healthy. ioThe Israeli startup that turned a smartphone camera into a clinical device has announced the completion of a $50 million Series D funding round, led by Schusterman Family Investments and joined by 1,000 existing shareholders. This investment, along with a previously unannounced $45 million investment in February 2022, includes Series D. Healthy.io was one of the most promising startups in the “Globes” in 2013.
The company has seen growing business in the US since July 2022, when it became the first and only company to offer a smartphone-powered, FDA-approved home kidney test. The new investment will support Healthy.io’s expansion into the US market, where Minuteful Kidney, the company’s clinical-grade kidney test and patient engagement service, has met growing demand from leading health plans, health systems and kidney care management groups.
Healthy.io’s clinical-grade in-home testing solution is an important component of health plans’ kidney management software. In tests on more than 250,000 patients in the US and UK, the solution has shown unprecedentedly high adherence rates of up to 50% among previously untested populations. Promoting early diagnosis of chronic kidney disease (CKD) can also reduce the prohibitive costs associated with CKD, which currently costs Medicare $124 billion annually.
Yonatan Adri, founder and CEO of Healthy.io, said, “Our mission has always been clear: to improve patients’ lives by offering clinical-grade tests at the Speed of Life. By reducing barriers to essential diagnostic testing, Minuteful Kidney can reduce healthcare costs, and create clinical value for providers and help prevent patients from all socioeconomic backgrounds from avoiding costly and disruptive treatments for kidney disease.In the process, we can make health care more equitable and accessible, while providing a game-changing solution to one of the industry’s largest cost drivers Healthcare During these uncertain times, we are grateful to our investors for their faith in our company, confidence in our abilities, and bringing us one step closer to achieving this goal.”
The medical innovation is a rare example of a technology receiving regulatory approval across all of today’s iOS and Android devices. Now patients can take the test at home in a clinical grade with immediate results provided to the patient and primary care provider.
Along with urinalysis services, Healthy.io has also developed new computer vision and smartphone-enabled wound image technology to digitize chronic wound management. It is partnering with leading health groups in the US and UK to allow doctors to monitor their patients remotely. Providing clinicians with timely and valuable information and a visual record of the wound over time greatly reduces the risk of deterioration and amputation.
Published by Globes, Israel business news – en.globes.co.il – on May 4, 2023.
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