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The valuations of many health care startups have ballooned to the point where people wouldn't invest in them now, according to a survey from the venture capital firm Venrock.
Data: Venrock 2017 Healthcare Prognosis; Chart: Andrew Witherspoon / Axios
- Oscar, the young health insurer based in New York, fared the worst in the survey. Just 7% of respondents said they would invest in Oscar and its valuation that hovers near $3 billion.
- Oscar advocates weren't thrilled with the survey. Brian Singerman — a partner at the Founders Fund, which has invested heavily in Oscar — sent this statement to Axios: "There's a reason that venture investing is done with real dollars, and not anonymous surveys. Oscar is well-positioned to succeed in the long term, and the team has the full confidence of their investors."
- Nuna (a Medicaid analytics company) and Clover Health (the Medicare Advantage startup we reported on yesterday) didn't do much better, with only 17% saying they would invest in either company.
- Doctor on Demand, a telemedicine startup, had the most support. Roughly 42% of Venrock's survey respondents would invest in the company, valued at the relatively bargain price of $250 million. Telemedicine is one of those ideas that most people get behind.