Health
Virta Health achieved a $ 2 billion valuation with $ 133 million in funding to expand the range of platforms to reverse diabetes
The world may not yet have the technology to go back in time, but Virta Health wants its telemedicine platform to do tricks for users with type 2 diabetes.
And investors seem to agree.Only a few months later increase With $ 65 million in Series D funding, the company has completed a total of $ 133 million in Series E rounds.
Virta’s digital platform aims to reverse the progression of diabetes in two approaches. First, clinicians devise a personalized nutritional plan for each user, focusing on limiting carbohydrates to control blood sugar levels without medication. The Virta smartphone app not only provides detailed information about the plan, but also provides access to health coaches via instant messaging and opt-in user discussion forums.
Then, as the patient follows the nutrition plan, the app records symptomatology and health data. It can be used by clinicians to adjust prescription levels in real time, resulting in a long-term reduction in chronic hyperglycemia.
Relation: Dexcom links with Welldoc to illustrate the digital path from CGM to type 2 diabetes.
2018 clinical Research When using the Virta method, more than 90% of people with type 2 diabetes showed that insulin doses were reduced or completely eliminated at 1 year, during which time they lost an average of 12% of their starting body weight. It was.
Recently, clinical result The Virta platform, released in March, showed that 97% of prediabetes patients were prevented from progressing to type 2 diabetes in two years. And more than half of those patients completely reversed prediabetes. That is, they achieved normal blood sugar levels.
The latest investment round was led by Tiger Global, with Virta valuation reaching $ 2 billion. That’s almost double since the Series D funding ended in December last year.
Relation: Glooko Raises $ 30 Million to Expand Digital Diabetes Initiatives
Virta uses revenue to provide a platform for more employers, health insurance and government groups. The client base of San Francisco-based startups currently includes approximately 100 organizations and has users in all states.
“The standard for diabetes treatment was more medication, more weight gain, and more pain. The reversal of diabetes changes this,” said co-founder and CEO Sami Inkunen. Said In the statement. “We have shown the way for people to live without medication and diabetes. This investment is to reach more people and make the diabetes reversal mainstream.”
CDC Estimate A total of 122 million Americans have type 2 diabetes or prediabetes, which accounts for about half of the adult population in the United States. In 2017 alone, the cost of cases diagnosed with diabetes reached $ 327 billion. Virta claims that the intervention will save paying organizations about $ 5,000 per patient per year.
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