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Home > Coronavirus > CHART OF THE DAY: Venture capital investment in health tech on track for record year

CHART OF THE DAY: Venture capital investment in health tech on track for record year

Nov. 3, 2020 by Davis Nordell, Matt Wolf and Kurt Shenk

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North American investment in venture capital-backed health technology and digital health companies hit a record through the first 10 months of the year, outpacing all of 2019 with two months to go. The total venture capital raised by health tech so far this year reached $12.2 billion, compared with $10.7 billion for all of 2019.

Digital health technologies have been the target of investors for some time now, but the pandemic has accelerated the adoption of these technologies and has spurred increased investment in startups developing transformational solutions.

The prohibition of elective procedures and changes to the virtual health care regulatory and reimbursement environments have spurred patients and physicians to use telehealth services for the first time. Other areas include virtual clinical trials, which promise to decentralize and lower their cost, and remote patient monitoring, which allows for such procedures outside of traditional, high-cost clinical settings.

For more information on how the coronavirus is affecting midsize businesses, please visit the RSM Coronavirus Resource Center.

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Filed Under: Coronavirus, Health Care, Tech, Media and Telecom Tagged With: coronavirus, Covid-19, health tech, venture capital

About Davis Nordell

@davisnordell

Davis has more than 11 years of experience in providing tax compliance and tax consulting services to a wide array of middle market clients in a variety of sectors. His focus is primarily on large privately held businesses in the technology and consumer products industries with multi-state compliance footprints.

In May 2019, Davis was selected as a senior analyst in RSM’s cutting-edge Industry Eminence Program, which positions its senior analysts to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves. These senior analysts advise clients on conditions influencing middle market leaders. Davis’ focus is on the technology industry.

About Matt Wolf

@MattWolfHC

Matt leads RSM’s health care valuation consulting group. In this capacity, Matt helps health care clients evaluate mergers, acquisitions, joint ventures, and other growth strategies.

In January 2018, Matt was selected as a senior analyst RSM’s cutting edge Industry Eminence Program, which positions its senior analysts to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves. These senior analysts advise clients on conditions impacting middle market leaders. Matt’s focus is the health care and life sciences space.

About Kurt Shenk

@kurt_shenk

In January 2018, Kurt was selected as a senior analyst in RSM’s cutting-edge Industry Eminence Program, which positions participants to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves. Senior analysts advise clients on conditions impacting middle market leaders. Kurt’s focus is the technology industry.

Kurt has over nine years of audit and accounting experience, serving innovative venture- and private equity-backed technology clients. His responsibilities include working to assure effective and efficient planning, execution and wrap up of engagements. His proactive approach toward client service is the foundation of the strong client relationships that he maintains.

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