Healthy.io, the Israeli startup that has transformed the smartphone camera into a clinical-grade device, has announced the completion of a $50 million Series D financing round, led by Schusterman Family Investments and joined by Aleph and other existing shareholders. This investment, together with a previously unannounced $45 million February 2022 investment, comprise the company's Series D. Healthy.io was one of "Globes" most promising startups in 2013.
The company has seen increased US commercial activity since July 2022, when it became the first and only company to offer an FDA-cleared smartphone-powered, at-home kidney test. The new investment will support Healthy.io's expansion in the US market, where Minuteful Kidney, the company's clinical-grade kidney test and patient engagement service, has met increased demand from leading health plans, health systems, and kidney care management groups.
Healthy.io's clinical grade, at-home test solution is an important component in health plans' kidney management programs. In tests of over 250,000 patients in the US and the UK, the solution has demonstrated unprecedentedly high adherence rates of up to 50% among previously untested populations. Promoting early diagnosis of chronic kidney disease (CKD) can also drastically reduce the skyrocketing costs associated with CKD, which currently costs Medicare $124 billion a year.
Healthy.io founder and CEO Yonatan Adri, "Our mission has always been clear: to improve the lives of patients by delivering clinical grade testing at the speed of life. By reducing barriers to essential diagnostic tests, Minuteful Kidney can reduce healthcare costs, create clinical value for providers and help prevent patients of all socioeconomic backgrounds avoid costly and disruptive kidney disease treatments. In the process, we can make health care more accessible and equitable, while providing a game changing solution to one the biggest cost-drivers in healthcare. During these turbulent times, we are grateful to our investors for believing in our company, trusting our capabilities, and getting us one step closer to that goal."
The medical-grade innovation is a rare example of technology receiving regulatory approval across all current iOS and Android devices. Now patients can conduct the test at home at clinical grade with immediate results provided to the patient and their primary care provider.
Alongside its urinalysis services, Healthy.io has also developed novel computer vision and smartphone-enabled wound image technology to digitize the management of chronic wounds. It partners with leading health groups in the US and UK to allow clinicians to monitor their patients remotely. Providing clinicians with timely and valuable information and a visual record of the wound over time significantly lowers the risk of deterioration and amputations.
Published by Globes, Israel business news - en.globes.co.il - on May 4, 2023.
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