Healthcare IT/Digital Health funding in 2017 surpassed $6 billion for the first time than kept on going to close the year at over $7 billion which is a new record for the sector. The annual report complete with information on funding and Mergers and Acquisitions (M&A) was just recently published by the Mercom Capital Group LLC, http://www.mercomcapital.com a global communications and consulting firm.
The report provides extensive information on the healthcare IT/Digital Health sector in 2017. According to the report, Data Analytics in particular enjoyed a very strong year and closed at over $1 billion.
The top funded digital health categories since 2010 included Data Analytics with $1.1 billion, mHealth apps with $759 million, Patient Engagement Solutions with $708 million, Telemedicine with $624 million, Appointment Booking with $516 million, and Clinical Decision support with $514 million.
The big growth in Data Analytics funding was largely driven by the $419 million that went into Artificial Intelligence-based analytics. Together with predictive analytics, these two categories made up almost $500 million in funding. However, mHealth apps and health wearable sensors witnessed steep declines in funding levels year-over-year.
Data Analytics companies were involved in the most M&A transactions in 2017 with 21 transactions followed by Practice Management Solution companies with 19, mHealth App companies with 17, and Telemedicine companies with 16 transactions.
Venture Capital (VC) funding, including (private equity and corporate venture capital in digital health) globally witnessed a record breaking year in 2017 with nearly $7.2 billion raised in 778 deals. This was a 42 percent increase from the previous record set in 2016 of $5.1 billion in 622 deals.
Top VC funding rounds in 2017 raised money for Outcome Health with $500 million, Modernizing Medicine with $231million, Hudong Feng Technology with $200 million, WuXi NextCode with $165 million, PatientPoint with $140 million, Alignment Healthcare with $115 million, Annoroad with $105 million, and PatientsLikeMe with $100 million.
To learn more, go to http://bit.ly/MercomDigitalHealthQ42017Funding.