In other news, Axena Health has raised an additional $9.4 million to advance the commercialization of its Leva Pelvic Health System, bringing its Series A funding to $30.8 million. The company plans to use the new funds to expand to new territories and develop treatments for low- and middle-income countries. Meanwhile, Sword Health raised $130 million in a sale valuing the company at $3 billion, and Eko Health raised $41 million in a Series D round.
Key takeaways:
- A new report from the Peterson Health Technology Institute suggests that virtual physical therapy services could decrease health care spending for payers that invest in them, potentially saving between $737 and $1,306 per user in the first year.
- Companies in this category include Sword Health, Hinge Health, Omada Health, Vori, and RecoveryOne. However, some companies have criticized the report for oversimplifying its definitions and not considering all potential savings.
- The American Physical Therapy Association issued a mostly positive statement about the report, highlighting the need for virtual solutions that augment existing models and address problems with affordability and accessibility of care.
- In other news, Axena Health raised an additional $9.4 million to advance commercialization of Leva Pelvic Health System, a smartphone connected biofeedback device that guides users through pelvic floor strengthening exercises to treat urinary and fecal incontinence.