NEW YORK – Telehealth solutions provider TytoCare has raised $25 million in funding to continue its expansion in the U.S. market, penetrate the European and Asian markets, and enhance its product line, which includes a digital, connected stethoscope. The funding was led by Ping An Insurance Group of China’s Global Voyager Fund, which will work to bring the telehealth products to markets in China. “We are very excited about our strategic partnership with Ping An, and the huge business opportunity it offers,” said Dedi Gilad, co-founder and CEO of TytoCare, in a statement. “Over the last nine months we have seen great traction with some of the largest hospitals and health systems in the U.S. and this investment will allow us to continue building upon our momentum to deliver the best telehealth experience to consumers.”
RALEIGH, N.C. – K4Connect will deploy its K4Community platform in 10 senior living communities across California that already exist or are being planned by Eskaton, a nonprofit community-based senior living provider. As a result, connected-life technology, including health and wellness products, will be offered to more than 1,000 residents, beginning in early 2018 and throughout the rest of the year. “Eskaton is at the forefront of innovation in many ways and our connected-life platform provides a solid foundation for these innovations, both now and into the future,” said F. Scott Moody, co-founder and CEO of K4Connect, in a statement. “With technology advancing so rapidly today, a plug-and-play platform that can change and expand with the latest innovations is well aligned with Eskaton’s focus on long-term life enrichment initiatives.”
PHILADELPHIA – Connected health platform provider CloudMine was named one of the innovative startups of 2017 by PM360, a trade magazine for the pharmaceutical, biotech, medical device and diagnostics industries. “Our core belief—that connected health care is better health care—is driving the CloudMine team to continue to partner with innovative customers to transform digital health care through connected disease management and connected clinical trials,” said Steve Wray, CEO of CloudMine, in a statement. The company was selected as part of PM360’s annual Innovations Issue, published each December, to help other companies in the industry to find potential partners and offerings that can help them advance health care and life sciences.
HUDSON, Wis. – Phillips-Medisize, a Molex company, will expand a 380,000-square-foot Little Rock, Ark., facility to include a U.S. Food and Drug Administration-registered manufacturing Center of Excellence for Connected Health and drug delivery devices.
This facility establishes a new manufacturing site for Phillips-Medisize’s medical business, with capabilities for connected devices, filling, drug handling and electronics.
The construction of purpose-built clean room suites, as well as FDA registration and ISO 13485 certification, are scheduled to be complete for its first customer’s production beginning in Q2 2018.
“Phillips-Medisize is excited to align with Molex on the transformation of the Little Rock facility, which will be a Center of Excellence for Connected Health and drug delivery devices, and manufacture products that fit in today’s world of innovative devices,” said Matt Jennings, CEO and president of Philips-Medisize, in a statement. “The facility will have a particular focus on mid- to high-volume diagnostics, medical device and drug delivery systems that integrate electronics and digital applications, and will provide us with the additional space needed to reach our growth objectives over the upcoming years.”
This will be the company’s sixth expansion in the past six years to support long-term growth of its medical contract manufacturing business. These investments demonstrate ongoing support for biopharmaceutical and device customers by providing design, development and manufacturing solutions for both mechanical and connected devices across multiple geographies.
AMSTERDAM – Royal Philips has acquired VitalHealth, a provider of cloud-based population health management solutions for the delivery of personalized care outside of the hospital. VitalHealth has a successful portfolio of telehealth applications to give patients the tools they need to play a more active role in their own care, as well as a care coordination platform for care providers to integrate patient information across care settings. “This strategic acquisition complements our current offering in population health management, and supports our commitment to deliver integrated solutions for care providers and patients to improve people’s health,” said Carla Kriwet, chief business leader of the Connected Care & Health Informatics Businesses at Royal Philips, in a statement. VitalHealth’s platform will strengthen Philips’ HealthSuite digital platform, the company’s digital enabler for the next generation of connected health solutions, Kriwet said.
BOSTON – Intel is working with connected health company Aventyn on smart Internet of Things-connected health solutions and services, including commercialization of integrated clinical evidenced solutions for hospitals and health care providers. “The time is now to accelerate innovation at the edge of care to make remote care models the new standard of care, which is critically needed to bend the cost curve down and the outcomes curve upward,” said David Ryan, general manager health sector, Intel IoT Group, in a statement. The two companies are combining Intel’s recently-launched Health Application Platform for connected health care with Aventyn’s Vitalbeat integrated remote monitoring and management system for providers, payers and pharma/life science companies. The goal: to improve chronic disease patient population management, and prevent avoidable readmissions with advanced patient engagement at lower costs and better outcomes. “This innovative technology helps our health care partners advance delivery of reliable remote care solutions,” said Navin Govind, founder and CEO of Aventyn, in a statement.
DURHAM, N.C. –Connected health will be heavily influenced by the growing shift of acute care from hospital to home next year, says Drew Schiller.
“What we’ll be seeing, really, is the emergence of digital hospitals,” said Schiller, CEO of Validic, a provider of data connectivity solutions, in a recent webinar focusing on the state of connected health.
The shift is being driven by five trends, Schiller said: successful remote monitoring programs for managing chronic diseases; value-based care and new reimbursement mechanisms driving progress toward advanced payment models; a need for increased workforce productivity; consumer expectations that are compelling providers to leverage new technologies to engage people in new ways; and wide-scale availability of affordable connected home health devices, which are enabling patient-generated data delivery into the clinical workflow.
Schiller said there are several factors driving the need for RPM programs, including an aging population, data analytics and machine learning, and cost savings.
“We’ve done a lot of great groundbreaking work in the industry around RPM and I think in 2018 we’re going to start to see all of the evidence that we’ve laid out start to be realized in real broad-scale programs,” he said.
Also in 2018, patient satisfaction will be a market differentiator. Consumers will expect their provider to incorporate new technologies into their care, Schiller said, including patient-generated health data into the clinical workflow and programs of care.
“In an increasingly competitive landscape it’s critical that health care organizations pay more attention to improving satisfaction among chronic patients—communicating with patients at home in the course of their daily life is one way providers can successfully engage them and improve satisfaction,” he said.
BOSTON – Chunka Mui has challenged connected health companies to disrupt the health care space by thinking bigger and learning faster, while embracing the gap that exists between capability and possibility.
“You are the change agents,” said Mui, a futurist and innovation advisor, at the recent Connected Health Conference. “You are shaping the future of health care and connected health.”
As the managing director at Devil’s Advocate Group, Mui helps companies stress-test their innovation strategies. He has researched thousands of innovation successes and failures across a broad spectrum of industries, and in his session at the CHC, he applied his findings to health care. He presented three main strategies that connected health companies should use to position themselves as leaders:
- Embrace the gap between what companies tend to do and what they could do with technology. “We tend to focus on what we know and change really slowly,” Mui said. “Somewhere, somehow, someone will figure out what’s possible, as opposed to what’s already being done today—those are the companies that will come in and disrupt health care.”
- Think big. Mui said that successful companies explore a wide range of possible solutions to a problem. Using diabetes treatment as an example, he said the current model focuses more on already diagnosed patients struggling with the disease, and not enough on prevention in people identified as pre-diabetic. “We have a slew of technologies that may enable a different kind of problem to be solved,” Mui said. “Can we embrace that gap?”
- Learn faster. Successful innovators do not fall in love with the big ideas and base their efforts on hope and aspiration, Mui said. Successful innovators base their efforts on data and experience, and have a process for learning. “The thing to remember about innovation is that it’s not about the first mover or fast follower,” he said. “It’s about the fastest learner—they’re the ones that win.”
BOSTON – Six years after its founding, Qualcomm Life is delivering on its mission of connecting the world to health care anytime, anywhere. Rick Valencia, president, said that the company has learned many lessons along the way.
“Health care has been an interesting challenge,” Valencia said at the Connected Health Conference in Boston last week. “There have been lots of surprises.”
One of those surprises has been the pace of change in health care, as opposed to other industries that Qualcomm, Qualcomm Life’s parent company, serves like automotive, the Internet of Things and networking.
“Boy, does it take time in health care for providers to change and adopt technology,” Valencia said. “Getting connected to the patient has been a challenge.”
He said Qualcomm Life, which provides home health care connectivity and integration solutions, has had to learn many lessons on the fly since its beginnings in 2011. Those lessons include: learning to be a catalyst for change; developing technology and platforms that span the health care system; providing the technology and letting the solutions be developed by Qualcomm Life’s customers; building a business around the data; and earning the trust of partners by providing medical-grade products.
One of the biggest lessons Qualcomm Life has learned has been thinking about providers as consumers, Valencia said.
“We’ve had to figure out how to engage health care providers in the technology,” he said. “We’ve focused on moving them away from thinking about home health technology as data entry to thinking of it as data insights.”
Looking back at the lessons learned, Valencia said he sees reasons for optimism in the home health care technology industry because Qualcomm Life’s customers are finally beginning to scale globally on their platform and because health care companies are becoming digital service enabled.
“Streaming wearable data will power the new anytime, anywhere health care,” he said. “Service enabled health care is crucial to deliver value and measure outcomes.”
Yes BOSTON – There will be more people in the World over the age of 65 than under 5 in just three years, according to the U.S. Census Bureau, and 16% of the world’s population will be at least that age by 2025. Health care forecasts are calling for a shortage of doctors and nurses to care for aging adults in years to come.
“If we don’t think about how we’re going to change the way we deliver health care, we’re going to run out of caregivers,” said Dr. Joe Kvedar in his keynote address last week at the Connected Health Conference in Boston.
Kvedar, vice president of connected health at Partners HealthCare, said that today’s health care delivery model is a one-to-one system, but that connected health presents a way to make a model that is more efficient, less expensive and one that taps into the growing trend of consumerism in health care.
“People over the age of 50 present a huge opportunity for connected health today,” Kvedar said. “The challenge is figuring out how we turn aging from a burden to an opportunity and create a new kind of ‘old’.”
Health care technology needs to be designed for an extended health span as the country’s population is living an average of 25 years longer than in years past, Kvedar said. Health care platforms, devices and systems must address the issue of chronic illness management that expands the reach of providers.
Technology can address the three major predictors of aging health, Kvedar said, by giving seniors a sense of purpose, social connection and outlets for physical activity.
“As we live longer, our bodies will eventually begin to give out and we will have more touches with the health system,” he said. “Connected health allows one care provider to manage hundreds of patients and, if you set it up right, the patients will feel well-cared-for and well-connected.”