Global health-tech firms see funding traction: Mercom Capital report

Makers of wearable devices and data analytics and telemedicine companies from the global healthcare tech sector are witnessing a spurt in funding, according to a study by Mercom Capital Group, Llc.

The first quarter (January to March) report of the research firm said that there is a 27% rise in the number of venture capital and private equity deals against the fourth quarter of 2015 (Q4 2015).

Funding—venture capital, private equity and corporate venture capital—in digital health and healthcare IT sectors across the world stood at $1.4 billion in 146 deals, which was $1.1 billion in 145 deals in Q4 2015.

On an yearly basis, the number of deals went up by 74%. Total corporate funding raised in the sector, including debt and public market financing, for Q1 2016 was $1.5 billion, the research report released on Monday said.

“The health IT sector is off to an impressive start this year with significant funding activity in the first quarter led by wearables, data analytics and telemedicine. Data analytics and telemedicine companies reached a significant milestone, each crossing $1 billion in funding raised to date. Health IT public companies, meanwhile, continued to underperform,” said Raj Prabhu, chief executive and co-founder of Mercom Capital Group.

Back home in India, the first quarter saw healthcare apps attract most of the funding.

Child health and wellness app BabyBerry raised $1 million angel funding; Healthenablr, an app for booking doctor appointments, raised $800,000 seed funding; Lovecycles, a menstrual and psychological health-tracking app raised $741,000; Touchkin, a predictive personalized care app, raised $400,000 in seed funding, among other healthcare tech companies.

Globally, the top-funded areas in the first quarter were wearables and sensors with $260 million, data analytics companies with $197 million, telemedicine with $171 million, mHealth apps with $120 million, and consumer health information and education with $100 million.

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This story was first published on Livemint

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.