A daily newsletter summarizing recent activity & interesting startups globally
RECENT NOTABLE ACTIVITY – HEALTHCARE IT
- Evidence Care, a clinical decision support platform for clinicians to access patient-specific evidence-based treatment recommendations at the bedside raised $2M convertible Note B funding from NueCura Partners. Link
- Aetion offers a platform to gain insights into the clinical and financial status of a population raised $11.2M in Series A from Flare Capital Partner. Link
- Ivenix, earlier known as Fluidnet Corporation which has developed an Infusion Management System which includes an information system that operates within an infusion device, raised $50 million round of equity financing for its new technology platform, the Ivenix Infusion System from F-Prime Capital Partners and WuXi Healthcare Ventures. Link
- MYnd Analytics, formerly CNS Response is a neuroscience company focused on improving the quality of treatment for patients with brain disorders raised a strategic $1M equity Investment. Link
- PocketRx, an app to help patients manage their prescriptions, and is sold to pharmacy chains was acquired by Digital Pharmacist, a company formed in January from a merger of RxWiki and TeleManager. Link
- EveryMove which turns individual fitness tracking data into social connections, goals, accountability, and purpose was acquired by Higi, a company that operates the largest health screening ecosystem. Link
- higi, a platform is directed at community health and wellness and allows consumers to collect and share their health a Series B investment from BlueCross BlueShield Venture Partners. Link
- BetterPT, a physical therapy platform that connects private physical therapists and clients has raised $1.5M from Loeb Holding Corp. Link
- Jellyvision, which develops engaging and educational solutions to provide decision support to consumers and employees using virtual games. Link
- WhiteSpace Health, a provider of data analytics and cloud-based healthcare intelligence was acquired by Omega Healthcare Management Services. Link
- Tilak Healthcare, a developer of gamified digital solutions to be used as diagnostics or rehabilitation tools for chronic disease raised $2.7M from iBionext Growth Fund. Link
- Clinivid a patient-centric video communication between clinicians for the second opinion raised $350,000 in seed funding. Link
- Strenuus, a healthcare information technology company and provider of healthcare provider network analytics was acquired by Zelis Healthcare, a market-leading healthcare information technology company. Link
- Amino, a healthcare transparency company that helps people find care, estimate costs, and book appointments raised $20M in Series C funding led by Highland Funds, Accel Partners, Aspect Ventures, CRV, Pilot Wall Group. Link
- Wellthie, a digital health company that provides software and services which guide a consumer through health plan options and choices raised $5M in Series A funding from IA Capital Group and Aflac. Link
- CoverMyMeds one of the leading electronic prior authorization solution provider was acquired by Mckesson for $1.4B. Link
- Drchrono, a freemium iPad EHR platform that operates on iPad, iPhone, Google Glass and cloud raised $12 million in Series A funding led by Runa Capital with participation from Maxfield Capital, Eric Dunn (CEO of Quicken Inc. and Intuit’s first CTO), and FundersClub. Link
- OM1 previously called Better Oucomes is a digital health company that offers a software platform which helps organizations manage value and outcomes-based payment models raised $15M in strategic funding from Wannxiang Healthcare Investments. Link
- WPC Healthcare which offers an analytics platform which identifies the risk of patient contracting sepsis both pre-op and post-op was acquired by Intermedix, which makes cloud-based SaaS for healthcare providers, government agencies, and corporations. Link
- QorQl, a doctor appointment booking platform with integrated electronic health record and practice management solution raised an undisclosed amount from Paytm. Link
- Ortho Kinematics, a spine diagnostics company which provides spine motion analysis and diagnostic services raised $18.6M in Series D funding from undisclosed investors. Link
- Spring Care which offers a quick digital test which helps clinicians to the match the patient with a correct anti-depressant raised $1.5M in seed funding. Link
- Virtual Health Partners which offers an on-demand HIPAA compliant healthcare platform focussing on ancillary care treatment such as nutrition, fitness and behavior modifications raised Series A Preferred Stock financing round to institutional and accredited investor. Link
- ClearDATA which designs and develops HealthDATA, a cloud computing platform that enables providers to store, manage, protect, and share their patient data and critical application raised $12 million from Merck Global Health Innovation Fund, Norwest Venture Partners, Excel Venture Management, Heritage Group, HLM Venture Partners, and Flare Capital Partners. Link
- LeonardoMD which offers Medical Practice Management Software and an Electronic Health Record (EHR) was acquired by Integrated cloud-based healthcare solutions and services company Azalea Health. Link
- Entrada, a leading provider of integrated mobile solutions that improve healthcare efficiencies and outcomes, was acquired by NextGen Healthcare Information Systems for $34M. Link
- Sansoro’s Emissary application which provides EMR interoperability through universal application programming interfaces (APIs) and a unified data model raised $5.4M in funding. Link
SOME INTERESTING STARTUPS FOUND
Casper (2016, Berlin) – A solution for digital therapy planning and management offering an individual training program in the areas of physio- and ergotherapy as well as speech therapy.
LightHouse (2016, SFO) – Offers a care management platform to healthcare providers for delivering care to chronic patients, and getting reimbursed from Medicare & Medicaid.
Affirm Health (2016, Nashville) – Provides workflow integration and automation software to help health providers comply with controlled substance monitoring programs.
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.
Onduo(2016, Minneapolis, $500M) – a JV between Sanofi and Verily focused on Diabetes. The company plans to use a combination of devices, software, medicine and professional care. The company claims to use a service-centric approach and support doctors in their efforts to treat their patients more effectively.
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, $77M) – 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
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.
MindMaze (2012, Lausanne, $118.5M) – Develops interfaces for neuro-rehabilitation, game training, and 3D imaging, using VR/AR and neurophysiological recording technologies.
Medication Adherence
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.
Care Coordination
Remedy Partners (2006, San Franciso, $95M) – Enables healthcare providers in developing and operating patient-centric episodic payment programs. Backed by Bain Capital ventures.
PatientSafe Solutions (2002, San Diego, $88.5M) – Provides smart point-of-care mobile solutions and innovating technologies enabling accountable care for healthcare organizations. Its flagship product, the PatientTouch System, delivers measurable safety and quality improvement by making care team workflows streamlined.
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, $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.
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.
EHR Platform
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.
Kareo (2004, Irvine, $137M) – Provides a SaaS-based practice management system to healthcare providers. Backed by Escalate Capital, OpenView, SVB Financial Group, Montreux Equity Partners, Silver Lake, Greenspring Associates, Western Technology Investment, Stripes Group.
Practice Management
We Doctor Group (2010, Hangzhou, $521M) – We Doctor Group, earlier Guahao 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, $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
Livescribe (2007, Oakland, $156M, Acq) – Provides smart CPOE solution platform for healthcare providers. Backed by Qualcomm, Greenhouse Capital Partners, Scale Venture Partners, Double Bottom Line Investors, Lionhart, TransLink Capital, Keating Capital, Presidio Ventures, Crosslink Capital, DBL Partners, Aeris Capital, VantagePoint Capital Partners. Acquired by Anoto in Nov 2015.
Awarepoint (2002, San Diego, $88M) – 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, $76M) – 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
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
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.
Virginpulse (2004, Framingham, $92M) – Provides hub of tools that foster employee engagement and wellness.Backed by Insight Venture Partners and Virgin Group.
Healthcare Delivery
Imaginehealth (2006, Midvale, $36M) – 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, $58M) – 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.
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, $65M) – Pharmacy Management solutions to pharmacies. Backed by OVP Ventures, Align Investments, Ignition Partners.
MedAvail (2012, Ontario, $36M) – Offers a self-service kiosk solution called the MedAvail MedCenter, automating the dispensing of prescription drugs and Over-The-Counter medications. Backed by Walgreens, Redmile Group, Adage Capital.
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.
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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