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A smash Q1 for digital health funding–but the SPAC party may be winding down fast

...the doors off 2020’s total funding of $14 bn? It looks like it…but…We invite your predictions in the Comments below. Les bon temps may rouler, but that cloud you see on the horizon may have SPAC written on it. A quick review: Special Purpose Acquisition Companies (SPACs) typically are public companies that raise money through their own IPOs for the express purpose of buying other companies. Often called a ‘blank check’, they have no purpose other than buying one or two other companies–in the latter case, merging them like the announced Cloudbreak and UpHealth last November–and converting over to the... 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

(We’ve gone bug-eyed for 1 April!) SOC Telemed ponies up a Spritely $196 million for competitor Access Physicians. The completed combination forms, according to SOC, the largest acute care telemedicine provider in the US serving 1,000 facilities, including over 700 hospitals, across 47 states. The deal is cash and stock. No transitional information other than the CEO of Access Physicians joins the SOC Telemed board. Both companies are in the enterprise acute care telemedicine area, facilitating virtual consults between specialists and to patient bedsides. In its SEC 10-K filing released earlier this week, SOC Telemed reported $59 million in 2020... Continue Reading

Propel@YH’s Demo Day for participants next Wednesday 31 March

...syndrome, supporting isolation, rehab mobility and mental health Liria Digital Health; a technological solution addressing the health and wellbeing of perimenopausal, menopausal, and postmenopausal people. My Food 24; an online food diary system which automates the diet tracking and analysis process SeeAI; a platform that supports early fracture diagnosis through x-ray images Ufonia Ltd; an AI-enabled accessible clinical assistant called Dora that can conduct an intelligent clinical conversation via a regular voice telephone call Vastmindz; an AI face analysis app to measure real-time heart and respiration rates, oxygen saturation, stress level, blood pressure and atrial fibrillation risk Warner Patch; a... Continue Reading

News and deals roundup: AHA opposes Optum buy of Change Healthcare; big raises by Komodo Health, Evidation Health, Ro’s $500M; Appriss acquires PatientPing

...pharmacy distribution, and in-home care network. Their total funding since 2017 is $876 million. According to the TechCrunch article, Ro is building out a patient-centric ‘vertical optimization’ model with 10 pharmacies scheduled for 2021 and the ability to provide 500 common drugs at $5 per month. Earlier this year, Ro acquired Workpath, a software platform that enables healthcare companies to offer on-demand, in-home care, and diagnostic services. Look for Ro to make another acquisition or two this year to bolster their telehealth capabilities. Release PatientPing, a care coordination software that connects providers to create continuity of patient care to notify... Continue Reading

UKTelehealthcare’s Digital MarketPlace: Tuesday 16th March (11:00 – 13:00)

Coming right up is UKTHC’s Digital MarketPlace on Tuesday 16 March from 11.00 to 13.00 (1pm). The free presentation will be fully online on Zoom with presentations from Canary Care, Tunstall, Appello, and CSL. The full agenda is available here on UKTHC’s Events page, along with the registration link. Or go to Events from the link on the right sidebar of our home page.... Continue Reading

News roundup: Hacks, ransomware of medical records, security cameras spike; Withings launches new mobile-direct devices; Bluestream Health adds Leon Medical (FL) to telehealth

...(appropriately female for this month) as through a “super admin” account where the username and password appeared online. Becker’s Health IT 10 March, Bloomberg News 210,000 MultiCare patients, providers, and employees of Tacoma, Wash.-based MultiCare had personal information exposed in a December ransomware attack on their medical practice management company’s IT services vendor. Becker’s Health IT 9 March A clinic in North Carolina had a six-day ransomware attack starting 23 February. Hackers demanded a $1.75 million payment in exchange for giving back the clinic access to its data. The clinic came back online 1 March but did not disclose any... Continue Reading

News and deal roundup, 5 March: Oscar Health’s $1.4 billion IPO, telehealth expansion in Congress, what people *really* do during a telehealth visit

...share it, a surprising study by DrFirst, a mobile telehealth and communications platform. It was conducted online during the Pits of the Pandemic (June 2020). It may not surprise you that most patients weren’t fully engaged in the process. Bored, isolated, mostly male patients–73 percent men, 39 percent women–multitasked and distracted themselves during the virtual visit by: Surfing web, checking email, texting – 24.5% Watching the news, TV, or movie – 24% Scrolling through social media – 21% Eating a snack or a meal – 21% Playing a video game – 19% Exercising – 18% Smoking a cigarette – 11%... Continue Reading

Funding update, 4 March: big Series Ds for new unicorn Dispatch Health and Tyto Care; USDA’s $42M for rural telehealth; UK’s Perfect Ward hospital inspection app secures £4m

...is in the desirable, high potential cost-saving areas of care that replaces ER visits or hospital stays. The platform integrates in-home care services booked through a call, their app, or online by patients, care providers, payers, EMS, senior living, and health systems. The objectives of care are to substitute for ER visits, hospital stays, and to coordinate ancillary services. Currently serving 19 markets across 12 states with care to more than 170,000 patients in 2020, the new funding will be used for expansion to 100 national markets. DispatchHealth recently announced partnering with Humana for advanced hospital-level care for their Medicare... Continue Reading

Rock Health/Stanford U Digital Health Adoption Report: high gear for telemedicine, digital health, but little broadening of demographics

...for medical emergency, then minor illness (25 percent), then chronic condition (19 percent). (page 16) Barriers to use remain significant in telemedicine and have not changed year to year except for awareness of options. (page 22-23) Prefer to discuss health in-person (52 percent) Not aware of options (much less this year) Provider didn’t recommend Cost Poor cellular or broadband connection is minimal (3 percent). There is also no barrier of ‘inability to use’, though this may be skewed by the survey group being online (see methodology). Wearables and digital information tracking accelerated, but ‘churn’ continued. 54 percent of respondents adopted... Continue Reading

Deal and news roundup: Cigna acquires MDLive, Oscar Health $1bn IPO preview, Teladoc’s smash revenue–and losses, Medisafe’s $30M Series C

...for management services which can be sold outside of Cigna, a move that follows both CVS Aetna and UnitedHealthGroup. It contains pharmacy benefit management company Express Scripts, specialty pharmacy Accredo, and medical benefit manager eviCore along with several other smaller related businesses. Last year, it brought in $116.1 billion in revenues for Cigna last year, a 20 percent jump from 2019, according to Cigna’s annual report. MDLive release, Healthcare Dive, FierceHealthcare ‘Neoinsurer’ Oscar Health’s IPO raise, scheduled for next week, is now estimated to be in the eye-blinking $1 bn to $1.2 bn range, with over 30 million shares valued... Continue Reading