8.16.21
4 min. read

Five stealthy health tech funding deals. New puzzle

Issue 037

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:

  • Five under-the-radar or not-yet-reported health tech funding deals.
  • Then, there’s a recap of some of E&O’s recent reporting that’s really for your friends and colleagues. (Who do you know that should be reading E&O? Please forward them this newsletter so they can get a sampling of recent reporting.)
  • And of course: A brand new Health Tech Rebus Puzzle.
  • But wait: If this was forwarded your way, why not sign up as a paying subscriber to E&O by clicking right here…

Five 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.)

* Please note: These rounds are unannounced so the full amount the company raises as part of its current round may be higher than the numbers below.

$17 million – Getlabs – This company announced its $3 million seed round just this past April, but it quietly started taking checks for this round at the end of July. Investors in the company include PivotNorth Capital, Emerson Collective, and Marble.

“Getlabs brings healthcare companies to you. Patients can book a phlebotomist to draw their lab order at home and deliver to Labcorp and Quest Diagnostics. Healthcare companies can send a specialist to patients via our API to seamlessly connect virtual and in-person care.” Site

$7.1 million in debt in March 2021 – Tula Health – This company filed ten SEC filings last week disclosing various equity sales over the course of the past few years. In December the company posted a blog on its site that said it had raised $42 million overall, including $24 million in debt and $18 million in equity. (It’s possible this $7.1 million debt raise was already included in the $42 million figure from December).

“A digital health platform that continuously and noninvasively monitors blood glucose and key health metrics through its wrist worn device, BioCheck. Tula combines its innovative technology with 24/7 monitoring through its Engagement Center. The Company delivers real-time actionable data to change behaviors and lower healthcare costs.” Site

$2.7 million in equity, options, and other securities – Medmo – Medmo’s investors include Jerusalem Venture Partners (JVP).

“Medmo returns power to patients, helping people find medical imaging at predictable, affordable prices. Using Medmo, you can book your next medical scan at the exact price you can afford – with no surprise bills. We can help with all types of scans – including MRIs, CTs, and PET scans. We work with high-quality, accredited centers through the United States.” Site

$650,000 – GRYT Health – This cancer-focused company offers a patient community, mental health chatbot and more, as described below:

“More than 10,000 people have downloaded the GRYT Health app… offers a host of resources including articles on issues relevant to the cancer journey and is a place where community members are empowered to share their stories. Users can also access Vivibot, a mental health chatbot that listens, 24/7 on the platform… the organization today offers a number of virtual conferences, including the cornerstone Global Virtual Cancer Conference and the COVID Advocacy Exchange, which not only help to educate attendees, but provide a platform for sharing experiences… Currently, working in collaboration with half of the world’s top 10 pharmaceutical companies, GRYT Health also champions patient experience research and clinical trial recruiting.” Site

$500,000 – Lactation Lab – This company offers a mail-order test for testing breast milk.

“A simple way for mothers to test their breast milk for key nutrients and screen for the presence of toxins. Founded by a family physician & mother of two.” Site

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

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 big company’s (most are Fortune 500s) 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 19 big companies: WalmartActivision BlizzardJP Morgan ChaseThe Home DepotBoeing3MChevronBorgWarnerBank of AmericaUnitedHealth GroupCostcoeBayMcKessonFordDellAT&TDisneyNovartis, and Red Bull.

How Virgin Pulse bundles its partners’ digital therapeutics programs for its employer clients: E&O published a massive report on Virgin Pulse in September 2020, but it wasn’t until recently that I figured out how the company prices its bundle of what it calls digital therapeutics programs. The pricing I reported in Issue 019 of Wednesdays was surprising to many readers.

Hinge Health pricing in 2021: Hinge Health tweaked its pricing and guarantee since E&O’s big Hinge Health report in April 2020. E&O reported on Hinge’s new pricing and ROI guarantee in Issue 018 of Wednesdays.

Remote Therapeutic Monitoring and other new, potential billing codes for digital health: E&O Fridays tracked the rise of the new RTM billing codes from their conception in August 2020 (Issue 068) at the AMA up through the proposed 2022 Physician Fee Schedule (Issue 110) which suggested reimbursement that was more or less on parity with the pre-existing Remote Patient Monitoring codes. In Issues 112 and 113, E&O dug into the next wave of codes for digital health under consideration at the AMA’s next meeting. So, that’s a quick rundown of some of E&O’s reporting 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.

Health Tech Rebus Puzzle

This week’s Health Tech Rebus Puzzle 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: Before the FDA called them software as a medical device (SaMD) the agency officially referred to them as… (Hit reply with the answer if you get it! (And let me know if I can mention you next week along with a link to your company/Twitter/Linkedin…)

That’s a wrap on E&O Mondays 037.
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