Author: MobiHealthNews

Direct-to-consumer virtual care company Hims & Hers Health reported a total of $246.6 million in revenue for Q4 compared to $167.2 million for the fourth quarter of 2022 and total year-over-year revenue in 2023 of $872.0 million compared to $526.9 million for 2022.  The San Francisco-based company reported a net income for the fourth quarter of $1.2 million compared to a net loss of $10.9 million in Q4 2022.  For 2023, the company had a net loss of $23.5 million compared to $65.7 million in the prior year.  Its gross profit increased from 79% in Q4 of 2022 to 83%…

Healthee, a healthcare benefits navigation platform, announced it secured $32 million in a Series A funding round.  Fin Capital, Glilot Capital Partners, and Group11 co-led the round with participation from TriNet, a publicly traded company providing companies with HR-related offerings, including payroll, benefits, compliance, and risk management solutions.  Lior Litwak, managing partner and head of Glilot+, an early growth fund of Glilot Capital Partners, will join Healthee’s board of directors.  WHAT IT DOES Healthee, formerly Insurights, offers a platform that answers employees’ questions regarding benefits, coverage, and treatment, as well as open enrollment support and preventative care recommendations.  The company…

Last week, Walgreens announced its tech-enabled value-based care provider VillageMD would close clinics in Florida in a bid to increase profitability and earlier this week confirmed to Becker’s it would close all its Illinois clinics in April.   Chief medical officer at Walgreens, Dr. Sashi Moodley, sat down with MobiHealthNews at ViVE24 to discuss the current state of Walgreens work in healthcare and the closures of VillageMD clinics. MobiHealthNews: Can you give an overview of Walgreens’ current work in healthcare? Dr. Sashi Moodley: We definitely have a lot of things going on. Just in the last few months, if you’ve followed…

Healthcare data exchange startup Moxe Health raised $25 million in growth capital from Trinity Capital. WHAT IT DOES The company offers payers and providers tools for sharing patient health record information. Moxe’s convergence product allows payers to input their insights into the EHR for providers. For providers specifically, the company offers its digital release of information product, which automates requests for medical charts, and payers can access a chart retrieval tool.  The company will use the investment to continue to scale its operations.  “Moxe’s innovative technology has the potential to revolutionize the way data is exchanged by the healthcare system,”…

Digital gastrointestinal care startup Salvo Health announced it closed a $5 million Seed Prime round led by City Light Capital and Human Ventures led the round. The company’s existing investors also participated in the round, including Torch Capital, Threshold Ventures and Felicis Ventures. Angel investors Anmol Madan, founder of Ginger Health and Teladoc’s former chief data scientist also contributed.  Emily Melton of Threshold, Rachel Parlier of City Light, and Salvo’s founder and CEO Jeffrey Glueck will join Salvo’s board of directors. WHAT IT DOES The New York-based company offers a virtual clinic geared toward people with chronic gastrointestinal and metabolic…

Assisted reproductive service provider Virtus Health is taking its customer relations management to the cloud, enhanced by AI.  It has chosen American company RingCentral to deliver an integrated communications and contact centre solution across its 62 fertility clinics, day hospitals, and diagnostics centres worldwide, mostly in Australia. Featuring RingCentral MVP and Contact Centre, the solution will consolidate and combine Virtus’ telephony and contact centre functionality and the ability to manage call flows and queues centrally. Deployment, which began at its Complete Fertility Centre in Southampton in the United Kingdom, will be conducted systematically over Virtus’ global SD-WAN in the next six months, based…

Ohio-based Redi Health, a tech-enabled health management platform for patients and healthcare providers, announced it closed a $14 million Series B funding round led by Blue Heron Capital.  North Coast Ventures participated in the round alongside existing investors Mutual Capital Partners, Rev1 Ventures, M25 and Refinery Ventures. WHAT IT DOES Redi Health offers a patient-facing mobile app and web platform that includes medication and symptom tracking.  It also provides a message center and navigator tool that connects life sciences companies, care providers and other healthcare stakeholders, including specialty pharmacies, copay vendors, data aggregators and payors.  “With Blue Heron Capital’s backing,…

b.well Connected Health, a patient-facing health management platform, announced it closed a $40 million Series C growth round led by Leavitt Equity Partners.  Andrew Clark, managing partner at Leavitt; Ryan Howells, principal at Leavitt and executive director of the CARIN Alliance; Dr. Hon Pak, head of digital health at Samsung joined b.well’s board of directors.  WHAT IT DOES b.well unifies patients’ health records, financial information, wearable data, and other healthcare data while gamifying the user experience so clients can earn points and rewards. The FHIR-enabled platform offers interoperability and personalization at scale.  “b.well is rearchitecting the backend of healthcare, empowering…

Healthcare data and analytics company Reveleer announced it secured more than $65 million in a funding round led by Hercules Capital, Inc. WHAT IT DOES Reveleer offers a payer-focused, AI-enabled workflow, data and analytics platform with offerings pertaining to risk adjustment, quality improvement and member management with the objective of advancing value-based care. The company also provides medical record retrieval and review services.  The Glendale-based company will use the funds to scale its offerings for payers and providers.  “This funding will have a tremendous impact as it positions us to strategically pursue inorganic growth opportunities in value-based-care technology, accelerating innovation…

Publicly listed Daewoong Pharmaceutical has recently unveiled its AI-driven drug development system, powered by a database of hundreds of millions of pre-processed compounds.  WHAT IT’S ABOUT Over the past two years, researchers of the Seoul-based pharma giant have sought to solve perennial issues in the development of novel drugs, particularly high cost and low efficiency.  Serving as the foundation of its latest drug discovery system, DAVID (Daewoong Advanced Virtual Database) is an 800 million-compound database composed of recently discovered compounds and compounds collected from research on new drugs over the past 40 years.  The company said they had to preprocess these open-source compounds, filtering out unusable…