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Health in 2 Point 00, Episode 241| Papa, Sword, Trevueta, Trusted Health, Ieso, and Talkspace

Today on Health in 2 Point 00, Jess and I talk about fundraising efforts this past week, as well as leadership issues within Talkspace. Papa raises 150 million dollars, bringing their total to 240 million. Sword raises 189 million dollars, with a secondary of 26 million dollars, bringing their total to 320 million dollars. Trevueta raises 105 million, and Trusted Health raises 149 million dollars. Ieso raises 57 million dollars. Talkspace had no growth in their third quarter, and their founding team left the company while their COO resigns after a review of conduct at a company offsite event. -Matthew Holt

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Senior Caregiving Startup Papa: “Hanging Out & Helping Out” Backed by Health Plans & $91M in Funding

By JESSICA DaMASSA, WTF HEALTH

Since it was founded in 2017, “family-on-demand” senior care startup Papa has raised a whopping $91M from a veritable who’s who of health innovation investors. How has this startup that matches “authentically nice people” up with seniors to “help out and hang out” convinced the likes of Tiger Global, Comcast Ventures, and Canaan Partners (and those are just the investors who chipped in for Papa’s $60M Series C round this April) to invest? And, probably more importantly, how has Papa won more than 40 health plans as clients (a number set to triple for 2022) EAGER to foot the bill to provide their members with the support of a Papa Pal?

Founder & CEO Andrew Parker walks us through the business model and what it will and won’t be providing in the near future. Companionship, house help, chatting, and grocery shopping all fall under the purview of a Pal – so does filling non-clinical gaps in care like making annual check-up appointments, picking up prescriptions, and providing telehealth tutorials. Andrew says Pals are like “ninjas for a health plan,” building relationships and trust one weekly visit at a time. With 240 million people that could get access to a Papa Pal either via a Medicare, Managed Medicaid, or even employer sponsored health plan (good employees with aging parents need caregivers…) the potential for growth is tremendous. Will the biz hit a ‘supply’ issue? How long do Pals stick around? As we work to combat loneliness, isolation, and a myriad of social determinants of health issues within a rapidly expanding senior population, find out what Andrew thinks will keep Pals around and the service sticky for seniors, their real families, and their health plans.

Health in 2 Point 00, Episode 154 | Health Tech Rounds, Socialized Medicine, & the ACA

On Episode 154 of Health in 2 Point 00, follow @barkyboy (a dog wearing a Health in 2 Point 00 shirt!) on Twitter! Jess also asks me about Papa getting $18M in a Series B for their matching platform for college students, Optimize.health raising $15.6M in a Series A for their RPM platform, Joint Academy raising $23M for their physical therapy platform, and Maple Corp raising $75M for their Canadian telehealth platform in socialized medicine. Also, Matthew talks about his new piece on THCB where he wrote about what Biden should say to the Supreme Court Justices on the ACA. Matthew Holt

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Health in 2 Point 00, Episode 98 | Connected Health, Pear Therapeutics & the Sutter Settlement

Today on Health in 2 Point 00, Jess and I are at Connected Health in Boston. On Episode 98, Jess asks me about Sandoz breaking up with Pear Therapeutics; Papa raising $10 million to send college students to keep seniors company (and I’m bitter); and the massive news of the Sutter settlement after they were sued for price fixing and monopoly behavior. Catch us at HLTH in Vegas in a couple of weeks, too. —Matthew Holt