Illustration: Natalie Peeples/Axios
Last updated Sept. 19, 2023
An aging population, combined with an ongoing shift of care to lower-cost settings, is underwriting growth in demand for remote and home-based cardiac companies.
Why it matters: With heart disease leading the nation in causes of death, cardiology care has emerged as the single largest driver of health care spending.
Recent investments include:
- CardioOne, a Houston, Texas-based clinic-facing heart care enabler collected $8 million in seed funds in September.
- Value-based heart care enabler Karoo Health in June raised $3.4 million in seed funding.
- HealthSnap, a Miami-based virtual chronic care platform developer that focuses in cardiology, raised $9 million in Series A funding in May.
- Volta Medical, a French health company that developed AI-enabled cardiac technology, raised €36 million in Series B funding in January.
- Remote patient monitoring company Hello Heart last summer amassed $70 million in Series D funds.
- Wearable heart failure detection technology developer Cardiosense last winter raised $15 million in Series A capital.
- Moving Analytics, an Irvine, Calif.-based cardiovascular prevention telehealth provider, raised $20 million in Series A in Series A funding in July 2022.
- Recora, a New York-based virtual cardiac recovery company, announced a $20 million funding round in March 2022.
Other developments in the home-based cardiac space include:
- NorthShore – Edward-Elmhurst Health and Motiv announced an in-home virtual cardiac recovery program in June.
- NorthShore University HealthSystem and Edward-Elmhurst Health merged last year to create Illinois' third-largest health system.
- Story Health, a Cupertino, Calif.-based company developing virtual AI-enabled cardiac care and Pearl Health, a New York-based care-delivery and billing platform, partnered in June to provide specialty cardiac care to Medicare beneficiaries. Story Health raised $22.6 million in Series A funding last year.
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