Wednesday September 25 saw the U.K. launch of a device that has the potential to change the way ultrasound scans are performed. In a nutshell, Butterfly Network‘s technology turns a smartphone into an ultrasound machine, but the catchy tagline is arguably reductive for a company with its sights set on democratizing healthcare for the 4.7 billion people around the world lacking access to medical imaging. Already, the company has raised $250 million investment at a $1.25 billion valuation from the likes of The Bill and Melinda Gates Foundation, Fidelity and Fosun Pharma, demonstrating their global intent.
After more than thirty years in development and almost $1 billion of investment, a malaria vaccine is now being deployed in three African countries: Malawi, Ghana and, as of last week, Kenya, where it is now part of children’s routine immunization schedules.
On September 20, InsightRX, a precision medicine company, announced the closing of a $10 million Series A funding round led by HealthX Ventures with participation from Rock Health, OSF Healthcare, Leawood Venture Capital, Premier Inc. and previous investor GreatPoint Ventures.
Today, Healthy.io, an Israel-based healthtech startup that turns smartphone cameras into urine-testing medical devices, has announced a $60 million Series C funding round. The company has also received FDA clearance from the U.S. Food and Drug Administration (FDA) for its smartphone-based test to be used in the aid of diagnosing chronic kidney disease (CKD), which affects over 35 million Americans.
A new report by consulting firm EY suggests that if the U.K. National Health Service (NHS) datasets were put to use, their value could be up to £9.6 billion ($12 billion) per year. This data is held within 55 million patient records and according to the report, a typical electronic health record is worth about £100 ($125), while one that’s linked to detailed genomic data can fetch as much as £5,000 ($6,200). That means an overall value of £5 billion ($6.2 billion) to commercial partners and £4.6 billion ($5.7 billion) per year in health economic benefits to patients.