Today at Health in 2 Point 00, Jess and I are presenting at the Going Digital: Behavioral Health conference today — tune in later for that. On Episode 212, our buddies at DayTwo get $37 million for the gut microbiome. Hello Heart raises $45 million, bringing their total to $68.2 million – this is for high blood pressure management. Pack4U, which is like the knockoff version of Pill Pack, raises $20 million. Swedish telemedicine company Doktor.se raises $50 million, and Curebase raises $15 million for decentralized clinical trials. —Matthew Holt
Today on Health in 2 Point 00, Jess gives us a little tour of Chicago before we dive into some deals. Noom raises $540 million, bringing their total to $657 million with a $4 billion valuation. What are they going to do now with all this money? Digital therapeutics company Akili raises $160 million – maybe this will bring them out of ADHD. Unmind, a mental health company out of the UK, raises $47 million, Eleanor Health raises $20 million for their addiction-focused mental health clinic, and finally Clearing raises $20 million in a Series A tackling chronic pain. —Matthew Holt
This week on Health in 2 Point 00, we’ve got big money, acquisitions, CVS Health starting its own decentralized clinical trials business, AND we’ve got Morgan Health. On Episode 210, Jess asks me about Babylon buying Meritage IPA, looking to add their digital front end to this doctors’ network, and Ro acquiring Modern Fertility for $225 million. Next, telehealth company Wheel gets $50 million in a Series B and digital pathology startup PathAI gets $165 million. Finally, SymphonyRM gets $25 million in a Series B. —Matthew Holt
Today on Health in 2 Point 00, we catch Jess on the road again! On Episode 209, Jess is shocked at Lyra’s $200 million raise, bringing their total to a whopping $675 million – and their valuation is somewhere in the $4 billion range. What does this mean for the mental health space? Next, DrFirst gets $50 million. They were doing e-prescribing back in the day, what are they up to now? Jasper Health raises $6.75 million for a new play in cancer navigation. Finally testing company Cue Health raises $235 million, bringing their total to $405 million, plus they’ve got some really big federal grants. —Matthew Holt
Episode 55 of “The THCB Gang” was live-streamed on Thursday, May 20 at 1pm PT — 4PM ET.
Today Jess is bored with consistent $100m+ deals and yawns in the face of the Tiger! No matter– I explain what Cedar acquiring Ooda for $425m means, why $100m for Medically Home is a departure for Mayo but not Kaiser, and what the heck Huma is all about (OK, I don’t really know). Does Jess get more interested by the end? You’ll have to watch to find out!–Matthew Holt
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
By MATTHEW HOLT & ELIZABETH BROWN
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.Continue reading…
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 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