Thursday short takes: Fold Health VBC $6M round, Vivalink’s RPM in Burma rural health, Vytalize adds two to board, layoffs at TytoCare, IntelyCare

Fold Health celebrated its first birthday by securing a $6 million round. Investors were Iron Pillar and global angel investors for total funding of $12 million. Fold’s platform is for primary care providers transitioning to value-based care and outcome-based payment models and need to manage workflow, care management, and patient data. Their claim is that it is the first end-to-end platform of this type that seamlessly integrates with EHRs. The founders originally came from athenahealth via their Praxify acquisition. Athenahealth provided the initial $6 million seed funding round. Fold release, TTA 21 July 2022

Vivalink, an RPM developer with a suite of medical wearables including a multi-function ECG patch, is part of a rural healthcare initiative on the border of Thailand and Burma. They have donated multiple sets of the rechargable ECG monitor which pairs with a real-time patient monitoring mobile app that can operate ‘off the grid’ in what appears to be a store and forward mode. It is lightweight and small at 7.5 grams in weight and 3.5 inches in length. In this remote area, clinicians can use the ECG patch to monitor patients in the preoperative assessment area, during the surgical procedure under sedation, and during the recovery period. The company promotes both conventional RPM monitoring and decentralized clinical trials. Vivalink release

Vytalize Health, a management services organization (MSO) that organizes independent primary care practices into Medicare accountable care organizations (ACOs) that enjoyed one of the few mega-fundings in H1 at $100 million, added two board members with substantial payer, quality reporting, and provider experience: David Wichmann, the former CEO of UnitedHealth Group from 2017 to 2021; and Amy Compton-Phillips, MD, currently the chief medical officer at Press Ganey and former Providence Health executive. Vytalize is in a highly competitive Medicare ACO/MSO segment with competitors such as Aledade, Privia Health, Evolent Health, CVS Health, Optum, and Collaborative Health Systems (Centene). FierceHealthcare, Vytalize release

Layoffs continue to affect healthcare both in the US and overseas.

  • New York/Tel Aviv-based TytoCare has laid off 20 employees, 10% of its 200-person workforce. 10 are in Israel, where it employs 135 people. TytoCare, which TTA has covered since 2016 as it’s diversified from home-based telehealth + device diagnostics primarily for child home care into providers and health plans and most recently for respiratory wheeze detection, had a last round of $50 million in March 2021. CTech/Calcalist (Israel), Becker’s, Jewish Business News
  • Boston-based IntelyCare, which helps providers organize nursing shifts, manage workflow, and staffing, has laid off staff after a reorganization. The number was not disclosed but was estimated at about 30. Most information is paywalled, but its last funding was a Series C at $115 million. Boston Business Journal


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