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Health Care & Hospital

HEALTHTECH M A AND IPO ACTIVITY RESILIENT IN THE FACE OF GLOBAL ECONOMIC SLOWDOWN

Vlad Poptamas

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  • Blockchain, data storage, artificial intelligence, patient information and self-service healthcare technology attract motivated buyers

  • Private equity acquisitions on the rise as financial buyers keen to get a foot in the door

  • Medical marijuana a growing sub-sector now commercialised and marketed in US

London, UK – 13 February 2019. The latest Healthtech M&A Market Report from international technology mergers and acquisitions advisor, Hampleton Partners, revealed a final count of almost 100 deals in the healthtech sector in the second half of 2018.

Transaction volume remained steady compared to 1H2018, inching down by a mere six per cent and thus remaining in line with a remarkably stable trend since 2013. The trailing 30-month revenue multiple rose again to 2.8x EV/S, prolonging a trend visible over the last 18 months, since the increase to 2.8x in 2H2017 from a lower 2.1x EV/S in 1H2017.

In 2018, 186 healthcare companies went public, bringing aggregate gross IPO proceeds for the year to $24 billion, up from only $15 billion in 2017.

Largest healthtech transactions

The largest disclosed deals in the second half of 2018 included Veritas Capital and Evergreen Coast Capital’s joint private equity acquisition of athenahealth for $5.7 billion, at an attractive 17.3x EV/EBITDA. Athenahealth provides electronic healthcare record management SaaS for hospitals and healthcare practices in the U.S.

Second, at $1 billion, came the acquisition of M*Modal by 3M. M*Modal provides clinical documentation, transcription and EHR SaaS for the medical sector.

Dutch tech and health giant Philips remains the sector’s most consistently active acquirer, with a total of seven acquisitions over the past 30 months, including Blue Willow Systems and its tracking and alert-based systems for senior living facilities.

Jonathan Simnett, director and healthtech specialist at Hampleton Partners, said:

“The rise of lifestyle diseases, an ageing population and higher patient expectations are compelling both public and private healthcare systems to incorporate technology to improve productivity, cost-efficiency and patient satisfaction.”

Medical marijuana

M&A activity is now featuring in the medical marijuana sector, following regulatory changes in 10 U.S. states and Washington D.C.  In November, cannabis network marketing website Leafbuyer Technologies Inc acquired Greenlight Technologies, a cannabis ordering and rewards mobile application. The app includes features such as loyalty programmes and real-time customer data analytics. It enables consumers to pre-order cannabis products and collect the orders at their local store. Such acquisitions are likely to become more frequent across the US as regulations continue to evolve.

Key trends in healthtech

  • Established technology companies such as Amazon, Samsung and Cisco are looking for synergies and ways to enter the healthtech sector.

Key examples of this trend include Amazon’s acquisition of online pharmacy service PillPack for $1 billion earlier in 2018, and Samsung’s current collaboration with Stanford University and start-up Syncthink to study the use of VR in establishing concussion severity. In addition, Cisco is working with GE Healthcare and Philips to provide the network support for device connection, security and data integration in healthcare.

  • Self-service tech, such as health-monitoring software, drug-tracking apps or remote consultation interfaces, is generating interest amongst strategic and financial acquirers.

  • All eyes are on data, especially as blockchain continues to disrupt the market with new ways of storing, securing and managing medical data

  • The move to the cloud continues, with SaaS healthtech companies driving innovation for public and private health practices

Healthtech in 2019

Jonathan Simnett concluded:

“The M&A landscape in healthtech remains promising.  Big tech companies are entering the healthcare sector and healthcare professionals are keen to adopt technology that makes everything from transcribing patient notes, to diagnosis and treatment more effective and cost-efficient. New markets are

being created by millions of consumers now monitoring their own health via apps and online programmes at home and on-the-go and by medical marijuana deregulation.

“Patient-oriented self-service healthtech billing and payment management, SaaS, EHR patient data and medical records systems will remain in particularly high demand by buyers, along with emerging blockchain applications which can improve the security and traceability of patient data, pharmaceuticals and surgical equipment.”

ENDS

Media enquiries, photography or interview requests, please contact:

Jane Henry

Email: jane@marylebonemarketing.com

Mob: +44 789 666 8155

Note to Editors:

Hampleton Partners’ Healthtech Market Report 1H 2019 is compiled using data and information from the 451 Research database (www.451research.com).

About Hampleton Partners

Hampleton Partners is at the forefront of international mergers and acquisitions and corporate finance advisory for companies with technology at their core. Hampleton’s experienced deal makers have built, bought and sold over 100 fast-growing tech businesses and provide hands-on expertise and unrivalled advice to tech entrepreneurs and companies which are looking to accelerate growth and maximise value.

With offices in London, Frankfurt and San Francisco, Hampleton offers a global perspective with sector expertise in: Automotive Technology, IoT, AI, FinTech, Hi-Tech Industrials & Industry 4.0, Cybersecurity, VR/AR, HealthTech, Digital Marketing, Enterprise Software, SaaS & Cloud, eCommerce.

Follow Hampleton on LinkedIn and Twitter.

For more information visit https://www.hampletonpartners.com

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There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
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Clinical Trials & Medical Discoveries

IBM Watson Health Invests in Research Collaborations with Leading Medical Centers to Advance the Application of AI to Health

Vlad Poptamas

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IBM Watson Health (NYSE: IBM) today announced plans to make a 10-year, $50 million investment in research collaborations with two separate academic centers – Brigham and Women’s Hospital, which is a teaching hospital of Harvard Medical School, and Vanderbilt University Medical Center – to advance the science of artificial intelligence (AI) and its application to major public health issues.

The scientific collaborations with each institution will focus on critical health problems that are ideally suited for AI solutions. Initial areas of study are expected to include the use of AI to improve the utility of electronic health records (EHRs)[1] and claims data[2] to address significant public health issues like patient safety[3], precision medicine[4] and health equity[5]. The research will also explore physician and patient user experience and interactions with AI technologies.

“Building on the MIT-IBM Watson Lab announced last year, this collaboration will include contributions from IBM Watson Health’s longstanding commitment to scientific research and our belief that working together with the world’s leading institutions is the fastest path to develop, advance, and understand practical solutions that solve some of the world’s biggest health challenges,” said Kyu Rhee, M.D., M.P.P., vice president and chief health officer at IBM Watson Health. “Today, for example, physicians are spending an average of two hours with their electronic health records and deskwork for every hour of patient care,[6] a phenomenon the American Medical Association says is leading to a steady increase in physician burnout.[7] AI is the most powerful technology we have today to tackle issues like this one, but there is still a great deal of work to be done to demystify the real role of AI in healthcare with practical, proven results and clear-cut best practices. By putting the full force of our clinical[8] and research team[9] together with two of the world’s leading academic medical centers, we will dramatically accelerate the development of real-world AI solutions that improve workflow efficiencies and outcomes.”

Drawing on the respective areas of expertise from each organization, the collaborations will be a joint effort among IBM Watson Health’s newly appointed vice president and chief science officer, Gretchen Purcell Jackson, M.D., Ph.D., David Bates, M.D., M.S., chief of general internal medicine at Brigham and Women’s Hospital, and professor of medicine at Harvard Medical SchoolKevin Johnson, M.D., M.S., chair of the department of biomedical informatics at Vanderbilt University Medical Center, and Gordon Bernard, M.D., executive vice president for research, at Vanderbilt UniversityMedical Center.

“IBM Watson Health has had a long history of leading in scientific research,” said Jackson. “These collaborations give our scientists at IBM Watson Health the opportunity to work with some of the best health informatics researchers in the world to advance the field in the areas of artificial intelligence, clinical decision support, and implementation science. Medical data is expected to double every 73 days by 2020[10]. As a practicing surgeon, I often had to make critical decisions about children’s lives without time to dig for information buried in electronic health records or sift through thousands of studies in the literature. Our collaborative research will unlock new insights that affect broad health stakeholders: from providers, payers, governments, and life science companies to ultimately the most important stakeholder, patients, and seek to improve health around the globe.”

“We all know that the future of health belongs to AI but today health around the globe is siloed and not actionable, making timely insights difficult to obtain,” explained Bates. “Through AI, we have an opportunity to do better, and our hope is to find new ways through science and partnerships with industry leaders like Watson Health to unlock the full potential of AI to improve the utility of the EHR and claims data to address major public health issues like patient safety.”

Johnson added: “I have committed my career to using health information technologies to deliver precision medicine, promote health equity, and understand the human-machine interface and opportunities to improve public health. As the largest biomedical informatics department in the U.S., we have been a longstanding leader in understanding the role and potential of new technologies like AI. We are excited to work with a leader like IBM Watson Health and we look forward to expanding the relationship as Watson Health continues to grow.”

For more information about the collaborations or the science behind AI in health, please visit the website. Interested parties can also find more information at the IBM Watson Health booth at the HIMSS conference located at booth # 6459.

 

SOURCE IBM Watson Health

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Canada

Sundial to enter Canada’s largest cannabis consumer market after securing a supply agreement with the province of Ontario

Vlad Poptamas

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Photo source: theleafnews.com
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Sundial Growers Inc. (Sundial) is pleased to announce it has secured a cannabis supply agreement with the Ontario Cannabis Store (OCS).  The agreement will give Sundial access to Canada’s largest cannabis consumer market, contributing to its vision of becoming one of the most trusted cannabis companies.

Sundial recently announced amended licences and added cultivation space at its flagship facility in Olds, Alberta.  Through this added growing capacity, Sundial will scale production of high-quality cannabis to serve both the adult-use and medical markets across the country.

“While the immediate focus for Sundial remains on ensuring uninterrupted supply to our existing customers, the Ontario market will be critical for Sundial’s long-term strategy of establishing a considerable distribution network in Canada,” said Andrew Stordeur, Chief Commercial Officer at Sundial. “We truly appreciate the due diligence initiated by the OCS during the competitive approval process and we are confident it will be a great partnership moving forward.”

The OCS is the province’s sole legal online retailer and wholesaler for recreational cannabis. Its focus is on providing safe and responsible access to recreational cannabis through its online retail store and operating the wholesale distribution network for legal private stores in Ontario.

Sundial crafts premium quality, small-batch cannabis with its best-in-class facilities. Sundial differentiates itself from other licensed producers by growing “craft-at-scale” cannabis using purpose-built modular systems and award-winning genetics.

For more information about Sundial Growers Inc., visit www.sundialcannabis.com and follow us on Twitter @sundialcannabis and Instagram @SundialCannabis.

 

SOURCE Sundial Growers

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Computer Electronics

Medivis Launches with $2.3M in Funding to Transform Surgical Visualization

Vlad Poptamas

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Photo source: prweb.com
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Medivis, a medical imaging and visualization company, today officially unveiled “SurgicalAR,” its augmented reality (AR) technology platform for surgical applications, at HIMSS 2019. As a Microsoft technology partner, Medivis will be showcasing SurgicalAR at the Microsoft booth #8300.

Leveraging Microsoft HoloLens, SurgicalAR enables physicians to overlay images directly onto the patient, allowing for superior precision and real-time decision making — in and out of the operating room. With SurgicalAR, physicians can now further mitigate surgical complications and ensure patient safety. The company is also announcing it has closed a $2.3M seed round led by Initialized Capital.

“Surgeons today still rely on 2D images to display patient data, requiring practitioners to turn their visual attention away from the patient,” said Osamah Choudhry, MD & CEO of Medivis. “They are forced to use their imagination to mentally fuse and display data in order to accurately plan and perform surgery with precision. This is incredibly difficult and inefficient for the practitioner and leaves the door open to potential error. SurgicalAR was developed to enable superior utilization of medical imaging data to maximize accuracy, improve surgical outcomes, and ensure patient safety in the operating room. This technology represents the next big paradigm shift in medical imaging and will revolutionize the entire imaging spectrum from pre-operative planning to modern surgical navigation.”

With SurgicalAR, surgeons can:

  • Improve Surgical Accuracy: True depth perception enhances visuospatial understanding which considerably improves surgical planning and performance.
  • Make Better Decisions, Faster: AR brings raw imaging data to life in a hands-free spatial environment, making accurate, real-time decision making possible.
  • Improve Patient Outcome & Safety: Holographic overlays increase surgical precision and reduce time spent in the operating room.

Medivis was purpose built for enterprise-level healthcare organizations. The platform works seamlessly with any legacy infrastructure and enables surgeons to directly sync and integrate with hospital picture archiving and communication systems (PACS) in record time.

“When we first met Osamah and Chris, we immediately understood the magnitude of the problem they were determined to solve. Medical imaging as it relates to surgical procedures has largely been neglected, leaving patients open to all sorts of complications and general safety issues,” said Eric Woersching, General Partner, Initialized Capital. “We took one look at Medivis’ platform and knew they were poised to transform the operating room. Not only does their hands-free approach to visualization meet a real need for greater surgical accuracy, but the team has the passion and expertise in the medical field to bring it all to fruition. We couldn’t be more thrilled to welcome Medivis to the Initialized family.”

To get a glimpse into the future of AR in healthcare, watch Medivis Co-founder, Dr. Christopher Morley speak at the Verizon Keynote at CES 2019.

 

SOURCE Medivis

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