Friday, March 29, 2024
HomeHealthcareIn MSK's competitive market, Sword is worth $2B

In MSK’s competitive market, Sword is worth $2B


Sword Health uses sensors to guide people through physical therapy exercises.Photo Credit: Sword Health

Faced with the increasingly fierce musculoskeletal care market, Sword Health has recently reached a valuation of US$2 billion after completing the oversubscribed D-round financing. The company initially sought to raise US$163 million in a funding round led by Sapphire Ventures, a technology-focused venture capital firm, but eventually raised another US$26 million.

Sword is one of several digital health companies that want to provide virtual care for musculoskeletal diseases. In order to differentiate itself from its competitors, it touts its physical therapists and the range of diseases it covers beyond back pain.

Founder and CEO Virgilio Bento founded the company in 2015 when his family experienced the challenges of physical rehabilitation firsthand.

He said at the press conference: “I started working at Sword after a traumatic personal experience, where I witnessed the challenges my family faced when they had to find their loved ones back.” “See SWORD right. The impact of thousands of members around the world is really ashamed.”

The company has a service where members can contact a physical therapist and ask questions about their pain. It also has wearable sensors that people can use to monitor and correct their movements while exercising at home, and an app with educational content.sword Recently acquired Vigilant Technologies, It constructs a device to correct posture, the purpose is to prevent injury.

Like its competitors, Sword mainly works with employers and health plans to cover its services. Some of its customers include Danaher Corp. and Concordia Plan Services.

It plans to use the new funds to expand its business and cooperate with more self-insurance companies and health plans in the United States and other countries. To date, the company has raised a total of US$320 million.

At the same time, other digital health companies focused on MSK are also bringing investor cash to their expansion plans. Hinge Health, which uses sensor-guided exercises and guidance from a coach or physical therapist, Raised $600 million recently It is valued at 6.2 billion U.S. dollars. And Kaia Health, which built an app to guide users through exercise, Recently established a partnership Provide home care with a physical therapist.



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