Digital health companies defy downturn to deliver significant growth in H1 2020
ANDHealth, Australia’s leading organisation in accelerating the commercialisation of evidence-based digital health technologies, today announced new outcomes achieved by the Australian companies which participated in the two-year pilot of the ANDHealth+ Program.
The companies report quarterly against key growth metrics. In the June quarter these outcomes included:
- $30.5M in capital raised
- $14.8M in revenues
- 188 jobs created (including 12 C-suite jobs)
- 91,280 patients served
- 33 clinical trials and studies commenced
- 303 operational sites
- 820 new commercial pilots
- 160 new customers
- 17 new markets entered
- 106 new product releases
But of greatest interest is the significant growth experienced by these companies since January, at the same time as many other sectors and companies suffered catastrophic losses and staff redundancies during the COVID-19 crisis.
Demonstrating both the growth potential of this nascent industry, and also its ability to support the health of Australians during significant disruption to the health system, during the first half the cohorts reported increases of:
- 18% in new capital raised ($4.6M)
- 54% in revenue ($5.2M)
- 33% in new staff (47 jobs, and a 20% increase in new C-suite jobs)
- 70% in new patients served
- 38% in clinical trials and studies commenced
- 46% in operational sites
- 27% in new commercial pilots
ANDHealth founder and CEO Bronwyn Le Grice said: “These figures clearly demonstrate that Australian digital health companies are capable of delivering outcomes that are internationally competitive and which demonstrate extraordinary impact.
“We believe that there is a clear case for Australian governments to step in and support this nascent, high-potential industry to achieve the triple aim of economic growth, health system resilience and better healthcare, and growth of advanced manufacturing capabilities.”
The ANDHealth+ cohort companies are DoseMe, CancerAid, Perx, Atmo, Vitalic, Seer Medical, AllergyPal, Health Delivered and Kesem Health. They were selected to take part in the ANDHealth+ program from more than 150 applicants, and were then screened by a multi-sector, C-suite member panel.
The companies then participated in a globally unique deep industry immersion and advisory program which delivered tailored support and advice specific to their needs and business strategy. Unlike other programs, ANDHealth+ is not curriculum-based but involves a tailored, multi-disciplinary, multi-sector panel of C-suite executives advising and supporting the company across all aspects of its business for up to nine months.
If you would like to speak with any of the companies mentioned in this release, please contact Cristina Fletcher on +61 481 353 692.
For more information about ANDHealth+ and our alumni, please visit https://andhealth.com.au/programs/andhealth-plus-alumni/