Following 300% development in 2020, digital diabetes care firm Podimetrics lands one other $8M

Following 300% growth in 2020, virtual diabetes care company Podimetrics lands another $8M

Somerville, Massachusetts-based digital diabetes care firm Podimetrics has added one more $eight million to its Collection B-2 funding, bringing the spherical’s closing complete to $24.6 million, the startup advised MobiHealthNews. Polaris Companions, Rock Well being, Norwich Ventures and Scientific Well being Growth, all of which had beforehand backed the corporate, contributed.

Moreover, Podimetrics introduced three new additions to its advisory board: Dr. Foluso Fakorede, an endovascular specialist and CEO of Cardiovascular Options of Central Mississippi; Doug Ghertner, CEO of biologic injection firm IVX Well being and former CEO of Change Healthcare; and David Joyner, the previous EVP of gross sales and advertising at CVS Well being.

WHAT IT DOES

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Podimetrics makes a related platform for diabetic foot-ulcer detection, consisting of a cellular-connected SmartMat to be used within the dwelling and a corresponding clinician-facing dashboard. 

Sufferers stand on the SmartMat for 20 seconds every day, throughout which period the system collects foot-temperature scans and transmits the outcomes to the corporate’s care staff. If crucial, the system alerts clinicians in order that preventive motion could be taken.

Of explicit notice is the corporate’s longstanding partnership with the Division of Veterans Affairs, which serves a affected person inhabitants extremely affected by diabetic foot ulcers. Dr. Jon Bloom, CEO and cofounder of Podimetrics, advised MobiHealthNews that his firm’s gadgets are presently accessible by way of 40 VA medical facilities, and that the corporate’s broader enterprise has seen a serious spike with the brand new yr.

“We’ve seen a 300% development within the first half of 2020 in comparison with final yr – that’s large,” he advised MobiHealthNews in an electronic mail assertion. “The sufferers we work with are typically very excessive danger for COVID-19 problems, and we’ve been centered on serving to these susceptible sufferers get the vital monitoring companies they want at dwelling, finally decreasing their danger of virus publicity and preserving well being care sources to not overburden the system.” 

WHAT IT’S FOR

A lot as earlier than, Bloom mentioned that the corporate’s new funds will help Podimetrics’ development whereas accelerating its work with the VA and different nationwide business payers.

MARKET SNAPSHOT

Podimetrics’ diabetic foot-ulcer detection tech is met by firms like Orpyx Medical Applied sciences’ in-shoe sensors and Siren’s sensible textiles. The previous of those discovered its know-how on the coronary heart of Onduo’s related diabetes administration platform due to a deal introduced on the tail-end of 2018.

Up to now, scale-like sensors extra carefully resembling Podimetrics’ method had been proven off by Seattle-based Wellpepper and Galway-based Bluedrop Medical.

ON THE RECORD

“Regardless of being largely preventable, diabetic amputations are an incredible downside on this nation, particularly within the African-American group the place sufferers are 3 times extra prone to lose a limb,” new advisory board member Fakorede mentioned in an announcement. “Podimetrics is on the frontlines of curbing this epidemic, and I’m excited to work with them to assist convey their preventive answer to extra sufferers in want.”



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