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        Digital-first physical therapy provider Kins has raised USD 4 million in a seed funding round led by W Health Ventures along with participation from individual investors in the healthcare industry. This brings the total funds raised by the company to USD 7.2 million.
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        The funds will be used to develop its hybrid physical therapy model, which includes virtual care and in-home care. The firm also plans to expand its geographical footprint.&nbsp;
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        New York-based Kins is a specialized telemedicine provider that offers a hybrid care delivery model for physical therapy. Services include an initial home visit by a physical therapist, followed by either virtual or in-person sessions at home. The firm currently partners with several leading health plans, and individuals can access Kins&rsquo; service via their insurance provider or opt for self-pay.
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  <p>
    <a href="https://www.finsmes.com/2022/06/kins-raises-4m-in-seed-funding.html">
      FinSMEs
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  </p>
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Telehealth

Kins raises USD 4 million in seed funding

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 <p>Sibel Health, a provider of virtual care, has received a grant of USD 17.5 million from the Bill &amp; Melinda Gates Foundation to increase accessibility of its FDA-approved wireless monitoring solution, ANNE One. This funding brings the total capital raised by the firm to USD 52.7 million.</p>
 <p>The investment will be utilised to improve its platform by integrating artificial intelligence-based clinical decision support and point-of-care ultrasound. These enhancements aim to support labour triage and ongoing maternal health monitoring in low- and middle-income nations. As of April 2024, Sibel Health has monitored over 12,000 pregnancies in these countries.</p>
 
</div>

Sibel Health receives USD 17.5 million grant

<div>
 
 <p>Summer Health, an online pediatric care service, has raised USD 11.65 million in a Series A funding round. The joint venture was led by 7wire Ventures and Lux Capital and also saw participation from notable investors such as Sequoia Capital, a company owned by Melinda French Gates, and Leaps by Bayer. With this new addition, Summer Health's total fund tally stands at USD 19.2 million.</p>
 <p>The funds secured will be utilized to expand the company's care distribution through business and consumer channels, address the growing shortage of pediatricians, and add diversity to its existing healthcare services.</p>
 <p>Based out of New York, Summer Health provides remote pediatric care. The company's platform functions via messaging, allowing parents to virtually consult board-certified pediatricians within 15 minutes for an array of health issues, from common colds to sleeping and feeding trouble. In case a patient requires a more direct form of care, the platform suggests local medical facilities depending on the patient's location. Since Summer Health began its services, it has assisted thousands of parents. As of April 2024, the company offers its services on a monthly subscription basis, priced at USD 36 or USD 64, and is functional throughout the 50 states.</p>
 
</div>

Summer Health raises USD 11.65 million in Series A funding

PROMINENT_CATEGORY

<div>
 
 <p>Maven Clinic, a digital platform specializing in women's and family health, has introduced a Trying-To-Conceive (TTC) health coaching program designed to assist individuals experiencing difficulty with conception, specifically those who opt against in vitro fertilization methods.</p>
 <p>Through the TTC health coaching program, tailored support, education, and specialist referrals will be available to obstetric patients. Maven Clinic's offerings extend beyond typical healthcare services, incorporating capacity for virtual doctor consultations. In line with its growth plan, Maven is onboarding a diverse spectrum of specialists to its reproductive urology provider network. In addition, access to provider types addressing male fertility care has been increased, enabling all-encompassing care for male fertility issues. These enhancements will serve as regular features for current Maven clients, offering enriched benefits through its digital health platform.</p>
 
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Maven Clinic launches Trying-To-Conceive health coaching program

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 <p>MemorialCare, a healthcare system in Southern California, has entered a partnership with Abridge, a company providing AI technology for clinical document automation. The goal of the collaboration is to lessen the administrative burden on doctors and improve patient care.</p>
 <p>As part of the collaboration, Memorial Care will integrate Abridge's AI system into its existing Epic-based workflow. This will make managing medical records more efficient, thus allowing doctors to dedicate more time to patient care. The Abridge platform, already successful in various healthcare systems across the country, supports more than 50 specialties and offers services in 14 languages as of April 2024.</p>

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MemorialCare partners with Abridge to streamline clinical documentation

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 <p>Hinge Health, a company that provides digital solutions for musculoskeletal conditions, is planning to reduce its workforce by approximately 10%. This decision is a strategic move to speed up the company's profitability, improve decision-making, and prioritize investments as it prepares for an Initial Public Offering (IPO).</p>
 <p>Various departments will be impacted by the layoffs, including the engineering department. Prior to this, the firm had over 1,700 employees. Amid these changes, Hinge Health plans to dedicate resources to assist the employees leaving the company during this period of transition.</p>
 
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Hinge Health cuts 10% of workforce aiming for increased profitability

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 <p>The California health system, Cedars-Sinai, has expanded its virtual healthcare platform, Cedars-Sinai Connect, by introducing a Spanish version of the app for parents of children aged three to 17 and Spanish-speaking adults. The AI-powered platform provides access to healthcare providers for urgent issues such as colds, rashes, flu, and coughs on-demand or via scheduled visits. Spanish-speaking users can navigate the app in their native language to access primary care services for managing chronic conditions.</p>
 <p>Cedars-Sinai, a non-profit medical center, provides both in-person and virtual healthcare services. The organization's in-care facilities include a comprehensive suite of testing and treatment facilities. Meanwhile, their Cedars-Sinai Connect platform caters to primary, urgent, and mental health care services. Cedars-Sinai also engages in numerous research initiatives and functions as a clinical research organization conducting trials across various fields, such as stem cell biology, immunology, and genetics. As of April 2024, the organization operated over 40 in-person care facilities offering treatment in over 17 specialties. It had a staff size exceeding 4,500 physicians and nurses and was managing 1,500 ongoing research projects.</p>
 
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Cedars-Sinai expands virtual healthcare platform

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 <p>AI-based automation platform, Augmedix, has collaborated with Andor Health to integrate its system with Andor's ThinkAndor platform, a tool designed for provider-patient virtual communication and monitoring. The partnership enables instant availability of physician notes within ThinkAndor after a virtual visit, made possible through Augmedix's AI.</p>
 <p>This joint venture is focused on effortlessly blending into the existing workflow while making certain of high-quality documentation and care delivery.</p>

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Augmedix partners with Andor Health to integrate AI-enabled physician notes into virtual care

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 <p>Telehealth firm, American Well (Amwell) has been warned by the New York Stock Exchange (NYSE) due to its share price averaging less than USD 1. The company has six months to get its share price back over this level. </p>
 <p>Amwell's share price decline is largely attributed to strategic failures, increased competition, hastened product releases, and reduced revenue. The company plans to address these problems and is considering a reverse stock split, provided it gets the approval of its board and stockholders.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Despite reporting total virtual visits of 6.3 million and having about USD 372 million in cash and short-term securities, Amwell recorded gross losses of USD 679 million in <a href="https:<br>
//s25.q4cdn.com/628195074/files/doc_financials/2023/q4/AMWL-Q4-2023-Earnings-Report-FINAL.pdf"> FY2023 </a> . The company, however, expects improvements by 2025 with projected YoY revenue growth of ~30% between 2024 and 2025, and a 72%–77% improvement in its YoY adjusted EBITDA during the same period.</p>

Amwell receives warning from NYSE; delisting risk amid stock price downturn

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<p>Teladoc Health's CEO, Jason Gorevic, has decided to step down from his position after a 15-year tenure and amid a 22% stock decline in February. The current Chief Financial Officer, Mala Murthy, will take on the role of interim CEO until a permanent successor is found.</p>

<p>The company's stocks began to plummet after Teladoc revealed its financial results for FY2023, showing that it hadn't met its fourth-quarter earnings estimates for 2023. The firm is expecting revenues in the range of $630 million to $645 million, which would result in a per share net loss of $0.45 to $0.55.</p>

<p>Murthy has assured that Teladoc plans to maintain its operations efficiently during this transition phase. An executive search firm has been employed to identify the next CEO, with potential candidates being sourced both from within the company and externally.</p>

</div> <p><b>Analyst Quicktake:<br>
 </b> Teladoc has faced some difficulties in the recent past. From its historic USD 13.7 billion loss in <a href="https:<br>
//sp-edge.com/updates/16563"> FY2022 </a> after its acquisition of Livongo, to having to fight a multi-year <a href="https:<br>
//sp-edge.com/updates/19974"> securities class action lawsuit </a> (which was only resolved last year), the company has had its share of turbulence. These events have reflected in its share price&nbsp; which has plummeted from a high of ~USD 293 in February 2021 to its price today of ~USD 14, signaling a lack of confidence in the company.</p>

Teladoc Health CEO steps down

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<p>Kyruus Health and Google Cloud have partnered to add Kyruus Connect for Payers solutions to the Google Cloud Marketplace. Kyruus Health, serving over 90 million members from various health plan brands, can now enhance its services through Google Cloud integration. This collaboration enriches the health tech solutions provided on Google Cloud Marketplace and makes it easier for customers to purchase Kyruus Health solutions.</p>
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All Updates