Without a splash or fuss, Owlet reintroduced its baby monitoring sock as the Dream Sock last month. Formerly known as the Smart Sock, Owlet got into FDA Hot Water in October [TTA 4 Dec 21] with their marketing the Smart Sock, which monitored sleep patterns, blood oxygen saturation, and pulse rate, as a medical device that would fall under 510(k) marketing clearance requirements, including premarket approval (PMA). The Smart Sock and Smart Duo were pulled from market on 22 November. The Dream Sock, according to Owlet’s product page, is all about baby sleep, measuring sleep quality indicators, including wakings, heart... Continue Reading
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US/EU 2021 healthcare VC funding soared 65%, but health tech performance slumped 28%–and 2022 surprises
...right match before their two-year window to complete a merger and reflecting greater SEC scrutiny of blank checks. Of those who ‘de-SPAC’ed in 2021, Talkspace and Owlet led in market losses, 80% and 73% respectively. Post-IPO performance dropped 28%, led by insurtechs Oscar, Bright Health, and Alignment Health There were 122 M&A deals. The $63 million median value was down 25% from 2020. marking a shift to vertical integrations in care continuums or horizontal to capture consumer bases. 2022 The Year of M&A and Acquire-to-Hire? The end of the report sounds a cautionary note to health tech ‘bulls’. Expect “massive”... Continue Reading
Owlet sock pulled from US distribution after FDA warning letter
...be affected. There are Owlets in the reseller pipeline, such as Amazon, which have now been rendered non-working. The Owlet Smart Sock can be sold outside the US, but not from the website. What is surprising from the FDA letter is that they have had this issue with Owlet for five years. From the letter: “Since 2016, the FDA has corresponded with Owlet that the Owlet Smart Sock meets the definition of a device under the FD&C Act and does not fall under the compliance policy for low-risk products that promote a healthy lifestyle (General Wellness guidance).” The latter is... Continue Reading
News and deals roundup: Owlet’s $1B SPAC, Carbon Health’s $350M Series D, Series Bs by Woebot Health and b.Well, digital health rakes in $15bn
Baby monitoring system Owlet closed its SPAC late last week with Sandbridge Acquisition Corporation. It is now trading on the NYSE (OWLT) for around $8 per share. With Sandbridge’s investment and the concurrent private placement (PIPE), Owlet now has $135 million and a valuation of over $1 billion, far exceeding the $325 million estimated [TTA 17 Feb]. Owlet started in 2013 with a ‘Smart Sock’ (right) at $299 using pulse oximetry to monitor baby heart rate, oxygen levels, and sleep patterns with readouts via their app, but has expanded to include an Owlet Cam and a Dream Lab to encourage... Continue Reading
Deals and news roundup, April Fool’s Edition: SOC Telemed’s $196M acute care telehealth buy, HIMSS takes over SCAN Health, Livongo’s Burke joins Owlet board, CirrusMD text app raises $20M
...in 2019. HIMSS release, Healthcare IT News. Zane Burke, former CEO of Livongo, has joined another board–this time, with ‘sock’. Mr. Burke joins the board of Owlet, the baby monitoring sock company. In February [TTA 17 Feb], Owlet announced their SPAC estimated at $325 million. The transaction is expected to complete in Q2. Becker’s Health IT CirrusMD, an on-demand text-first telehealth app, raised $20 million for its Series C led by The Blue Venture Fund and 7wire Ventures. Total funding to date is $47 million. Visits cover primary or urgent care, chronic condition management, women’s health, pediatrics, and behavioral health... Continue Reading
Funding roundup, 16 Feb: virtual mental health gains two (more) unicorns, Zocdoc’s fresh $150M, Owlet’s $325M SPAC
...close in Q2. Anticipated value is as much as $325 million through cash ($230 million) and concurrent private placement (PIPE) of common stock ($130 million). Owlet started in 2013 with a ‘Smart Sock’ (left) using pulse oximetry to monitor baby heart rate, oxygen levels, and sleep patterns with readouts via their app, but has expanded to include an Owlet Cam. Owlet stated 50 percent revenue growth in 2020 after approximately $50 million in net revenue for 2019. Amazingly, Owlet in seven years raised a modest $48 million through 27 investors concluding with a two-year Series B. Awwww-worthy indeed. Release, Mobihealthnews... Continue Reading
News roundup: Proteus dissolves with Otsuka, EHRs add 16 min. per patient, DrChrono mobile EHR raises $20M, CareBridge LTSS launches, ‘flyover healthtech’ soars
...Well, there’s gold in Middle America’s hills when it comes to health tech, with some of the choicest high flyers at this week’s JP Morgan Healthcare Conference from places like Nashville, Minneapolis, Ann Arbor, Denver, and Iowa. Utah alone has enough tech to earn it the nickname ‘Silicon Slopes’. Utah’s highlighted company is one this Editor found back in 2013—Owlet–still (baby) socking it to them, cutely. Others, unfortunately, are wince-worthy–the prize goes to the Ōmcare med dispenser, which makes darn sure via two Wi-Fi-enabled interactive cameras that those pills are not only being taken, but also being swallowed. Really. Observer... Continue Reading
CES Unveiled’s preview of health tech at CES 2018
...(drum roll) the winner of TTA’s Insanely Cute Factor competition, the Owlet smart sock for baby monitoring [TTA’s backfile here]. One of the judges is Sir Richard Branson, who will host the finalists on 28 February on Necker Island (which hopefully will be rebuilt by that time). After the nearly two-hour briefing, CEA hosted a mini-show on the ground floor of the Metropolitan. There was a tiny taste of Living in Digital Times, held at the Sands Expo and hosted by Robin Raskin. The marketplace covers baby tech, health & wellness, family & kids tech, sleep tech, fitness, and doesn’t... Continue Reading
Seeing into 2017: Fitness trackers’ chill, clinical and specialized wearables warm up
...temperature and stress. Clinical quality data is what is required for a health and wellness research partnership like the one recently announced by RTI and Validic. Industry buzz is that Fitbit bought Pebble for its better IP, apps and stable of developers, not its smartwatch hardware, and that IP includes clinical quality measurement. Other biosensor companies on the rise according to CB Insights are Thync, Thalmic Labs, YBrain and mCube. In specialty wearables, there’s the recent funding success of Owlet, the High Cute Factor baby monitor sock. Lifebeam transfers multiple sensing technology to helmets and hats for richer data. And... Continue Reading
Telemedicine’s ‘missing link’ found? American Well adds Tyto Care remote diagnostics. (US)
...live video visit, or as a store-and-forward exam. Tyto Care is also introducing a professional version of its device and platform. Tyto Care has also made it to the finals of The Best of Baby Tech (a/k/a The Bump) Awards, which include a new version of the awww-worthy Owlet smart sock baby monitor, the Edwin the Duck child learning tool, TempTraq’s continuous temperature monitor and the SNOO smart sleeper. They will be exhibited with 13 other finalists at CES 2017 in the Bump Pavilion at the Baby Tech Showcase 5-8 January, with winners in six categories on the 5th. #babytechces... Continue Reading
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