![]() Giant Leap (Seer Medical, Perx, Mindset Health, Driven, Loop+, Like Family, Coviu).Archangel (Atelier, Bare, Bodyguide, CoTreat, Heidi, Lasertrade, Preventure, Quickclaim, Vively).Most Australian VCs have made local investments in healthtech including: There are also five Australian healthtech businesses that are believed to be valued at over $100M: HealthEngine, HotDoc, Eucalyptus, Harrison.ai and Seer Medical. ![]() CSL, Cochlear, Sonic Healthcare, Fisher & Paykel, Ramsay Health and ResMed are each valued at $10B+. In Australia there are over 16 listed healthcare companies with market capitalisations over $1B. Australian HealthTech market and investment The largest eight (Samumed, Caris Life Sciences, GuaHao, Hinge Health, Cityblock Health, United Imaging Group, Outcome Health, Ro) are all based in the US and China and are believed to have US$5B+ valuations (Sources: HolonIQ, CB Insights). There are now 80+ privately held health technology unicorns globally. Companies can be further classified based on which branch of medicine they service, which disease they treat, or whether they provide alternative care, focus on wellness and education, enable clinical trials or assist with the navigation of the healthcare system. One of the most important ones is whether the company provides a health service (ie bills a patient and employs health practitioners) or assists a health provider to do their job (ie more a tool that is used in the provision or administration of healthcare). This distinction is not clear cut and there are many blurred lines for example as artificial intelligence increasingly plays a part in drug discovery.Īs well as the healthtech vs biotech distinction there are many other ways to classify health related companies. It draws a distinction between life sciences and biotechnology investment, which are more focused on drug discovery, novel compounds and new treatments, from the broader category of healthtech which includes medical devices but also subscription based businesses and software based systems and tools. The graphs below from show the significant activity in the sector over time. ![]() Sources: Dealroom, Techcrunch, SVB, CB Insights. Australia currently doesn’t rank in the top 10 healthtech markets. US$10B+ was invested in Asia and $US7B+ in Europe, the other major VC healthcare markets. VCs invested US$57B+ in healthcare in the US in 2021 (up 79% YoY), creating dozens of new unicorns to bring the count in the space close to 100. Global Venture Capital investment in Healthcare I am lucky enough to spend most of my days interacting with entrepreneurs who share this vision for a better future and have concrete plans to change the status quo. It has also given me hope for a better future where scarce resources are deployed to greater effect, practitioners can focus more on care and less on administration, less mistakes are made, and patients are more informed and happier. Those experences have taught me a lot of lessons from attempts to introduce digital technology to the healthcare market. The health market has always been a passion of mine and I’ve had a broad range of experience: from helping set up medical businesses, to assisting with marketing, due diligence and acquisitions in healthcare, to developing digital health strategy, looking at hundreds of healthcare investment opportunities, making 20+ healthcare related investments, and sitting on healthcare company boards. Currently ~5% of health spending is on digital health according to McKinsey. Healthcare is one of the biggest consumer categories, and with an ageing population, and a complex interdependent system, there is ample opportunity for digital transformation of healthcare. During our lifetime we might experience an injury or have an accident, deal with a chronic condition, require tests or vaccinations, seek to improve our general wellbeing (weight, mood or energy), our appearance or even extend our longevity. Health is a key concern for all of us and approximately US$10T is spent on healthcare worldwide each year.
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