we even cracked $600 million last week.
  • There are also a few answers to last week’s trivia question along with the very smart readers who got it right.
  • Finally, if you’re new to E&O Mondays, this free newsletter isn’t much like the ones I send out 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…

This week’s health tech funding deals

OK, here’s what I found for the past week (a * means you are reading it first in E&O):

* Here’s an interesting SEC filing to kick this issue off: Hinge Health filed for a $9.6 million equity raise on April Fool’s Day. Bit odd for a company that just raised $300 million in January, right? The filing has a box ticked that this transaction is in connection to an acquisition, which suggests that $9.6 million in stock may have been part of the Hinge-Enso acquisition from a few weeks back. (The deal may have been bigger than that figure as it could have included cash and earn outs, of course.)

The Founder and CEO of Teladoc, Michael Gorton, who led the company from 2002 until 2010, is back with a roll-up play called Recuro Health. The company announced an undisclosed amount of funding last week led by OLSF Ventures.

Friday Health Plans, a Colorado-based health insurance startup, has raised $160 million. Here’s how that figure breaks down: $100 million from PE firm Vestar Capital Partners along with $60 million in debt financing from London’s Leadenhall Capital Partners. “Friday will leverage the additional funds to expand into new markets with a focus on technology-driven individual and small-group health insurance.”

BrightInsight, which has built a regulated digital health platform for biopharma and medtech companies, raised a $101 million Series C led by General Catalyst. Insight Partners, New Leaf Venture Partners, and Eclipse Ventures also contributed. BrightInsight has now raised $166 million in total.

Rightway, which offers care navigation and pharmacy benefits services to employers, raised a $100 million Series C led by Khosla Ventures, with a little help from Thrive Capital and (the prolific) Tiger Global Management.

Cleo, which offers employers a range of family benefits, raised a $40 million Series C led by Transformation Capital. Glynn Capital, PruVen Capital, Gaingels also joined the round as new investors. Cleo has now raised $83 million.

Augmedics, an augmented reality surgical image guidance company, raised a $36 million Series C Eight months ago it raised its $21 million Series B. Its total funding now stands at $63 million.

A British Ro and Hims competitor, Manual, which also offers tele-consults and prescriptions for men’s health and wellness, raised a $30 million Series A from US-based Sonoma Brands and Waldencast. TechCrunch

SteadyMD, a DTC primary care telehealth company, raised a $25 million Series B led by Lux Capital. Sound Ventures and Acrew Capital also contributed. Notably, Anne Wojcicki, the co-founder of 23andMe (which just SPAC’d itself onto the public markets) also invested in the Series B. 23andMe has pointed to virtual care as a key growth driver for the business as part of its pitch to Wall Street.

CirrusMD, a text-based, on-demand virtual care provider, raised a $20 million in a Series C round of funding led by Blue Venture Fund, with a little help from 7wireVentures, Drive Capital and the Colorado Impact Fund. 7wire is Glen Tullman’s venture fund, and it is worth remembering that his new startup Transcarent will offer text-based virtual care to employers too.

Inbox Health, which helps practices automate and personalize patient communication and bill delivery, raised a $15 million Series A led by Commerce Ventures.

India’s HealthPlix Technologies, an EHR and e-prescribing startup, raised a $13.5 million not-yet-complete Series B. Lightspeed led with help from existing investors JSW Ventures, Kalaari and Chiratae.

* Pyx Health, which aims to reduce loneliness and social isolation via chatbots and real live humans, quietly raised $12 million. Site

Peloton-like startup CLMBR quietly raised $11 million. CLMBR isn’t a bike, it sells a vertical climber that, like Peloton, has “a large-format touch display with on-demand, instructor-led classes.” Site

Chatbots for patient appointment booking and care plans startup Lifelink Systems raised a $9.75 million Series A.

Medxoom raised an $8 million Series A for its white-labeled benefits navigation offering for self-insureds.

* MedZero, a mobile lending service for employees facing out-of-pocket health care costs, quietly raised $5.5 million in a mix of equity, option, and other securities. Site

* Dentulu, an app-based virtual dentist provider, raised $5.5 million via a SAFE. “People can now access oral health care professionals through teledentistry, which incorporates a combination of telecommunication, digital imaging, and video chat.” Site

Germany’s Vantis, a cardiovascular-focused digital therapeutics company, raised a $4.5 million seed round from Firstminute Capital and btov Partners. Its first product, a digital therapeutic for people with coronary artery disease, should launch in Germany this summer.

Mantra Health, a digital mental health clinic that provides services to colleges and universities, added another $2 million.

* Reciprocity Health, a patient engagement company that uses financial incentives, social dynamics and gamification, raised $545,000 in a mix of equity, debt, options, and other securities. Site

* Docovia, which offers a white-labeled virtual visit platform to medical practices, quietly raised $300,000. Site

* Modify Health, a food delivery service and virtual care consultation offering for people with IBS, quietly added another $300,000. Site

Health Tech Trivia Answer

Typically, this is where I’d put the answer to last week’s Health Tech Trivia Question… but I realize this open-ended one has many correct answers. Despite that, very few people got it!

ICYMI – the Question was: We recently learned that Prince Harry, the Duke of Sussex joined mental health and employee productivity startup BetterUp as its Chief Impact Officer. Over the years, a number of musicians, actors, and TV personalities have joined digital health startups as investors, advisors, or at creatively-named C-level positions, like the Duke. Can you name three other such celebrities? (Bonus points if you remember each company’s name too.)

Sample correct answer: One of the correct responses listed out three of Forward Health’s celebrity investors: The Weeknd, Matthew McConaughey, Ashton Kutcher.

Raise a glass to this week’s winners:

  • Amanda DiTrolio, Intelligence Associate, Healthcare, CB Insights (Linkedin)
  • He Wang, Associate, Eight Roads Ventures China (Linkedin)

Until next week…

What did you think of Issue 022 of E&O Mondays?
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4.02.21
6 min. read

Cigna-Akili. 2020 DTx Lobbying.

Issue 095

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

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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3.29.21
5 min. read

$1B across 5 deals plus 20 more. New Trivia.

Issue 020

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:

  • Last week I found well over $1 billion and I hit send right before Ro announced its $500 million round. So, this week I found another $1 billion across five big deals… plus 20 more deals. Read on for this week’s (announced and unannounced) health tech funding deals (equity and debt) from the past week.
  • There’s also a new trivia question this week, which I think was a little too easy.
  • Finally, if you’re new to E&O Mondays, this free newsletter isn’t much like the ones I send out Fridays and every-other-Wednesday (or the long-form research report). 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…

This week’s health tech funding deals

OK, here’s what I found for the past week (a * means you are reading it first in E&O):

* Here’s a small scoop to kick this thing off: Polaris Ventures added Faro Health to its portfolio. Faro builds clinical trial software: “Clinical protocols are scientific decisions wrapped in administrative burden. The Faro system handles the tedious work better left for a computer, freeing clinical researchers to focus on the important decisions that drive clinical value.” Site

As I mentioned above Ro, aka Roman Health Ventures, raised a massive $500 million Series D last Monday. General Catalyst, FirstMark Capital and TQ Ventures led. Ro initially got its start focusing on a specific men’s health issue, but here’s how Ro describes itself now, which should help this email avoid your spam filter: “Ro’s vertically integrated primary care platform powers a personalized, end-to-end healthcare experience from diagnosis, to delivery of medication, to ongoing care. With a nationwide provider network, in-home care API, and proprietary pharmacy distribution centers, Ro seamlessly connects telehealth, diagnostics, and pharmacy services to provide high-quality, affordable healthcare without the need for insurance.”

Cityblock Health raised a $192 million Series C-2 led by Tiger Global. Cityblock is a tech-enabled, “value-based healthcare provider for Medicaid and lower-income Medicare beneficiaries.”

Bit surprised by this one: Crossover Health raised a $168 million Series D led by Deerfield Management Company with a little help from new investors like Perceptive Advisors, OrbiMed Advisors, Foresite Capital, Avidity Partners, SharesPost100 Fund, Irving Investors, and PFM Health Sciences. I figured Crossover would IPO next. Crossover is a “relationship-based, tech-enabled, national healthcare organization that integrates both virtual and in-person care for employers and health plans.”

Ginger, formerly known as Ginger.io, an on-demand, virtual mental health provider, raised a $100 million Series E led by funds managed by Blackstone Growth. The company says it tripled revenue year-over-year.

AKASA, once called Alpha Health, which self-describes as a “Unified Automation company for revenue cycle management in healthcare,” raised a $60 million Series B led by BOND.

AppliedVR, which is developing virtual reality-based digital therapeutics, raised a $29 million Series A from F-Prime Capital, JAZZ Venture Partners, Sway Ventures, GSR Ventures, Magnetic Ventures, and Cedars-Sinai. AppliedVR said it would puruse “full FDA approval over the next year.”

Gravie, a tech-enabled health insurance firm and health insurance marketplace that got its start in 2013, raised $28.6 million led by AXA Venture Partners.

Foodsmart,formerly known as Zipongo, the personalized telenutrition company, raised a $25 million Series C led by Advocate Aurora Enterprises, a new subsidiary of health system Advocate Aurora Health. As I noted in E&O Wednesdays last week, Foodsmart is one of the few outside digital health benefits that UnitedHealth offers its own employees. (The rest are almost entirely in-house ventures from UHG itself.)

Vesta Healthcare, formerly Hometeam Technologies, quietly raised a $20 million round. Vesta describes itself as a “technology and clinical services company, dedicated to connecting caregiver insights to the rest of the care team.”

* ClearDoc quietly raised a $19 million round and added a board member from Five Elms Capital, which suggests that the firm contributed to this recent raise. ClearDoc is taking on WebMD with a Quora-like site where anyone can ask health questions and get them answered by medical professionals. However, its site is down and “under construction” right now, so it may be pivoting?

Considering the current funding trend, Vibrant raised a wildly low Series E of $7.5 million. The company is building an ingestible, smart pill that vibrates to relieve certain GI conditions. An app, of course, can monitor the smart pill and other symptoms. TechCrunch

Bardavon Health Innovations, which calls itself “a proactive Workers’ Compensation digital health partner that connects all stakeholders to better manage claims,” quietly raised $6.7 million in debt, options, and other securities. Site

I had this a few days ago, but it just broke officially that PaceMate, “a digital healthcare company in compliant cardiac data management,” raised an $8 million Series A led by Ballast Point Ventures.

Yet another Peloton competitor has raised funds: Motosumo pulled in $6 million Series A led by Magenta Partners. Motosumo doesn’t sell a bike, its “at-home indoor cycling platform” offers “live, interactive classes from any bike.”

* Biolinq, which is developing a continuous glucose monitoring device, quietly raised $5.2 million in debt. Site

Better Health, an ecommerce site (aka medical supplier) for people with chronic conditions, raised a $3.5 million Seed round and inked deals with Oscar Health and Humana.

Finnish care coordination startup Buddy Healthcare raised $2.4 million to bring its offering to other countries.

Another care coordination-focused company, Preveta, which has an initial focus on oncology, raised a $2 million Seed round led by MaC Venture Capital and TSVC.

* Redirect Health, a health plan that offers virtual visits and 24-hour text concierge services quietly raised $1.4 million in debt and other options. Site

Heard, which builds software for mental health practices that help streamline accounting and related services, raised a $1.3 million Seed round led by Founder’s Co-op.

* Addinex Technologies, which makes a low-tech locking pill dispenser that pairs with a smartphone app, quietly raised $880,000 in a mix of equity and options. Site

* InquisitHealth, which offers a platform to scale peer support to people with chronic conditions, quietly raised $725,000 in debt and other securities. Site

Wellcast (formerly Rational Surgical Solutions), which develops mobile apps to streamline the informed consent process, quietly raised $436,000. Site

Caregiven, which offers a mobile app to caregivers that gives them guidance, structure and support, quietly raised $400,000.

The Virtual Reality Health Institute of Health and Exercise quietly added another $180,000 to its recent $340,000 for its virtual reality-based exercise programs for both kids and adults. Site

Health Tech Trivia Question

Here’s this week’s Health Tech Trivia Question:

Rules: Don’t use Google. Just guess. Hit reply and email me your answer along with if you want me to include your name/company, just your initials, or keep it anonymous. I’ll provide the answer next Monday along with three (3) randomly selected people who got it right (if anyone does). I’m happy to link out to your company’s website too, and that might be worth a lot in SEO mojo someday, who knows?

Question: This week we learned that Prince Harry, the Duke of Sussex joined mental health and employee productivity startup BetterUp as its Chief Impact Officer. Over the years, a number of musicians, actors, and TV personalities have joined digital health startups as investors, advisors, or at creatively-named C-level positions, like the Duke. Can you name three other such celebrities? (Bonus points if you remember each company’s name too.)

Hit reply if you know!

What did you think of Issue 021 of E&O Mondays?
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3.26.21
6 min. read

PWNHealth pricing and estimated revenues. Pharma spin-outs.

Issue 094

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

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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3.24.21
8 min. read

Transcarent biz model. UHG employees’ digital health stack.

Issue 010.

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

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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3.22.21
6 min. read

Another $1B in health tech funding. Trivia answer.

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:

  • Last week I found well over $1 billion over the course of two weeks, and this week I found another $1 billion in one week alone. The investment flowing into health tech right now continues to accelerate. Read on for this week’s (announced and unannounced) health tech funding deals (equity and debt) from the past week.
  • Also: Scroll down for the long-awaited answer to last week’s multiple choice trivia question.

Was this forwarded to you? Why not become a paying subscriber today? Click here before thinking about it too much.

This week’s health tech funding deals

OK, here’s what I found for the past week (a * means you are reading it first in E&O):

Komodo Health raised a $220 million Series E led by Tiger Global Management and joined by Casdin Capital. Existing investors ICONIQ Growth, Andreessen Horowitz, and SVB Capital also joined the round. Komodo is a real-world evidence-focused digital health company that offers a platform called Healthcare Map, which tracks the patient journeys of more than 325 million patients.

Evidation Health raised a $153 million Series E co-led by OMERS Growth Equity and Kaiser Permanente Group Trust. Evidation is using the massive round to continue to build out the virtual care programs it offers via its Achievement platform.

Unite Us raised $150 million in a Series C led by ICONIQ Growth. Unite Us describes its offering as “outcome-focused coordination software securely connecting community-based organizations with health care providers, health plans, state and local governments, and private foundations.” Site

Strive Health, which offers a “combination of high-touch care teams, predictive analytics, advanced technology, seamless integration with local providers, and next-generation dialysis services to form an integrated care delivery system that supports” people with kidney disease, raised a $140 million Series B led by CapitalG, Google parent company Alphabet’s independent growth fund.

Clarify Health, a health analytics company that provides insights into provider performance, patient journeys, and therapy adoption, raised a $115 million Series C led by Insight Partners, Spark Capital, Concord Health Partners and HWVP.

Happify Health raised a $73 million Series D led by Deerfield Management Company with participation from Omega Capital Partners, ION Crossover Partners, and other existing investors. Happify offers digital therapeutics for various chronic conditions that include access to telehealth and AI-powered coaching.

Viz [DOT] ai raised a $71 million Series C led by Scale Venture Partners and Insight Partners. “Viz.ai aims to accelerate [the] expansion of its Intelligent Care Coordination A.I. platform beyond stroke to other areas of acute care such as cardiology, pulmonary and trauma, and into new global markets.”

Bigfoot Biomedical, which develops technologies and programs for people with insulin-requiring diabetes, raised “financing of up to $57 million” from Madryn Asset Management LP.

MedMinder Sytems which describes itself as a “fully-integrated, end-to-end pharmacy, medication adherence and connected care solution for elderly and polypharmacy patients,” raised a $40 million round of funding led by Accelmed Partners with a little help from return backer Arkin Holdings.

Glooko, a remote patient monitoring and chronic care management company focused on diabetes and obesity, raised a $30 million Series D led by Health Catalyst Capital. Existing investors Canaan Partners, Georgian, Novo Nordisk, Insulet, and Mayo Clinic chipped in too.

* E&O broke the news of this financing round back in Issue 011 in JanuaryRiva Health, which acquired and rebranded Vital Labs, has raised $15.5 million. Its CEO is also the founder of Siri. (Back in January, the company’s SEC filing showed a $12.5 million raise.) Vital Labs, which got its start in 2016, “developed software-only sensor for smartphones using cutting edge GPU-based video-processing techniques to characterize cardiovascular disease burden and changes.” While “Riva’s measurement technology provides novel cardiovascular data and real-time management that can be directly tied to health goals and outcomes.” The announcement of Riva’s funding this week describes the news as the company’s launch and makes no mention of Vital Labs, which has a nearly five-year history.

* Clearing, which until recently was named Relief Labs, raised $12.5 million in a mix of debt and options. “Clearing is a digital health platform built to serve the 100M chronic pain sufferers in the United States. In partnership with leading physicians and researchers at Harvard, Johns Hopkins, and the Hospital for Special Surgery, and with significant funding from top-tier investors Bessemer Venture Partners, Founders Fund, Breyer Capital, and a host of leading healthcare and consumer entrepreneurs (including the founders of Hims, Seamless Grubhub, Flatiron Health, Forward Health, Curology and more) we are on a mission to provide patients with access to comprehensive, opioid-free pain relief.”

* Pulsara, which offers mobile apps to healthcare provider facilities to keep health teams in touch and care coordinated, raised $11.3 million to bring its latest raise upt to $22.6 million. Site

* Cureatr, a telepharmacist-powered medication management services provider, raised $11.1 million. Site

Cylera, a healthcare IoT cybersecurity and intelligence company that offers cybersecurity for asset management, risk analysis, and threat detection, raised a $10 million Series A led by Concord Health Partners and Maverick Ventures.

Harmonize Health raised a $10 million Series A led by Launchpad Digital Health for its remote patient monitoring program focused on seniors with multiple chronic conditions.

* Inbox Health raised $9 million for its patient billing offerings. The company helps providers create easy-to-understand billing statements that it says lead to timelier payments. Site

* Insight Medical Systems, which uses augmented reality to guide surgeons through complex procedures, raised $8 million. Site

* Cipher Skin, which makes a sensor-equipped sleeve that is used for various applications including physical therapy, raised $7.8 million in a mix of equity and other options. “Our BioSleeve monitors movement and captures the data, and the software translates these data sets into measurable and trackable statistics in real time.” Site

* Jasper Health, a startup from venture studio Redesign Health, quietly raised $6.8 million. Jasper helps people manage their cancer care via an app stocked with a smart planner, expert recommendations, a symptom tracker, and tools to share updates with family and friends. Site

* Cosan, formerly Chronic Care Management Inc., that rare health tech that might be named after a CPT billing code, quietly raised $5.7 million. Site

Digbi Health, which offers a genetics and gut microbiome-based digital care program for managing obesity as well as inflammatory digestive, skin, and cardiometabolic illnesses, raised a $5.4 million Series A led by Accel.

* Medcase Health, which offers a marketplace that allows companies to hire clinicians to label data, quietly raised $3.1 million. (One of Medcase’s illustrative use case studies: A client, which they called a fast-growing startup, hired Medcase because it required clinicians to label 100,000+ x-ray images for lung cancer.) Site

* DeepScribe, which describes itself as an “AI-based scribe technology” that takes care of medical documentation, raised a $3 million SAFE. Site eCare21 raised a $2.7 million seed round for its SaaS offering, which combines telehealth, remote patient monitoring, and chronic care management.

* SenseAI Health, a still stealthy health tech startup raised $2.2 million. Its founder, physician-engineer Dr. Shuai Xu is a professor at Northwestern University. While Xu is a dermatologist by training, his work has extended into other therapeutic areas. Xu also has a lot of experience with advanced wearable sensors.

Spora Health, a primary care provider for Black people and people of color that is initially telemedicine-only, raised $1.6 million. The practice charges members $9.99 a month currently. (Spora told TechCrunch in November that it had raised a $1.2 million seed round, so this might just be that.)

* MayaMD, a virtual assistant for patients and providers that allows them to check symptoms, receive accurate triage and other healthcare insights, raised $1.1 million in a mix of equity and options. Site

* Kneevoice, which makes a connected knee brace, raised $600,000. “Our brace design seamlessly integrates that microphone and motion sensors, allowing us to capture the sound and data coming from the knee.” Site

* Vytal Health, which is a holistic virtual health clinic for women, raised $600,000 in debt. Site

* VaxAtlas added another $500,000 in debt as it builds out its COVID–19 vaccine passport software. “VaxAtlas provides on-demand tools that enable you to store your vaccination record – it will be needed to travel and attend concerts and sporting events.” Site

* Somatix added another $500,000 to its ever-amended round of debt, options, and other securities, which is up to $6.7 million now. Somatix’s lead product is SafeBeing, which it describes as “a real-time Remote Monitoring solution that enables caregivers to passively detect changes in conditions, reduce hospitalizations, and improve on quality metrics. Using a simple, waterproof smartband with built-in sensors, SafeBeing tracks users’ Activities of Daily Living using novel gesture-detection algorithms and provides insights and predictive analytics around them including sleep quality, fall risk, fall detection, drinking/hydration, activity patterns, wandering, UTI risk and more.” Site

* Mentioning this one because it has an interesting focus: Marvin, which offers personalized mental health support for physicians, just got started raising funds with a $60,000 raise that included a mix of equity and options. Its action plans include teletherapy, meditations, mood analytics, and peer support. Site

Health Tech Trivia Question

Here’s the answer to last week’s Health Tech Trivia Question. But first, a congratulatory Zoom wave to this week’s impressive trio of trivia winners:

  • Jared Seehafer, CEO & Cofounder, Enzyme (of course Jared got this one)
  • Erin Brodwin, Health Tech Reporter, STAT News (Follow her on Twitter here)
  • Paul Schultz, VP Global Accounts, BrightInsight (LinkedIn)

ICYMI: The question was… One of Apple’s first FDA market authorizations was for its ECG App, which runs on the Apple Watch, way back in 2018. Apple received De Novo clearance for the app in record time. Which one of these describes how long it took from when the FDA said it officially received Apple’s De Novo application and when the agency officially made its decision?

  • 28 Days Later
  • 45 Days Later
  • 61 Days Later

THE ANSWER: 28 Days Later. Incredible, isn’t it? (Hey, let me know if you have an idea for next week’s trivia question and I’ll give you a link if I end up using it.)

What did you think of Issue 020 of E&O Mondays?
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3.19.21
6 min. read

That weird FDA de-regulatory notice.

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. Thanks to everyone who sent over names of digital health startups that spun out of pharmaceutical companies. (I received a lot of emails.) Working on a round-up of those for next week, so hit reply if you think I might be missing any.

 E&O Fridays.

OK, here's what's happening this week in the world of pharma digital products and FDA-regulated digital health:

  • The big hire this week goes to Amalgam Rx, which just announced that the COO of CMS, Jennifer Main, will join the company next month as its COO and CFO.
  • Meanwhile, investment dollars continue to flow: Happify Health announced a sizeable $73 million Series D led by Deerfield Management Company.
  • The big product launch this week goes to AstraZeneca, which officially 
×
3.15.21
4 min. read

More than $1B in health tech funding. New Trivia.

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:

  • I found well over $1 billion in (announced and unannounced) health tech funding deals (equity and debt) from the past two weeks.
  • In fact, there were so many I left a bunch out. I’ll include them next week.
  • Also: Scroll down for a new health tech trivia question… this one is multiple choice.

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This week’s health tech funding deals

OK, here’s what I found for the past two weeks:

Direct pay, primary care clinic company Forward Health raised a $225 million Series D from Founders Fund, Khosla Ventures, SoftBank, Inovia, Mark Benioff, and recording artist The Weeknd. TechCrunch

Cedar, which offers a patient engagement and financial technology platform, raised a $200 million Series D led by Tiger Global Management and with help from existing investors Andreessen Horowitz (a16z), Thrive Capital, and Concord Health Partners.

DispatchHealth, a house visits care provider, raised a $200 million Series D (less than one year after closing a $135.8 million Series C). The most recent round was led by Tiger Global with help from existing investors Alta Partners, Echo Health Ventures, Humana, Oak HC/FT, and Questa Capital.

Outside Interactive, which is the new media and fitness tech company run by ex-MapMyFitness CEO Robin Thurston, raised $150 million according to an SEC filing. Axios actually had an exclusive on this raise three weeks ago, but I missed it. Sequoia led the round and JAZZ Ventures, Zone 5 Ventures, and NEXT Ventures chipped in too.

Paige, which offers AI-based diagnostic software in pathology, raised a $125 million Series C co-led by KKR, Casdin Capital and Johnson & Johnson Innovation.

Valo Health, which uses patient data and machine learning to discover new drugs, closed a $300 million Series B, which includes $110 million in new funding from Koch Disruptive Technologies.

Beam Dental, which calls itself “a digital-first dental insurer that rewards its members for good dental hygiene,” raised an $80 million Series E led by Mercato Partners’ growth equity fund, Traverse. (I remember Beam when it was a simple, smartphone-connected toothbrush company.)

Health Recovery Solutions, AKA HRS, raised a $70 million Series C led by LLR Partners with help from Edison Partners. Forbes reports that the company’s headcount grew 258 year-over-year to 155 employees and revenue grew by 188 percent to $23.5 million (assuming that is for 2020). HRS is a remote patient monitoring company that offers Bluetooth-enabled home health devices and a software platform.

TytoCare, another remote patient monitoring company, raised a $50 million Series D after raising that same amount last April. Insight Partners led the recent round with participation from Tiger Global Management, Qumra Capital, Qualcomm Ventures, Olive Tree Ventures, and Shenzhen Capital Group Company. TytoCare says its revenue grew 2.5x in 2020 (assuming that year-over-year).

100Plus, a remote patient monitoring company run by former Practice Fusion CEO Ryan Howard, raised a $25 million seed round.

Providence spin-out DexCare, which calls itself a healthcare OS that “orchestrates health system capacity and digital demand across all lines of business,” quietly raised $20 million. Site

Health Gorilla, a health API company focused on interoperability, raised a $15 million Series B financing co-led by Nationwide and IA Capital. BurnAlong raised a $7 million round of funding led by Triventures, an investment vehicle that counts Medtronic, Philips, Boston Scientific, Abiomed, Intermountain Healthcare, Cardinal Health, Johnson and Johnson, Samsung, Nikon, and Sheba Medical Center as its strategic investors.

Reperio Health, which offers a subscription for at-home medical tests paired with an app that walks users through their results, raised $6 million.

Hook MD, another company working on interoperability between EHR systems, quietly raised $4.7 million in a mix of equity and securities. Site

Brave Care, which runs pediatric clinics and also offers virtual care, quietly raised $4.3 million. Site

UCM Digital Health, which calls itself a “digital front door” to healthcare, quietly raised $4 million. “UCM Digital Health brings emergency medicine expertise at the touch of a button with its unique treat, triage, and navigate approach, serving as health care’s digital front door. Patients simply download the UCMnow app on an iOS or Android device to receive access to a health care provider.” Site

PayGround, a self-described health FinTech startup that is trying to simplify the way patients pay their medical bills, raised a $4 million seed round.

Conversio Health, a care coordination company focused on pharmacotherapy management, bumped up its recent raise from $2.2 million to $3.9 million in a mix of equity, options, and securities. Site

SamaCare, which works with a manufacturer’s physician-administered products to optimize the prior authorization process, quietly raised $3.7 million.

Clinical Research IO (AKA CRIO), which tries to streamline clinical trials with digital consent and remote patient monitoring offerings, raised a $3.5 million Series A led by Rally Ventures with participation from Raymond Chang, Boston Millennia Partners, and Mark Lacy.

NFP added TrustLayer to its portfolio: “A next-generation collaborative risk management platform and one of the insurance industry’s first real-time proof of insurance verification solution.”

Ryse Asset Management added Oto to its portfolio: “Oto builds digital therapeutics that allows instant access to an evidence-based therapy app for tinnitus – a debilitating condition affecting 1 in 8 people. Their vision is simple: a world where everyone can live without intrusion from tinnitus.”

Ryse Asset Management also added Healthera to its portfolio: “Healthera is the leading online healthcare prescription marketplace platform through the largest digital platform of pharmacies and GPs in the UK.”

Health Tech Trivia Question

Here’s a new Health Tech Trivia Question.

Rules: Don’t use Google. Just guess. Hit reply and email me your answer along with if you want me to include your name/company, just your initials, or keep it anonymous. I’ll provide the answer next Monday along with three (3) randomly selected people who got it right (if anyone does). I’m happy to link out to your company’s website too, and that might be worth a lot in SEO mojo someday, who knows?

Question: One of Apple’s first FDA market authorizations was for its ECG App, which runs on the Apple Watch, way back in 2018. Apple received De Novo clearance for the app in record time. Which one of these describes how long it took from when the FDA said it officially received Apple’s De Novo application and when the agency officially made its decision?

  • 28 Days Later
  • 45 Days Later
  • 61 Days Later

Hit reply if you know!

What did you think of Issue 019 of E&O Mondays?
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