Several hospital telehealth vendors enjoyed great success in 2020 as they benefitted from unprecedented demand for their IT and services during the pandemic. But as lockdown restrictions were lifted and the strain on hospitals’ in-house capacity across the ICU and other acute care wards eased into the second half of 2021, were the vendors able to maintain their growth? With full-year results from several of the leading hospital telehealth vendors now published, here’s our take on the recently
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Avizia
AmWell IPO and Google Deal – Five Key Takeaways to Know
1) COVID-19 Has Driven Revenue Up 77%
The headline revenue data (summarised below) provides very positive news for AmWell and its new investor, Google. Notably:
- Even prior to COVID-19, the company was growing well with revenues increasing by 31% in 2019 compared to 2018.
- This rate of growth has accelerated in 1H20, with overall revenue up 77% in the same period in 2019.
- The 2019 growth was partly driven by a small increase in the number of health plan subscription customers and
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3 Takeaways From The 2019 HIMSS & Health 2.0 European Conference
The HIMSS & Health 2.0 European Conference attracted over 2,600 delegates from 64 countries to Helsinki in June 2019. While there was a strong focus on healthcare in the Nordics, the conference brought with it a wide variety of vendors from across the globe all looking for new opportunities on the show floor. Our key takeaway – the goal to change mindsets in Europe towards how healthcare can be improved through the use of technology. We look at a few examples below, namely:- Developing
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Analysis: Philips’ Evolution to a Pure-play Healthcare Technology Vendor
The last two-to-three years we have seen Philips complete its transformation into a pure-play healthcare technology vendor. It has reduced its interest in its remaining non-healthcare business Philips Lighting/Signify (now owning only a 16.5% share), made 16 healthcare technology acquisitions since the start of 2017 and organized its internal business units into three core healthcare technology segments, Personal Health, Diagnosis & Treatment and Connected Care. A few weeks ago, several of
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ATA 2019 Show Report – Don’t Be Fooled by First Impressions
2019 will be a big year for telehealth, but for those attending ATA 2019 in New Orleans last week, it may not have seemed so on the surface. Particularly given that attendee numbers peaked several years ago and one-or-two high-profile regulars, such as Philips and Vidyo, were also missing from the exhibition floor this year.With telehealth enjoying center-stage coverage at HIMSS (only two months ago) and being a key theme at consumer electronics/telecoms shows such as CES and MWC, the annual ATA
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HealthQuest Capital Closes $440M Fund to Invest in Innovative Growth-Stage Companies
HealthQuest Capital, a Silicon Valley-based growth capital firm has closed a $440 million fund to invest growth-stage companies delivering innovation across all sectors of the healthcare industry to improve patient outcomes, enhance efficiency and reduce costs. Fund III was oversubscribed and closed at a hard cap. Target markets for Fund III include growth- and commercial-stage companies focusing on medical technologies, diagnostics, digital health, and innovative services.HealthQuest Capital
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Avizia Acquires Virtual Care Provider Carena to Boost Telehealth Market Share
Telehealth provider Avizia has acquired Seattle-based leading virtual care provider Carena to reinforces its position as the largest and most comprehensive telehealth solutions partner for health systems nationwide. Founded in 2000, Carena designs and operates virtual clinics for health systems and provides access to care for more than 35 million consumers. Financial terms of the acquisition were not disclosed. As part of the acquisition, Ralph Derrickson, president and CEO of Carena will
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Avizia Expands Virtual Care Platform to Clinical Staff Across 30 Specialties for Providers
Avizia, an end-to-end telehealth solution provider is expanding their existing enterprise virtual care platform to include clinical staff in 36 specialties with the launch of its provider network services. As part of the partnership with MLS Telehealth, a physician-run organization providing clinical staffing services in 50 states for more than a decade, Avizia will provide its customers access to industry-leading, highly credentialed, board certified physicians. This move marks the next
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Avizia Launches Virtual Care SDK for Providers to Enable Telehealth Visits on Mobile Apps
Avizia, a provider of end-to-end telehealth solutions has unveiled a new software development kit (SDK) that enables health systems to integrate Avizia's premier telehealth capabilities into their own mobile apps . A solution for providers looking to improve the consumer health experience, the Avizia Virtual Care SDK adds valuable features to mobile apps while connecting to the Avizia ONE telehealth platform to effectively and efficiently scale and manage telehealth services.As a part of this
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Northwell Health Taps Avizia to Develop Robust, Direct-to-Consumer Telehealth Platform
Northwell Health has a new partnership with Avizia, an end-to-end telehealth provider to develop a robust, direct-to-consumer telehealth platform to enable seamless care in its 21 hospitals and more than 550 outpatient practices throughout New York. In addition to becoming a strategic channel partner, Northwell Ventures, the health system’s corporate venture arm has made a direct-equity investment in Avizia The investment and partnership also marks the close of Avizia’s funding round, bringing
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