AI health firm Myia Labs has raised $10 million in a Series A funding for its AI and consumer wearable monitoring platform. The funding round was led by Mercy Virtual which pledged $5 million. Other investors in the round include Zetta Venture Partners, BootstrapLabs, Boston Consulting Group and B Capital Group, all of which participated in last year’s $6.75 million seed round.
Myia’s platform uses Apple Watches, Fitbits, Oura Rings and other consumer devices to monitor and collect real-world data. In combination with Myia Lab’s applied machine intelligence technology, these data are then used to get insights on the patient’s chronic conditions, enabling doctors to determine whether or not additional intervention is needed, reports MobiHealthNews.
“Real-world data from patients’ everyday life is an essential element for clinicians to be more preventative in caring for patients,” Simon MacGibbon, cofounder and CEO of Myia Health, told MobiHealthNews in an email. “If inserted into clinicians’ workflow at the right time, such data will allow them to see bad things before they happen, to personalize patient care plans (e.g., making more timely medication changes), and to optimize the use of scarce resources by focusing on the patients who need care the most. We think of this as ‘personalized care management,’ not just ‘remote patient monitoring.’”
Described as ‘hospital without beds,’ Mercy Virtual’s low-cost at-home virtual care has so far reduced readmissions among chronic disease patients by 50% over a two-year period. About its partnership with Myia, the company told MobiHealthNews that it drove the relationship from a commercial partnership to a full-fledged strategic investment.
“Myia stands out for its breadth and depth of capabilities,” said J. Gavin Helton, president of clinical integration at Mercy Virtual. “From a consumer-grade patient experience and seasoned machine learning and bio-computation experts to incredible depth of thought regarding how to surface actionable information into clinical workflows to allow our clinicians to practice at top of license, Myia can truly enable us to deliver on the promise of virtual care. Most important of all though is the trust and respect we have for each other as we work with urgency and transparency towards a common vision that will benefit patients and clinicians both.”