Episode 54 of “The THCB Gang” was held on Thursday, May 13. Matthew Holt (@boltyboy) was joined by regulars: policy expert consultant/author Rosemarie Day (@Rosemarie_Day1); medical historian Mike Magee (@drmikemagee), THCB regular writer Kim Bellard (@kimbbellard) employer health expert Jennifer Benz (@jenbenz); and WTF Health host & Health IT girl Jessica DaMassa (@jessdamassa).
The topic ended up looking at the role of employers in dealing with inequality in health care, and whether the digitally enabled primary care navigation organizations could help. A great discussion!
Then video is below. If you’d rather listen, the audio is preserved as a weekly podcast available on our iTunes & Spotify channels.
Today on Health in 2 Point 00, the survey says digital health is optimistic! Find out more on the other side. On Episode 207, Jess asks me about Aetion getting $110 million bringing its total to $212 million working on real world evidence for pharma companies, and Indonesian telehealth company Halodoc gets $80 million. MSK startup Vori Health gets $45 million—can they compete with Hinge? Next, Heartbeat Health gets $20 million for cardiovascular health. Finally, Andreesen throws $10.5 million in a Series A to Memora Health which is a patient messaging system. Don’t forget to join us on Clubhouse tonight for more! —Matthew Holt
Last year was a remarkable time for digital health. Obviously it was pretty unusual and tragic for the world in general as the COVID-19 pandemic continued to wreak havoc. We mourn those lost, and we praise our front line health workers and scientists. But for digital health companies, in almost no time 2020 changed from fear of a market collapse to what became a massive funding boom.
But no-one has reported from the ground what this means for digital health companies, of which there are perhaps 10-15,000 worldwide with maybe 6-8,000 based in the United States. Despite the headlines, most are not pulling down $200m funding rounds or SPACing out. So working with professional services firm Wipfli, we at Catalyst @ Health 2.0 decided to find out what digital health companies experienced in this most extraordinary year.
Between Thanksgiving 2020 and mid-March 2021, we surveyed more than 300 members of the digital health ecosystem, focusing on leaders from more than 180 private (and a few public) digital health companies. We asked them about their market, their experience during COVID-19, and what they thought of the environment. We also asked them about the mechanics of running their businesses. The results are pretty interesting.
The Key Message: COVID-19 was very good for digital health companies–on average. Most are very optimistic but, despite the massive increase in funding since the brief (but real) post-lockdown crash, most digital health companies remain small and struggling for funding, revenue, and customers.
We also heard from investors, and a bigger group we called “users” (mostly payers, providers, pharma, non-healthcare tech companies, e-patients & consultants). While these “users” also saw a big trend towards the use of (and, to a lesser extent, paying for) digital health tools and services, they were not as gung-ho as were digital health companies or investors, who were even more optimistic.
The summary deck containing the key findings is below and there is more analysis and commentary below the jump.
Today in #Healthin2Point00, Jessica is not impressed by my stock trading and it’s all Walmart’s fault (well, Amazon’s too)! Part of the reason for that is Walmart buying a no-name telehealth company–well it has a name but not one anyone knows. There’s a SPAC exit on the horizon for fast growing remote clinical trials company Science37, and funds for Vim which does scheduling (we think!), and Zoe which sells a diet so expensive you might actually stick to it!–Matthew Holt
TODAY Tuesday, May 11th at 2pm ET/11am PT — RSVP here
Back in November of last year, Catalyst @ Health 2.0, supported by professional services firm Wipfli, launched the Survey on the State of Digital Health, with the goal of creating a comprehensive analysis of the impact of COVID-19 on digital health companies and the rest of the ecosystem. Between the end of 2020 and thru March 2021 we received detailed responses from 300+ digital health aficionados including 180 digital health companies. We’re sure this is the most detailed assessment of what’s happening on the ground in digital health companies you’ll find anywhere.
Join us at 2pm ET/11am PT on Tuesday, May 11th for The Catalyst @ Health 2.0/Wipfli Survey on the State of Digital Health Results Presentation, you’ll see the full results from me & Catalyst’s Elizabeth Brown, hear from Wipfli’s Paul Johnson & Girish Ramachandra, and get reaction to the results from our guests Ryan Johnson, lawyer at Fredrikson & Byron; Sunny Kumar, investor at GSR Ventures;, and digital health CEOs Helena Plater-Zyberk, Supportiv; and Mudit Garg, Qventus.
I think the zoom is full, but you can see it livestreamed below at 11 am PT – 2pm ET – Matthew Holt
Today on Health in 2 Point 00, it’s time for the silliness to end, and for Jess DaMassa and I to take digital health deals seriously. Groups gets $60 million from a bunch of famous investors. Oura, they of the tracking ring used by the NBA, gets $100m, and TPA substitute Collective Health gets a whopping $280m from a big Blues plan. And our favorite privacy maven Deven McGraw gets a mention as her company Ciitizen buys interoperability tech company Stella. Did we maintain our serious demeanor? You’ll have to watch to find out but you can probably guess the answer! —Matthew Holt
Today on Health in 2 Point 00, I am over the moon excited about Chelsea’s Champion’s League semi-final win. But on Episode 204, we have some big deals to cover too. First, Vida Health gets $110 million in a Series D bringing their total to $188 million. Next, R1 RCM acquires VisitPay for $300 million, integrating patient financial engagement into their revenue cycle management offerings. It’s Mental Health Awareness Month, and mental health startup Headway raises $70 million – do they have a chance in that crowded space? Finally, Neuroelectrics gets $17.5 million for their neurostimulation cap helping with epilepsy and depression.—Matthew Holt
Episode 53 of “The THCB Gang” was live-streamed on Thursday, May 5 at 1pm PT -4PM ET. Matthew Holt (@boltyboy) was joined by regulars: futurists Ian Morrison (@seccurve) & Jeff Goldsmith; privacy expert and now entrepreneur Deven McGraw @HealthPrivacy; policy expert consultant/author Rosemarie Day (@Rosemarie_Day1); medical historian Mike Magee (@drmikemagee), & THCB regular writer Kim Bellard (@kimbbellard)
Matthew was celebrating Chelsea’s Champion’s League Semi final win, but the rest of the gang talked about some big picture issues behind public health, COVIUD and health care policy!
The video is below but if you’d rather listen to the podcast. it will be available on our iTunes & Spotify channels from Friday.
It’s another mega-round for a digital health chronic condition management startup, as Vida Health closes its $110M Series D – AND adds a pair of big-name insurers to their cap table. Vida’s Founder & CEO, Stephanie Tilenius, gets into the good news about the funding round, which was led by growth equity fund, General Atlantic, and brought managed care giant Centene (a Vida customer) and multinational insurer AXA into the mix.
Beyond the funding – and the extra “insurance side” endorsement it gives to the virtual chronic condition care space – what’s interesting about Vida now is how its “whole person” approach, which integrates physical health care and mental health care, is very much tilting to mental health these days.
While overall revenue has tripled since last year, Stephanie talks about how the 6000% year-over-year growth for her mental health services has played into that rise, and how the new funding will be used to further expand those offerings.
Does this mean we need to start naming Vida as a competitor to digital mental health companies like Ginger, Modern Health, and Talkspace? And, how does this impact their positioning among the field of other health tech chronic care co’s? For those who may have forgotten, Vida went out the gate with a platform that was designed to treat both the mental-and-physical aspects of chronic disease, while others like Omada and Livongo-now-Teladoc acquired-and-integrated behavioral health providers to augment their physical-first offerings and satisfy customer demands. Will it now prove easier for Vida to scale-up and scale-out, having been built for both “mind and body” from the very beginning? Stephanie’s got her opinion, big plans, and now a treasury to rival those key competitors across both fields of care. Tune in for all the details!
Today on Health in 2 Point 00, Jess hardly knows the value of $100 million anymore – is it a salary, is it an entire fund, is it one single round? On Episode 203, Jess and I cover Vocera buying PatientSafe Solutions and Privia going public with a $3.7 billion market cap. Cash-paid healthcare services company Sesame gets $24 million in a Series B, Ceribell gets $53 million in a Series C for its portable EEG, and Summus Global gets $21 million in a Series B providing virtual specialist care. —Matthew Holt