Today in healthcare, MedPay raises $1.2 million in early venture round with a pair of investors, and Palta will use $100 million in funding for preventive healthcare products. Plus, solving the $140 billion unpaid healthcare bills problem and Embark Veterinary’s plans for its $75 million funding.
India’s MedPay Nets $1.2M To Link Insurance, Healthcare Payments
MedPay, an Indian company that says it uses artificial intelligence to provide quick payments from health insurance companies to providers such as doctors or pharmacies, announced it raised $1.2 million in an early venture round.
The investors, according to a MedPay news release, are Entrepreneur First and GrowX Ventures.
Doctors Saying ‘I’ll Bill You’ Doesn’t Cut It Anymore
Healthcare has a $140 billion unpaid bills problem — and it’s growing, Rectangle Health CEO Dominick Colabella told Karen Webster in a recent conversation. Every minute that practitioners spend trying to collect those funds, the price is going up — and the amount of money going back to care providers’ coffers is going down.
UK’s Palta Nets $100M To Scale Preventive Healthcare Products
Health and well-being tech company Palta has announced it has raised $100 million in a Series B round. Palta’s products deliver preventive health care, offering technological solutions to a variety of health issues and lifestyle fixes. The company wants to create more apps like Flo, which helps women track their menstrual cycles. Other apps by the company include Simple Fasting, a dieting app, and Zing Fitness Coach, a personalized fitness app.
Boston’s Embark Veterinary Gets $75M To Scale Its Dog Genetics Offering
Dogs genetics company Embark Veterinary has announced $75 million in Series B funding, a press release says, which represents the largest amount of funding a pet startup has garnered so far.
The new funding will be used to add more development for the company’s discovery engine, which the press release says will help allow more discoveries for dogs to get better healthcare. Embark’s goal, according to the release, is to increase dogs’ life span by three years within the next decade. Embark boasts that it has a DNA test for dogs which can test for more than 350 breeds and over 200 health risks.