TYTO CARE RAISES $25 MILLION IN FUNDING TO SUPPORT GLOBAL TELEHEALTH EXPANSION:
TytoCare, an Israeli telehealth startup known for its range of telehealth products for remote medical examinations, closed its series B funding round with $25 million led by Ping An Insurance, according to MobiHealthNews.
Returning investors include Walgreens, Cambia Health Solutions, and LionBird. The company plans to use the funding to support its continued rollout of telehealth solutions in the US, as well as expansion into European and Asian markets – Ping An Insurance and Tyto Care will enter into a strategic partnership that will help Tyto Care launch its services in China, as part of the deal. The telehealth market – an umbrella term that encompasses video- and voice-telemedicine, remote patient monitoring, and health apps – is expanding rapidly as healthcare systems continue to seek new ways to improve the availability of healthcare. In the US, for example, 75% of health organizations either already are, or are planning to provide telehealth services in 2018, according to Vidyo.
Click here to read the full article.