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Thirteen stealthy health tech funding deals. Puzzle answer

Issue 040

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:

  • Thirteen under-the-radar or not-yet-reported health tech funding deals.
  • The long-awaited answer to the Health Tech Rebus Puzzle from two weeks back.
  • But wait: If this was forwarded your way, why not sign up as a paying subscriber to E&O by clicking right here…

Thirteen 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 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.)

Keep in mind: Most of the amounts listed below are currently unannounced equity sales, so the full amount the company raises and eventually announces may be higher than the numbers below.

$40 million – Lightship – Lightship offers “enterprise-level, direct-to-patient clinical trial solutions” with a focus on virtual-first, decentralized trials. Site

$21 million – Salucro Healthcare Solutions – “From patient-facing online bill pay solutions to payment integrations that enable new efficiencies for providers, the Salucro platform brings cohesive payment experiences to healthcare providers, patients, and third-party collection partners across the revenue cycle.” Site

$14 million – Loop Health – This is an India-based digital health company that is “pioneering value-based care in India starting with great employee health benefits.” Site

$11.2 million – SmartScripts – This one is like PillPack: “SmartScripts is a personalized pharmacy that delivers convenient, multi-dose prescription strip(s) to your home.” Site

$7.2 million – Be Me Health – Here’s an interesting one. Be Me is a quiet startup that is led by a former CEO of Alere, Ron Geraty. One of its other directors is the former CEO and co-founder of myStrength, Scott Cousino. This one hasn’t let any details slip yet. However, Geraty is a mental health professional by training, and if you couple that with Cousino’s involvement in this venture, sure seems like a mental health startup, right? Site (still under development)

$3 million – Health Rhythms – The company markets to care providers and those running clinical trials. It offers mental health screening software that can be inserted into various care pathways. “We have combined AI, behavioral sensing, and the supercomputing platform of the mobile phone to measure mental health status, predict deterioration in mental health up to a week in advance, and digitally intervene with highly personalized care.” Site

$3 million (options) – Zocalo Health – Here’s a quiet one. This is the name of the health equity start-up from former Amazon Care executive Erik Cardenas. On Twitter, Cardenas describes himself as a “Latinx Entrepreneur (@ Stealth Health Equity Startup).” Twitter

$3 million in debt – NextHealth Technologies – This company mostly works with health plans to improve member engagement and enrollment. “Rather than relying on standardized risk models and one-size-fits-all approaches, we employ additional intelligence like social determinants of health. This enables us to find the members most likely to benefit from an engagement campaign.” Site

$2 million – Retain Health – This might be the only health startup based out of my town — Bedford, MA. Here’s what the (still very quiet) company is working on: “RETAIN – a digital therapeutic for prevention of Alzheimer’s Disease. Delivering mobile care to make brain-healthy lifestyle changes based on clinical evidence.” Site (still under development)

$1.4 million – StoryMD – “The StoryMD web app is a private, customizable, and entirely new experience for understanding, tracking, and personalizing your wellness journey.” Site

$760,000 – Cassidy Health – This startup is still pretty quiet and describes itself as in “private beta” right now. “Cassidy Health is the first AI-powered freelance marketplace specifically for the business of medicine… By eliminating the middleman and connecting opportunities directly with experts that have the exact skillsets required, we carve out administrative waste so that doctors pay less and experts earn more. Cassidy is helping doctors & medical facilities find expert freelancers at a fraction of the cost of traditional consulting and staffing agencies. Expert medical coders, billers, auditors, reporting analysts and system administrators can work remotely and be their own boss.” Site

$535,000 in options – Peer Collective – Peer Collective is an online group therapy startup. Its Twitter description is partly an ad, but it has some interesting details on the model: “Peer Collective is an affordable alternative to traditional therapy. Talk by phone/Zoom today. First 60 minutes [are] free then plans start at $28/hr.” Site

$500,000 – moove – There are a few startups with a name like this. Here’s the description for this one: “moove is a team-based fitness challenge driven by personal accountability, team synergy and the spirit of competition. The moove competition platform is completely customizable for private leagues and brings the fantasy sports model to the masses with teams going head-to-head each week with two goals in mind: move a little more each day and take home the championship title. moove is where working out means working together.” Site

Health Tech Rebus Answer

Here’s the long-awaited answer to the puzzle from two weeks ago (included the puzzle again below for reference): “Remote Therapeutic Monitoring Codes” Who got it right… Here are just a few of the very smart people people who answered correctly:

  • Rohit Bansal, Senior Director, Digital Therapeutics Commercial Lead, Otsuka Pharmaceutical Companies (US) LinkedIn
  • Josh Sackman, Co-founder / President, AppliedVR LinkedIn
  • Neal Khosla, Co-founder / CEO, Curai Health

ICYMI… 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: If you are a paid subscriber to E&O, this is a topic I’ve been writing about on Fridays recently…

That’ll be the end of E&O Mondays Issue 040.
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