As the market changes, we are revising the digital health funding and deals roundup to focus on three or four of the week's most interesting deals instead of listing every single one.
Privia Health, an Arlington, Virginia-based physician enablement company, is expanding its partnership with Novant Health, a Winston-Salem, North Carolina-based health system.
The deal could lead to equity for Novant. For every 1,000 providers Novant brings to Privia’s platform, the company will be awarded 745,712 shares of Privia stock.
Novant employed 1,836 physicians as of December 2021, the most recent data available online.
Privia operates in 12 states and Washington, D.C. Its business relies on provider partnerships that aim to funnel patients into value-based care contracts. The company supports its provider partners with a population health platform for that transition.
It is one of the few digital health companies to see its share price increase after going public in May 2021 at $23 per share. Shares were trading near $28 at press time Friday.
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Assured Allies, a insurtech company focused on retirement savings, closed a $42.5 million Series B funding round to expand its carrier and partner networks.
The company’s AgeAssured platform uses machine learning and predictive analytics to support aging at home. According to the company, it has reduced cost of long-term insurance claims in its population by roughly 20%.
The age tech space has seen additional interest at conferences such as the Consumer Electronics Show as digital health broadens its reach.
Assured Allies launched in 2018 a focus on reducing the cost of care for aging populations.The company has raised $65 million to date.
FinTLV Ventures led the latest round. Other notable supporters included Samsung Next, EquiTrust Life Insurance Company and New Era Capital Partners,
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Biofourmis, a virtual care management company, and Tokyo-based Chugai Pharmaceutical are partnering to develop an object assessment of pain associated with endometriosis using digital technology.
The two have been working on leveraging digital technology to measure other types of pain since July 2020. Pairing biosensors with algorithms, the companies say they’re able to avoid physicians relying on subjective pain scale questions and ground diagnoses in additional data.
The collaboration will specifically focus on incorporating additional real-world data points. Biofourmis said it plans to invest in identifying how endometriosis patient care can improve when conducting visits virtually.
Last year, Biofourmis’ secured a $20 million Series D extension round bringing its round total to $320 million. The large funding round was first announced in April, which brought the company into ‘unicorn status’ with a valuation of $1.3 billion. That round was led by General Atlantic with participation by CVS Health, former Tenet Healthcare CEO Trevor Fetter and existing investors.
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Iron Health, a women’s digital health company, launched from healthcare startup creator Redesign Health with a $4.5 million seed round.
While the total is modest, the company secured an undisclosed amount from the March of Dimes Innovation Fund, which is the non-profit’s venture philanthropy initiative. It is the first investment from March of Dimes through this fund.
Iron Health acts tech-enabled, virtual care partner that complements a woman’s existing care network. It plans to launch its services in partnership with OB/GYN practices and healthcare systems.
Redesign Health itself closed a $65 million Series C funding round in September led by General Catalyst with support from CVS Health Ventures and UPMC Enterprises, the Pittsburgh-based health system’s venture capital arm.