In Venrock’s annual survey of healthcare leaders, respondents expected most digital health startups that went public during the pandemic to see their valuations fall by the end of the year.
The San Francisco-based startup is one of several that have been raising money over the past couple of weeks in areas like neurology, oncology and women's health.
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Although the majority of respondents believe the creation of new healthcare IT companies will increase significantly or somewhat over the next two years, they still have concerns regarding talent/hiring and funding.
The appointment of Grand Rounds Chief Medical Officer Ami Parekh fits with the company's broadened mission and ambitions to become a health navigator for the employer market.
The Medicare Advantage startup pitches itself as a "payvidor" as it goes against a host of competitors including Bright Health, Clover Health and Oscar Health.
The oversubscribed round comes just four months after acquisition of GSK's gene therapy portfolio.
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A Venrock survey of 300 healthcare industry insiders spanning health IT vendors, investors, healthcare providers and professional service folks offered a window into their thoughts on investment regrets and sources of concern for digital health.
Top Silicon Valley venture capitalists advocate for machine learning, deep learning and AI to be used in non-clinical applications where you wouldn't have to worry about FDA and the potential to harm a patient.
"We now need to do more work on creating local market competition and price pressure," said Venrock Partner Bob Kocher in a Q&A.
Who will be the winners and losers of health IT consolidation as M&A activity ramps up and the appetite for IPOs cools?
The health care sector is constantly operating, so patient miscommunication can occur at any time. Find out the top-rated companies that provide medical interpretation services.
Virta Health's approach is designed to help patients lower their hemoglobin A1c levels and reduce or eliminate prescription medications. The goal is to reverse the effects of Type 2 diabetes, and cure it.
Venrock has closed its eighth fund, raising $450 million for future technology and healthcare investments. According to Venrock Partner Bryan Roberts, it's a size that will optimize performance; "not too big and not too small, but just about right."
"I'm a skeptic of public market valuations, but a true believer in biotechnology," said Hans Hinrichs, managing director of Silicon Valley Bank's Life Sciences and Healthcare Group. "We're probably sitting on the biggest opportunity in the history of investment."
Also, AstraZeneca has agreed to acquire ZS Pharma in a $2.7 billion deal.
There's a growing sense of angst and frustration in the "data liberación" movement these days, and much of it has do with the difficulty of fighting the status quo in healthcare.