...the opportunity to bring Canary Care to a wider audience. Innovative assistive technology/TECS, despite the investments by major players, remains a difficult area for funding and adoption not only in the UK but also in the far larger market of the US and Canada. While we see a Best Buy acquiring GreatCall, we’re also reminded that GreatCall picked up the remnants of Lively for the IP and Healthsense for their assisted living customers and for the technology. The “name” health tech companies of the early ’00s are largely gone or no longer independent (Viterion, Living Independently, HealthSpot, Cardiocom, WellAware…) In... Continue Reading
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Rounding up mid-August: PCORI funds 16 projects with $85 million, InTouch’s Rite Aid deal, Suennen leaves GE Ventures, NHS lost 10K patient records last year
...recently partnered with RPM developer Vivify Health [TTA 19 Dec] to move into in-home and post-acute settings, is now moving into retail with Rite Aid. The letter of intent is to help Rite Aid build up the technology in their existing health kiosks in pharmacies and ‘alternative care sites’. Rite Aid has had a long standing interest in kiosks, including as one of the last customers of HealthSpot. With their Albertsons merger scuttled, Rite Aid is seeking other business and interest. One of InTouch’s executives is EVP of Marketing and Consumer Solutions Steve Cashman, who founded and headed HealthSpot. InTouch... Continue Reading
End of year action: Vivify/InTouch, InTouch/TruClinic, Medtronic, NYCEDC winners, ActiveProtective, Adidas exits wearables, Fitbit (updated)
...purchase DTC telehealth provider TruClinic furthering their move into home telehealth. TruClinic will be merged into InTouch. Heading it up will be recently appointed EVP of Marketing and Consumer Solutions Steve Cashman, who founded and headed pioneering but overly ambitious for the market health kiosk HealthSpot [TTA roundup here]. Release (Our update on the state of health kiosks here) Speaking of Medtronic Care Management Services, MCCM touted its VA Home Telehealth ties to Healthcare Analytics News. Intriguing claim: they’ve treated 310,000 veterans since 2011 (Cardiocom, the 2011 awardee, was purchased in 2013). VA itself credits only 156,000 patients to Home... Continue Reading
The ‘health kiosk’ idea is alive and kicking from New York to France
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2017/12/Kiosk1.jpg” thumb_width=”200″ /][Photo: NYP] The $40 million+ failure of HealthSpot Station last year [TTA 14 June 16] might have signaled the demise of the health kiosk (telemedicine + multiple vital measurement devices) concept. Basic stations with consumer engagement/mobile tie-ins such as Higi have been gaining traction at retail locations [TTA 30 Mar] such as RiteAid (which bought the assets and IP of HealthSpot) and Publix supermarkets. CVS MinuteClinics in northeast Ohio and Florida have allied over the past two years with Cleveland Clinic and American Well to integrate records and telemedicine. But the kiosk model is gaining a second... Continue Reading
TTA’s Friday roundup of interesting articles, updates and weekend reads
...Group buys France’s eDevice for $106 million. The aim seems to be integration of eDevice’s backend infrastructure to iHealth’s RPM devices. Mobihealthnews….A analysis of what went wrong at HealthSpot is in the new publication Telehealth & Medicine Today. A summary is that they had a business model that started out on point quite a while ago (2010) but then competitors and fresh technology ate their lunch (Editor’s term). They didn’t pivot to fit, moved too slowly and were overly wedded to their business model. A big problem was scaling costly kiosks and not finding the right places for them. While... Continue Reading
Unhappy endings? HealthSpot’s remains to Rite Aid, Theranos’ story to Hollywood
HealthSpot Station’s assets to Rite Aid, minus the ‘froth’. On Monday, drug store chain Rite Aid won the US Bankruptcy Court in Columbus, Ohio’s mandated auction for the inventory, most assets and IP for its entry bid of $1.15 million. According to Columbus Business First (subscription only), a touted second bid by a central Ohio investor group was $1 million–and stayed right there with no second bid. This group had invested $650,000 before HealthSpot entered Chapter 7. A dark horse third bidder, which came in at the last minute, never put money on the line. The Ohio business group leader,... Continue Reading
Is the clock at the funding pub pointing to ‘last call’? (Updated)
...to score $40 million in its first venture round. (Ed. note: I shop at Rite Aid–and have never seen one.)This is after the failure of HealthSpot Station, which burned through approximately $43 million through its entire short but showy life. The low-cost, largely exchange plan insurer Oscar Health raised $400 million this February ($727 million total) while UnitedHealth and others are dropping money-losing plans in most states. Over 50 percent of exchange co-ops went out of business in 2015, leaving doctors, health systems and patients holding their baggage. Again, low margins, high cost and high customer acquisition costs. We’ve previously... Continue Reading
HealthSpot winds out to Ch. 7 liquidation, assets for sale
...for the hardware, or the intellectual property of HealthSpot, is a very open question indeed. Some digging by this Editor has revealed a possible precipitating event to the company’s shutdown, and an obvious, non-recoupable drain on the time and funds of a teetering company. A District Court order issued 4 December on the patent infringement legal action by Nevada-based Computerized Screening [TTA 8 Jan] is now available online. It appears to have been conceded by Computerized Screening as “non-infringement on the basis of the absence of the limitation of “controller”” which is technically a win for HealthSpot. But HealthSpot then... Continue Reading
HealthSpot files for Chapter 7 liquidation (updated)
The shock continues with HealthSpot. On Wednesday the company filed for Chapter 7 liquidation in US Bankruptcy Court for the Southern District of Ohio in Columbus. The laundry list: assets of $5.2 million, about $3.5 million in inventory, and $23.3 million in liabilities, including convertible notes of $10 million from cable/broadband company Cox Communications, $6 million from investor Xerox and an undisclosed amount from the Ohio Development Services Agency. HealthSpot had raised close to $44 million since 2011. Their bankruptcy attorney David Whittaker cited cash flow; with only $1.1 million in revenue over the past three years, according to the... Continue Reading
Outsourcing of retail clinics–another reason for HealthSpot’s demise? (US)
...of direction and a need for cost cutting that wasn’t there a year ago. Walgreens is finalizing its merger with Alliance Boots and is acquiring Rite Aid’s 4,600 locations (less overlap) if regulatory approval is gained. The largest contract HealthSpot had was with 25 Rite Aid locations in Ohio. If their acquirer is outsourcing in-store clinics to health systems, a commitment to kiosks–especially ones which have to be staffed–makes little sense. And will CVS be far behind in outsourcing their clinics if the numbers work? Related articles on Walgreens’ clinic move: Healthcare Dive, mHealth Intelligence Earlier on HealthSpot Station’s closing... Continue Reading
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