Owen Garrick, MD

Here's another fundraising roundup spotted in the healthcare wilds 👀 🍃 ✅ Sword Health raised $130M (new valuation: $3B). ✅ Better Health raised $14M to deploy expanded payer partnerships. ✅ Alzheon, Inc. | Preserving Future Memories raised $100M Series E to advance development & commercialization of its Alzheimer’s treatment. ✅ CinRx Pharma raised $73M to continue its ‘Hub and Spoke’ model of startup formation. ✅ Eko Health raised $41M to scale AI-driven heart and lung disease detection. ✅ Anterior (formerly Co:Helm) secured a $20M Series A to unlock admin efficiencies for healthcare payers. ✅ SamaCare raised a $17M Series B to scale specialty drug prior authorization platform. ✅ Plenful secured a $17M Series A to streamline pharmacy operations with AI-powered workflow automation. ✅ Grayce raised a $10.4M Series A led by Maveron amid a caregiving crisis. ✅ Stitch Employment Services Inc PEO raised $8.75M in seed to support independent medical practices. ✅ Posterity Health secured $6M to fund expansion and technology acceleration. ✅ Sware raised $6M to accelerate life sciences innovation by automating FDA-mandated software validation. ✅ Keragon raised $3M, as announced in @Conno Christou’s LinkedIn post. As always, if I missed you, let me know! Each week I'm spotlighting an innovative healthcare startup. I just ask for a bit more transparency. All submissions are confidential; submit yours here 👇 https://lnkd.in/gF4DrAvJ Looking for more fundraising roundups, alongside healthcare industry news and analysis? Subscribe to Hospitalogy, my 2x/week newsletter. Join 33K+ other investors, executives, and healthcare professionals: https://lnkd.in/g-nfRqW6

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👍 In the first half of 2024, U.S. digital health startups secured $5.7 billion across 266 deals, showing a strong rebound after years of slowed investment, according to Rock Health. With early-stage deals driving the momentum, the sector is on track to surpass funding totals from 2019 and 2023. https://bit.ly/4cCRy2W Via Healthcare Dive #digitalhealth #digitalhealthfunding

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Exciting news from Monica Chopra, Jeffrey De Flavio, MD, Samantha Adelberg, and the rest of the Auxa Health team as they officially announce their $5.2M Seed round. The team's deep industry expertise and drive for change have led them to solve critical infrastructural friction to providing quality healthcare and adoption of value-based care. Auxa's AI benefit navigation platform is simplifying the complexities of healthcare by streamlining all of the fragmented and siloed data and information to make it actionable in real-time for healthcare organizations. For the 70% of Americans who aren't getting access to the health and social care benefits they deserve, Auxa's solution will be pivotal in enabling equitable care. We're thrilled to partner with co-investors Zeal Capital Partners, AlleyCorp, Laconia, and Chaac Ventures on this journey and look to share many more milestones ahead. Cc K50 Ventures, Ryan Bloomer, Daniel Vásquez, Nick Talwar, Stefanie Ng https://lnkd.in/dPDY7-Db

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Q1 2024 was big for Digital Health, with $1.1B in VC funding. A large portion came from major deals like $126M for Transcarent and $108.8M for Rightway. Despite some challenges in digital therapeutics and telehealth, investments in general care ($213.4M) and health benefits navigation ($140.7M) are promising. Read what’s driving the shift from direct-to-consumer to enterprise telehealth models here: https://ow.ly/uNYs50SpXGh

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Revolutionizing Telemedicine: How We Beat the Odds and Built Teladoc Discover the incredible journey of Teladoc, a telemedicine pioneer, and how we overcame obstacles to transform healthcare. Follow us on Substack: https://lnkd.in/e49bGQUR Learn how our fearless team fought for change and built an engine that revolutionized the industry. #TelemedicineRevolution #HealthcareInnovation #DigitalHealth #TelehealthSuccess #HealthcareDisruption #EntrepreneurshipJourney #BuildingTechStartups #InnovativeHealthcare #MedicalTechnology #HealthcareTransformation

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50% of surgeons are below average :-) In this segment on BioTech Nation we explore the future of #AI, #robotics and digitally enabled surgical interventions that can help improve outcomes, and democratize access to care around the world. Listen here --> https://lnkd.in/gkpmZvSY Surgical Education: Moving from how most clinicians train, 'See one, Do one, Teach One'.... to 'See one, Simulate one, Do One' with new approaches leveraging #VR to train and stress surgeons in challenging situations, like pilots train in flight simulators. Startups like Osso VR are pioneering this and platforms like Proximie are enabling shared surgical knowledge, data and virtualized coaching. Theator is crowd-sourcing surgical experience to make a 'Google Maps' for surgery to surface data-driven insights to deliver a higher quality of care, and Augmedics is blending #AR guided procedures allows surgeons to see patients’ anatomy as if they have “x-ray vision” and accurately navigate instruments and implants during spine procedures. The convergence of #AI and increasingly capable and autonomous #Robotics will continue to upskill and augment procedures, and improve outcomes and surgical training. Emerging solutions like swallow'able robots are coming as well, like those being developed by. Endiatx Some surgical related solutions are featured on Digital.Health's surgery section (with many more in the searchable database) https://lnkd.in/gygCnV7S Catch some terrific talks from NextMed Health touching on the future of surgery here: https://lnkd.in/gY_F6BZU For more on the convergence of technology and the future of surgery join us for NextMed Health this December 10-13th: http://NextMed.Health/join Thanks to the inspiration from innovative surgical colleagues including Stefano Bini, Kevin R. Stone, M.D., Dr. Nadine Hachach-Haram FRCS (Plast), BEM, Catherine Mohr, Robert Masson MD, FACS FAANS to Tamir Wolf and Justin Barad, MD #MedEd #DigitalSurgery #Surgeons, #OperatingRoom, #MedicalDevices #innovation #medicaleducation #simulation #digitalhealth #globalhealth

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Investing in companies that fill needs for health systems is a growth opportunity for both delivery organizations and start ups. Some systems are jumping in on their own, while others are partnering with like minded systems or with established VC firms. While this is a relatively new trend for systems, health plans have been making similar bets for many years. The benefits of becoming a health system portfolio company can be significant. Data, access to beta populations and real world coaching can be extremely beneficial. Start ups get mentoring and systems have to ability to leverage outside resources to solve relevant business problems. I predict a booming business!

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Digital Health Wire has the news today on K Health's amazing momentum as the company is building on the debut of its AI Knowledge Agent with the close of $50M in equity funding led by Claure Group. K Health is on a mission to provide access to high-quality #medicalcare at scale by using AI to turn patient smartphones into the first stop along their care journey. The company's clinical-grade #AI for #primarycare takes patients through a personalized chat to walk through their symptoms, develops an assessment grounded in the #EHR, then delivers insights to providers to inform their diagnoses and treatments. This allows providers to practice at the top of their license and engage with their patients instead of spending valuable time manually piecing together relevant information. Digital Health Wire had the exclusive news on K’s AI Knowledge Agent when it was unveiled. This breakthrough tech is composed of an array of LLMs boosted by K Health’s own advanced algorithms, with key differentiators from standard AI applications. Congratulations Allon Bloch, Ran Shaul, Ethan Fischer, and the K Health team on this funding, which will be used to fuel more health system partnerships and continue sharpening K Health's first-of-its-kind AI, which should in turn allow it to make a compelling ROI case. https://lnkd.in/gvcyaFbU #digitalhealth #KHealth #AIinHealthcare #artificialintelligence #

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Imagine swallowing the competition whole. That's what many players in tech do via roll-up strategies, gobbling up smaller firms to deliver richer solutions and amass greater market share. Where else are roll-up strategies common? // HEALTHCARE Picture being a patient at a medical practice that’s been part of a roll-up in Healthcare Services. It's an industry ripe for roll-ups due to its fragmented nature and potential for greater efficiency. // CONSUMER SERVICES Or let's say you needed your HVAC serviced, and notice your local repairman is now part of a bigger Consumer Services entity? Centralized management and scale economy turn these localized businesses into roll-up targets. // FINANCIAL SERVICES Think about your insurance agent or wealth management advisor. They're working in complex, highly regulated environments. In the Financial Services sector, roll-ups offer an effective way to consolidate expertise, streamline operations, and enhance customer offerings. // MANUFACTURING Now, imagine driving past factories under a new name — the result of Manufacturing and Industrial Services roll-ups. Bulk purchasing reduces costs, enhances production capabilities, and expands geographical footprints. // REAL ESTATE Lastly, envision your real estate brokerage firm. The industry sees roll-ups as a strategic move to increase market penetration, enhance service offerings, and hike up portfolio value. Roll-ups play a huge role in most industries, rather like a snowball rolling downhill, gaining momentum, and size. Are you seeing roll-ups in your sector or considering M&A?

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There is a misconception emerging that AI agents will lead to immediate reductions in healthcare labor costs. While AI agents can automate end-to-end workflows such as booking appointments, answering basic patient questions, and performing form completion for prior authorizations, automating a single task is not equivalent to automating an entire job. Nurses are a prime example. Certain nursing tasks, such as care coordination and patient documentation, are highly automatable by AI agents; however, there is a tremendous amount of work nurses perform on the ground that cannot be fully automated with current technologies such as direct patient care, physical examinations, medication administration, wound care, patient support, and clinical assessments. These nuances make full role elimination less likely with current technologies. When articulating the ROI of an AI agent, we need to be both precise and accurate. Automating a task is more often not automating an entire profession. For roles that encompass many functions, such as nursing, AI agents can be invaluable tools for unburdening staff, increasing efficiency, and boosting throughput—benefits that are particularly valuable given current healthcare staffing and resource shortages. The most promising job candidates for full role elimination through AI remain positions with monolithic task structures, of which there are relatively few in healthcare today—scribes, medical coders, and data entry specialists for example. It is therefore unsurprising then that the most progress has been made in these categories.

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Recently, I had the opportunity to listen to a podcast featuring the CEO's of Prime Therapeutics and Cap Rx. Investing time to learn what I can has always been crucial to my growth, and this podcast hit the mark for me. I was able to uncover some nuggets of wisdom that I can use to educate myself further. It's always exciting to learn from industry leaders and gain insights that can help me excel in my field. https://lnkd.in/eZTMUmiu

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Walmart closing 51 Health Centers over “Lack of Profitability!” Walmart Health Virtual Care (telemedicine) offerings will also end. Article by Daniella Alessandra Genovese Fox Business Network April 30, 2024 MY TAKE: · What does ‘lack of Profitability” really MEAN? o Is it meant that this service line is losing money – financially upside down? o Or does it mean that the line is not producing the “EXCESS PROFITS” that were envisioned - and that corporate leaders and shareholders demand?   ·    Healthcare delivery is NOT a simple business model, though increasingly we see corporate entities entering this arena, often envisioning large profits or - in the case of private equity - valuable ASSETS whose value can be accelerated over short periods - or at least sold off as value-added components.   ·    It has been said that the LURE of ‘excess profit’ invariably leads to GREED, and that in healthcare - greed invariable leads to worsening conditions within healthcare workplaces and worsening outcomes for patients! American Medical Association American Hospital Association American College of Emergency Physicians U.S. Senate Committee on Health, Education, Labor, & Pensions Tennessee Medical Association Jesse Pines Chadd Kraus Lara Vanyo Rita Manfredi TENNESSEE COLLEGE OF EMERGENCY PHYSICIANS Timothy Wilson Ryan Stanton Gabe Kelen, Deidre McPhillips Mollie Pillman Alison Haddock, MD, FACEP Susan Morse mor Chelsea Torres Amy Feldman Jesse Ehrenfeld MD MPH Mel Cortez Larry Bucshon, M.D. Peter Stavros Fox article link - https://lnkd.in/gynsbScT

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As many of us in pancreatic surgical oncology have become disciples of Neoadjuvant therapy, with the influx of IRE/NanoKnife and immunotherapy options entering the Pancreatic cancer arena the importance of finding the best neoadjuvant therapy now extends well beyond those deemed potentially resectable, into the realm of the locally advanced and oligometastatic dominions; where before committing to complex treatment paradigms one wants to be assured that systemic micrometastatic disease has been or is being controlled. This helps push the paradigm.

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AI and Med Tech in Focus   Implantable Device Reverses Opioid Overdoses Researchers at MIT and Brigham and Women’s Hospital have developed an implantable device that detects and reverses opioid overdoses by autonomously administering a dose of naloxone. Naloxone is a drug that binds to opioid receptors and blocks the effects of heroin, fentanyl and other opioids. Called iSOS, the device has sensors that continuously monitors a user’s respiratory rate, heart rate, body temperature and blood oxygen saturation and uses machine learning algorithms that are trained to recognize the signs of overdose using the cardiorespiratory data collected by the sensors. When the device detects a suspected overdose, the device buzzes and sends an alert to a user’s phone. If the alert is not cancelled, iSOS administers a rapid shot of naloxone.  The device is about the size of a stick of gum and implanted under local anesthesia. It has a wireless rechargeable battery that lasts 14 days and a 10-milligram refillable drug reservoir. ISOS has been shown to be effective in reversing the effects of overdose 96% of the time and could help people who are at the highest risk of re-overdose. Because the naloxone dose is automatically delivered in a “closed loop” survival is not predicated by timely intervention of a first responder or a bystander Further research is being done to miniaturize the size and optimize battery life. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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"Healthcare innovation is accelerating at an unprecedented pace, and cardiology is on the brink of transformative change using new forms of remote monitoring and artificial intelligence (AI). Thomas M. Maddox, MD, SM, professor of medicine and vice president of digital products and innovation at BJC HealthCare, Washington University School of Medicine, gave a presentation on new technology advances at ACC.24, the annual meeting of the American College of Cardiology (ACC). He then spoke with Cardiovascular Business, providing insights into cardiology's future. "Digital health is really starting to mature and become a key part of how we're going to practice cardiology going forward. There are some newer ways that we are collecting data about patient's health, and particularly when patients are not with us in a clinic or a hospital. So we are monitoring them at home and making sure that we're not missing early signs of disease worsening or disease progression," Maddox explained. " American Heart Association MedTech Innovator LSI Heart Rhythm Society #epeeps

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The role of AI and new technology to aid cardiology “As cardiology starts to face staffing shortages and continued decreases in CMS payments, Biga believes technology advances need to be leveraged in cardiology to help improve outcomes, make workflows more efficient to do more with less, and to help cut costs.” “Many of the solutions that can help were displayed on the expo floor, including telehealth and real-time remote monitoring systems. "I think this area will experience an explosion in use," Biga said. Another major area that will likely see an explosion of use is artificial intelligence (AI). She said AI will begin playing a rapidly growing role in cardiology in the coming years to augment cardiologists and other clinical staff. And not just on the front lines of patient care, but also in the back offices where AI will play a growing role in IT systems, smoothing workflow, analytics, automated quality metrics capture and many other areas. "We must use AI to reduce administrative burdens and improve patient outcomes," Biga explained. “

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Great analysis and facts... Short term horizons reinforce poor decision making and ultimately undermine healthcare. Value creation, serving communities, tackling SDoH, building community wellness, and ultimately creating impact takes time. You can’t use short term horizons to achieve long term goals and objectives in healthcare.

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