Withings Raises $60 Million to Become the Data-Enabled Bridge Between Patients and Healthcare Professionals
PARIS, July 28, 2020 /PRNewswire/ -- Withings, early pioneers of the connected health revolution, has announced a $60 million Series B funding round co-led by healthcare investment specialists Gilde Healthcare, and long-term Withings partners and investors, Idinvest Partners and Bpifrance, through their Large Venture funds, as well as BNP Paribas Développement, ODDO BHF Private Equity, and Adelie Capital. It will invest funds to globally scale its dedicated business-to-business division Withings MED PRO and accelerate the development of the next generation of consumer health devices that bring medical grade and predictive capabilities into the home.
Founded in 2008, Withings has built the largest ecosystem of non-invasive connected health devices on the market. Its portfolio is comprised of smart scales, blood pressure monitors, smartwatches, sleep monitors, and thermometers. Its medical grade devices capture 20 vital health parameters such as blood pressure, ECG, weight, heart rate, activity levels, as well as sleep apnea, and sleep patterns.
Having led a paradigm shift in the way consumers and physicians interact by enabling accurate and regular patient-generated data collection, Withings will capitalize on this investment to solidify its position as a trusted intermediary between patients and healthcare professionals. It plans to add 100 new positions in the United Sates and France by the end of the year and continue to invest in products and data services that help deliver more personalized, continuous, and preventive medicine.
Eric Carreel, President and co-founder of Withings: "I strongly believe in technology's ability to transform society's health by allowing anyone to regularly monitor their vitals from home and involve health professionals in this process. Today, we are in an exciting time where medicine is becoming personalized, continuous, and based on data analysis, and I am proud Withings is at the heart of this revolution. With funding from like-minded partners, we can scale our efforts globally and continue to invest in new technologies and AI tools that can detect and predict medical conditions."
In 2019, Withings launched MED PRO, a dedicated business-to-business division that allows medical professionals, institutions, payers, disease management programs, coaching platforms, and researchers to leverage Withings devices and data analytics within their own ecosystems. It offers remote patient and telemedicine services and solutions for dedicated health programs that manage chronic diseases such as diabetes, hypertension, heart health, sleep, and weight management.
MED PRO also aids academic and pharma research, having been involved in over 100 clinical and academic studies by leading organizations such as Harvard University, Hôpital Européen Georges Pompidou, the American Medical Group Association, and Scripps Health. In addition, it is currently involved in a research initiative with the Department of Cardiology at the university hospital of the Ludwig-Maximilians University of Munich, which is integrating the soon to be launched Withings ScanWatch into a COVID-19 patient monitoring project. ScanWatch is capable of tracking the blood oxygen saturation and the heart rhythm by wrist measurements.
As Withings deepens its ongoing healthcare strategy, it will be guided by its newly appointed global Medical Advisory Board, comprised of eminent medical, research, and scientific leaders: Dr. John Halamka, President of the Mayo Clinic Platform, Dr. Stéphane Laurent, former Head of Clinical Pharmacology in Hôpital Européen Georges Pompidou in Paris, and Craig Lipset, former head of Clinical Innovation at Pfizer.
Withings creates devices embedded in easy-to-use everyday objects that connect to apps and act as powerful daily health check-ups, as well as tools to help master long-term health goals.
Founded by visionary innovators Cédric Hutchings and Eric Carreel in 2008, the Withings team of engineers, doctors, and health professionals invent the world's most efficient devices to help track and analyze anyone's vitals. The ecosystem range includes award-winning products across the health spectrum, including hybrid smartwatches and health trackers (Move, Move ECG, Steel, Steel HR, Steel HR Sport, Pulse HR), connected scales (Body Cardio, Body+, Body), blood pressure monitors (BPM Core and BPM Connect), and an advanced sleep system (Sleep Analyzer). Every piece of collected data comes to life in the free Health Mate app, where users can find coaching, motivation, and valuable insights to share with their doctors and shape key aspects of their health. Read more about Withings on withings.com.
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