CB Insights today named CareAlign to its fourth-annual Digital Health 150, showcasing the 150 most promising private digital health companies of 2022.
“From reimagining clinical care, to leveraging tech like AR/VR to improve surgical training, this year’s Digital Health 150 winners are transforming the future of healthcare with digital technology,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “This increasingly global cohort, representing more than 18 countries across five continents, is not only driving better patient outcomes, but making healthcare more accessible. We are excited to follow the meaningful impact and continued success of this year’s winners.”
“We are excited to be recognized by CB Insights for our efforts in using technology to transform healthcare. Clinician workloads continue to increase well past sustainable levels, but effective technology can help make our jobs easier. We deliver care as teams, but our systems and technologies keep us working apart. CareAlign is designed to help clinical teams work better together, even when they are apart. Regardless of care setting, discipline, or specialty, CareAlign makes sure everyone is on the same page of who is doing what, why and when for a patient, so nothing falls through the cracks and patients get the best care possible.” said CareAlign CEO Subha Airan-Javia, MD, FAMIA.
Utilizing the CB Insights platform, the research team selected these 150 winners from a pool of over 13,000 private companies, including applicants and nominees. They were chosen based on factors including R&D activity,proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 3,000 Analyst Briefings submitted by applicants.
CareAlign was initially designed by a team of clinicians at the University of Pennsylvania Health System to streamline their team-based case. Clinical users have responded positively to CareAlign, with 81% saying it saves them at least an hour each day, and 75% saying that the platform has prevented errors in their practice. Recently, CareAlign won first place in the AMIA 25×5 Pitch Event, which looked for innovative technology solutions to reduce documentation burden for clinicians.
Quick facts on the 2022 Digital Health 150:
- Equity funding and deals: Since 2017, this year’s Digital Health 150 winners have raised around $5.6B in equity funding across 378 deals. This includes approximately $1.6B raised across 85 deals in 2022 YTD alone.
- Unicorns: This year’s list includes only 5 unicorns with a $1B+ valuation, around 3% of the total list. For comparison, last year’s list contained 17. This tracks with a broader drop in new unicorns across sectors in 2022
- Global Reach: Winners in this year’s Digital Health 150 span 18 countries across 5 continents. A quarter (25%) are headquartered outside of the US — the most in the history of our list. While the US still leads, the UK comes in second with 9 winners, followed by Canada with 5 and Brazil with 3.
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
CareAlign is an EHR-agnostic, device-agnostic care team collaboration platform. Spun out of Penn Medicine, CareAlign allows interdisciplinary teams of clinicians to work together so they can stay on the same page, even when working apart. The platform streamlines clinical workflows to enhance efficiency, improve outcomes, and prevent errors in every clinical setting. Learn more at https://carealign.ai/