Accessibility and affordability of basic telemedicine tools are on the rise with the outbreak of COVID-19.! Telemedicine was initially developed as a way to discuss non-emergency medical issues or treat patients or who were located far away from local health facilities through phone or online.
This convenient technique that enables patients to access physicians across the country and receive medical opinions without stepping out has led to the rise of telemedicine companies. In this regard, Tyto Care is one of the names which is making waves in the industry.
Raises €46M funding!
The New York-headquartered telehealth startup with Israeli roots has launched healthcare industry’s first all-in-one modular device and a telehealth platform and now has raised $50 million (approx €46 million) in an oversubscribed round co-led by Insight Partners, Olive Tree Ventures, and Qualcomm Ventures LLC, bringing the company’s total funding to over $105 million (approx €96.2 million).
Dedi Gilad, Co-Founder, and CEO of Tyto Care said:
This new funding comes at a pivotal moment in the evolution of telehealth and will enable us to continue to transform the global healthcare industry with the best virtual care solutions. We look forward to further expanding the reach of telehealth and introducing new solutions as demand for remote care continues to soar.
Plans for Europe, the US, and Asia!
With this funding, the company plans to expand commercialisation throughout the US, Asia, and Europe as well as to introduce new advanced product capabilities, including AI and machine learning-based home diagnostics solutions and other technologies.
According to the company claims, the New York-headquartered telehealth company experienced double-digit telehealth utilisation, over 10 times higher than standard virtual care programs, which see less than 5% utilization on average.
In the wake of COVID-19, hospitals, and health organizations around the world are further expanding their use of Tyto Care’s telehealth solution to examine quarantined patients in hospitals and isolated patients remotely at home.
Enables remote medical examinations!
Founded by Dedi Gilad, and Ofer Tzadik in 2012, Tyto Care’s solution enables remote medical exams of the lungs, heart, throat, and ears, among other exams and vitals, allowing healthcare organizations to protect providers and avoid exposure during the COVID-19 pandemic. It also enables families and the general population to receive care without entering medical facilities, preventing the spread of the virus, and significantly reducing the increased burden on already overworked health organizations.
Threefold growth in 2019!
Tyto Care witnessed threefold growth in 2019 and is working with hundreds of hospitals and over 100 health organizations, including health systems, payers, and strategic partners, primarily in North America, Europe, and Israel.
Dedi Gilad adds,:
Over the past two years, Tyto Care has increased momentum faster than ever before and is playing a leading role in changing how people receive healthcare. Telehealth is heeding the call of the COVID-19 pandemic, and we are proud that our unique solution is aiding health systems and consumers around the world in the fight against the virus.
Main image credits: Tyto Care
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