Telehealth services faster and at reduced costs. The company provides a virtual-care platform and national clinician network to help companies ramp up Tiger Global co-led the company's most recent funding round.ĭigital health solutions exploding in popularity, virtual care has become less of an added bonus and more of a must-have for healthcare practices. Michelle Davey (pictured), the CEO of Wheel, and Griffin Mulcahey cofounded the company in January 2018. The fresh capital brings the startup's total funding to $176 million. The company also provides tools to help developers integrate their tech with electronic health-record systems.īuckley Ventures led the Series B round, with participation from angel investors Lachy Groom, Jack Altman, Scott Belsky, Shreyas Doshi, Eric Glyman, Shahed Khan, Packy McCormick and Rahul Vohra. The startup's platform aims to simplify how patients interact with their doctors online, making tasks like appointment scheduling and messaging a provider easier while automating aspects like reminder texts to patients on the back end for medical and dental practices. He graduated in 2015 and launched NexHealth two years later with his cofounder, Waleed Asif, to tackle those problems. While working as a medical receptionist in an undergraduate pre-med program, Alamin Uddin, the CEO of NexHealth, saw many of the challenges - like a lack of connection between scheduling software and the patient's medical record, or trouble contacting patients before an appointment - providers face when managing patients. Optum Ventures, CVS Health Ventures, Anthem, and HLM Venture Partners also participated in CareBridge's round.Īlamin Uddin, NexHealth CEO (left) and Waleed Asif, NexHealth CTO. The firm previously invested in Aspire Health back in 2015. CareBridge said in a release that it will serve members in 16 states plus Washington, DC by 2023. The company reimburses Medicaid plans based on the quality of care it provides rather than the quantity. This federally-designated category of healthcare services typically supports people with disabilities and seniors in navigating everyday activities, like getting dressed or bathing, without having to move into an external facility to receive that care. After Anthem acquired Aspire Health in 2018, Frist and Smith reunited to continue serving patients with complex conditions outside of the hospital.ĬareBridge Health helps coordinate around-the-clock clinical support for patients on Medicaid in their homes or communities. Bill Frist and Russell Street Ventures founder Brad Smith first worked together in 2013, when they co-founded community-based palliative care company Aspire Health. Bill Frist and Brad Smith, who co-founded Aspire Health in 2013, are also part of CareBridge's executive team.įormer Senate Majority Leader Dr. Mike Tudeen serves as the CEO of CareBridge Health. This article was initially published on June 9 and has been updated to add CareBridge. Here are 2022's newly minted healthcare unicorns. This list is composed of healthcare companies - which all include aĭigital-health focus - and excludes companies working primarily with pharmaceuticals, biotechnology, and medical devices. Pitchbook provided company data, including valuations, to Insider for this story. Thirteen companies have found their footing in this year's shaky market, sending their valuations to the $1 billion mark or higher. "I suspect that late-stage investors attaching a high valuation to a growing company are doing so in a really thoughtful manner," he said. Healthcare companies that went public last year is now dragging startup valuations down, Bill Evans, the CEO of Rock Health, said.Įvans said those factors make the startups that land large funding rounds this year - and that cross the unicorn threshold of a $1 billion or higher valuation - especially notable. ![]() Recession on the horizon, venture firms are proceeding with caution.Īnalysts have been raising concerns about inflated valuations for the past year, and the poor market performance of the Still, investors are feeling the shift with a potential That number is still much higher than pre-pandemic funding amounts. Healthcare-venture funding is slowing down after two years of investment mania.ĭigital-health startups banked $6 billion in the first quarter of 2022, trailing the $7.3 billion the industry raised in the fourth quarter of 2021. These 14 startups beat the odds to hit valuations of $1 billion or more so far in 2022. ![]() Bill Evans, the CEO of Rock Health, said firms are now more thoughtful about giving high valuations.Healthcare startups are raising less money this year as investors react to an unstable market.
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