Chicago-based Contextmedia Health raises $500 million
Contextmedia has never raised money before. The pre-money valuation is purportedly at $5 billion. Goldman Sachs, Alphabet and the Pritzker family are amongst the investors. The company is involved in patient education at the point of care. Contextmedia was formed only in 2006 and covers 231,000 providers that service 500 million patient visits annually. The promise of those encounters and how they can be monetized is the real reason behind the big price tag.
Minneapolis, MN-based next gen insurer, Bright Health, raises $160 million
This will bring the total funding for the company to $240 million. Like Oscar, Bright is built on a nimble technology platform and has a special focus on prevention. The company has cut one-off deals with many of the leading providers in its respective markets. This close relationship is one of the main differentiators of the Bright. Bright sells policies both on exchange markets as well as via brokers.
NYC-based ClassPass raises $70 million
The company has raised total of $155 million in funding. The new money has been earmarked for expanding ClassPass’s virtual fitness capabilities. The round was led by Singapore’s sovereign fund, Temasek. ClassPass claims that over 35 million of bookings have been made on its platform since 2011. The company has 8,500 partners in 39 cities.
Watch for more actions by Temasek. The fund recently purchased GHX in a hotly contested auction. GHX is a premier supply chain software covering the healthcare industry amongst other verticals.
San Francisco-based Omada Health does it again with a $50 million raise
The company has raised close to $130 million since 2011. Omada was the first digital “drug trial” to prove its efficacy for treating diabetes. The evidentiary practice not only got a lot of business for the company, it also won it a Medicare reimbursement code. The round was led by Cigna which has struck a close partnership with the company offering the services for free to certain corporate clients. The doubters who questioned the wisdom of the early investors in Omada are nowhere to be found.
Diabetes data management company, Glooko, based in Mountain View, CA, raises $35 million growth round
Glooko is an excellent example of a successful pivot. The company started as a maker of adaptor cords to connect glucometers to smartphones. The current business model revolves around collecting and analyzing the data with sophisticated AI technology. Glooko provides services to pharma, payer and provider clients. The aspiration of the company is to go global and this money will give it a head start. The first countries under the plan are France, Germany, UK and then moving to Asia. Glooko has raised $70 million to date.
Alto Pharmacy based in San Francisco raises $23 million in series B
The company has rebranded from its old name ScriptDash. Alto is a same day delivery services for prescription medication. Funds will be used to expand the geographical coverage starting with LA. In its hometown, the company has delivered more than 100,000 prescriptions to 12,000 patients. Welcome to the DoorDash for drugs.
Trice Medical of King of Prussia, PA receives $19.3 million in Series C
Sensors, cameras, software. When you combine smart technologies, you can actually bring institutional grade diagnostics to the doctors’ offices. Trice Medical enables orthopedic diagnostics to take place in ambulatory settings. With the help of the fully integrated camera-enabled technology, physicians can more immediately diagnose the patients and in many cases, eliminate the need for imaging studies.
Chartspan of Greenville, SC raises $16 million
Chartspan’s has a wide range of solutions spanning practice management, mobile patient engagement and record management tools. The services are offered to health systems and ambulatory practices. The company first started as a consumer app – the most downloaded medical app in Apple store – helping patients organize their medical files. Now the company helps providers to take advantage of Medicare $41 per patient per month Chronic Care Management program. To be eligible for the program, ChartSpan has set up a call center where nurses and other certified clinicians can communicate with patients off hours. Very clever idea indeed.
Mindstrong of Los Alto, CA secures its first round of funding for $14 million
The whole world of mental well being is getting a huge boost. From meditation apps to apps that can diagnose cognitive deficiency to companies that are involved in brain assessment, the field is indeed flourishing. Mindstrong has developed an algorithm that can assess the mobile user’s cognitive state by how they use the phones. These include the measurement of processing speed, attention, memory and executive function. Verily’s veteran, Dr. Thomas Insel has joined the company as President.
VoxelCloud, based in Los Angeles, CA raises $10 million
The funding was led by Sequoia Capital. The company had previously raised $5.5 million. The focus is on image interpretation and analysis. Voxel has built a knowledge graph based on medical semantics and AI models. The industry is moving towards automatic reads of images. We have ways to go to get there but it is only matter of time.
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