Athelas is an end-to-end remote patient monitoring (RPM) platform that covers a wide range of chronic conditions such as hypertension, cardiac disorders, kidney failure, and diabetes. The company’s flagship product is an FDA-approved blood testing device, Athelas One, which takes blood samples through a finger prick and uses them to track an individual’s white blood cell count. The device was developed for immunocompromised individuals such as patients receiving treatment for cancer and individuals that are prescribed clozapine for schizophrenia. The company has since expanded its product portfolio to five different patient vitals monitoring devices including a blood pressure cuff, glucometer, weight scale, and smart medication storage system. Additionally, the company has an accompanying patient app for weight management and an app for doctors to access information on each of their patients.
The company operates a B2B2C model and the devices are available to consumers through healthcare providers. It charges a subscription for each device when it is sent home with a patient. Althelas’ own network of nurses review data collected from its devices and notifies a patient’s caregiver if any abnormalities are observed. The collected health data also integrates with major electronic health records systems. In 2021, the company had 40,000 monthly users, 10x higher than the previous year.
As of January 2022, the company raised USD 132 million in two consecutive funding rounds led by General Catalyst and Tribe Capital, which valued the company at USD 1.5 billion and propelled it to unicorn status. The funds are earmarked to further develop its RPM and chronic care management programs for hospitals and health systems.
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