I got a company German digital health, Ada Health, is supported by the investment arms of South Korean company Samsung and German drug giant Bayer.
The German company developed a pocket-style app that uses artificial intelligence to try to diagnose symptoms.
Ada Health announced that it has raised $ 90 million in new financing, bringing the total investment in the company to about $ 150 million.
Bayer led the financing through its investment arm Leaps by Bayer, while Samsung invested through Samsung Catalyst Fund.
It is the Samsung Catalyst Fund A venture capital fund that Samsung uses to support companies around the world.
Yong Sun, Chief Strategy Officer and Former Director of Samsung, joins the Board of Directors of Ada Health.
Ada Health, founded in 2011, says its app has been downloaded more than 11 million times.
The app basically works like a WhatsApp chat with your trusted family doctor, but 24/7.
As the patient introduces their symptoms, the AI chatbot asks a series of questions to try to identify the problem.
Then, the app introduces the patient to the conditions that are most likely to be the cause and provides some suggestions on what to do next to address the problem.
The iOS and Android apps provide general advice, such as seeing a GP in the next three days.
But when patients interact with Ada Health through a health system that uses the app, they can directly book an appointment and share the results of pre-evaluation with a real doctor.
Samsung and the medical field:
The company has struck deals with several health systems, health insurances, and life sciences companies.
While the app is free for patients to download, Ada Health charges partners to access its programs.
The new funding is being used to help the company expand further in the United States, which is its largest market with two million users.
Ada Health has nearly 4 million users across the United Kingdom, Germany, Brazil and India, with nearly 1 million users in each.
The funding is also being used to improve the company’s algorithms, as well as the medical knowledge base, and to go beyond 10 languages.
The company wants to provide the app with more information other than the symptom data provided by the patient.
This could include lab data, genetic testing and sensor data.
Smart watches and other sensors have made a big leap forward.
Nowadays, you can measure blood pressure, take an electrocardiogram, and measure heart rate variability and blood oxygen levels.
And compared to other doctor apps like Babylon and Kry, Ada Health received less funding.
And unlike Babylon and Kry, Ada Health does not allow patients to have a video call with a GP.
Ada Health ran a service called Doctor Chat that allowed users to consult a registered GP through an on-demand chat portal.
However, it was deactivated in March 2018 after having been alive for about a year.