Digital Health Startups on the Cusp of an IPO
As the healthcare landscape continues to evolve, the spotlight on digital health startups aiming for initial public offerings (IPOs) grows brighter. Here’s a roundup of the latest developments in the sector:
Rock Health Identifies IPO-Ready Startups
Rock Health, a prominent healthcare venture and advisory firm, has identified 17 digital health startups that are poised for potential IPOs. According to analysts at Rock Health, the recent surge in IPOs within the digital health sector is indicative of a broader trend rather than a fleeting occurrence.
In the past 17 months, nine digital health companies, including Livongo, Health Catalyst, Change Healthcare, Peloton, and Hims, have successfully gone public. Rock Health’s ongoing list highlights startups with substantial funding, exceeding the average pre-IPO amount of $187 million for digital health startups.
While Rock Health emphasizes that these listings are not definitive predictions, they serve as a benchmark for companies positioned to make a Wall Street debut. The list includes startups with robust financial backing and significant potential for market traction.
Resilience and Reinvention in Telehealth
Dr. Timothy Peck, founder of Curve Health, a telehealth startup specializing in remote monitoring and emergency care for senior populations, recently secured $6 million in seed funding. Dr. Peck, previously associated with the shuttered senior care startup Call9, recognized the importance of building a strong leadership team to navigate Curve Health’s growth trajectory amidst the pandemic-driven demand for remote patient monitoring.
Curve Health’s approach underscores the resilience and adaptability within the telehealth sector, particularly in addressing the needs of vulnerable populations in nursing homes and assisted living facilities.
Healthcare Executives’ Political Leanings
In the realm of political contributions, a surprising trend emerges among healthcare executives: a notable preference for Democratic presidential candidate Joe Biden. An analysis of campaign-donation disclosures from 100 major healthcare companies reveals that CEOs from leading organizations such as Merck, Independence Blue Cross, and Kaiser Permanente have emerged as prominent contributors to Biden’s campaign.
Despite Biden’s proposals for tax hikes and healthcare system reforms aimed at controlling prescription drug prices and insurance costs, healthcare leaders appear to favor his platform over that of President Donald Trump. The preference for Biden underscores a desire for certainty and stability in the business environment, amidst ongoing uncertainty and volatility.
As digital health startups continue to innovate and expand their footprint, their journey towards IPOs reflects the evolving landscape of healthcare delivery and technology integration.