TEL AVIV, Israel, Feb. 5, 2019 /PRNewswire/ -- Healthy.io, pioneer of the "medical selfie," has raised $18 million in series B funding. The funding will help scale the company's home testing service based on its FDA-cleared smartphone urinalysis test-kit, aimed at sparing millions from the enormous burden of kidney disease complications while cutting costs for the overstrained medical system.
One in three American adults are at risk of kidney disease, with 100,000 developing kidney failure every year. The disease not only takes a terrible toll on patients' quality of life, it also costs Medicare a staggering $114 billion every year. Early detection makes an enormous difference in avoiding complications from kidney disease, which is why those at risk should have their urine tested for protein at least once a year. But the current inefficient testing process means only 6% of people with hypertension and 39% of diabetes patients undergo proper testing for kidney disease, in spite of medical guidelines.
Healthy.io's kidney testing service has been assessed with Geisinger Health in conjunction with the US National Kidney Foundation, achieving a 71% adherence rate amongst patients with hypertension who have never been tested before. This improvement has the potential to help millions of at-risk patients – as demonstrated in the UK, where the service was rolled out in conjunction with the National Health Service. 10% of patients who took the test there tested positive for elevated levels of protein, indicating a previously unknown kidney disease. Identifying unknown kidney disease in patients creates an opportunity to reduce the elevated risk of complications, with significant cost savings potential.
With the ease of its "medical selfie," Healthy.io is transforming kidney disease prevention. Its unique "smartphone urinalysis" provides an end-to-end service in which testing can be conducted at home by using a smartphone camera to scan a dipstick. Results are sent directly to doctors and integrated with existing medical records. Healthy.io's digital urinalysis pathway is already being used by over 100,000 patients via strategic partnerships throughout Europe and Israel.
"We are reinventing existing paradigms of prevention," said Healthy.io Founder and CEO Yonatan Adiri. "Instead of spending money and other resources to get people to come to the lab, we offer providers a full home-based service. With our 'pay per protein' model, we only get paid based on tangible cost improvements we deliver by detecting elevated protein in urine – which identifies previously undetected Chronic Kidney Disease."
"We know that most patients with kidney disease and protein in their urine are untested and therefore go undiagnosed," said Dr. Joe Coresh, Professor of Epidemiology, Medicine and Biostatistics at Johns Hopkins University, who participated in the development of international kidney disease guidelines and who heads the company's clinical advisory board. "Healthy.io's user-friendly smartphone technology – directly connecting patients at home with the medical system – is a gamechanger addressing a big need. Healthy.io has demonstrated that it can deliver real improvements in line with best clinical practices and high patient satisfaction."
The funding round was led by Aleph, with significant contributions from Samsung NEXT and private investors. The funds will be used to scale operations in the US and to continue the service's rollout in the UK, driving the adoption of home-based kidney testing as a new global standard of care.
"We are thrilled to partner with Yonatan and the Healthy.io team," said Michael Eisenberg, Partner at Aleph. "We are inspired by the company's mission to prevent kidney disease complications, improve ease and quality of care, and ultimately, save lives. We believe that Healthy.io will dramatically reduce the cost of healthcare while increasing quality disease prevention."
The funding round follows a number of significant milestones for Healthy.io over the past year, including FDA clearance, a global partnership with international market leader Siemens Healthineers and the launch of a consumer-focused UTI testing service in partnership with Boots UK, a subsidiary of Walgreens Boots Alliance.
Idan Ofer, who supported the company from its early days, congratulated the new shareholders: "This is one of my most valuable investments – a technological solution that will improve quality of life for millions as healthcare becomes more digital. Yonatan and his team inspire me."
Healthy.io is the creator of the category of smartphone urinalysis, offering the only FDA and CE cleared home urine test equivalent to lab-based devices. Its pioneering technology is shifting clinical grade urinalysis from the lab to the home: Same test, any location, without compromise in quality. Ushering in a new era of the "medical selfie," Healthy.io is continuously innovating the use of the smartphone camera in the service of patients and healthcare providers worldwide. The company is partnering with leading healthcare organizations across the globe, including alliances with Siemens Healthineers – the market leader in urinalysis – the National Health Service in the UK, the US National Kidney Foundation, Geisinger Health and Israel's leading HMOs Clalit, Maccabi and Meuhedet, making home urine testing a reality for patients worldwide.
Founder and CEO Yonatan Adiri is a World Economic Forum "Global Young Leader," and at the age of 26, was appointed the first Chief Technology Officer to an Israeli President, Shimon Peres. He was also named one of Time Magazine's 2018 50 Most Influential People in Healthcare. Healthy.io is an NHS Innovation Accelerator company, and a World Economic Forum Technology Pioneer.