TytoCare is $49M closer to making virtual primary care a reality after landing a Series D extension to help expand its portfolio of remote diagnostic solutions.
One of telehealth’s biggest hurdles has been the difficulty of conducting remote physical exams, which is exactly what TytoCare’s Home Smart Clinic sets out to address.
The Home Smart Clinic is a modular handheld device with different attachments that allow patients to conduct their own ear, throat, heart, and lung screenings.
- These exams can either be guided by a live video chat with a physician, or performed asynchronously with the results transmitted to the care team.
- That’s also backed by Tyto Insights smart diagnosis support, as well as the Tyto Engagement Labs suite of user-engagement and tracking services.
CEO Dedi Gilad told STAT that the funding increased TytoCare’s valuation and provided enough runway to break even over the next few years as the company sets its sights on an eventual public offering.
The round will also accelerate TytoCare’s expansion into chronic conditions that require more management than the occasional virtual visit, such as asthma and COPD.
- TytoCare recently received FDA Clearance for its first longitudinal care module for Wheeze Detection, which analyzes sounds recorded by the stethoscope attachment for signs of respiratory issues.
- It’s also worth mentioning that TytoCare is taking full advantage of its massive remote exam data set to train the AI models that serve as the backbone of its diagnostic support, and the Wheeze Detection module was apparently trained on the largest lung sound database of its kind.
The Takeaway
We’ve covered plenty of studies highlighting telehealth’s limitations when it comes to accurate remote diagnosis, and TytoCare is leading the charge to make virtual care viable for more conditions. The Home Smart Clinic gives TytoCare a key advantage over competitors that rely solely on video to try to replicate the experience of a doctor’s visit at home, and the modular design is a solid foundation for bolting on new functionality down the road.
