DEARhealth Secures $6.8M Series A Led by Philips to Expand AI-Powered Chronic Care Platform

On July 17, 2019, VCBeat (WeChat ID: vcbeat) learned that U.S. AI healthcare company DEARhealth announced the completion of a $6.8 million Series A financing round to expand its artificial intelligence platform for chronic disease management and to establish its European headquarters in Amsterdam, the Netherlands, thereby expanding its business presence in Europe.

This round of financing was led by Philips Health Technology Ventures, Vesalius Biocapital, and Health Innovations. Prior to the completion of this funding round, DEARhealth announced a collaboration with pharmaceutical giant UCB to jointly advance treatments in the field of epilepsy.

DEARhealth, founded in 2013 and headquartered in Beverly Hills, California, is the health IT division of the University of California, Los Angeles (UCLA). DEARhealth focuses on providing healthcare solutions for patients and health insurance companies. Its treatment programs not only improve the health of patients with chronic diseases but also reduce patient care costs.

DEARhealth leverages an AI-powered platform to assist clinicians in developing care plans for patients. The platform integrates with Electronic Medical Record (EMR) systems, accurately identifies patients with different disease types for targeted care, and enables patient engagement through the EMR-integrated application layer. DEARhealth combines the expertise of medical specialists, nurses, scientists, and big data analytics to continuously optimize care protocols for costly and complex conditions.

Image source: DEARhealth official website

Over time, DEARhealth’s AI technology platform will advance into deep learning, reducing treatment risks for patients with chronic diseases and making care plans increasingly personalized and precise. Meanwhile, DEARhealth will enhance its AI platform’s learning capabilities, improve technological outcomes, and optimize cost control.

Although DEARhealth’s initial R&D focus was on inflammatory bowel disease (IBD), it has since expanded into multiple chronic disease areas, including liver disease, ovarian cancer, and chronic kidney disease. Following its collaboration with UCB, DEARhealth piloted its AI technology in the field of epilepsy care, leveraging its AI capabilities to develop personalized treatment plans for patients with epilepsy.

“We believe DEARhealth is an ideal choice for our venture capital investments,” said Rich Wilmot, Head of Philips Health Technology Ventures, in a statement. “DEARhealth holds significant potential in chronic disease care and can deliver better treatment options for patients.”

Philips Health Technology Ventures was established in 1998 and is headquartered in Amsterdam, the Netherlands. Philips Health Technology Ventures is the corporate venture capital arm of Philips Electronics. The company is dedicated to investing in early-stage businesses in the technology sector.

Vesalius Biocapital III is affiliated with Vesalius Biocapital Partners. The fund commenced fundraising in May 2017 and held its final close in May 2019. Vesalius Biocapital III focuses on investing in European life sciences companies engaged in drug development, medical technology, diagnostics, and digital health.

Health Innovations, founded in 2007 and headquartered in Utrecht, the Netherlands, is dedicated to investing in start-ups. The firm focuses on innovative care concepts, e-health, medical technology, digital health, and health services.

(Compiled by Cheng Tao)