TytoCare Closes $11 Million of New Funding For the Upcoming Launch of its Telehealth Home Exam Platform
TytoCare Ltd., a company developing state-of-the-art handheld devices and telehealth platform enabling patients to perform home medical examinations and consult with a remote clinician, is closing an $11 million Series B round led by Cambia Health Solutions. TytoCare is also backed by major investors including OrbiMed Advisors, Walgreens, Fosun Pharma and LionBird.
The TytoCare device allows patients to perform a variety of examinations as part of a telehealth visit, all from the comfort of their own home. The TytoCare advanced cloud platform provides secured communication, data repository, analytics and data sharing between patients, clinicians and healthcare organizations.
“TytoCare is addressing key limitations in the rapidly expanding use of telehealth for remote patient diagnosis of common acute problems,” said Dedi Gilad, TytoCare’s founder and CEO. “At present, the range of telehealth diagnoses is limited because clinicians must rely on phone or video conference only, without the benefit of vital clinical information provided by physical exam tools in the provider setting. TytoCare can remove these limitations with its connected examination technology.”
The TytoCare devices use proprietary guidance and navigation technology to enable a layperson to collect and transmit high resolution digital images and video of the ear, nose, throat or skin, as well as lung and heart sounds. Additionally, TytoCare can capture and report vitals including body temperature and heart rate. The TytoCare platform enables seamless and secure interaction between patients and physicians over the web, as well as provides comprehensive big data repository and analytic capabilities.
“TytoCare is revolutionizing remote diagnosis, enabling the delivery of primary care in more convenient and cost effective settings,” said Cambia Assistant Director of Strategic Investment Anisha Sood. “The TytoCare platform provides the missing link in telehealth that can increase its adoption, utilization and clinical quality, improving consumer convenience and ensuring quality care. By improving health care quality and access, the TytoCare investment helps achieve Cambia’s mission of making the health care system person focused and economically sustainable.”
“We are thrilled to bring on Cambia as a strategic investor and look forward to working with them as we finalize our US market launch,” Gilad added. “This round of funding will help us to expedite our growth in the U.S., attain FDA approval and execute a successful commercial launch.”
TytoCare Ltd. is a consumer-focused telehealth company, offering state-of-the-art, patented devices and platform that empower anyone, anywhere and anytime to perform a variety of medical examinations and seamlessly consult with a clinician. The company was founded by Dedi Gilad, Ofer Tzadik and industry experts in 2012. TytoCare received previous funding from OrbiMed, Walgreens, Fosun Pharma, LionBird, Teuza VC and others. For more information about TytoCare visit www.tytocare.com.
About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Oregon, is a health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. Cambia’s growing family of companies range from software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, we are delivering solutions that make quality health care more available, affordable and personally relevant for everyone. To learn more, visit cambiahealth.com or twitter.com/cambia.