Digital Health Investment Maintains Momentum in 2015
Digital health investment is off to a healthy start in 2015 with our friends at Rock Health reporting more than $630 million invested in the first quarter.…
May 01, 2015 at 07:04 PM
4 minute read
Digital health investment is off to a healthy start in 2015 with our friends at Rock Health reporting more than $630 million invested in the first quarter. Fenwick clients Augmedix and Centrillion Technology Holdings received investments that were among the 15 largest of the quarter. Clients Evidation Health and Eligible also raised money.
The largest investment of the first quarter was Health Catalyst's $70 million Series D round. The Salt Lake City-based company develops healthcare software that combines technology solutions with clinical expertise. Investors in the round included CHV Capital, Epic Ventures, Kaiser Permanente Ventures, Leavitt Equity Partners, Norwest Venture Partners, Partners HealthCare, Sands Capital, Sequoia, Sorenson Capital and Tenaya Capital.
The second largest investment of the quarter was a $50 million Series E investment in a digital contract research organization called Clinipace Worldwide, which develops technology-amplified CRO services geared to the needs of venture-backed, mid-tier biopharma companies. Investors included Harbert Venture Partners, Hatteras Venture Partners, Mario Family Partners, Morgan Stanley Expansion Capital, Virgo Investment Group and Crestline Investors.
The third largest investment of the quarter was a tie between Advance Health and ClassPass, which both raised $40 million. Advance Health, a Virginia-based company that combines mobile workflow technology and in-home care providers to deliver health risk assessments and chronic care management services, took in $40 million in a growth equity investment from Noro-Moseley Partners and Summit Partners.
And New York City-based ClassPass, which offers a membership program for fitness classes across multiple gyms and studios, raised $40 million in a Series B financing from General Catalyst Partners and Thrive Capital.
The fifth largest investment of the quarter was in San Mateo-based Collective Health, a cloud-based employer self-insurance platform, which raised $38 million in a Series B round from investors Formation 8, Founders Fund, NEA, Redpoint, Rock Health, RRE Ventures and Subtraction Capital.
In the sixth largest investment of Q1, Redwood City-based HeartFlow, which provides non-invasive assessment of coronary artery disease, raised $35.88 million in a Series D investment from US Venture Partners, Capricorn Investment Group, Sandbox Industries and HealthCor Management.
Utah-based Imagine Health received the seventh largest investment of the quarter, a $21 million Series A round. The company matches employers with large concentrations of employees in a single geographic area with custom-built teams of healthcare providers. HLM Venture Partners and Trident Capital participated in the round.
The eighth largest investment was in Modernizing Medicine, which raised $20 million in a Series D financing from investors that included IBM. The Boca Raton-based company has developed a cloud-based specialty-specific EMR system with a large library of medical content.
The ninth largest investment of the quarter was Charter Life Sciences' $19.26 million Series B investment in big data company Health Fidelity, a San Mateo-based company that helps healthcare organizations address risk and quality in value-based payment models.
Another Silicon Valley-headquartered company and Fenwick client, Palo Alto-based Centrillion Technology Holdings, a genomic and bioinformatics solution provider, received a $19.2 million private equity investment from Grand River Capital Management in the tenth largest investment
The eleventh largest was in OrthoSensor, which has developed a smart orthopedics device that provides real-time information about implant performance. The Florida-based company raised a $19 million in a Series C round with participation from Bridger Healthcare, Tullis Health Investors and Ziegler Medtech Equity Partners.
Chicago-based Apervita, a secure self-service platform for health analytics, received $18 million in a Series A financing in the twelfth largest investment of Q1. Investors included Pritzker Group Venture Capital, Baird Capital Partners, GE Ventures and MATH Venture Partners.
In the thirteenth largest investment, diabetes management solution provider Glooko received a $16.5 million Series B investment from Canaan Partners, Medtronic, Samsung Ventures and The Social+Capital Partnership.
Ranked fourteenth among Q1 investments Fenwick client Augmedix raised $16 million in a Series A round. The Menlo Park-based company provides medical professionals with a Google Glass powered electronic health record solution to help rehumanize healthcare. DCM Ventures and Emergence Capital Partners participated in the round.
Finally, rounding out the top 15 investments of the first quarter of 2015, New York City-based Noom, which develops fitness programs for smartphone users, raised $15.15 million in a Series B financing from RRE Ventures and TransLink Capital.
|This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
GE Agrees to $362.5M Deal to End Shareholder Claims Over Power, Insurance Risks
2 minute read
New Merger-Review Process Could Doom Some Deals, Add Headaches, Subjectivity to Others
7 minute readTrending Stories
- 1The Year That Was
- 2Employment Law Changes Expected From Second Trump Administration
- 3Decision of the Day: Sri Lanka Granted Stay of Litigation Over Defaulted Sovereign Bond Debt
- 4AI Adoption, Data Center Building Boom Opening More Doors for Cybercriminals, Many of Them Teenagers
- 5Mayor's Advisory Committee To Hold Hearing on Fitness of Judicial Candidates
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
