8.29.22
4 min. Read

Funding scoops: Recuro Health, January AI and more

Issue 059

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…

Almost $50 million in secret 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. (Outside of a couple of these getting mentioned in local news round-ups, 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…

$27.2 million – Recuro Health – This one is listed as a $60 million offering, so I think the announced amount could end up much higher than the $27 million officially raised so far. Recuro is the digital health roll-up started by the founding CEO of Teladoc, Michael Gorton. The company is a tough one to nail down, but this sentence from its site is the clearest explanation I could find for what it does: “Recuro Health offers a… portfolio of… virtual care services, including Virtual Primary Care, Urgent Care and Behavioral Health.” They seem to sell primarily to employers and other payers. Site

$13 million in debt – January AI – January is similar to Levels and Veri in that it market continuous gluclose meters (typically Abbott’s) to people who do not have diabetes with the promise of improving their metabolic health. January also positions itself as a partner to pharmaceutical companies: “January AI discerns integrated physiological and lifestyle biomarkers, leading to clinical trial pipelines with a lower N and faster time to market. Through our interventional programs and AI as a companion app, we learn how metabolic-disease drugs are affected and confounded by individual physiologies and lifestyles.” Site

$3.5 million – Navigator Healthcare – Navigator is true to its name but much more focused than indicated: The company helps people find care providers to help them manage their drug or alcohol use. It’s really a phone call-based service, so probably not a true digital health company by many people’s definition: “When you call us, a dedicated Care Specialist will listen to your preferences — whether it is an outpatient rehab center near your home or a residential treatment center. We will talk through your needs, health, family, work, or school and identify the right care for you. On the same call, we will set up a same- or next-day appointment with a provider so you can begin setting and meeting goals to manage your drug or alcohol use — and start looking forward to the future.” Site

$2.5 million in a convertible note – NeuTrace – This one is led by a cardiologist who consults with the NBA: “Cross-functional startup team of Silicon Valley AI engineers, practicing Electrophysiologists (MDs), and Regulatory experts building a machine-learning EP diagnostic and treatment system for use by other Electrophysiologists, Internists, and consumers. At Neucares, our focus is bringing the best of AF and VT care to every corner of the world.” The company describes itself as a subsidiary of Neucares, which in turn, describes itself like so: “NeuCures is redefining how we treat cardiac disease. We are combining the advances in data sciences and machine learning with the role that autonomic nervous system plays in cardiovascular diseases, to develop ground breaking therapies for the world’s deadliest diseases.” Huh. No website. LinkedIn page

$2.2 million in equity and other options – Kinspire – Kinspire offers virtual occupational therapy for kids direct-to-consumer. Base membership costs $149 per month: “Anytime messaging, personalized care plan, progress tracking, unlimited family accounts, and an occupational therapist just for you.” Site

$1.1 million – RevOps Health – Here’s a refreshingly clear company description: “RevOps Health is a data company that builds technology to simplify how healthcare providers track, manage and analyze reimbursements. Organizations of every size – from private practices to hospitals – lack the tools to help them answer crucial questions about how they’re being paid, and why.” Site

$450,000 – Anavah Health – Anavah might be better known by its Know-Able brand. “Know-Able empowers caregivers to keep incontinent seniors clean, dry and healthy… Know-Able’s disposable incontinence products have remote monitoring wetness sensors built right into them, so there are no attached devices. This means that caregivers continue to change patients as normal, and instead of time-consuming rounding, when patients may not be wet, caregivers only respond when necessary. The result is significantly less exposure to urine, and less caregiver time spent on incontinence care. ‍” Site

$440,000 – Reciprocity Health – Reciprocity is looking to work with Medicaid, Medicare, and employers. It uses “proprietary selection algorithms, behavioral change modeling, and robust financial incentives” to improve member engagement. “Reciprocity Health can help payers improve member engagement and reduce avoidable costs by improving adherence. For our members, we help them gain the motivation to create sustained health behaviors. In doing so, they feel better, and insurers’ overall costs go down.” Site

Let’s call that E&O Mondays Issue 059. 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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