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Seven secret health tech funding deals

Issue 068

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 seven 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…

Seven 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. (These are all first in E&O — as far as I can Google — unless otherwise noted.)

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…

$19.5 million in equity, options and other securities – Paige AI – Microsoft announced a partnership an undisclosed investment in Paige back in January. This investment was dated in early March and included at least three investors. I’m guessing Microsoft was one of the three. Total offering amount was $39 million, but as noted above the actual raised was much less. More on Paige: “Paige is using the power of AI to drive a new era of cancer discovery and treatment. To improve the lives of patients with cancer, Paige has created a cloud-based platform that transforms pathologists’ workflow and increases diagnostic confidence as well as productivity, all on a global scale.” Site

$14.6 million – Nest Health – This hybrid in-person and virtual primary care provider focuses on care for families with kids. Not just kids though — the parents of the kids are patients for this practice too. More: “Nest Health was created to nurture families and children by bringing holistic primary care home. Especially during the early years, busy parents are asked to make time for dozens of medical appointments for their children but often don’t have the time to take care of themselves. We are eliminating the need for multiple appointments, extra time off work, and finding child care or transportation by bringing the care to you in your home and virtually. Nest Health is pioneering care for your entire family on your terms.” Site

$8.7 million – Bardavon – Remember: Bardavon is the firm that acquired virtual MSK pioneer PeerWell last June. More: “Bardavon is a privately held proactive Workers’ Compensation digital health partner that connects all stakeholders to better manage claims. We offer injury prevention, treatment, and work readiness solutions through our national network of therapy providers.” Site

$6.9 million – Care Angel – “Angel, the company’s AI digital health engagement platform, strategically maximizes outreach, while accommodating the preferences and communication needs of Medicaid beneficiaries for phone, text, or secure chat in more than 72 languages.” Site

$5 million – Mantra Health – OK, I’ve had this one in the hopper for a few weeks but the company went ahead and announced it this morning. (I’ll include it anyway since I haven’t seen it elsewhere yet but, I’m sure this one will be covered in another pub by the time I hit publish.) Mantra raised $22 million for its Series A back in January 2022. “This month, Mantra Health launched a suite of new products, which includes dialectical behavior therapy (DBT) self-guided content and emotional wellness coaching resources for students; partnered with Togetherall to incorporate a high-quality peer-to-peer support network into their suite of services; and secured $5 million in a Series A extension round of funding from returning investors to set the course for its exponential growth.” Site

$4.2 million – Chiefy – This description doesn’t make it clear that this is a software co: “Chiefy helps surgeons, anesthesiologists, nurses and other surgical stakeholders seamlessly bake quality best practices like pre-op huddles, checklists, surgical protocols, debrief and feedback loops. It enables fast and efficient coordination and collaboration from pre-op to post-op, while automating administrative tasks. The result is a dramatic improvement in perioperative quality, efficiency and patient safety.” Site

$1.2 million – Acolyte Health – “Acolyte health creates automated interactive video content featuring the caregiver’s digital twin to deliver a more effective call-to-action instructional video, in multiple languages, for the 70 percent of patients that don’t understand their treatment plan or who need to better prepare for their next visit.” Site

Let’s call that E&O Mondays Issue 068. 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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