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#HealthTechDeals Episode 6: Alto Pharmacy, Althelas, A Place for Mom, And Summus Global

In Episode 6 of Health Tech Deals, Jess and I might be two new characters and Sesame Street! Keep watching to find out which ones. Some new deals, brought to you by the letter A: Alto Pharmacy raises $200 million; Athelas raises $132 million; A Place for Mom raises $175 million; and Summus Global raises $22 million. -Matthew Holt

Jessica DaMassa:              Well, hello, Matthew Holt. I have an important question for you. It looks like all of the deals we have to talk about today start with the letter ‘a’, which leads me to believe that we might be two new characters on Sesame Street. Now, are we more like Ernie and Bert or Oscar the Grouch and Big Bird? Those are the important questions that we’re asking here on the February 2nd episode of “Health Tech Deals”.

Matthew Holt:                   So Jessica. I’m very tall, so I must be Big Bird, and you must be Oscar the Grouch.

Jessica DaMassa:              Don’t think so.

Matthew Holt:                   All right? Maybe the other way. Anyway, it’s all brought to you by the letter ‘a’.

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Spotify, Joe Rogan, and Health Care

By KIM BELLARD

Here’s a sentence I never thought I’d have to write: the most interesting discussion in healthcare in the past week has been about Neil Young versus Spotify.  

For those of you who have not been following the controversy, Neil Young gave Spotify an ultimatum: it could have his music or Joe Rogan, but not both.  “I am doing this because Spotify is spreading fake information about vaccines – potentially causing death to those who believe the disinformation being spread by them.”  Spotify chose Rogan.

Mr. Young was not the first to express alarm at some of the Covid “information” promoted on Mr. Rogan’s podcast, The Joe Rogan Experience (JRE); in December, for example, several hundred scientists from around the world issued an open letter to Spotify specifically about JRE, warning:

By allowing the propagation of false and societally harmful assertions, Spotify is enabling its hosted media to damage public trust in scientific research and sow doubt in the credibility of data-driven guidance offered by medical professionals.

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Inside Wheel’s $150M Series C: CEO Talks “Long Game” for Stealthy Virtual Care Infrastructure Biz

By JESSICA DaMASSA, WTF HEALTH

Wheel’s CEO Michelle Davey says the white-label virtual care startup’s $150M Series C – led by notable health tech mega-funders Lightspeed Venture Partners & Tiger Global – is “really about the long-game.” We get into the details of this purposeful funding round and what it means for the future of Wheel, as well as the play-by-play analysis of what happened over the past 9 months, since the company closed its $50M Series B. (FYI: Wheel’s total funding is at $216 million to-date.)

Wheel is currently running behind-the-scenes for an undisclosed client list of brands, facilitating 1.6 million virtual visits a year for digital health companies, digital pharmacies, retailers, and, now, even traditional healthcare providers. That number is expected to triple by the end of 2022, and we get into what’s fueling that growth and whether or not Michelle believes that this institutional push toward online care will persist as the pandemic wans and the world continues re-opening.

Armed with this fresh funding, how will three-year-old Wheel continue to differentiate its offering from legacy telehealth infrastructure providers like Amwell and Teladoc? How will it win against their legacy relationships with legacy healthcare providers? Or, is Wheel’s big bet on the continued scaling of what Michelle calls “next generation healthcare”? Wheel has added A LOT of tech to its own infrastructure recently, providing asynchronous options, better clinician matching, more triaging and navigating, and, with this funding, are is now talking about adding “diagnostic services” to round out their service line. What, exactly are we talking about here in terms of business model evolution? Tune in and find out what this stealthy startup is up to!

#HealthTechDeals Episode 5: Infermedica, Wellster, Casana, Babylon, and Atlas Health

How many more beloved TV characters does Peleton have to give a heart attack to before somebody steps in? Jess can’t take it anymore, and we hash out some new deals: Infermedica raises $30 million; Wellster gets a fresh $20 million; Casana the smart toilet seat maker raises $30 million; Babylon buys DaytoDay Health and Higi; Atlas Health raises $40 million. -Matthew Holt

TRANSCRIPT

Jess DaMassa:

Matthew Holt, how are we not talking about one of the single greatest health tech health crises of our time?

Matthew Holt:

What could that possibly be?

Jess DaMassa:

How many more beloved TV characters does Peloton have to give a heart attack too before somebody steps in? I can’t take anymore.

Matthew Holt:

I think the SEC is about step in. Is that for the heart attacks or is that for all the stock sales by the CEO?

Jess DaMassa:

Causing a real heart attack but for a whole different group of people. It’s January 26th episode of Health Tech Deals.

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Infermedica raises a big round and demos new product

Infermedica is a company that started by creating symptom checking and chatbot functionality in Poland back in 2012. It’s spread to delivering that patient-facing diagnosis functionality via API and now as preparation for a physician visit. Today they announce a $30m series B and demo their new product which helps prepare a visit, and integrates into the clinician workflow. I spoke with CEO Piotr Orzechowski and Chief Product Officer Tim Price–Matthew Holt.

The Tests were a Test

By KIM BELLARD

Raise your hand if you’ve gone out shopping for home COVID tests, only to find empty shelves and signs apologizing for the lack of availability.  Raise your hand if you’ve been able to obtain one, but were surprised at its cost.  Raise your hand if you took one and weren’t quite sure you did it right, or wondered who, if anyone, would be getting the results.

Vox says that the COVID home test reimbursement process “is a microcosm of US health care,” and I think they’ve understated the situation.  Testing has been a microcosm for the US health care system generally.  It was a test, and our healthcare system failed.

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The Covid Vaccine’s PR Crisis: Health Innovation vs the Take-Down Power of Disinformation

By JESSICA DaMASSA

Misinformation and disinformation (intentionally wrong information) have plagued the storyline of the Covid19 vaccine since the early days of its development, creating a healthcare communications crisis that has not only stalled U.S. vaccination rates, but has also raised questions about how medical and scientific experts will ever again win trust across audiences and communications platforms that are becoming increasingly fragmented, and sometimes hostile.

Yesterday, on the two-year anniversary of the first Covid case in the U.S., I sat down with Dr. Carlos del Rio, Professor of Infectious Diseases & Epidemiology at Emory University, and Jon Reiner, Editorial Director at 120/80 MKTG, to check-in on the vaccine conversation and, more generally, what we in the health innovation community can learn from this situation as we attempt to introduce other new medicines, breakthrough technologies, and scientific advances to the world.

Dr. del Rio served as a vaccine expert in a public service campaign that 120/80 MKTG put together called “Just the Facts on Vax,” which sought to combat vaccine disinformation early-on with a series of bite-sized, social-media-ready videos that put infectious disease experts front-and-center to answer common questions about the vaccine. The full campaign can be viewed on 120over80 MKTG’s YouTube channel, but can it still have an impact? And, in the grand scheme of things, when it comes to people’s personal health, evolving medical or scientific information, and a litany of communication platforms that can position nearly anyone as an expert, how do real experts build trust? An interesting – and timely – chat about the power of information and the “trusted expert” archetype in the context of one of the most unique healthcare stories of our lifetime.

The Intersection of 911 and 988: Decriminalizing Mental Health Crises

By BEN WHEATLEY

Effective July 2022, a new three-digit telephone number (988) will become the number to call in the case of mental health emergencies. Currently, 911 serves as the default number for people to call, placing the acutely mentally ill on a direct track toward police involvement. The new system is meant to ensure that every person experiencing a mental health crisis will receive a mental health response instead—help, not handcuffs.

In November 2021, 15 prominent organizations including NAMI (the National Alliance on Mental Illness) and Well Being Trust joined together to reimagine what a crisis response system might look like. Their Consensus Approach included the response to mental health crises, cases of suicidal behavior, and instances of substance use disorder. They argued that “Without a systems approach to transformation, simply implementing a new number to call will have little impact on those who are in need.” 

The Consensus Approach detailed seven critical pillars upon which a new crisis response system could be based, including Equity and Inclusion, Integration and Partnership, and Standards for Care. Pillar #4 stated that “Law enforcement should take a secondary role in crisis response.” This, they said, would be “a paradigm shift” that recognizes mental health conditions as “matters of health care, not criminal justice.” 

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Interview & Deep Dive into Summus Global

Summus Global is company with a very interesting model that gives a glimpse about the future of virtual care. It delivers online specialty care and much more to employers. You might think that means it is in the second opinion space, or in the care navigation space. And you’d be right, but not completely right. Julian Flannery the CEO tells me that it’s much more than that and has greater ambitions too. I took really deep dive into Summus with conversation with Julian and a thorough demo of the service from Dennis Purcell the COO–Matthew Holt

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