Using technology to optimize patient-centric health solutions, Healthtech companies are emerging as a new category of innovation in healthcare. The industry is centered around optimizing personal, preventive care, but has an even greater impact on in-hospital care, including therapeutic technologies and medical devices that treat existing medical issues and diagnostic technologies that detect medical conditions.
The Healthtech Industry
Healthtech startups use cloud computing and internet services to access information or send messages. Some companies provide telemedicine consultations or conduct surveys with electronic health records (EHRs). Others focus on mobility—such as solutions for mobile devices (smartphones, tablets) and wearable technologies that enable people to connect with their providers via mobile apps, text messages, live webinars, and online communities.
Cost Plus Drug Company: Medications at Wholesale Prices
Launched in January 2022, Cost Plus is a pharmacy backed by billionaire investor and reality TV star Mark Cuban offering 100+ generic drugs at wholesale prices. The company offers pricing transparency by pricing every product exactly the same way: Cost Plus marks up 15% from manufacturing cost and adds $3 pharmacy labor cost and $5 shipping.
Hinge Health: Digital Solution to Musculoskeletal Conditions
Hinge Health is the no.1 digital provider of personalized care for MSK pain, covering 21M+ members and 575+ companies, used by four in five employers and 90% of health plans with a digital MSK solution. Hinge Health’s program includes treatment for MSK conditions, a prevention guide, patient educational and behavioral support, and lifestyle modifications.
Lyra Health: Supporting Corporate Mental Health
Lyra Health, a provider of mental health benefits for employees, is among a crop of startups that have focused on expanding access to mental health care for employees at an individual level. To better support employers at an organizational level, the company rolled out new services to offer managers and teams data insights, workplace advisory services, and a multi-modal approach to learning to increase mental health literacy.
Tempus Labs: Using AI/ML to Transform Healthcare
A company utilising AI and machine learning capabilities to benefit the healthcare sector is Tempus, a technologically innovative company which enables physicians to deliver personalized care, in turn collecting data based on patient diagnosis and history, to support the treatment of other future patients. Aggregated data can have multiple benefits, including the use of the information to develop future therapeutics.
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Disclaimer: This Focus List is a proprietary list of the top-5 private companies for which OGCP is currently interested in completing a transaction. This is list based off the various opportunities and demand OGCP has seen for the private companies in the private markets as well as companies OGCP feels are a good investment. Companies on this list are included at the discretion of the author and are subject to change. There is no assurance that any company on the Focus List will be a profitable investment for investors. The Focus List is for informative purposes only and should not be considered as investment advice.