One Drop just landed a $98.7M deal with Bayer — and we got the details from CEO Jeff Dachis. The timing of this deal is nothing short of impeccable: less than a year after the life sciences giant led One Drop’s Series B with a $40M investment, and amidst a veritable funding frenzy aimed at growing digital health companies focused on chronic condition management. So, how is One Drop planning to use this investment (part Series C/part development fees) to expand their data science platform known for diabetes and hypertension into some of Bayer’s biggest areas of focus — cardiology, oncology, and women’s health? And how does this even-closer relationship with such a consumer health brand help One Drop further evolve the retail side of its go-to-market strategy? Don’t forget — One Drop is sold direct-to-consumer via CVS, Walmart, and Amazon in addition to the more traditional routes via employers and payers. It’s a full breakdown of the deal and a walk through the key points of differentiation Jeff sees as integral to shaping One Drop’s move for greater global market share.
Today on Health in 2 Point 00, Jess asks me about the big news that Google Cloud has entered into a partnership with Amwell and invested $100 million into the company—looks like their IPO is really a thing! OneDrop gets $98.7 million in a partnership with Bayer, following at $40 million partnership last November, in a funding and development agreement. Outset Medical files their S1 and is going to go public, looking for $100 million for their portable dialysis system, and finally Podimetrics raises another $8 million for their foot ulcer detection platform for diabetics.—Matthew Holt
Today, we’re back with a serious episode of Health in 2 Point 00. On Episode 119, Jess asks me about RDMD raising $14 million; this is a company which groups patients with rare diseases together to gather real-world data. Maternity-focused health IT company Dorsata raises $5.2 million, and this is basically an EMR prenatal tracker. Next, XRHealth raises $7 million for its virtual reality telehealth platform. OneDrop acquires the assets & IP of Sano Intelligence’s noninvasive CGM patch, and Akili rolls out its video game for kids with ADHD after the FDA relaxed its regulation of digital therapeutics for mental health. —Matthew Holt
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