A daily newsletter summarizing recent activity & interesting startups globally
RECENT NOTABLE ACTIVITY – HEALTHCARE ANALYTICS
- Siris Medical which has commercialized the first artificial intelligence treatment decision support system in radiation therapy raised $4M in Series A1 round led by DigiTx Partners with Participation from Medical Technology Venture Partners. Link
- HealthRhythms which offers behavioral health platform has received a $2.1M grant from the NIH to continue investigating smartphone-based behavioral health interventions. Link
- Infervision which develops AI-based medical imaging technology raised $18M in Series B round led by Qiming Venture Partners with participation from Sequoia Capital China and Genesis Capital. Link
- MyDoc, a provider of digital health platform for integrated healthcare has raised $5.2M in Series A round led by UST Global with participation from Wavemaker Partners. Link
- Cogitativo, a machine learning and data-science-as-a-service company for healthcare organizations raised $5M in Series A round from HCSC Ventures. Link
- Tempus which offers an oncology platform for sequencing, analytics and informatics closed a $70M Series C round co-led by New Enterprise Associates (NEA) and Revolution Growth. Link
- PatientSafe Solutions, a provider of mobile clinical workflow and communication solutions raised $25M financing round led by HighBar Partners with participation from Merck Global Health Innovation Fund, Camden Partners, Psilos Group, and TPG. Link
- Analytics 4 Life, which is developing a cardiac imaging technology raised a $25M in Series B round from an international syndicate of accredited investors. Link
- Cardinal Analytx Solutions, a developer of advanced machine learning solutions for improving healthcare raised $6.1M in Series A funding led by Cardinal Partners with participation from Premera Blue Cross and the Stanford-StartX Fund. Link
- VoxelCloud, a medical artificial intelligence company has raised $15M in Series A+ funding led by Tencent Holdings with participation from its existing investors including Sequoia Capital and NewMargin Ventures. Link
- C3HealthcareRx, which provides in-home medication management services raised $7.2M in Series A private investment funding. Link
- Level Ex, a developer of training simulators for medical specialists raised $11M in first round funding led by 4490 Ventures with participation from JAZZ Venture Partners, Pritzker Group Venture Capital, and other unnamed investors. Link
- Jool Health, a provider of digital Precision Well-Being solutions raised $4.5M in seed funding led by Grand Rapids with participation from Tappan Hill Ventures, Michigan Angel Fund, Wakestream Ventures, and angel investors. Link
- Cardiologs Technologies, which provides an artificial intelligence-driven
platform to manage cardiac patients, raised $6.4M in Series A funding from Idinvest, ISAI, Kurma Partners, Partech Ventures and Bpifrance. Link - Weave Communications which provides unified patient communication technology platform raised $17M Series B-1 funding round led by Catalyst Investors with participation from Crosslink Capital and Pelion Venture Partners. Link
- Biotechware which develops hardware and software solutions to collect and transfer clinical information raised $2.4M (€2M) from MEDME Group. Link
- Healthlogistics which provides information and data management software for hospitals is acquired by Germany’s leading hospital group Prospitalia. Link
- Workplace wellness technology company Viverae acquired health and wellness company SimplyWell. Link
- Vios Medical, a developer of patient-monitoring sensors and software is acquired by Murata Manufacturing for about $102M. Link
- Expression Health, a provider of business intelligence analytics for healthcare organizations and providers is acquired by Trilliant Health. Link
- WebPT, the leading rehab therapy software platform acquired patient engagement company Strive Labs. Link
- Vitalhub Corp has completed the acquisition of B Sharp Technologies for about $3.8M. Link
- Medaphor has agreed to acquire imaging analytics platform provider Intelligent Ultrasound (IUL) for approximately $4.7M (£3.6m). Link
- Virtual healthcare startup Carena is acquired by telemedicine provider Avizia for an undisclosed amount. Link
- Express Scripts Holding will acquire eviCore healthcare for $3.6B to boost its PBM’s presence in the medical benefit management services sector. Link
- Tea Leaves Health which provides platforms for health systems to connect with patients on engagement campaigns is acquired by Welltok for more than $83M. Link
- Rural-focused Azalea Health acquires EHR firm Prognosis Innovation Healthcare. Link
- EagleDream Health, a cloud-based practice performance optimization company is acquired by NextGen Healthcare for approximately $26M. Link
SOME INTERESTING STARTUPS FOUND
RCM Brain (2017, Louisville) – An AI-based automation engine for providers to collect payments from payers.
Stellicare (2017, Encinitas) – A collaborative care integration software that aids clinicians in solving behavioral health problems in the medical settings.
QClinics (2016, Montreal) – An AI-powered SaaS company that offers smart online queuing for walk-in clinics.
LEADER BOARD – HEALTHCARE ANALYTICS
VALUE BASED CARE
Evolent Health (2011, Virginia, IPO) – Provides healthcare technologies and services that improve clinical, operational and business outcomes. The company’s services include providing customers with a population.
Privia Health (2013, Viginia, $419M) – Builds and enables physician groups and clinically integrated provider networks using technology, team-based care, and wellness programs to help doctors to manage the health of their populations. Backed by Goldman Sachs, Pamplona Funds, Cardinal Partners, Brighton Health, Health Enterprise Partners and Morgan Noble.
Population Health Management
MedHOK (2009, Tampa, $78M , Acq ) – Provides a SaaS-based platform that uses predictive analytics to allow payers to identify and target member health risks, trigger workflow interventions, and improve the quality of care. Backed by Spectrum Equity and Bain Capital Ventures.
Humedica (2008, Boston, $63M, Acq) – Provides analytics solutions for healthcare providers to create a longitudinal view of individual patients and patient populations by gathering, normalizing, and analyzing data from EHRs, practice management, claims data. Backed by NorthBridge and Bain Capital Ventures.
Patient Engagement
Outcome Health (2006, Chicago, $533M) -Provides hyper-targeted information to patients at the point of car. Baacked by Goldman Sachs, CapitalG, Leerink Transformation Partners, Pritzker Group, Balyasny Asset Management, Alpha Venture Partners and Norwest Venture Partners.
Accolade (2007, Pennsylvania, $163.5M) – Provides consumer healthcare engagement and influence solution for large self-insured employers and payer organizations. Backed by Mckesson, Carrick Capital Partners, Com Cast Ventures.
Care Coordination
Onduo (2016, Minneapolis, $500M) – Technology platform using devices, software, medicine and professional care to manage diabetes. Backed by Sanofi, and Verily.
PatientSafe Solutions (2002, San Diego, $ 124M) – Provides smart point-of-care mobile solutions and innovating technologies enabling accountable care for healthcare organizations. Backed by HighBar Partners, Merck Global Health Innovation Fund, Camden Partners Holdings and more.
Remote Monitoring
LifeWatch (1993, New Jersey, IPO) – It is a maker of a medical device to be are worn on the chest to record heart’s rhythm. The data is continuously collected and analyzed in a dedicated mobile device.
iRhythm Tech (2006, San Franciso, IPO) – Its product the Zio Patch is a wearable patch designed to gather beat-to-beat heart data for diagnosis of cardiac arrhythmias. Backed by California Healthcare Foundation, Kaiser Permanente Ventures, Mohr Davidow Ventures, New Leaf Venture Partners, Northwest Venture Partners, and Synergy Life Science Partners.
EarlySense (2004, Tel Aviv, $85M) – Developed a sensor that is placed under the mattress and monitors body vitals as well as bed entries and exits, patient motion, and quality of sleep eliminating the need for regularly manually checking the patients in constant care. Backed by Pitango Capital Ventures and JKB Capital.
AirStrip technologies (2003, San Antonio, $65M) – Platform allows clinicians to securely access patient monitoring data such as continuous heart tracings and other waveforms – along with parameters such as BP, temperature, etc from EMRs, bedside monitors, and devices on their laptops and mobiles. Backed by Sequoia Capital, Welltrust Fund, and Qualcomm Ventures.
PROVIDER
Hospital Information Management Systems
Epic (1979, Madison) – Develops, implements and supports IT software solutions for healthcare providers.
Cerner (1979, Kansas City, IPO) – End-to-end healthcare information technology solutions and services for the healthcare provider to optimize clinical, financial and operational outcomes.Went public in 1986.
Livescribe (2007, Oakland, $168M, Acq) – Provides smart CPOE solution platform for healthcareproviders. Backed by Qualcomm, Greenhouse Capital Partners, Scale Venture Partners, Double Bottom Line Investors, Lionhart, TransLink Capital, Keating Capitaland more. Acquired by Anoto in Nov 2015.
Practice Management & EHR Platforms
We Doctor Group (2010, Hangzhou, $521M) – Offers a practice management solutions to healthcare providers. Backed by Tencent, Fosun, Morningside Ventures, Qiming Ventures and Shandong Tyan Home Co.
Modernizing Medicine (2010, Boca Raton, $329M) – Offers specialty-specific EMR with machine learning technology. Backed by Warburg Pincus, Pentland, Sands Capital Ventures, Summit Partners, Silicon Valley Bank, IBM and Sands Capital Management.
Clinical Operations Management
Imaging Advantage (2007, Santa Monica, $295M , Acq ) – Offers RadAdvisor, a cloud-based decision support platform for radiologists that helps in diagnostic decision support. Backed by Goldman Sachs, Brightwood Capital Advisors, and CRG.
HeartFlow (2007, Redwood City, $227M) – Provides cardiovascular diagnostic support using CT scans and high-performance computing to provide physicians with data about blood flow within the coronary arteries. Backed by Capricorn Investment Group and US Venture Partners.
Administrative Solutions
Awarepoint (2002, San Diego, $90M) – Offers Location-as-a-Service for healthcare organizations to facilitate asset management and tracking. Backed by KPCB, Cardinal Partners, SVB Financial Group, Venrock, Heritage Group, Icon Ventures, Jafco Ventures, Avalon Ventures, Avalon Ventures, Top Tier Capital Partners, New Leaf Ventures.
Phreesia (2005, NYC, $75M) – Provides a patient check-in platform for healthcare providers. Backed by BlueCross BlueShield Venture Partners, Escalate Capital, Ascension Ventures, Ascension Ventures, LLR Partners, Polaris Partners, Sandbox Industries, Long River Ventures, HLM Venture Partners, VantagePoint Capital Partners.
Evariant (2008, Farmington, $69M) – Provides platform for digital marketing solutions. Backed by Lightspeed Venture Partners, Health Enterprise Partners, Enterprise Partners Venture Capital and Goldman Sachs.
Professional Networks
Doximity (2011, San Mateo, $82M) – Mobile/web networking platform for physicians, medical professionals. Backed by Interwest Partners, Emergence Capital, T. Rowe Price, DFJ Venture, Morgan Stanley and Morgenthaler Private Equity.
Sermo (2000, New York City, $60M) – Social network for physicians. Backed by Kennet Partners and Deerfield Capital Management
HORIZONTAL
McKesson (1833, San Francisco, IPO) – Provides solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services.
Imprivata (2002, Tennesse, IPO) – Provides secure access and collaboration solutions for enterprises. It strengthens user authentication, streamlines application access and simplifies compliance reporting across multiple computing environments.
MedSolutions (2002, Tennesse, IPO) – Provides Intelligent Cost Management, that encompasses utilization management, capturing savings, reducing treatment costs, and supporting diagnostic accuracy.
Health Catalyst (2000, Utah, $237M) – Provides multiple analytical products, services, and applications like population health management, patient injury prevention, operational efficiency, performance monitoring and financial management for healthcare organizations. Backed by Sequoia Capital, Kp Ventures, Epic Venture Capital, Sorenson Capital.
EMPLOYER
Wellness Platforms
Welltok (2009, Denver, $151M) – Platform which provides personalized incentive based patient engagement services for Population health managers. Backed by Bessemer Venture Partners, Emergence Capital Partners, InterWest Partners, New Enterprise Associates (NEA), Qualcomm Ventures, Miramar Digital Ventures, Okapi Venture Capital, Georgian Partners, EDBI and Flare Capital Partners.
Castlighthealth (2008, SF, IPO) – Offers healthcare information on providers and pricing for enterprises. Went public in 2014. Went public in 2015.
Benefits Administration
Collective Health (2013, San Mateo, $119M) – Self-insurance SaaS platform for employers to sponsor their employees. Backed by Google Ventures, Rock Health, Redpoint Ventures, Maverick Capital, New Enterprise Associates, Founders Fund and RRE Ventures.
Hodges-Mace (2004, Atlanta, $98M) – Offers benefits communication and enrollment platform to large employers Backed by Stone Point Capital.
Healthcare Services
Crossover Health (2010, Aliso Viejo, $114M) – Offers on-site or nearby clinics for employers to facilitate employee health consultations. Backed by Gurnet Point Capital, Norwest Venture Partners and FS Investors.
Teladoc (2002, Dallas, IPO) – Provider of telehealth services. Backed by Silicon Valley Bank, Flag Capital Management, Greenspring Associates, BNY Mellon, Questmark Partners, Cardinal Partners, HLM Venture Partners, KPCB and more.
PAYER
Connecture (1997, Brookfield, IPO) – Web-based health plan distribution platform for healthcare payers. Went public in 2014.
NexgenRx (2003, Toronto, IPO) – Web-based claims adjudication and benefits administration for processing prescription drugs, and dental office claims. Went public in 2006.
ikaSystems (1999, Southborough, $152.5M, Acq.) – Software suite for health plans that includes claims submission and authorization, member and provider portals, electronic billing and claims adjudication solutions. Backed by Essex Woodlands Health Ventures. Acquired by Blue Cross Blue Shields in 2015.
PHARMACY
Express Scripts (1986, Missouri, IPO) – Offers SaaS platform of pharmacy benefit management solutions for health plans, providers, and patients.
CatamaranRx (1981, Illinois, Acq) – Provides pharmacy benefit management solutions and connect pharmacists, doctors, and caregivers with prescription data to improve health outcomes.
Millennium Pharmacy Systems (2003, Oakbrook, $62M) – Offers Just-In-Time dispensing with e-prescription, administration, documentation, and reporting. Backed by Essex Woodlands, Boulder Ventures, ATEL Capital Group, CHL Medical Partners, Ascension Ventures, and HealthInvest Equity Partners.
Talyst
(2012, Washington, $65M) – Pharmacy Management solutions to pharmacies. Backed by OVP Ventures, Align Investments, Ignition Partners.
Leaderboard includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
For latest updates, visit the Healthcare Analytics feed.