Tracxn – Healthcare Newsletter # 46 – Healthcare IT

A daily newsletter summarizing recent activity & interesting startups globally

RECENT NOTABLE ACTIVITY – HEALTHCARE IT

• Kit Check, an automated cloud software for managing hospital pharmacy kits raised a funding of $15M in Series C with Baxter Ventures leading the round and other investors being Black Granite Capital, New Leaf Venture Partners, Easton Capital Management, LionBird and Sands Capital Ventures. Link
• Magic Software Enterprises a global provider of software platforms for enterprise mobility, cloud applications, and business integration acquired 60% equity interest in Roshtov Software Industries, the developer of the Clicks development platform which is used in the design and management of patient-file oriented software solutions for managed care and large-scale healthcare providers. Link
• LeanTaas, a SaaS-based analytic application to improve operational performance of hospitals and clinics raised a funding of $9M in Series B. Link
• Reflexion, provides Microsoft’s Kinect motion sensing system to doctors, in order to track patient’s adherence to the prescribed rehabilitation plan, raised a funding of $18M in Series B. Link
• HealthPrize Technologies, a medication adherence platform based on reward system raised an undisclosed amount in Series B from Mansa Equity. Link
• NoemaLife, which offers clinical and hospital information systems was acquired by Dedalus group. Link
• NeuroVision, integrated neuroscience company that focuses on designing diagnostic tests and biomarkers for early detection and monitoring of amyloid pathology related to Alzheimer’s Disease raised a funding of $5M in Series B with Wildcat Capital Management leading the round. Link
• Healthiest You which provides doctor appointment booking, telemedicine, wellness, price comparison of drugs and medical procedures, and health plan information on a single platform was acquired by Teladoc for $125M. Link
• Medsphere Systems, a provider of open source software for the healthcare industry raised a funding of $15.3M in Series D. Link
• Cloud9Ortho, cloud-based orthodontic practice management solution raised a funding of $5.06M in Series A. Link
• Network Locum, an online network that matches General Practitioner (GP) locums and practices raised a funding of $7M in Series B from BGF Ventures. Link
• Virta Health which develops and delivers clinically proven and individualized therapies to restore metabolic health in chronic disease patients raised a funding of $28M. Link
• Staywell, a company providing population health management, consumer engagement, and training, and patient education solutions was acquired by Healthcare Services & Solutions LLC, a subsidiary of Merck & Co. Link
• ESO solutions, which provides suite solution of workflow management and health information exchange raised a funding of $17.6M in Series C from Accel-KKR. Link
• Central Logic, a web-based hospital transfer center solution that helps hospitals and healthcare systems manage and optimize patient flow raised a funding of $5.9M in Series C led by Iron Gate Capital of Boulder, Colo. and Mercato Partners of Salt Lake City, Utah. Link
• Marathon Health, a provider of health and wellness solutions for employers and members raised PE funding of $30M from Goldman Sachs. Link
• Caremerge, a provider of web and mobile communication & care coordination solutions for senior living communities raised a funding of $14M led by Insight Venture Partners, with participation from previous investors Grażyna Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures, and Arsenal Venture Partners. Link
• Forward, a stealth startup, as of June 2016 claims to use sensors to rethink the healthcare experience raised a funding of $29.5M. Link
• Valence Health, a provider of clinical integration, population health, and value-based care solutions was acquired by Evolent Health for $145M. Link
• Docent Health, a creator of software and mobile applications that will help organize and monitor every aspect of an individual’s hospital visit raised a funding of $15M co-led by Bessemer Venture Partners, New Enterprise Associates (NEA) and Maverick Ventures. Link
• Endotronix, which is developing the Endotronix Care Management Solution to communicate pressures that accurately measure cardiac function and provide software and services to personalize the patient care experience raised a funding of $32M led by Lumira Capital. Link
• Azalea Health provides a platform which is electronic health records with integrated telehealth functionality as well as personal health records and mobile health applications raised a funding of $10.5M series B led by Kayne Partners. Link
• 98point6, an early-stage technology company in stealth mode raised a funding of $11M. Link
• Wellcentive, a healthcare intelligence solution suite that provides solutions including population management, clinical decision support was acquired by Philips. Link
• Akili Interactive Labs, a provider of gamified cognitive therapeutics raised a funding of $11.9M in series B led by the Dutch subsidiary of Merck Ventures, known as M Ventures in the US and Canada, and the venture arm of Amgen along with existing investors, which include Pfizer and Shire Pharmaceuticals. Link
• AristaMD, a digital health company focused on improving the specialty referral process raised a funding of $11M led by Avalon Ventures, with participation from Correlation Ventures. Link
• N-of-One, a molecular decision support company providing clinicians with clinically meaningful interpretation of molecular test results raised a funding of $7M in series B led by Providence Ventures and Excel Venture Management. Link
• Big Health, a healthcare company that delivers personalized behavioral medicine via web and mobile raised a funding of $12M led by Octopus Ventures, Kaiser Permanente Ventures, Index. Link
• Viewics Health Insighter, a visualization, and analytics solution provides clinical, operational, sales, and marketing teams with interactive dashboards for making day-to-day decisions raised a funding of $10.5M led by existing investor Canvas Ventures and new investor Roche Venture Fund. Link
• StatRad, offers teleradiology services to the providers operated by radiologists raised a funding of $13M. Link
• ElationEMR, an online electronic medical record (EMR) system raised a funding of $15M led by DFJ, with participation from Martha Marsh and Charlie Cheever. Link
• CareSkore, a web based predictive analytics driven platform helps hospitals, health systems, and ACOs raised a funding of $4.3M. Link
• Morrisey Associates, a provider or software which includes web-based applications for credentialing and privileging,care management and practitioner performance reporting was acquired by HealthStream for $48M. Link
• Press Ganey, provides patient experience measurement, performance analytics and strategic advisory solutions to healthcare organizations was acquired by $2.35B by EQT Equity Investment. Link
• Accolade, a provider of consumer healthcare engagement and influence solution for large self-insured employers and payer organizations raised a funding of $55M to complete the series E round of $93M started in July 2015 led by Andreessen Horowitz, with participation from Madrona Venture Group. Link

SOME INTERESTING STARTUPS FOUND

Clovi (2016, Toronto) – Offers tools to measure and track ROI on wellness programs for employers.
3D Bolus (2016, Halifax) – Provides software application that provides practitioners with turn-key software that enables printing of uniform thickness bolus
Bainbridge Health (2016, Philadelphia) – Provides a clinical intelligence & data analytics platform to monitor patient safety & reduce medication errors
Forward (2016, SFO) – Claims to use sensors to rethink the healthcare experience

LEADER BOARD –  HEALTHCARE IT

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. Went public in 2015.
Privia Health (2007, Virginia, $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.
Lumeris (2001, Maryland Heights, $211M) – Provider of population health management solutions to health systems, payers and providers. Backed by BlueCross BlueShield Venture Partners, Camden Partners, Kleiner Perkins Caufield & Byers and Sandbox industries.