Healthcare in Australia is primarily funded by the public Medicare program and delivered by highly regulated public and private health care providers. It provides a wide range of services, from population health and prevention through to general practice and community health, hospital care, rehabilitation and palliative care. Australia has made deliberate efforts in recent years to nurture its HealthCare startup ecosystem that has seen immense growth. So let’s look at the top 10 healthcare startups in Australia:
1- Botanix Pharmaceuticals
Founders: Glen Travers and Roger New
Founding year: 2015
Headquarter: Perth, Western Australia, Australia
Funding received: USD 55 Million
Investors: Post – IPO Equity
About the company: Botanic Pharmaceutical is a pharmaceutical company that focuses on the treatment of skin diseases. Its main aim is to improve the lives of patients battling acne, psoriasis and atopic dermatitis by providing new treatment choices for conditions that are currently inadequately addressed. They also deal with various specialties like medical dermatology,acne treatment, research and antimicrobial. They have a work strength of 11- 50 employees.
2- Vaxxas
Founders: Mark Kendall
Founding year: 2011
Headquarter: Sydney, New South Wales, Australia
Funding received: USD 46.2 Million
Investors: Bill & Melinda Gates Foundation, OneVentures, HealthCare Ventures, Brandon Capital Partners and Medical Research Commercialisation.
About the company: Vaxxass is a privately held organisation that develops new medical devices for vaccine delivery by using microneedle Technology. The company operates under the biotechnology industry. They have a work strength of 11- 50 e employees.
3- MedAdsivor International
Founders: Josh Swinnerton
Founding year: 2013
Headquarter: Camberwell, Victoria, Australia
Funding received: USD 26 Million
Investors: Ozdocs Online and HealthNotes
About the company: MedAdvisor International is a public organisation which develops software for personal medication management. It is a world class medication management platform focused on addressing the gap and burden of medication adherence. The company also deals with various specialties like improving health outcomes, virtual coaching digital health and medication support software development. They have a work strength of 51- 200 employees.
4- Global Kinetics Corporation
Founders: Malcolm Horne
Founding year: 2007
Headquarter: Melbourne, Victoria , Australia
Funding received: USD 20.8 Million
Investors: Brandon Capital Partners
About the company: Global Kinetics Corporation is a privately held organization which commercializes innovative technology e developed by a Professor Malcolm Home, from the Florey Institute of Neuroscience and Mental Health. The company operates under biotechnology, neuroscience and therapeutic industries. They also deal with specialties like Parkinson disease. They have a work strength of 11- 50 employees.
5- Bionic Vision Technology
Founders: Ash Attia
Founding year: 2010
Headquarter: Carlton South, Victoria, Australia
Funding received: USD 18 Million
Investors: China Huarong International Holding and State Path Capital Limited.
About the company: Bionic Vision Technology is a privately held Australian organization which develops visual prostheses to restore vision to the blind. The devices for treatment operate by electrically stimulating the remaining retinal cells in patients with retinal degeneration. They have a work strength of 11- 50 employees.
6- PainChek
Founders: Jeff Hughes and Kreshnik Hoti
Founding year: 2016
Headquarter: Sydney, New South Wales, Australia
Funding received: USD 15 Million
Investors: Post – IPO Equity
About the company: PainChek is a public transforming pain management to help give a voice to those who cannot verbalise their plan. The company has a unique technology which uses facial recognition and artificial intelligence to detect pain. They also deal with various specialties like Medical Devices, Aged Care, Mobile App, Artificial Intelligence, Dementia Care and Health Tech. They have a work strength of 11- 50 employees.
7- Prospection
Founders: Eric Chung, Peter Cronin and Ricky Chen
Founding year: 2012
Headquarter: Sydney, New South Wales, Australia
Funding received: USD 10 Million
Investors: Main Sequence Ventures and Horizons Ventures
About the company: Prospection is a privately held organization that measurably changes health outcomes through better informed decisions, using health data and predictive analytics. The company operates under HealthCare, Predictive Analytics, Artificial Intelligence and Machine learning. They have a work strength of 51 – 200 employees.
8- HotDoc
Founders: Simon Holland
Founding year: 2012
Headquarter: Melbourne, Victoria, Australia
Funding received: USD 7.2 Million
Investors: Right Click Capital and AirTree Ventures
About the company: HotDoc is a privately held organization that is also known as an online appointment booking and eHealth software programme. The company is dedicated to promoting accessibility in Australian healthcare, and aims to empower patients and health professionals. They have a work strength of 51- 100 employees.
9- Mindset Health
Founders: Alex Naoumidis and Chris Naoumidis
Founding year: 2018
Headquarter: Melbourne, Victoria, Australia
Funding received: USD 1.2 Million
Investors: Y Combinator, Giant Leap Fund, Blackbird Ventures and Startmate
About the company: Mindset Health is a privately held digital therapeutics organization that helps to manage chronic health issues like irritable bowel syndrome and anxiety with app based hypnotherapy. They also deal with various specialties like depression, chronic pain, erectile dysfunction, hypnosis and behavioral therapy. They have a work strength of 11- 50 employees.
10- Navi Medical Technologies
Founders: Alexander Newton
Founding year: 2017
Headquarter: Docklands, Victoria , Australia
Funding received: USD 400 K
Investors: Grant
About the company: Navi Medical Technologies is a privately held organization that is also known as a medical device development company. The company operates under HealthCare and Medical Devices and has a work strength of 2- 10 employees.
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