Digital excellence. The FDA has launched a new program known as the Digital Health Center of Excellence that aims to advance digital health technologies such as mobile health devices, Software as a Medical Device (SaMD), and medical device wearables. The organization will work to align communication between stakeholders, build strategic partnerships, and modernize digital health policies.
Virtual diabetes gets the green light. Senators Tim Scott and Mark Warner recently introduced a bill known as the PREVENT Act, which would allow virtual diabetes providers such as Livongo and Omada Health to participate in the Medicare Diabetes Prevention Program. This would mark the first time virtual diabetes programs would be included in the CMS program that reimburses for various forms of diabetes care.
MegaBright. Health insurance company Bright Health raised $500M in a Series E round from investors including Blackstone and New Enterprise Associates. The startup plans to use the new funds to scale its existing products, as well as expand its value-based care offerings.
Eargo-ing public. Hearing aid company Eargo has filed for a $100M IPO, just 2 months after closing a $70M Series E. The startup will likely use the additional funding to double down on its direct-to-consumer model.
The $8B GRAIL. Sequencing giant Illumina, which spun-off cancer liquid biopsy startup GRAIL in 2016, acquired the remaining 85% of shares in a deal valued at $8B. The deal positions Illumina to be a major player in the rapidly growing early cancer detection market.
Trippy debuts. 2020 continues to be a breakout year for psychedelic-based therapeutics, with two more companies — Compass Pathways and Mind Cure Health — going public in the past few weeks.
The hospital of the future is more than tech. Rita Khan, Chief Digital Officer of Mayo Clinic, discusses her vision for the hospital of the future and how it must expand beyond just the implementations of new technologies. While she is interested in the value that these new technologies, such as remote patient monitoring can offer, she mentions that stakeholders should adopt a more holistic view of care and further consider the patient experience.