HealthQuest Capital, a private equity firm, closed its fourth digital health-focused fund at $675 million. HealthQuest has invested in Thirty Madison, Everly Health and TigerConnect. The team has also seen 18 exits across initial public offerings and M&A transactions. Since its start in 2013, HealthQuest has raised more than $1.6 billion across four funds.
Mirvie, an RNA platform for pregnant women, raised $60 million in a Series B funding round. The company is developing medical tests to identify risks of pregnancy complications. The financing was led by Decheng Capital with additional funding from funds and accounts managed by BlackRock, Foresite Capital, General Catalyst, GV, Khosla Ventures, and Mayfield as well as a debt facility with Comerica Bank. The funding will be used to for clinical and commercial development of its RNA platform.
HealthStream, a virtual workforce development company, acquired CloudCME, a SaaS-based education firm, for $4 million. HealthStream had previously owned 20% equity in the company. It will embed CloudCME’s continuing education application into its platform. It’s the second continuing medical education-based acquisition for the publicly traded HealthStream in the last six months. In December, it acquired Rievent for $4 million.
Other funding rounds and deals:
• Noyo, an API benefits platform, announced that it has closed $45 million in Series B financing.
• Character Biosciences, a precision medicine platform, raised $18 million in a funding round.
• ThoroughCare, a value-based care coordination software for clinicians, received a $3 million investment.
• Greater Good Health, a professional network for nurse practitioners, raised $13 million in Seed funding.
• Zuri Health, a telehealth startup, raised $1.3 million in a pre-seed funding round.
• Spring Health, a digital behavioral health benefits program for employees offered through employers, acquired Weldon, parenting advice and support app.
• Modivcare, a remote patient monitoring solution company, acquired Guardian Medical Monitoring from its parent company, Guardian Alarm.
• Cayaba Care, a maternal care digital health company, has secured a $12 million series A funding round.
• CarePoint, a telehealth company, raised $10 million in a funding round.
• Pique, a women’s virtual sexual health clinic, raised $4 million in a seed funding round.
• Deciphex, an AI-powered digital pathology workflow management platform, closed $11.5 million in a Series B funding round.
• Harris, an acquisition-focused health IT firm, brought on Innovative Medical Management and MedBill-IQ, two medical billing solutions companies.
• CorroHealth, a healthcare revenue cycle management company, acquired ParaRev.
If there is a digital health funding or M&A deal that we missed from this past week here, please email us.
Digital Health Business & Technology’s data team contributed to this roundup.