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Digital Health Companies Raised $1.4 Billion in 2012: Interview with Rock Health CEO Halle Tecco

January 8th, 2013 Shiv Gaglani Exclusive, News

Rock Health just released their year-in-review funding report for the digital health industry. Spoiler alert: it’s a good space to be in. Whether you are an entrepreneur, an investor, or simply a curious reader who wants to be informed about what all the buzz is about, we recommend taking a few minutes to skim through their 16-slide deck on Slideshare: 2012 Digital Health Funding Year in Review. Some of the key findings that they thought deserved highlighting are:

  • VC funding of digital health grew significantly in 2012, with 45% more investment and 56% more deals than in 2011
    • For comparison, VC funding of biotech is down 4% and medical devices is down 16%; software is up 19%
  • 134 digital health companies each raised more than $2 million dollars in 2012
  • Only 8 investors made 3 or more digital health investments, the remaining 171 identified investors made just 1-2 investments
  • Digital health companies based in the Bay Area and Boston area represent more than 40% of all 2012 funding

We asked Rock Health’s CEO, Halle Tecco, a few questions about her take on the report:

Shiv Gaglani, Medgadget: What surprised you most about the state of digital health funding in 2012?

Halle Tecco: The growth in terms of dollars flowing into the space, and diversity of companies funded.  Startups are going after big problems in healthcare.

 

Medgadget: Do you have any predictions on how 2013 will compare?

Tecco: We anticipate another year of growth in terms of investment, and hope to see some nice exits too.

 

Medgadget: 80 percent of the digital health backers each only invested in one company. Do you think this indicates a general cautiousness among investors?

Tecco: Just the opposite — we think this illustrates the broad interest from investors across the spectrum of healthcare and technology.  More people than ever have their eye on this space.

 

Medgadget: How does the general employee gender split compare to that of the CEOs? Why do you think there are so few female CEOs in this space?

Tecco: We didn’t do analysis on employee gender breakdown. There is a need to mentor and recruit female executives across all industries, which is why we support the XX in Health initiative (see more here: rockhealth.com/xx).

Link: 2012 Digital Health Funding Year in Review…

Shiv Gaglani

Shiv Gaglani is an MD/MBA candidate at the Johns Hopkins School of Medicine and Harvard Business School. In addition to curating the Smartphone Physical (www.smartphonephysical.org), he also contributes regularly to CardioSource World News and Emergency Physicians Monthly. He is interested in developing scalable, tech-based solutions for medicine and education; to this end he is the co-founder of the medical education tech start-up, Osmosis (www.osmosis.org).  More about Shiv: http://about.me/sgaglani

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