Search Results for 23andme

News roundup: Ancestry sells 75% to Blackstone, Cornwall NHS partners with Tunstall, most dangerous health IT trends, Slovenski departs from Walmart Health

...23andMe saw their consumer businesses crater late last year, with layoffs in January and February. It’s an example of a quickly saturated market (one test and you’re done) flogged by annoying TV commercials over the holidays [TTA 13 Feb]. Where the profit is, of course, is not in consumer tests but in selling the genomic data to other companies, something which the market leader, 23andMe, realized early on with half-ownership by GSK ($300 million, a real bargain). 23andMe is also intensively marketing as a premium subscription service updates on health information derived from member testing. Ancestry has followed, but reportedly... Continue Reading

Is the bloom off the consumer DNA business? It’s past time for a Genomic Bill of Rights. (updated)

Perhaps a bit of sanity enters. Ancestry, the largest vendor of home-based tests for genetic testing to trace ancestry and seek health information, announced layoffs of 6 percent, or about 100 people, from its Utah and California offices. This follows on post-New Year layoffs at chief rival 23andMe of 14 percent of its staff, also about 100 people. The slowdown in the consumer appeal of genetic testing is apparently across the board. While one hears of genetic tests being given for holidays and birthdays, there is little repeat need. The market was easily saturated: the early adopters have done their... Continue Reading

A Practice Fusion coda: an insider’s perspective on the pressure to ethically breach an ‘objective’ service for revenue

...crossing of the line after Mr. Howard’s departure with a new pharma-minded team. The evidence in the CDS lies in the citations funded by–pharma and biomed companies. The inevitable result: Allscripts, now the owner, settling for $145 million with the DOJ and having ‘kickbacks’ attached to their business. Dr. Reider is now CEO of the Alliance for Better Health in Albany, NY. Docnotes: When sponsored CDS is a crime This is hardly the first instance of the blurring of boundaries between ethics and revenue. All those paying to get their genetic history from 23andme or Ancestry.com ought to consider that... Continue Reading

CB Insights names a Top 150 of digital health startups

...C is notable), top well-funded companies, and ‘unicorn startups’. Unlike Rock Health, CB Insights also looks at where in the world the startups are from: 116 in the 150 from the US, 17 from Asia, 16 from Europe, and 1 from Canada (League employee health benefits). Many of the usual suspects are here: 23andMe, Babylon Health (UK), American Well, Doctor on Demand, Proteus Digital Health, Iora Health, MDLive, Oscar, One Medical, the relentlessly advertised (in US) Noom, TytoCare, China’s WeDoctor and GoodRx (which last month acquired telemedicine provider HeyDoctor). Others are surprising in various aspects: the new well-wired Medicare Advantage... Continue Reading

SNF emergency telehealth provider Call9 shuts down most operations, after $34M raise (updated)

...with a clear path to reducing highly expensive ER/ED admissions in long-term care–a major CMS goal–by over 50 percent and saving several millions per year per facility, additional longer-time frame funding wasn’t in the offing despite a hefty Series A in 2016 and Series B in 2017 with investors like Redmile, Index Ventures, Refactor Capital, and Y Combinator, including 23andMe’s Anne Wojcicki and actor/investor Ashton Kutcher. Perhaps, as Dr. Peck put it in the CNBC article, it’s the difference between immediate fee-for-service revenue versus longer-term value-based care which is built on savings and outcomes for Medicare, Medicaid, and private insurers,... Continue Reading

The Theranos Story, ch. 60: becoming a Cautionary Tale of Silicon Valley Ethics

...funding of late: Nurx over $41 million and uBiome over $100 million. The Silicon Valley rules–fake it to make it, and move fast, break things–once again blowing back on what may be good companies. The temptation may be too great for these health tech startups, something reflected on in this CNBC article. TechCrunch, which breathlessly hyped Theranos back in the day, while duly noting and linking to the programs on How Theranos Fell, puts on its hair shirt for Dear Hollywood, here are 5 female founders to showcase instead of Elizabeth Holmes. Interestingly, one is not Anne Wojcicki of 23andme.... Continue Reading

Where’s the evidence? Healthcare unicorns lack the proof and credibility of peer-reviewed studies.

...dearth of peer-reviewed research among healthcare unicorns–and that it’s detrimental. It measured whether these unicorns published peer-reviewed articles and whether they publish highly-cited (in other publications) articles; compared them against companies with lower valuations; and whether founders or board members themselves impacted the scientific literature through their own citations. The meta-study looked at 18 current and 29 exited healthcare unicorns. Highlights: Two companies–23andMe and Adaptive Biotechnologies published almost half of all unicorn papers–196 combined Three unicorns (Outcome Health, GuaHao and Oscar Health) had no published papers, and two more (Clover Health, Zocdoc) had published just one Seven of the exited... Continue Reading

Soapbox: Big Genomics and DNA testing–why we need a Genomic Data Bill of Rights

[grow_thumb image=”http://telecareaware.com/wp-content/uploads/2015/03/DNA-do-not-access.jpg” thumb_width=”150″ /]This week, consumer genomics testing company 23andMe announced that outside app developers would no longer have access to raw genomic data, as they have had since 2012. They will continue to have access to data through reports generated by the company. 23andMe cited privacy concerns–wisely, in this Editor’s opinion, to safeguard this burgeoning area of digital health. Seeking Alpha TimiHealth is an affected firm that seeks to move customer data, with consent, to an allegedly more secure blockchain platform, TimiDNA, citing 23andMe’s monetization of their data and CMS’ Blue Button initiative, a recent meeting in which 23andMe... Continue Reading

2017’s transition in digital health funding: is it maturity or a reconsideration?

...overlay of video and exercise community.) Seven $100 million + mega-deals front-loaded in the first half of the year. Second half’s sole big deal was genetic testing and data marketer 23andme. The dominant category of business? Consumer health information represented by Outcome, 23andme, PatientPoint, PatientsLikeMe, and ShareCare, most with a B2B2C model. Looking at deals by stage, not surprisingly the funding at D and later rounds soared to an average size of $74 million (from 2016’s $46 million). Seed and A rounds’ average funding at $7 million, while the majority, hasn’t varied much since 2011. Series B funding was also... Continue Reading

StartUp Health’s Q3 is an even crazier $9bn YTD

...than ever at an average $18 million versus $14 million in 2016 Half the deals they tracked were in personalized health and patient/consumer experience, a distinct difference from Rock Health’s shift to B2B. Population health held its own. They tracked more mega-deals YTD due to broader category and ex-US. Rock Health’s lead this quarter of 23andMe was only #6 on the list, surpassed by Auris, Peloton, Guardant Health, Outcome Health, and Grail. The Bay Area leads for deals substantially YTD, with NYC, Boston, and Chicago combined still trailing Remember that StartUp Health takes a wider sample than Rock Health [TTA... Continue Reading