S&P 500: New year, new member

In with the new

Hi there,

Hope you had a great holiday! It’s a whole new year. Did you stay up to watch the fireworks? Have any good resolutions to share?

A new year means all kinds of new healthcare stuff is coming. But don’t worry. No matter what happens, we’ve got you covered.

By the time you read this, GE HealthCare will be the newest member of the S&P 500. Just last month, Congress approved the omnibus spending bill with $1.8B allocated to the Department of Veterans Affairs to restart the roll out of Oracle Cerner EHR systems. And in other news, 2022 saw companies like Teladoc and CVS hire “chief health equity officers” – signaling a growing interest in the topic that will continue well into 2023.

Whether it’s GE HealthCare’s competitors, technologies driving health equity, or Oracle’s healthcare play, all the research you need is waiting for you.

General Medtronics

GE HealthCare, the spinoff of GE's healthcare biz, is the newest giant in healthcare devices. 

But it faces stiff competition from companies like Medtronic — now the leading medical device manufacturer in the world by revenue.

Medtronic is investing in robotics, surgical intelligence, and new therapeutic delivery systems that could cause radical shifts in the process and practice of healthcare. 

We mined its acquisitions, investments, and partnerships to uncover 5 vital strategic priorities this leader in health tech innovation — and a top competitor of GE HealthCare — is focusing on.

Learn something new, and dig in here.

All things being equal

While startups are finding new ways to identify needs and bring services to underserved communities, issues of equity in healthcare technology are getting increasing attention. For example, a new lawsuit is targeting racial and skin tone bias in the oximetry features of the Apple Watch. Meanwhile, the Coalition for Health AI recently published a blueprint for addressing algorithmic bias and transparency issues in AI implementation – the kind of algorithms that can improve stroke outcomes by 300% when used correctly.

If you’re a healthcare executive, an investor, a patient, or anyone else who needs to know the tech out there helping with these issues (hot tip: everyone needs to know this stuff), there’s a lot out there to learn. 

We’ve looked at the market outlook and investment trends for social determinants of health solutions and community support tools. We dug into how AI, engagement tech, and new apps are transforming how women access healthcare. Now we’re breaking down how data exchange can enable health equity.

Check out our analysis here.

What’s next for Oracle?

After new deployments of the VA Oracle Cerner EHR were suspended last year, the new US omnibus spending bill has $1.8B to restart rollouts in new facilities. It’s a major win for a huge and troubled project and has big implications for Oracle’s future in healthcare. 

Oracle Cerner isn’t slowing down, so it’s a good thing we added it to our Big Tech in Healthcare coverage. The Cerner acquisition has been a major boost to Oracle’s cloud business, helping make it one of the fastest growing cloud providers last year. A similar effect on its CRM and ERP products could be just around the corner.

Learn more when you read the Big Tech in Healthcare Report here.

Stay healthy,

Alex Lennox-Miller

The CB Insights Book of Market Maps 

The hospital of the future. Home health. Value-based care. Our Book of Market Maps shines a light on 120+ technology markets changing financial services, healthcare, retail, industrials, and more. Read it for free here.
 

The CB Insights Book of Strategy Maps

Johnson & Johnson going digital. Optum expanding its reach. CVS’s hold over healthcare. Our Book of Strategy Maps goes deep into the strategies — and some of the most unexpected partnerships — behind 40+ of the world’s most important companies. Read it for free here.

What are Cigna and Elevance Health doing in digital therapeutics?

As payers look for innovative ways to improve care at a lower cost, Cigna and Elevance Health (formerly Anthem) are exploring opportunities in digital therapeutics. Read it here.

Market Trend Report: VR therapeutics for medical device leaders

We outline the market outlook for VR therapeutics in the medical device industry — from investment trends to recent deals to recommendations for the players in the space. Read it here.

What healthcare leaders need to know about virtual assistants

We outline the market outlook for virtual assistants in the healthcare industry — from investment trends to recent deals to recommendations for the players in the space. Read it here.

NEWS
 

Health agencies’ mounting agenda. US health agencies have an ever-increasing list of priority items to address in 2023, from addressing the pandemic response to FDA regulatory reforms, and the potential for a Medicaid coverage cliff. 

STAT
 

Google introduces healthcare ChatBot. With OpenAI’s Chat GPT garnering tremendous attention in the technology community, Google has launched its own chatbot, MultiMedQA, that exclusively addresses medical queries. It combines a new  dataset, HealthSearchQA, that consists of over 3,000 frequently asked questions by healthcare consumers with existing clinical datasets to address inquiries from medical and non-medical professionals.   

Analytics India Magazine

Deep sleep earphones. Continuing its movement into the healthcare sector, LG Electronics has developed wireless headphones called Breeze that use brainwave technology to help people sleep better. The technology also has the ability to analyze real-time sleep data and recommend changes to sleep schedules. 

MobiHealthNews

DEALS
 

Radiology tech raise. PVmed, an AI-based medical image analysis platform, recently raised $15M in Series A funding. The company will use the funds to further develop its AI cancer treatment products, as well as to support adoption of its radiology workflow software and hardware products.
 

Carallel universe. Carallel, a caregiver support tool company, raised $8.2M in Series A funding led by FCA Venture Partners. The company will use the capital to partner with more Medicare Advantage members and commercial insurers, while also developing its digital tools.

Docs on demand. Singapore-based telehealth company Doctor Anywhere acquired multispecialty medical group Asian Healthcare Specialists and raised an additional $38M in a Series C extension round led by Novo Holdings. The acquisition is part of Doctor Anywhere’s plan to meet rising demand for specialty care across Southeast Asia.

PERSPECTIVES
 

Shopping for healthcare. Healthcare is continuing its movement toward a more consumer-friendly, “shoppable” approach to medical needs. To continue this evolution, technology will need to play a pivotal role in spearheading the transition to a care model that can be delivered in a personalized and in an on-demand nature.

4sightHealth
 

Next gen hospice care. Among the changes we could potentially see in hospice care over the next few years are an integration of the systems used during hospice care into provider and payer workflows and an emphasis on enhanced care coordination. These efforts will look to support improved, personalized care as well as reduce spending.

Hospice News