Xconomy reported on insights shared at Fenwick & West’s annual Digital Health Investor Summit, starting with the fact that funding for digital health initiatives is booming.
Nearly $1.5 billion has already gone into digital health funding in 2014, according to a tally from Fenwick client start-up incubator Rock Health — a pace that virtually guarantees the industry will surpass the $2 billion in funding received in 2013.
The types of companies and products being funded range from back-end medical record software to disease analysis tools to personal fitness apps, Xconomy reported.
The digital health sector is popular with a number of investors, including big players like the telecom company Qualcomm and the pharmaceutical giant Merck.
According to Rock Health chief strategy officer Malay Gandhi, Qualcomm’s venture team has done 15 digital health investment deals worth more than $2 million apiece since the beginning of 2011. Merck has also created a multimillion-dollar venture fund aimed at digital health and other non-pharmaceutical investments.
The full article is available through the Xconomy website.