Digital health investments: ConsultingMD, Flexible Medical Systems

By Aditi Pai

Over the course of the past few weeks, various digital health companies have raised funds. The roundup below includes investment news from companies that offer a range of digital health products and services, including online physician visits, non-invasive medical sensors, snail mail-powered remote monitoring devices, and portable blood test devices.

HomeBucket2PatchConsultingMD $10 million: Palo Alto, California-based ConsultingMD raised $10 million from Venrock Capital. The matching service takes a patient's medical records, test results and pictures to find the appropriate doctor, according to a great Forbes article. ConsultingMD matches patients to top specialists in various fields to help them get a second opinion on diagnoses. The company plans to use the money to expand its network of physicians.

Flexible Medical Systems $301,785: Rockville, Maryland-based Flexible Medical Systems raised $301,785 from undisclosed investors according to an SEC filing. The company's product, FlexMed, is a wearable, glucose monitoring sensor for people with diabetes that doesn't draw blood. Instead, FlexMed measures glucose levels with tiny electrical signals to the patient's skin.

Daktari Solutions $7 million: Cambridge, Massachusetts-based Daktari Solutions raised $7 million according to SEC filings. Daktari's CD4 is a portable cell counting device that enables care providers to conduct blood tests in the field. Last year, Daktari raised $10 million from Merck Global Health Innovation Fund, Norwich Ventures and Partners Innovation Fund.

iRhythm $6 million: Last month, San Francisco-based iRhythm raised $16 million in funding led by Northwest Venture Partners according to a press release. The money will be used to fund development of new technology and commercial expansion. iRhythm's Zio patch, which goes against the trend by having no connectivity embedded, monitors heart rate continuously for up to 14 days meant to catch arrhythmias in the patient.