A daily newsletter summarizing recent activity & interesting startups globally
RECENT NOTABLE ACTIVITY – HEALTHCARE IT
- Proteus Digital Health, an IoT-based medication adherence platform raised a funding of $50M in series H. Link
- Livongo Health, a Cloud-connected glucose meter to manage diabetes raised a funding of $44.5M in series C with investments from Merck Global Health Innovation Fund, Cowen Private Investments, Sapphire Ventures, Wanxiang America Corp. and Zaffre Investments. Link
- Quartet Health, an integrated Population Health Management platform for behavioral and medical health solutions raised a funding of $40M in series B with investments from F-Prime Capital Partners, Oak HC/FT Partners, and Polaris Partners. Link
- Wly Cloud, a cloud-based medical imaging storage, and telemedicine service raised a funding of $34.5M in series A backed by Alibaba. Link
- OnShift, a suite of products for hiring, scheduling and workforce analysis drives raised funding of $18M in series D with investments from Health Velocity Capital, Draper Triangle Ventures, Early Stage Partners, Fifth Third Capital, HLM Venture Partners, North Coast Venture Fund, and West Capital Advisors. Link
- Augmedix which uses Google Glass technology to help reduce the time the physicians spend on documentation raised $17 million in strategic investments from Sutter Health, Dignity Health, Catholic Health Initiatives, TriHealth Inc, Redmile, Emergence Capital and DCM Ventures. Link
- CrossChx, a secure patient registration solutions for healthcare providers raised funding of $15M in series C with investments from Silicon Valley Bank, Khosla Ventures, Drive Capital, NCT Ventures and Moonshots Capital. Link
- Practice Unite, a customized mobile communication for improving workflow efficiency merged with Uniphy a healthcare communication platform. Link
- Doctor.com, a reputation management firm for hospitals & healthcare providers acquired Referbright, a digital marketing company for hospitals. Link
- Allscripts, a company providing a suite of healthcare software acquired Netsmart Technologies, a company providing a suite of software for behavioral health clinics. Link
- Light Beam, an end to end provider of Population Health Management Software acquired Browsersoft a Health Information Exchange solution. Link
- RealyHealth, a Care Coordination and Health Information Exchange software provider won a $139M contract with Department of Justice, USA. Link
- Epic, a company which provides a suite of healthcare solutions won a suit of $940M in damages in ints trade secrets lawsuit against TCS. Link
- Fire1, a stealth mode spinout from medical device incubator The Foundry, raises $7.5M in a Series B round led by Medtronic. Link
- Touch Bionics, a developer of upper limb prosthetic solutions, was acquired by Össur, for $39 M on a debt and cash free basis. Link
- Transcatheter Technologies, a developer of implantable devices for heart valve repair and replacement, was acquired by Venus Medtech for an undisclosed amount. Link
SOME INTERESTING STARTUPS FOUND
Able Health (2015, SF) – Offers a cloud-based pay-for-performance and risk adjustment platform that uses analytics to improve quality and automate reports.
BeingHappy (2015, SF) – Offers an app for measuring and tracking happiness.
Simplifeye (2015, California) – Offers a SaaS product that helps doctors to be more efficient using wearables like the Apple Watch and providing the right information at the right time.
Prescient Healthcare (2015, Virginia) – A healthcare analytics company that creates predictive models with alerts and triggers which can be used in an acute care hospital to improve patient outcome.
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.
Alignment Healthcare (2011, New Jersey, $125M) – Provides a framework for population health transformation by combining an advanced clinical model, IT and enablement platform, risk experience, and capital. Backed by General Atlantic.
Proteus Digital Health (2001, California, $404M) – Digital medicine platform includes unique measurement tools like sensor enabled pills, a biometric sensor patch worn on the body that receives data from sensors and sends it to the cloud, from where it can be analyzed using a smartphone app by doctors and caregivers. Backed by Novartis, Medtronic, Oracle, KP Ventures.
Lumeris (2001, Maryland Heights, $141M) – Population health management solutions for healthcare organizations to facilitate the transition to a value-based care model. Subsidiary of Essence Group Holdings Corporation. Backed by BlueCross BlueShield Venture Partners, Camden Partners, Kleiner Perkins Caufield & Byers and Sandbox industries.Patient Engagement
Welltok (2009, Denver, $151.5M) – It provides a health optimization platform, CaféWell, is a collection of resources and programs that drive consumer engagement through a novel combination of social, gaming and personalized activities. Backed by Qualcomm Ventures, EMCAP partners, Interwest Partners, Bessemar Venture Capital.
Accolade (2007, Pennsylvania, $112M) – 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
Grand Rounds (2011, SF, $106M) – Is technology company which provides healthcare concierge service to the patient. Backed by Greylock partners, Venrock and Harrison Metal.
Remedy Partners (2006, SF, $95M) – Enables healthcare providers in developing and operating patient-centric episodic payment programs. Backed by Bain Capital ventures.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. Went public in 2006.
iRhythm Tech (2006, SF, $95M) – 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.
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
Suite Solutions
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.EHR Platform
Flatiron (2012, NYC, 314M) – Offers cloud-based EHR platform, Analytics, Billing solutions for oncology practices. Backed by Roche, Google Ventures, First Round, SV Angel and LabCorp.
Practice Fusion (2005, SF, $155M) – Provides a free, web-based Electronic Health Record (EHR) platform to physicians. Backed by Qualcomm, Longitude Capital, Artis Ventures, SV Angels, Band Angels, Orbimed and KPCB.
Practice Management
Guahao (2010, Hangzhou, $536M) – Offers a platform to consumers and doctors, to book and manage appointments. Offers a practice management solutions to healthcare providers. Backed by Tencent, Fosun, Morningside Ventures, Qiming Ventures and Shandong Tyan Home Co.
Practo (2008, Bangalore, $125M) – Offers a web-based platform to patients and doctors. The SaaS-based practice management solution for physicians is called Practo Ray. Backed by Matrix Partners, Sequoia Capital, Tencent, Google Capital and InnoVen Capital.
Home care Management
Homecare Homebase (2001, Dallas, $57M) – Cloud-based tech enabler for Hospice & HomeCare organizations. Backed by SV Life Sciences.
Kinnser Software (2003, Austin, $40M) – Offers web-based software solution for point of care, billing and administration services to home health agencies. Backed by Insight Partners and Georgian Partners.
Clinical Operations Management
Imaging Advantage (2007, Santa Monica, $295M) – 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, $163M) – 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
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.
hc1.com (2011, Indianapolis, $35M ) – Cloud-based CRM solution. Backed by SCM Specialty Finance Opportunities Fund.
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, SF, IPO) – Provides solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. Went public in 1994.
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. Went public in 2014.
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
Benefits Administration
Castlighthealth (2008, SF, IPO) – Offers healthcare information on providers and pricing for enterprises. Went public in 2014. Went public in 2015.
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.
Employee Fitness & Wellness
Virginpulse (2004, Framingham, $92M) – Provides hub of tools that foster employee engagement and wellness.Backed by Insight Venture Partners and Virgin Group.
Jiff (2009, Palo Alto, $50M ) – Digital health apps platform for employers providing healthcare plans for their employees.Backed by Rosemark Smart Capital, Venrock partners, Aeris Capital, Aberdare Ventures and GE Ventures.
Healthcare Delivery
Imaginehealth (2006, Midvale, $41M) – Provider of customize fleet of Healthcare providers to employers. Backed by HLM Venture Partners and Trident Capital.
Healthiestyou (2010, Scottsdale, $30M) – Teleconsultation service provider for employees. Backed by Frontier Capital
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.
HealthEdge (2004, Burlington, $47M) – Suite of software products for the healthcare payer market that includes claims and benefits administration, care management, business intelligence and portal solutions. Backed by Psilos.
PHARMACY
Express Scripts (1986, Missouri, IPO) – Offers SaaS platform of pharmacy benefit management solutions for health plans, providers, and patients. Went public in 1992.
CatamaranRx (1981, Illinois, Acq) – Provides pharmacy benefit management solutions and connect pharmacists, doctors and caregivers with prescription data to improve health outcomes.
Talyst
(2012, Washington, $56M) – Pharmacy Management solutions to pharmacies. Backed by OVP Ventures, Align Investments, Ignition Partners.
MedAvail (2012, Ontario, $37M) – It is a healthcare technology company commercializing a self-service kiosk solution, the MedAvail MedCenter, automating the dispensing of prescription drugs and Over-The-Counter medications. Backed by Walgreens, Redmile Group, Adage Capital.
Leaderboard includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
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