Telehealth company Tyto Care Ltd. has raised $4 million in its first financing round from OrbiMed Israel and LionBird.
Tyto Care was founded by CEO Dedi Gilad and COO Ofer Tzadik in 2012. The company is based in Netanya.
Tyto is developing a platform and handheld device enabling anyone anywhere to perform an accurate physical examination for remote diagnosis. The device collects and transmits a broad spectrum of readings of the throat, ears and skin, and provides accurate temperature, pulmonary and cardiology analysis. The platform allows seamless and secure online interaction between patients and physicians for remote online examination by a physician and self-examination guided by the device. “
Tyto offers unique value to patients, providers, payors and employers. The solution is patient friendly and focuses on better outcomes. We plan to use the proceeds to complete product development and begin commercialization," said Gilad.
OrbiMed managing director Anat Naschitz said, “Healthcare reform and patient empowerment are changing the way care is delivered, prioritizing convenience and cost effectiveness. We like Tyto’s focus on primary and acute care, which differentiates the company from a host of chronic-disease-focused technologies."
"Given the inherent inefficiencies of in-person physician visits, we are great believers in the potential for technology to enable virtual consultations that are effective, personalized and engaging,” added LionBird managing partner Chaim Friedman. “The Tyto platform provides a new dimension that has been missing from this interaction - the ability to perform true-to-life physical examinations."
Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2014
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