Connect with us

News

US virtual care clinic bags US$25m from Google Ventures

Midi Health aims to use the new capital to expand operations nationwide

Published

on

Dr Mindy Goldman (chief clinical officer, Midi Health), Cindy Gentry, Sharon Meers (co-founder, Midi Health), Dr Kathleen Jordan (chief medical officer, Midi Health), Frédérique Dame (general partner, GV), Joanna Strober (co-founder and CEO, Midi Health), Cathy Friedman (executive venture partner, GV)

The virtual care clinic Midi Health has raised US$25m in funding to expand access to expert midlife care for women in the US.

Midi Health aims to help women navigate the midlife hormonal transition with virtual care guided by physicians and researchers who oversee a network of nurse practitioners trained in women’s health.

The company will use the new capital to expand operations nationwide and to launch additional partnerships with hospital systems and major employers in the US.

Investors Frederique Dame and Cathy Friedman from GV are joined by current investors Felicis, Semper Virens, Icon, 25M and Operator Collective, bringing the company’s total funding raised to date to US$40m. 

Frederique Dame, General Partner at GV, said: “Midi has seen meaningful traction since its launch and takes an innovative approach to address an unmet need for nearly half the global population.

“Midi’s world-class executive and advisory team has decades of clinical and healthcare expertise and a vision for personalised, affordable, and accessible midlife care. GV is proud to back Midi as they modernise perimenopause and menopause care for women everywhere.”

Underdiagnosed, undertreated, and underserved

Every day in the US 6,000 women hit menopause, which is defined as starting 12 months after a woman’s last period.

On average, they reach menopause at 51, but perimenopause can occur much earlier. This lead-up period, when hormones can fluctuate wildly and symptoms may be at their worst and most unpredictable, lasts four to seven years, although in some cases it can extend as long as a decade.

Symptoms, which may include hot flashes, insomnia, anxiety, depression, brain fog, memory loss and genitourinary problems, have a significant impact on women’s quality of life and career growth.

A recent Mayo Clinic study found that 15 per cent of women cut back on hours or missed work entirely due to their symptoms, costing them about US$1.8bn a year in lost wages.

“It’s clear that menopausal symptoms can derail women’s lives,” said Joanna Strober, Midi Health founder and CEO.

“With far too few practitioners trained in managing menopause, women are underdiagnosed, undertreated, and underserved.

“Midi provides an insurance-covered solution that focuses on women’s unique needs, closing a major gap in health access, quality, and equity.”

To address that gap, Midi Health says it aims to expand its team of clinicians trained in women’s health, with every patient receiving a personalised care plan based on their health history, genetic risk factors, ethnicity, and race.

“Many practitioners lack the training to manage menopausal symptoms and specialists have nine to 12-month waiting lists,” Strober explained. 

“We provide access to some the most skilled professionals in female health.”

The company has announced a partnership with fertility benefits leader Progyny. Current employer clients include Stanford University and ServiceNow, and agreements are in place with healthcare systems clients such as Lifepoint Health.

News

Singapore-based fertility centre sets up grant for couples struggling to conceive

This grant aims to support eligible Singaporean couples facing financial and family planning challenges

Published

on

A Singapore-based fertility centre is to set up a grant to support couples struggling to conceive.

Virtus Fertility Centre Singapore (VFCS) announced that it would set up a grant to support aspiring parents on their IVF journey.

The initial grant is set for at $50,000 SGD and, depending on the take-up rate over the next 12 fiscal months, VFCS plans to increase the pool to benefit more couples in the subsequent years.

The grant will cover the main costs associated with IVF treatments and procedures, including embryo retrieval and transfer, laboratory services and embryo prep. It will also be applicable to fresh and frozen egg transfers.

As grant recipients, their samples will similarly be given a radio frequency identification (RFID) tag, a service VFCS provides for all its patients. It locks the patient’s identity with the respective sample. The RFID identifies gametes—eggs, sperms, or embryos—at every stage of the IVF treatment.

According to VFCS, the grant will also include access to counselling services and wellness resources.

“I’ve witnessed firsthand the emotional toll and occasional frustration that infertility can take on individuals and couples, especially for some who are still young and healthy,” said Dr Roland Chieng, medical director at VFCS.

“The common deterrent of going for fertility treatment is always associated with the cost, more so in a private care setting where their only source of funds is through Medisave.

“By alleviating their financial concerns, we hope ReadyBaby Fertility Grant empowers patients to approach their IVF journey, focusing on their clinical needs and working towards a healthy pregnancy and less on financials.

“With access to the necessary treatments and support, patients can embark on their path to parenthood with renewed confidence, knowing they have the clinical resources and guidance they need to navigate this journey,” he added.

Tim Kwan, VFCS’s managing director, said: “We believe every couple deserves the opportunity to experience the profound joy of parenthood.

“With the ReadyBaby Fertility Grant, we aim to support aspiring couples on their IVF journey and help them bring new life into the world.”

To be eligible for the grant, applicants must be married Singaporean couples diagnosed with medical infertility by a fertility specialist and first-time parents who have not tried IVF before.

To receive the Femtech World newsletter, sign up here.

Continue Reading

News

Canadian insurer launches partnership to support women’s health

Members of the Canadian insurer Medavie Blue Cross will have access to a dedicated women’s health platform

Published

on

Angela Johnson, co-founder and CEO of sanoLiving

The Canadian insurer Medavie Blue Cross (MBC) has partnered with the virtual health platform sanoLiving to support women on their menopause journey.

Currently, more than 10 million Canadian women are navigating menopause, often with little support and misinformation about treatments.

With sanoMidLife, sanoLiving’s online menopause platform, Medavie Blue Cross members will have access to a national women’s health platform tailored to provide care and services for women going through the menopause.

The service includes personalised assessments, access to clinicians, treatments, educational content, peer support and AI assistance.

“Many women lack support for their menopause transition due to the misunderstandings of what is ‘normal’ and misinformation about treatments,” said Angela Johnson, co-founder and CEO of sanoLiving.

“Women are seeking solutions that allow them to thrive during midlife. We are thrilled about our alliance with Medavie Blue Cross, and our shared commitment to providing access to care that empowers women.”

Anita Swamy, senior vice president operations at Medavie Blue Cross, added: “We’ve heard first-hand from our members about the need for more menopause-related services.

“Our partnership with sanoLiving creates an innovative way to increase access to care for our members as we continue to focus on the support women need to navigate their benefits and provide forward-thinking options to support their health.”

Studies report one in 10 women exit the workforce due to unmanaged symptoms. Early onset of menopause and symptoms before age 45 can elevate the risk of health issues like heart disease, diabetes, dementia and osteoporosis.

With this new service, Medavie Blue Cross and sanoLiving are aiming to open up the conversation around menopause, reduce stigma and work towards giving women the access to the care they need.

To receive the Femtech World newsletter, sign up here.

Continue Reading

News

US start-up raises US$2.32m to address pelvic health concerns

The Flyte intravaginal device aims to treat stress urinary incontinence and strengthen pelvic floor muscles

Published

on

The US women’s health start-up Pelvital has raised US$2.32m in funding to address “unanswered” pelvic health issues.

Minnesota-based Pelvital aims to restore pelvic health with its first product Flyte, an FDA-cleared intravaginal treatment for stress urinary incontinence (SUI) and weakened pelvic floor muscles.

The device, originally developed by physicians from the Arctic University of Norway, uses mechanotherapy, a treatment modality that when paired with an active pelvic floor contraction stimulates tissue regeneration and the creation of neuromuscular memory.

The company will use the funding to speed up the commercialisation of Flyte and raise awareness of pelvic health issues.

“Completing this round is an important step in continuing Pelvital’s unwavering dedication to provide women with innovative solutions for pelvic health, including the treatment of SUI,” said Lydia Zeller, president and CEO of Pelvital.

“This funding will play a crucial role in accelerating our commercialisation of Flyte with a strong emphasis on expanding payor coverage and enhancing clinical education and clinician awareness.”

With this final close, Zeller said, Pelvital would welcome new investors including Pier 70 Ventures, Life Science Angels, Tech Coast Angels Orange County, and Blue Pacific Fund.

Preetha Ram, managing partner at Pier 70 Ventures, would join the Pelvital board of directors.

“Joining Pelvital’s board alongside this investment round is truly an honour,” Ram shared.

“Pier 70 and I are thrilled to be part of this transformational opportunity, as Pelvital’s mission aligns beautifully with our dedication to support disruptive technologies that shake up the status quo in healthcare.

“Pelvital’s pioneering work is shaping a future where women’s health receives the attention and innovation it deserves with novel medical devices like Flyte.”

Oscar Moralez, founder and managing partner of Boomerang Ventures who led the investment round, said: “We are thrilled for the successful completion of this round as we aim to tackle the most pressing healthcare challenges.

“Our participation aims to address the chronic underfunding in women’s healthcare. Investing in Flyte, a truly groundbreaking treatment, addresses underserved pelvic health issues like SUI and contributes to raising vital awareness.”

Two published clinical trials have validated Flyte’s safety, efficacy and durability of treatment effect for women with SUI.

Most recently Pelvital published a paper in Therapeutic Advances in Urology, showing that 71 per cent of study participants achieved dry or near dry conditions as evidenced by a reduction in 24-hour pad weight after using Flyte for between two and 12 weeks.

To receive the Femtech World newsletter, sign up here.

Continue Reading

Trending

Copyright © 2023 Aspect Publishing Ltd. All Rights Reserved.