Healthcare Innovation Startups: Most Successful Companies of the Last 10 YearsWendy Wiesman
Today, the healthcare startup scene is booming. With 2018 projected to be the biggest year for investing for the healthcare industry, the future appears promising as more and more groundbreaking companies emerge into the field with bold strategies for solving problems.
However, the healthcare startup landscape wouldn’t be so prosperous without the prominent startups that emerged from the earlier days and succeeded. As the list of startups continues to grow, here are seven of the most successful healthcare startups of the last 10 years.
Headquartered in North Chicago, this biopharmaceutical company was founded in 2013 by Richard Gonzales. Abbvie, which originated as a spin-off of Abbott Laboratories combines advanced science, expertise, and passion to solve serious health issues, which has had a huge impact on people’s lives all around the world. AbbVie currently has ~29,000 employees in over 175 countries and made $28.2 billion in revenue.
A physician practice management and population health technology company, Privia Health works towards keeping people healthy, preventing disease, and improving care coordination both in and outside of the doctor’s office. The private company incorporates key partnerships with employers, health systems and technology, team based-care, and a unique wellness programs to help them on their mission.
A pioneer and leader in combining high-throughput sequencing and bioinformatics to profile T-cell and B-cell receptors, Adaptive Biotechnologies definitely belongs on this list due to their influence and work within the healthcare sphere. Their immunosequencing platform drives groundbreaking research in cancer and other immune-mediated diseases, which they hope to use to improve patient care and clinical diagnostics.
Dubbed the “Amazon of healthcare,” WeDoctor is the one of the world’s leading medical health technology platforms. Based in China and founded in 2010 by Jerry Liao Jieyuan, WeDoctor works towards addressing the problem of China’s underfunded and overstretched hospitals. Currently WeDoctor has more than 150 million registered users in China for their online appointment booking, prescription, and diagnostic services. The privately held company is valued at $5.5 billion.
Moderna Therapeutics works towards creating MRNA medicines for a wide range of diseases and conditions. Based in Cambridge, MA, the company uses mRNA medicines which allows them to take advantage of normal biological processes to create a desired therapeutic effect. Because of this, they can treat a broad spectrum of diseases, some of which do not have current therapies. Moderna Therapeutics was valued as high as $5B in 2017 by some analysts.
Reata Pharmaceuticals is biopharmaceutical company that develops drugs for cancer, inflammation, and neurodegenerative diseases. Reata’s mission is to identify, develop, and commercialize novel therapeutics to address serious and life-threatening diseases with few or no approved therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. Reata’s lead product candidates, bardoxolone methyl and omaveloxolone, are Nrf2 activators, which are a transcription factor for restoring mitochondrial function, reducing oxidative stress, and resolving inflammation.
Vezeeta.com is the leading digital healthcare booking platform and practice management software in MENA that works towards helping the shift towards automated physician, clinic, and hospital bookings to make healthcare more accessible in the region. With over 200,000 verified reviews, patients are able to search, compare, and book the best doctors for them through Vezeeta.
Our mission isn’t to capitalize on the booming healthcare market, but to push the industry’s success even further with our technology and forward-thinking philosophy. With the Ōmcare Telemed System, we are looking to tackle the problem of medication non-adherence. Of all prescriptions that are filled, 50% are taken incorrectly by the patient. Furthermore, there are 125,000 deaths each year and over $300 billion lost in healthcare costs annually.
At Ōmcare, we are driven to extend the reach of caregivers while enabling face-to-face care from anywhere. Through our technology and innovation, we are actively working towards decreasing the cost of care and empowering patients of all types. We can do what no one else has done before: deliver real medication adherence. We partner with pharmacies, payers, providers, and family caregivers to help people live a healthy, indiependent, and vibrant life no matter their situation.
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