You may have thought the days of huge digital health rounds were over. Not quite yet! CEO Kuldeep Singh Rajput talks with Matthew Holt about Biofourmis’ $300m Series D raise. They’re in the business of sensors, digital therapeutics and chronic specialty care (cardiology/oncology) and hospital at home. And as if that wasn’t enough, they have a solid plan for both organic & “inorganic” growth!
It’s Health in 2 Point 00’s 150th Episode or Sesquicentennial anniversary! On this episode, we have the return of Softbank money—$100M goes to Biofourmis platform for AI & Clinical Trials. Next, Amwell prices their IPO at $14-16 a share, and Grand Rounds raises $175 million led by the Carlyle Group. Finally, we have real foul play to report – former Zocdoc CEO Cyrus Massoumi filed a lawsuit accusing his fellow cofounders and CFO of foul play, so Jess asks me to dish the dirty details. —Matthew Holt
Today on Health in 2 Point 00, we have a viewer question! For our friends who are wondering what will happen to all the IPOs that were supposed to happen this year, I weigh in on how this crisis will impact IPOs and startup funding. On Episode 114, Jess asks me about the stimulus package granting $117 billion to hospitals and for my thoughts on all the startups coming up with ways to address COVID-19. A few startups that come to mind include Conversa with its virtual care conversation, Coronavirus Health Chats, Biofourmis which is looking for ways to track infected people earlier through its AI-powered arm sensor, and Surveyor Health leveraging its data analytics platform as well. For more on this, check out covid19healthtech.com where my colleagues at Catalyst have put together a resource hub for health tech solutions. —Matthew Holt
Today on THCB Spotlight, Matthew catches up with Kuldeep Rajput, the founder and CEO of Biofourmis. Biofourmis uses biomarkers and sensors for health management, in pursuit of this dream of predicting disease before it happens so we can improve and health outcomes. The key question here is, how do you take a known pharmacotherapy and combine that with a digital solution so that it can synergistically act on patients to drive meaningful outcomes?
Biofourmis announced this week that they are acquiring Biovotion, as well as a commercialization deal with Novartis. Why did a device-agnostic platform decide to acquire a biosensor company? For the contract with Novartis for a major rollout of their heart failure platform across Asia—what are they trying to accomplish?