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

February 27, 2021 | by

The big news this week in Telehealth World is Cigna’s agreement to acquire MDLive. MDLive will be part of Evernorth, Cigna’s health services portfolio. From the release and news reports,  Cigna has been a long-time partner of and investor (through Cigna Ventures) in MDLive, which has grown to 60 million members. No purchase price nor management changes have been disclosed. Headquartered in Florida, since 2009 MDLive raised close to $200 million in investment in five rounds, the last $50 million in private equity in September, and was rumored to be prepping an IPO. 

Evernorth was rebranded within Cigna last September 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 at $32-34 per share. At the beginning of the month, it was estimated to be a modest $100 million [TTA 9 Feb]. Daffodils in February? More in TechCrunch, Reuters

Meanwhile, the Big Kahuna of Telehealth, Teladoc, ended 2020 with a smashing $1.1 bn in revenue and equally smashing losses. Their Q4 revenue was $383 million, up 145 percent from $156 million in Q4 2019. Visits skyrocketed due to the pandemic of course–10.6 million, up 156% from 2019. Paid membership hit 51.8 million, up 41 percent from 2019’s 36.7 million. Both membership and visits are expected to increase in 2021. Livongo, acquired in October, added substantially to 2020’s losses of $485 million, up 389 percent from 2019’s $99 million. Q4 losses were $394 million in the fourth quarter, up from $19 million in 2019. FierceHealthcare, Teladoc release

And happily, but more modestly, Medisafe’s smartphone-based medication management app has raised a $30 million Series C, led by Sanofi Ventures and ALIVE Israel HealthTech Fund. From a basic app when this Editor first profiled the company and met Omri ‘Bob’ Shor over a coffee in 2013, the app now is more a digital drug companion and a platform for patient adherence programs. Kudos! Release

#HIMSS17 roundup: machine learning, Proteus, Soon-Shiong/NantWorks’ cancer vax, Uniphy Health, more

February 28, 2017 | by

HIMSS17 is over for another year, but there is plenty of related reading left for anyone who is not still recovering from sensory overload. There wasn’t big news made, other than Speaker John Boehner trying to have it both ways about what the House needs to do about replacing the failing ACA a/k/a Obamacare. Here’s our serving:

  • If you are interested in the diffusion of workflow technologies into healthcare, including machine learning and AI, there’s a long-form three-part series in Healthcare IT News that this Editor noted has suddenly become a little difficult to find–but we did. The articles also helpfully list vendors that list certain areas of expertise in their exhibitor keywords.
  • Mobihealthnews produced a two-page wrap up that links to various MHN articles where applicable. Of interest:
    • a wound measurement app that Intermountain Healthcare developed with Johns Hopkins spinoff Tissue Analytics
    • Children’s Health of Dallas Texas is using the Proteus Health ingestible med sensor with a group of teenaged organ post-transplant patients to improve med compliance
    • the Medisafe med management app has a new feature that alerts users to drug, food and alcohol interactions with their regimen, which is to this writer’s knowledge the first-ever med app to do this
    • Info security spending is rising, according to the Thales Data Threat Report. This year, 81 percent of U.S. healthcare organizations and 76 percent of global healthcare organizations will increase information security spending.
  • Healthcare and sports mogul Patrick Soon-Shiong presented on NantHealth‘s progress on a cancer vaccine that became a significant part of the former VP Joe Biden’s initiative, Cancer Breakthroughs 2020. Dr Soon-Shiong stated that the FDA has given approval to advance the vaccine into later clinical trials, and also unveiled Nant AI, an augmented intelligence platform to high-speed process genome activity of cancer tumors and the Nant Cloud, a cloud server which can generate bioinformatic data at 26 seconds per patient. This is in addition to the NantHealth GPS Cancer diagnostic tool used to isolate new mutations in a given tumor. HealthcareITNews MedCityNews takes a dimmer view, noting two recent cancer vaccine failures. Dimmer still is Stat’s takedown of Dr Soon-Shiong, which reportedly was the talk of HIMSS.
  • Leading up to HIMSS, Newark’s own Uniphy Health announced UH4, the latest generation of its enterprise-wide communications and clinical collaboration platform for hospitals and clinics to facilitate the ‘real-time health system’. Release

Not enough? DestinationHIMSS, produced by Healthcare IT News/HIMSS Media, has its usual potpourri of official reporting here.

AdhereTech claims boost of 20 percent in med adherence

November 3, 2015 | by
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2015/07/AdhereTech-pill-bottle-e1436497826583.jpg” thumb_width=”150″ /] Back in June at CEWeek this Editor viewed the newly redesigned, retro-looking AdhereTech medication bottle [TTA 10 July] and thought it a substantial step in appearance and feel in the hand above 1.0. It dispenses normally, lights are brighter, sounds are louder, it communicates wirelessly to track consumption and reminders, works internationally and has a three-time greater battery life.

Compliance is a huge US business with pharma companies baying at the moon for it as a raison D’être of digital health. AdhereTech is working with Cincinnati Children’s Hospital, Weill Cornell Medical Center, and Walter Reed Army Medical Center on clinical trials. AdhereTech’s studies now indicate that users get about a 20 percent lift in adherence versus a standard bottle, and 80 percent of patients given the option of using AdhereTech or a normal bottle opted into the smart bottle. Like Medisafe [TTA 30 Oct], their market is millions who have one or more chronic diseases, but they sub-target those who take more and more expensive medications which can justify this pill dispenser’s cost. Mobihealthnews, FT interview with team early last month

Med reminder app improves adherence 7-10 percent

October 30, 2015 | by

[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2015/10/Medisafe-IMS.jpg” thumb_width=”150″ /]Medisafe, a medication reminder app from Haifa, Israel with offices in Boston, partnered with IMS Health for a study of their app with a test group of 700 patients total with diabetes, hypertension and hyperlipidemia (high cholesterol). Over the study period–six months for hyperlipidemia and hypertension, three months for diabetes–adherence improved 10.7, 5.4 and 7.7 percent respectively versus a control group. The app was rated by IMS’ AppScript app curation team in a recent report as the highest-rated medication management app in terms of AppScript score. Medisafe also enables care collaboration among physicians, patients and families, and also provides personalized content. PR Newswire release. MedCityNews.

MediSafe, Frame Health and ‘compliance’ winners in Health 2.0 competition

September 24, 2014 | by

Compliance ruled at Health 2.0’s Traction: Startup Championship at their annual meeting in Santa Clara, California. Mobile med reminder app MediSafe won the consumer-facing company ‘bakeoff’ and Frame Health, a big data analytics company which uses psychology to predict non-compliance, the provider-facing competition. Both competed in their class against four other companies and were judged by big-money VCs and mentors from ED Ventures, HealthTech Capital, Merck, AARP, Ziegler and others. The action also seems to be moving away from startups, as this competition was for Series A level companies with clients and real business, positioned for next round funding in the $2-12 million range. (more…)

A question for our readers: what does it take for health tech to cross borders well?

July 26, 2013 | by | 1 Comment

In considering the culture gap surrounding Telefónica’s stumble down the pit with O2–and other projects they had that didn’t cross borders well–this Editor thought it worthwhile to ask our readers, particularly our new ones, to kick off a conversation in Comments about this observation. There seem to be national barriers in health tech. Why?

What are the factors that enable health tech companies to cross borders and be successful?

This is not a comprehensive survey by any means, but in your Editor’s experience, it appears that most health tech innovation by smaller companies stays in the country of design. When it is purchased by a multi-national organization, cautiousness takes hold. Much of the liveliness of PERS market leader Lifeline has dimmed since Philips acquired it about 2008, (more…)