The 7wire Ventures’ vision is to use the power of mobility, connected devices, the cloud, and sophisticated analytics to further advance industries like healthcare and education. We like to make a difference in things that matter.  The firm was founded on the concept of disrupting the status quo—supporting new ideas, technologies, approaches, and business models for solving society’s most important problems.  7wire Ventures provides funding and operating guidance to companies that challenge the “way things are done.” Through the creation of new businesses, investments in early and growth stage companies, and by complementing funds with insight and experience, we have a track record of transforming great ideas into world-class companies.

7wire Ventures

TELUS Ventures is the strategic investment arm of TELUS Corporation and one of Canada’s most active and longest-standing corporate venture capital (CVC) funds. Since 2001, TELUS Ventures has invested in and advised more than 85 companies that address some of the biggest opportunities and challenges in digital health, IoT, AgTech, digital security and connected consumer sectors.  TELUS Ventures is on a mission to seamlessly connect millions of people, companies and communities by strategically investing in the most advanced and innovative solutions that deliver value to our business and customers, fuel economic growth and deliver a positive social impact.  We are stage agnostic in our approach, and write cheques anywhere from $500,000 to $15M; We focus on horizon 2 / horizon 3 investment opportunities in early stage companies that are synergistic to TELUS and allow us to expand into new markets beyond the traditional telecommunications sector.  We work with best-in-class partners to source, nurture and scale innovation. Our established partner network includes leading incubator, accelerator and global co-investment partners as well as a global consortium of telecom companies with CVC arms.  TELUS Ventures is actively involved in portfolio companies, working directly with management. Our team members regularly act as board members and board observers, lending leadership and experience to guide their growth and success. We provide access to TELUS’ technologies and broadband networks and opportunities to promote our portfolio companies’ solutions across our ecosystem.

TELUS Ventures

Cobalt Ventures is the captive private equity subsidiary of Blue Cross and Blue Shield of Kansas City. With a sole focus on healthcare, we invest in high-growth companies with capabilities that can be scaled and leveraged nationally across the payer universe.

Cobalt Ventures

Leverage Health is a market leader in healthcare Strategy and Business Development. They focus on delivering best-in-class services to the healthcare payer marketplace based on unique and unparalleled industry experience. Their team excels at understanding the needs of healthcare payers as well as the emerging trends in the vendor community. They are the essential strategic partner and coordinator of the payer to an industry-leading solution alignment.

Leverage Health

Cigna Ventures is the arm venture of Cigna, that accelerate growth of start ups in health care industry. The company's mission is to accelerate Cigna’s ability to improve the health, well-being and sense of security of the people we serve by partnering with and investing in innovative companies, and delivering differentiated value in the marketplace. It focuses on harnessing transformative ideas in insights and analytics; digital health and retail; and care delivery and management.

Cigna Ventures

RecoveryOne

RecoveryOne is an innovator in mHealth solutions for patients recovering from orthopedic injuries. The company provides personalized programs that combine digital therapy and live coaching to reduce costs, accelerate recovery, and drive patient satisfaction. RecoveryOne was founded in 2014 and is headquartered in Walnut Creek, California.

RecoveryOne is a digital health company that provides a virtual physical therapy solution for individuals recovering from musculoskeletal (MSK) conditions. RecoveryOne’s MKS Care Solution is supported by a mobile app and includes clinically proven recovery plans, exercises, virtual coaching, and behavior change support. The company's approach involves a coordinated care team comprising licensed physical therapists and certified health coaches. The company claims that its model has improved patient outcomes up to 5%, reduced the need for surgery, and lowered payor costs.

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

PHTI Study Confirms Positive Clinical and Economic Outcomes for Physical Therapist-Guided Virtual MSK Solutions, Including RecoveryOne

Cigna

Cigna Medicare Advantage members in Tennessee will be able to use RecoveryOne's virtual physical therapy and musculoskeletal care solution in-network.

Managing employee health-related benefits

Health Benefits Platforms

Enterprise platforms that help employees and their dependents receive primary or specialist care services as part of their health benefits. These platforms also provide access to Telehealth services, behavioral care services, and remote patient monitoring

Virtual physical therapy solution targeting musculoskeletal (MSK) conditions and injuries is available to nearly two million Cigna customers.

Platforms offer a subscription-based or B2B-sponsored, evidence-based program for managing a specific long-term health condition.

Cigna Corp entered into a partnership with virtual physical therapy provider RecoveryOne (via the formers Evernorth telehealth unit). The partnership will enable Evernorth to provide its users with RecoveryOne's  virtual physical therapy solution for musculoskeletal (MSK) condition

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

Primary care through virtual consultations for general health-related concerns using a digital platform or mobile app. 

RecoveryOne is a digital health company that provides a virtual physical therapy solution for individuals recovering from musculoskeletal (MSK) conditions. RecoveryOne’s MKS Care Solution is supported by a mobile app and includes clinically proven recovery plans, exercises, virtual coaching, and behavior change support. The company's approach involves a coordinated care team comprising licensed physical therapists and certified health coaches. The company claims that its model has improved patient outcomes up to 5%, reduced the need for surgery, and lowered payor costs.RecoveryOne’s proprietary Empowered MSK Care Solution app (i) connects members with a licensed physical therapist to create a personalized recovery plan (Pathway) based on member goals and lifestyle, (ii) records exercise progress and adjusts Pathway based on feedback, (iii) enables ongoing engagement with a certified health coach. Further, the platform incorporates an AI-powered sensorless computer vision technology called Motion Trainer, which provides real-time feedback and guidance to ensure patients perform exercises correctly.Key customers and partnershipsIn 2020, Cigna was the first health plan to introduce RecoveryOne’s MSK care as a consumer tool. And in January 2022, the two companies extended the partnership, making the solution available to Cigna’s employer clients with less than 500 employees.Further in February 2023, RecoveryOne partnered with MSU healthcare to integrate its virtual platform into the healthcare provider's network in Michigan. The company's platform is also included on Express Scripts' Digital Health Formulary.Funding and financialsThe company raised USD 33 million in Series C funding in September 2021 co-led by Cobalt Ventures and TELUS Ventures, which was used to fund the company’s expansion in payer and employer markets.

Cardiomo Care is developing noninvasive wearable devices to alert users and caretakers when there are abnormalities in the heartbeat. The company’s AI engine, trained on existing and growing data sets, can predict potential heart issues up to two hours before they occur, enabling early detection and intervention for arrhythmias and other cardiovascular diseases (CVDs).The company's product, CardiomoPatch, is a waterproof, wearable patch capable of long-term wear with a 10-day battery life. The patch monitors a patient's cardiac data, including ECG outputs, breathing, and skin temperature, and transmits the data via a mobile app for analysis by Cardiomo's AI engine.&nbsp;As of May 2024, the company is yet to commercialize its product and has over 1,600 pre-orders.

Cardiomo Care

Omada is a prevention-focused digital therapeutics startup that helps members achieve health goals through lifestyle changes. It offers four evidence-based, virtual prevention programs for managing hypertension, musculoskeletal (MSK) issues, prediabetes, and diabetes.Omada offers real-time data tracking through connected devices (such as wireless scales, blood pressure, and glucose monitors) and access to personalized coaching sessions via a mobile app as part of its prevention program. It also provides an online community of peers with similar health conditions to discuss challenges and provide support. In May 2021, Omada became the first fully-virtual healthcare provider to earn the National Committee for Quality Assurance’s Population Health Program Accreditation for its type 2 diabetes and type 2 diabetes + hypertension programs.Unlike its peers, Omada operates a performance-based business model where it charges clients an enrollment fee based on the number of users and a performance fee based on how much weight their employees lose. In May 2020, the company acquired virtual physical therapy startup Physera.Key customers and partnershipsAs of May 2024, Omada had more than 1 million members from more than 1,900 enterprise clients across all 50 US states. Its B2B employer and health plan client base include key clients such as American Eagle, Kaiser Permanente, Costco Wholesale, 3M, and Marvin. Additionally, the company has partnered with health systems and hospitals such as Intermountain Healthcare to provide its preventive programs as a covered benefit.In <a href="https://sp-edge.com/updates/15587">January 2023</a>, the company partnered with health service company Castell (a subsidiary of Intermountain Healthcare) to provide its diabetes programs to members from Intermountain Healthcare’s primary care providers in its Utah Medical Group. Further in <a href="https://sp-edge.com/updates/25245">January 2024</a>, the company partnered with Amazon to expand access to its cardiometabolic program.

Omada Health

VillageMD provides primary care services for patients. It also provides tools, technology, and staffing support needed for physicians to deliver high-quality services. VillageMD’s service delivery methods include traditional freestanding clinics, Village Medical at Walgreens co-located clinics, as well as at-home and around-the-clock virtual visits. It also leverages a team-based approach to care where physicians lead nurse practitioners, pharmacists, mental health specialists, and dietitians to offer a holistic care program. The technology of VillageMD includes docOS, an operating system that enables better patient care by connecting various clinical source systems with ongoing patient-generated data coupled with an AI engine to continuously analyze messages to enable patient self-care.The company made several acquisitions to expand its footprint: 1) <a href="https://sp-edge.com/updates/14347">Summit Health</a> for USD 8.9 billion in November 2022, 2) Healthy Interactions, an interactive patient education platform, in February 2022, and 3) <a href="https://sp-edge.com/updates/16968">Starling Physicians</a>, a primary care and specialty care provider, in March 2023.Key customers and partnershipsIn June 2020, VillageMD and Walgreens Boots Alliance announced a collaborative effort to open at least 600 Village Medical centers at Walgreens across more than 30 US markets by 2025. Walgreens invested USD 5.2 billion in VillageMD (from the previously announced USD 1.0 billion), raising its ownership stake to 63% (from 30%).However, as of May 2024, Walgreens had plans to close 160 VillageMD clinics as part of a cost-cutting plan.

VillageMD

Cityblock Health is a value-based healthcare provider focused on delivering comprehensive care to underserved communities, primarily Medicaid and lower-income Medicare beneficiaries. The company combines primary care, behavioral health, and social services to address the complex physical, mental, and social needs of its members.Cityblock's model involves partnering with local community-based organizations and deploying multidisciplinary care teams that include doctors, nurses, behavioral health specialists, and community health workers. These teams provide personalized care through 24/7 access to multi-modal care delivery, including in-home visits, telehealth, and community health hubs.The services of Cityblock are available to members at no additional cost if they are covered by an eligible health plan.Key Customers and PartnershipsAs of May 2024, the company’s services were available in seven states across the US and served over 100,000 members.In May 2024, it partnered with <a href="https://sp-edge.com/updates/29647">Sunshine Health</a> to expand to Florida, and, in <a href="https://sp-edge.com/updates/13270">September 2022</a>, it partnered with MDwise to expand into Indiana. Prior to that, the company had partnered with insurance providers such as ConnectiCare (Connecticut), Tufts Health Plan (Massachusetts), Emblem Health (New York), Healthy Blue (North Carolina), Molina Healthcare (Ohio) and CareFirst (Washington DC).Funding and FinancialsCityblock is a spin-off of Sidewalk Labs, an Alphabet company that incubates and invests in tech companies and products to improve urban infrastructure. It completed a USD 400 million Series D funding round led by Softbank in <a href="https://sp-edge.com/updates/5326">September 2021</a>, valuing the company at USD 5.7 billion. The funds were used to expand its services.

Cityblock Health

Everside Health (formerly Paladina Health) offers preventative care for chronic conditions and primary, mental and occupational healthcare treatments for acute conditions. Patients benefit from around-the-clock access to care, same-day or next-day appointments for in-person, and virtual care visits with zero copays.Everside aims to generate around 17% healthcare cost savings in three years and 31% in five years for its corporate members by leveraging a data-driven approach to care coordination.The company leverages data from past medical records, predictive analytics, and AI in the delivery of preventative care services.Founded in 2010 under the name Paladina Health, the company was rebranded in November 2020 as Everside Health following a merger between three primary care groups (Paladina, Activate Healthcare, and Healthstat). Furthermore, in February 2024, Everside Health merged with primary care provider Marathon Health to form a combined entity that would operate as Marathon Health, and, as of May 2024, the integration was ongoing.Key customers and partnershipPost-merger with Marathon Health, the combined entity would serve 2.5 million patients through over 680 clinics across 41 states.Funding and financialsThe company received its most recent investment in July 2022, amounting to USD 164 million in growth equity funding. The round was led by New Enterprise Associates (NEA). The funds were allocated toward growing its market presence and exploring opportunities for M&amp;A as well as to enhance and improve its product features. Additionally, the firm planned to expand its coverage of specialty care services aimed at individuals, employers, and union organizations.

Everside Health

DPCs offer value-based primary and preventive care services addressing whole-person (social, mental, physical) needs for a fixed monthly or annual fee paid by either the patient, insurance provider, or employer.

Companies offer B2B and D2C evidence-based treatments delivered via software programs to prevent and manage a variety of chronic conditions.

Tools that collect and analyze real-time patient data that supports healthcare providers with clinical decisions,  improves patient outcomes, and reduces medical errors.

Companies offer independent physician practices and hospitals with the tools (patient engagement, care coordination, administrative services) to help manage and improve clinical health outcomes of a defined group of individuals or large populations.

Platforms are used to track and gather patient health-related information via either a connected device or at-home test kits to detect the early onset of disease and identify any abnormalities in readings—but do not include a treatment plan.

To gather large amounts of real-time data for chronic care management, DTx, and patient monitoring

XR used by some startups for chronic pain management

Offers digital means of providing direct primary care, passive remote monitoring, chronic care management, etc.

AI/ML is used in predictive analytics, diagnostics tools, and population management

Offers tailored preventive interventions and treatments to the specific needs and characteristics of each individual

RecoveryOne

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless