May 3, 2023, Boston – Healthy.io, a pioneer in turning smartphone cameras into medical-grade tools, announced the completion of a USD 50 million investment. Aleph and other current shareholders join Schusterman Family Investments, leading this Series D funding round. The company’s Series D includes this investment and a further unannounced USD 45 million investment in February 2022. Since becoming the first and only company to provide an FDA-approved smartphone-powered, at-home kidney test in July 2022, the company has gained more commercial traction in the US.
The most recent investment will assist Healthy.io’s growth across the U.S. market, where top health plans, health systems, and renal care management organizations have raised the demand for Minuteful KidneyTM, the company’s clinical-grade kidney test and patient interaction service.
More Americans are at risk for chronic kidney disease (CKD) but go undiagnosed and untreated as rates of diabetes and hypertension rise nationwide. The leading cause of death in the nation is CKD. 90% of the 37 million Americans with the condition, which disproportionately affects underprivileged populations and is known as a “silent killer,” are unaware that they have it and, as a result, frequently develop late-stage CKD or require dialysis.
At-risk Americans have obstacles that prevent them from undergoing advised testing, such as a urine albumin-creatinine ratio (ACR) test that can identify kidney disease. These obstacles include a need for more awareness and transportation issues. 80% of Americans who are advised to do uACR testing do not.
As a result, the clinical quality, at-home test solution from Healthy.io has become a sought-after element in renal management programs at insurance companies. The answer has proven unprecedentedly high adherence rates of up to 50% across previously untested groups in tests involving over 250,000 patients in the U.S. and the U.K. Promoting early detection of CKD can also significantly cut down on the disease’s spiraling expenses, which are already costing Medicare $124 billion annually.
“Improving patient lives by providing clinical grade testing at the speed of life has always been our objective. Minuteful Kidney can lower healthcare costs, generate therapeutic value for clinicians, and enable patients of all socioeconomic levels to avoid expensive and disruptive kidney disease therapies by lowering obstacles to necessary diagnostic testing. By doing so, we can significantly reduce one of healthcare’s major cost drivers while also improving access to and equity in health care. Yonatan Adiri, CEO and founder of Healthy.io said, “We are grateful to our investors for believing in our firm, trusting our abilities, and bringing us one step closer to that goal during these trying times.
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