Health2Sync, a provider of a digital chronic disease management platform, raised $20 million in a Series C funding round.
The funding was led by Taiwania Capital, with participation from Wistron, Pegatron, BE Health Ventures, ABIES Capital, and Cathay Venture.
The latest funding brings Health2Sync’s total capital raised since it started in 2013 to over $30 million.
What Health2Sync Plans to Do with the New Funding
Health2Sync has some big plans with the recent funding. The company announced that it will use the funds to develop new disease management programs. One key focus is on launching a digital weight loss program that will give people better access to GLP-1 medications. These medications are in high demand for managing weight and related health issues.
Health2Sync also plans to expand its reach into Japan, South Korea, and Australia — these are key strategic markets for the company. Another goal is to deepen its use of artificial intelligence (AI) to improve the experience for both patients and healthcare providers.
On top of that, Health2Sync is getting ready to introduce Insultrate, which is an insulin self-titration software-as-a-medical device. Right now, Insultrate is only available in Taiwan, but the company plans to launch it in international markets soon.
The new funds will also help Health2Sync prepare for a public listing in Taiwan. It means the company is working toward becoming a publicly traded business, which would open up more funding opportunities in the future.
Health2Sync’s Growing Presence in the Healthcare Industry
Health2Sync has been steadily expanding its footprint in the healthcare industry over the past few years. The company has secured partnerships with major pharmaceutical companies and large healthcare systems across the Asia-Pacific region.
Recently, Health2Sync tested a digital diabetes screening and coaching program in Singapore, in collaboration with Abbott and the Health Promotion Board. The company also launched a digital diabetes management program in Australia last December. The program was rolled out with Western Sydney Diabetes and involved using Health2Sync’s mobile application to manage patient care.
Besides diabetes, Health2Sync also offers a digital program for chronic kidney disease. This makes its platform more versatile in addressing multiple chronic health conditions.
The Bigger Picture
Health2Sync’s latest funding signals that the company is becoming a key player in digital healthcare in the Asia-Pacific region. The focus on expanding to Japan, South Korea, and Australia shows that Health2Sync aims to establish a strong international presence.
Health2Sync’s push into weight management through GLP-1 medications and the rollout of Insultrate could help the company become more valuable in the healthcare sector. The decision to invest more in AI also suggests that Health2Sync wants to make its platform more intelligent and more user-friendly for both patients and doctors.
If Health2Sync successfully lists itself as a public company in Taiwan, it could attract even more funding and increase its ability to develop new programs. This would put Health2Sync in a stronger position to compete with other digital health platforms globally.