Digital health funding and deals recap: General Electric's healthcare spinoff goes public

GE HealthCare, a healthcare-focused spinoff of General Electric, officially started trading publicly on the Nasdaq composite on Jan. 4. The company closed its first day on the market trading at $60.49 per share for a market capitalization of around $27.5 million, an 8% increase from its opening price of $53.85 per share. GE is retaining nearly 20% of the shares of GE HealthCare common stock. The healthcare company, which develops medical devices and software products for health systems, said in a statement it has a presence in more than 160 countries and employs 51,000 people.

Onc.AI, a company developing an oncology-focused clinical management platform, received $25 million in Series A financing. The round was co-led by MassMutual and Action Potential Venture Capital, a venture fund from pharma giant GSK. Also participating were Life Extension Ventures, Blue Venture Fund, Accomplice, Digitalis Ventures and KdT Ventures. The company said it will use the funding to further its regulatory approval process from the Food and Drug Administration. Following regulatory approval, it plans to commercialize its lung cancer software product.

Infraway, a health tech company that combines topical and infrared heat into wearable devices for pain management, has acquired Relief Technologies, a manufacturer of connected heating pads, for an undisclosed price. The deal was finalized in November of last year and the companies have begun to coalesce under the Infraway name.

Other deals and rounds:

Herself Health, a healthcare technology company focused on delivering advanced primary care to women 65 and older, received $7 million in funding. 

LinusBio, a precision medicine company, raised over $16 million in Series A funding. 

Beyondbmi, a virtual medical weight loss platform, raised €500,000 (~$533,890) in a funding round.

LunaJoy, a telehealth company, raised $2.4 million in a seed round.

At Home Doc, a virtual care startup, raised $1.9 million in a pre-series A funding round.

HD, an online platform that connects patients to hospitals, clinics, operating rooms and surgeons, raised $6 million in a funding round.

Ganymed Robotics, a developer of computer vision software and robotics technologies for orthopedic surgeons, raised €15 million (~$16 million) in a Series B extension round.

Medify, a developer of healthcare practice management software, closed $1 million in seed funding.

HealthStream, a workforce and provider solutions company, acquired Electronic Education Documentation System, a healthcare technology company.

Volta Medical, a developer of AI-powered software, raised €36 million (~$38 million) in a Series B funding round.

Porter, a healthcare technology and services platform, raised $5.4 million in seed funding.

She Matters, a digital health platform designed to support Black mothers who experience postpartum comorbidities, raised $1.5 million in seed funding.

KeyCare, a telehealth company, received a $3 million extension of its Series A funding round bringing the round's total to $27 million.

Perspectum, an AI-powered precision health software company that enables clinicians to provide care for patients with chronic metabolic diseases, multi-organ pathology, and cancer, raised $36 million in a Series C funding round.

Crescendo Health, a personal health data management platform that allows patients to collect and store share their healthcare data with researchers, raised $3.4 million in a Series A funding round.

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.