TytoCare

Tyto is a remote patient monitoring and telemedicine provider based in New York. It allows a healthcare provider to examine the patient's heart, lungs, throat, ears, skin, abdomen, and body temperature using a handheld, all in one remote monitoring device (with built-in guidance) provided to the patient as a part of the membership, allowing the provider to diagnose and treat many common conditions. Tyto can be accessed 24/7 and integrated with electronic health records systems and other telehealth platforms such as Teladoc.

In November 2022, the company launched a primary care offering called the “Home Smart Clinic”. The Home Smart Clinic offering includes 1) Tyto’s FDA-approved handheld remote physical examination device 2) AI-powered diagnostic support 3) user engagement services including consulting and marketing services and 4) support for various clinician business models. This new primary care offering works with both providers and health plans to provide patients with a suite of healthcare services. TytoCare has also launched “Home Health Delivery Metrics”, a tracking system to ensure providers are able to carry out their services effectively and ensure positive experiences for patients. As of August 2023, TytoCare provides its services to over 220 health systems and health plans across the US, Europe, Asia, Latin America, and the Middle East.

In March 2023, TytoCare received FDA 510(k) clearance for its wheeze detection algorithm, allowing the company to begin commercialization of the product as part of its Tyto Insights offering. The wheeze detection software utilizes Tyto’s stethoscope device to remotely capture and measure lung sounds and identify signs of wheezing in adult patients and children aged two and above.

Key customers and partnerships

In February 2023, TytoCare partnered with non-profit regional healthcare provider Overlake Medical Center & Clinics , to enhance and expand Overlake’s virtual care services. Through this partnership, Overlake will introduce TytoCare’s “TytoHome” device to its “Concierge Care” service to improve its clinician’s ability to diagnose and treat patients through virtual consultations while carrying out a range of physical tests through smart devices.

TytoCare also partnered with Idaho's St. Luke's Health System to provide its virtual care services to the healthcare provider’s members and employees in Idaho beginning in 2024. Through the partnership, St. Luke members and staff would be given access TytoCare's services, including on-demand virtual visits, with zero copays. Additionally, employees would have access to Tyto's Home Smart Clinic to conduct remote exams via Tyto’s connected devices, including its otoscope, tongue depressor, thermometer, and FDA-cleared smart stethoscope.

Funding and financials

In August 2023, the company aised USD 49 million in a growth funding round led by Insight Partners, along with participation from other venture capital firms and pension funds. The funds were set aside to roll out the company’s Home Smart Clinic offering and develop next-generation AI capabilities for diagnostic support and remote exam assistance.