INSIGHTS
July 21, 2025

Batter up

Last week, medical reference search tool OpenEvidence closed a staggering $210M Series B round (just a few months after its $75M Series A), marking the second large back-to-back raise (following Abridge) in digital health this year. With deployments at more than 10,000 hospitals, OpenEvidence is upping the ante in the clinician workflow space with its AI-native medical reference search and clinical decision support capabilities. Meanwhile, the public exit buzz continues. AI-powered personalized spine surgery innovator Carlsmed, which leverages an imaging and data analytics platform to optimize surgical planning and execution, officially filed to go public later this year.

These headlines signal a continuation of trends we saw in H1: the exit market has opened, and investors are betting big on AI. But will newly minted unicorns meet the expectations baked into their price tags? These cash-flush startups are moving quickly to launch new offerings. OpenEvidence recently unveiled DeepConsult, an AI agent that generates advanced research reports to answer complex clinical questions, while Abridge expands into revenue cycle management. But success doesn’t just hinge on executing growth plans. The AI-powered workflow market will be hard-fought, as competitors and incumbents leverage their longstanding and entrenched buyer relationships, credibility, and market power to respond. With the market heating up, here’s hoping the real winners are supportive workflows, cost efficiencies, and smarter care.

Headlines

Teladoc To Launch Employee Assistance Program (EAP) Wellbound
EAP expands access to mental health, primary care, and chronic condition management services Healthcare Dive

Telehealth Companies Take Quiet Victory Lap Over New Tax Law
Plans and employers can now offer discounted telehealth via health savings accounts Modern Healthcare

Weight-Loss Drugs Telehealth Platform Hims & Hers Hit With New Lawsuit
Stockholder lawsuit raises questions about regulation- and partnership-related risk Newsweek

Trump 2.0 Backs Digital Health In Proposed CY2026 Physician Fee Schedule Rule
Payment changes are good news for telehealth, remote monitoring, and digital therapeutics Fierce Healthcare

Whoop Says FDA Is 'Overstepping Authority' With Blood Pressure Feature Warning
Blood Pressure Insights feature may transform wrist wearable into an unauthorized medical device CNBC

Ultrahuman Launches Blood Vision, Enhances Health Tracking With Wearable Data
Smart ring maker integrates blood test results and analysis in consumer app HIT Consultant

Bristol-Myers And Pfizer To Offer Blockbuster Blood Thinner At Discount
Platform launches with 40% discounted cash price for Eliquis in another pharma DTC play The Wall Street Journal

Health Systems Reconsider Their Venture Funding Arms
Some providers are shifting venture investing strategies in light of operating budget strains Modern Healthcare

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