Mobile Health Technologies Rake in Largest Digital Health Investments of August

Fenwick & West Life Sciences Group

The top five digital health investments in August accounted for nearly half of the venture, private equity and angel investments in the sector during the month. Five companies raised $139 million of the $286.8 million invested, and three of the five were mobile health plays.

Mobile health company Chunyu Tianxia took in the largest investment of the month in a $50 million Series C. The Beijing-based company is the developer of an app that provides users with access to healthcare information and online appointment registration. Investors included BlueRun, Pavillion Capital Partners, China International Capital Corporation and Rushan Investment Management.

The second largest investment of August was raised by another mobile health company, Airstrip Technologies, a San Antonio-based company that provides remote patient monitoring in clinical settings. The company received $25 million in an undisclosed round led by Sequoia, Wellcome Trust, Leerink Partners, HCA, Qualcomm, the Gary and Mary West Foundation, Dignity Health and St. Joseph Health.

In the third largest investment of August, Cleveland-based Bravo Wellness, which provides results-based wellness programs, raised $22 million from ABS Capital Partners in a Series A.

And rounding out the top five investments of the month are two deals for $21 million each.

Redwood City-based Comprehend Systems, a SaaS company that offers cloud-based clinical data insight tools for life sciences clinical researchers, received $21 million in a Series B led by Lightspeed and Sequoia, which I represented in this transaction with my colleague Faisal Rashid.

And Fenwick digital health client Doctor On Demand, a San Francisco- based mobile health company that provides video visits with board-certified physicians via smartphone, tablet or desktop computer, represented by a team from Fenwick, closed a $21 million Series A led by Shasta, Venrock and Sir Richard Branson.

This article was first published on the Network on September 22, 2014.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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