What You Should Know:
- Healthy.io, the global leader in transforming the smartphone camera into a clinical-grade device, raises $50M in a Series D funding round led by Schusterman Family Investments and is joined by Aleph and other existing shareholders. This investment, together with a previously unannounced $45 million February 2022 investment, comprises the company’s Series D.
- The Series D round will support Healthy.io’s expansion across the U.S. market, where Minuteful Kidney™, the company’s clinical-grade kidney test and patient engagement service, has met increased demand from leading health plans, health systems, and kidney care management groups.
Empowering At-Risk Members for Chronic Kidney Disease
As rates of diabetes and hypertension continue to rise across the United States, more Americans are at risk for chronic kidney disease (CKD) but are otherwise untested and unmanaged. CKD is a leading cause of death in the country. Known as a “silent killer,” 90% of the 37 million Americans who have the disease – which disproportionately impacts underserved communities – don’t know they have it and often progress to late-stage CKD or dialysis treatments. Barriers such as a lack of awareness and transportation challenges prevent at-risk Americans from completing recommended testing, a urine albumin-creatinine ratio (uACR) test, that can detect kidney damage. 75 million Americans are recommended to complete uACR testing, yet 80% do not.
The company’s at-home urinalysis services enable providers and healthcare systems to reach high-risk, previously untested members and help close care gaps. Healthy.io partners with leading health insurers and providers to integrate Minuteful Kidney™ in their kidney management programs. Minuteful Kidney™ is marketed commercially across the United States and the United Kingdom and is the first and only FDA-cleared, smartphone-powered, at-home kidney test that allows patients to take the test in the privacy of their homes and receive immediate clinical-grade results. The service removes the barriers associated with traditional lab testing and averts the road to dialysis.
High Adherence Rates
In tests of over 250,000 patients in the U.S. and the U.K., the solution has demonstrated unprecedentedly high adherence rates of up to 50% among previously untested populations. Promoting early diagnosis of CKD can also drastically reduce the skyrocketing costs associated with CKD, which currently costs Medicare $124B a year.