American Well raised $291 million dollars in Q2 2018, the largest digital health (Health IT) venture capital deal in the second quarter of 2018. They have so far raised about $315 million, including $59 million from the digital investment division of the insurer Allianz Group. Here is what you should know about this fast rising company:
They are probably one of the best funded companies in Digital Health today
Recent partnership with Philips to deliver virtual care around the world
Partner with Apple and Stanford on the Heart-Health study
They compete with Teladoc (public company) and Doctor on Demand (venture backed)
American Well is a physician led company that offers solutions for a wide range of customers, ranging from health systems, to government, employers and payers. They even support individual physicians who want to join their Online Care Group, or setup their own private practice on their Amwell healthcare market place for patients. They offer a number of clinical programs related to behavioral health, nutrition, breastfeeding support that they deliver to patients directly, or supplement existing provider capabilities. Although telemedicine has trickled down to the number 2 spot in top VC funded digital health categories by amount of funds raised in the first half of 2018, it is still a hot market that folks are betting on. It will be interesting to see what their next move will be.