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VC funding in digital health hits $2bn in Q1 2019

IANS  |  New Delhi 

(VC) funding into digital reached $2 billion in 149 deals in the first quarter this year, up from $1.4 billion in 142 deals in the fourth quarter of 2018, a report said on Tuesday.

VC funding, including and corporate into digital health (IT) companies, was down 19 per cent, compared to the same quarter last year when nearly $2.5 billion was raised in 187 deals, said the report from Mercom Capital Group, a global communications and research firm.

"Funding levels were down compared to last year in digital health in the absence of larger deals. Mergers and acquisitions (M&A) activity was also flat," said Raj Prabhu, of

The top funded categories in Q1 2019 were $557 million raised by Data Analytics companies, mHealth Apps with $392 million, with $220 million, Booking with $177 million, Clinical Decision Support with $107 million, with $90 million and $80 million for Healthcare IT Service Providers.

"Digital Health public equities experienced a turnaround in Q1 with 66 per cent of them beating the S&P 500 compared to Q4 2018 when 63 per cent of the equities we tracked performed below the S&P 500. Favourable market conditions prompted several companies to announce IPO plans," Prabhu said.

The top VC deals in Q1 2019 included $170 million raised by Doctolib, $100 million from Health Catalyst, $88 million raised by Calm and $80 million by Taimei Medical Technology.

A total of 371 investors participated in funding deals in Q1 2019 compared to 412 investors in Q1 2018, said the report which covered 610 companies and investors.

--IANS

na/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 16 2019. 13:30 IST
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