Investor survey: Jawbone, Practice Fusion most likely digital health companies to go public in 2015

By: Aditi Pai | May 19, 2015        

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Jawbone UP2

Jawbone’s UP2 device

Some 20 percent of investors said they expect Jawbone to go public this year, according to a Rock Health survey of 43 investors. Jawbone has raised an estimated $725 million, the seed fund reported.

Rock Health released the survey just a few weeks after activity tracker company Fitbit filed the initial paperwork that puts it on the path for an IPO. In the company’s filing, Fitbit announced that since its founding in 2007, they sold more than 20.8 million devices as of the end of March 2015.

Rock Health also found that almost the same number of investors, 19 percent, said they expected Practice Fusion, which offers electronic health records and patient management software, to file for an IPO this year. While 15 percent said they expected Health Catalyst, a data storage company, to IPO in 2015 and 10 percent said they expected Proteus Digital Health, developer of a medication management and adherence system, to go public this year.

Less than 10 percent of investors said they expected the nine other companies in Rock Health’s survey to IPO in 2015. Some of these companies included American Well (8 percent), ZocDoc (4 percent), 23andMe (3 percent), Doximity (3 percent), Sharecare (2 percent), and Welltok (2 percent).

Fitbit isn’t the only digital health company to announce their intention to go public this year. At the end of April, Teladoc, a large and fast-growing video visits company based in Dallas, Texas, took the first step toward filing an initial public offering. Teladoc filed a confidential S-1 form with the SEC and expressed an intention to file for an IPO following the SEC’s review process. Teladoc has raised at least $96.6 million since it was founded in 2002.

Earlier this year, Rock Health reported that last year was a record-breaking one for digital health funding in multiple categories. Rock Health placed the total digital health funding for 2014 at just over $4 billion. The report had digital health accounting for 8 percent of all venture capital funding for the 12-month period between Q3 2013 and Q3 2014.


One Medical now offers patients app-based dermatology treatment

By: Aditi Pai | May 19, 2015        

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One Medical vaccination historyConcierge healthcare provider One Medical Group, which has practices in seven cities around the US, has added a new feature to the iOS version of its app, called One Medical Mobile, that allows patients to get treatment for basic skin issues directly from the app.

One Medical Mobile already allows patients to receive treatments for other basic conditions like UTIs, seasonal allergies, and yeast infections. This feature has been offered through the app since 2012.

If One Medical members have a skin condition, they can now use One Medical Mobile to answer a few questions about their symptoms, take a few photos of their skin issue, and submit the pictures to the clinician. One Medical’s dermatology team will then respond to the patient within 24 hours with a care plan. Types of skin issues that the clinicians treated through the app during the beta period included dermatitis, poison oak, alopecia, and psoriasis.

The website explains that the app-based dermatology treatment service is free for One Medical members for a limited time.

Separately, One Medical Mobile’s recent update also added a vaccine tracker to the app so that members can have access to their vaccine history on the go.

Other features offered through One Medical Mobile include appointment booking, an office locator, and prescription renewal.

This isn’t the first virtual treatment offering One Medical has provided. In 2013, the company partnered with Google to conduct video visits over Google’s now defunct video service, Helpouts. One Medical offered a number of Helpouts, including exclusive video chat options for the medical provider’s patients in Massachusetts and New York. Some of the 30 minute calls carried a fee of up to $60, while others were listed as free.

Welltok buys health analytics company Predilytics to boost consumer-facing CafeWell

By: Jonah Comstock | May 19, 2015        

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CafeWell ConciergeDenver-based Welltok, the health management company that makes the CafeWell Health Optimization Platform, has acquired Predilytics, a Burlington, Massachusetts-based predictive analytics company, for an undisclosed amount. Welltok will incorporate Predilytics’ engine into CafeWell, to help health plans, at-risk providers and other population health managers better understand and anticipate the needs of their patient populations.

Welltok’s CafeWell health social network is not available direct to consumer, but rather offered via population managers including employers, health plans, and providers. CafeWell Concierge, Welltok’s premium offering, is an IBM Watson-powered app that helps users manage their health throughout the day.

“For too long, healthcare analytics has been focused on what the patient is doing, rather than the consumer. The data is largely clinical, retroactive and inadequate to understand the needs of consumers,” Jeff Margolis, chairman and chief executive officer for Welltok, said in a statement. “This is why Predilytics is so incredibly important – it strives to understand consumers and gain unparalleled insights on behavior and preferences before they engage with the healthcare system.”

Predilytics was founded in 2011 and has raised $20.5 million from investors including Highland Capital Partners, Flare Capital Partners, Flybridge Capital Partners, Qualcomm Ventures, and Google Ventures. Flare Capital’s Michael Greeley (who was working with Flybridge at the time) mentioned the company at a 2013 industry event, saying that Predilytics was able to reach profitability much faster and with a much smaller initial investment than if it had launched 10 years ago. The company uses machine learning to help health plans and provider organizations attract and keep members.

“Predilytics has advanced health analytics by understanding consumer intent and interest,” Chris Coloian, chief executive officer and president for Predilytics, said in a statement. “And, now with CafeWell, we can close that loop to activate consumers. Also, since the platform obtains immediate feedback on engagement, we can use that data to further personalize the experience and guide the consumer.” Keep reading>>

Basis devices to share fitness data through Apple HealthKit, Google Fit

By: Jonah Comstock | May 19, 2015        

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Basis Peak TitaniumIntel’s Basis Peak will now connect to Apple HealthKit and Google Fit, both exporting the data tracked by its wearable and importing a small amount of data from Apple HealthKit. In addition, the company is launching a number of small firmware and software updates to its device, new band accessories, and a new limited edition version of the Basis Peak.

Prior to this update, Basis users could push very little of their data to other health apps. For most of the data, the only option was to download the data collected by their Basis device into a spreadsheet. Basis did give users the option to push heart rate data, and just heart rate data, to a couple of popular fitness apps, like RunKeeper, Strava, and Endomondo. Over the years most other fitness device makers had formed more robust data integration deals with each other and other health app developers, but apart from the limited heart rate integrations, Basis was a hold out.

“No matter how big your team is there’s only so many things you can take on,” Basis General Manager Jef Holove told MobiHealthNews. “And the number of use cases, the number of ideas that we have, that others have, it’s a really long list. So this allows us to empower third party developers to do cool stuff that we wouldn’t do on our own. … Meanwhile we can stick to our knitting and be able to do just a great consumer experience around health and fitness.”  Keep reading>>

SoloHealth, now Pursuant Health, raises $2.4M, partners with Cleveland Clinic

By: Jonah Comstock | May 18, 2015        

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SoloHealthHealth kiosk company SoloHealth has changed its name to Pursuant Health and raised $2.4 million in equity and securities, according to an SEC filing. Per the company’s website, the name change reflects a new partnership with Cleveland Clinic Wellness, which the company embarked on at the end of March. This will add a workplace wellness business to the company’s existing public kiosk business.

“We have changed our brand and partnered with Cleveland Clinic Wellness as part of our process of becoming a new kind of health and wellness company,” the company wrote. “Over the course of 2015, we will announce a new suite of innovative, convenient, and clinically-valid products that make it easier for individuals to understand their health status and self-manage chronic conditions. While our name may change, our focus remains on the millions of individuals who use our services each month.”

The new funding brings the company’s total funding to at least $28.2 million. As SoloHealth, the company raised $4.3 million last December. Previous investors include WellPoint, Novartis, Dell, Coinstar, and Walter Huff, founder and former chairman of a medical information systems firm acquired by McKesson. Keep reading>>

Iron Yard launches fifth class of nine digital health startups

By: Aditi Pai | May 18, 2015        

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Prenovate health coachIron Yard Ventures, a digital health accelerator based in Spartanburg, South Carolina, has announced its next class of nine startups.

Startups in the accelerator receive $20,000 in seed funding and a number of perks in exchange for 6 percent equity in their company. Perks include legal and financial advice, office space, and living space on-site for companies who relocate from out of town.

“These nine startups and their founders are a diverse group with standout backgrounds that are solving real problems that have potential to improve our healthcare system and make significant impact in customer’s lives as well as their bottom line,” Iron Yard Ventures Managing Director Marty Bauer said in a statement. “Now in our fifth cohort of companies, the quality of founders we see applying continues to increase… That is a big testament to some of the great startups that have launched out of our accelerator program in previous cohorts and now have gone on to become successful companies.”

One previous Iron Yard participant, Greenville, South Carolina-based ChartSpan, has raised $3 million since graduating from the program, including funding from the accelerator. The company closed its most recent round a few months ago.

Here are the nine startups in Iron Yard Ventures’ newest class:

ProAlert — This company has developed a security monitoring system for a user’s home or business. Iron Yard explains that the company also offers a product that helps first responders save time by integrating dispatch data with GPS.  Keep reading>>