Dear fellow digital health enthusiasts,
Today’s slang lesson: The linkedin-endorsement burn – «Passive aggressively endorsing someone on LinkedIn for a menial skill such as Microsoft Word.» Now you know.
Back to digital health: No new digital health IPOs this week, but still interesting stuff to report. Enjoy!
Is Europe ready for a digital health unicorn? Yes! After Doctolib raised a USD 170mn round on a billion dollar valuation, Babylon Health sealed a USD 450mn funding round from Saudi Arabia’s public investment fund, ERGO Fund of global reinsurer Munich Re, and existing Babylon shareholders Kinnevik AB. Congrats to our friends at Kinnevik, who invested also in Livongo! [≈ 2min]
Apple’s wearable business is bigger than 60% of the Fortune 500, according to Tim Cook. Living in Zurich, where everyone casually boasts a Rolex, Apple Watches big following is hard to believe, but nearly 50% year on year growth speaks for itself. Apple focused on health (monitoring) for a while now and it seems to pay off. It’s surprising that Fitbit, once a pioneer in the wearable market, has such a hard time keeping up. [≈ 6min]
Conventional wisdom for future digital health entrepreneurs: Solve problems that matter to you. Point in case, 50% of recently IPO’ed Livongo employees have a chronic condition. Not making the patient a priority is a common problem in health care. Having patients as founders / employee is a good approach to avoid this from happening. [≈ 5min]
Amazon vs CVS et al. data battle – round 2.0. Surescript (CVS owned data vendor) cut relationship with ReMy Health, which was the company that provided data access to amazon’s PillPack. They claim that ReMy Health had no right to access the data on behalf of amazon. Surescript also informed the FBI about the ‘fraudulent’ data sharing. [≈ 2min]
Closing as always with the quote of the week: «When VCs at conferences say raising money isn’t a problem, throw a milkshake at them.» – Matthew Holt, Co-Founder of Health 2.0 and publisher of The Health Care blog. Here additional 11(hilarious) rules for health tech start-ups. Hits close to home.
Not happy with our selection? Please send us links that you find interesting.
Have a productive week,