Moving Analytics, an Irvine, California-based telehealth startup that provides remote cardiac rehab, recently announced it has raised $20 million in Series A funding.
The round was co-led by Wellington Access Ventures and Seae Ventures, with participation from Philips Ventures, SteelSky Ventures, Aphelion Capital, Nueterra Capital and Citi Ventures. The financing brings the company’s total funding to $30 million.
The company was founded in 2016 with the mission of empowering people to live a life free of heart disease by providing telehealth cardiac care, according to Harsh Vathsangam, Moving Analytics’ co-founder and CEO. He said about 90% of post-heart attack or post-cardiac surgery patients do not have access to follow-up care due to barriers like not being able to take time off work or drive long distances to hospitals.
Currently these patients’ only option is facility-based rehab. To address this problem, Moving Analytics rolled out a post-acute cardiac care telehealth program. The program gives patients access to a multidisciplinary team of cardiologists, nurses, nutritionists and exercise physiologists from the comfort of their home.
Patients who are enrolled in the program are shipped a kit that consists of a blood pressure cuff, weight scale, activity tracker and educational booklets. They are then connected to a physician care manager who creates a customized care plan consisting of exercise plans, nutrition coaching, mental health counseling, medication adherence strategies and cardiovascular disease education.
To measure the impact of its intervention, Moving Analytics looks at how patients’ clinical outcomes have changed by the end of the 12-week program. When the company examined a population of patients before and after the program to see how many were hypertensive or had clinical depression, Vathsangam said they saw a 50% reduction in hypertension and 70% reduction in depression.
Vathsangam described Moving Analytics as a “clinical physician group that bills health plans for its services.” The startup’s services are currently covered in 14 states. In the last year, the company has doubled in size to now employ 50 people. It will use its new capital to scale its platform, expand its presence in the market and develop content focusing on heart health among women and people of color.
“Our main differentiator is our tremendous experience,” Vathsangam said. “Our care plans are based on over 20 years of research and clinical trials on over 70,000 patients. By the end of this year, we will have served over 5,000 patients in our platform, putting us head and shoulders above anyone else in terms of market validation and deployment expertise.”
Those are fighting words, but the startup does seem to have caught the attention of large health plans and providers. Some of Moving Analytics’ customers include Kaiser Permanente, Highmark Health, Veterans Affairs Administration, BlueCross BlueShield of Illinois and CDPHP.
As for the Moving Analytics’ long-term goals, Vathsangam said the company hopes to consistently increase the number of patients it serves and eventually expand beyond post-acute care to other indications in cardiovascular disease, such as prevention.
Photo: Moving Analytics