Digital health firm ChronWell raises $6m for liver disease toolkit
US remote healthcare specialist ChronWell has raised $6 million from investors that will be used to accelerate the rollout of its patient management programmes for people with liver and gastrointestinal diseases.
The financing involved new and existing backers, which have not been identified, and will be directed mainly to LIVErHEALTHY, a digital health programme that was launched by ChronWell last year.
The programme is aimed at Medicare patients with chronic liver diseases, including non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH).
The platform is directed at medical practices or healthcare payers, and is built around ChronWell’s chronic care management (CCM) platform, which provides remote monitoring and consultations for patients, personalised care plans, and support with setting treatment goals.
The CCM is bundled with a medical nutrition therapy support provided by ModifyHealth – including home-delivered meals, dietitian support and an app for tracking progress and checking in with a dietitian – and diagnostic technology for liver disease provided by Echosens.
The FibroScan device is a non-invasive, portable diagnostic that is used to spot signs of liver disease like scarring (fibrosis) and steatosis, where fatty deposits build up in the organ. ModifyHealth’s meal plans help patients lose weight, the first line of treatment of NAFLD and NASH.
Taken together, the three components can help practices “improve outcomes, boost revenue and decrease health system costs,” according to Fort Lauderdale-based ChronWell.
Liver diseases like NAFLD and NASH “require continuous care and helping drive patient behaviour once they leave the medical office is the only way to get optimal results,” according to Joe Rubinsztain, the digital health firm’s chief executive.
The company – which had previously raised $7.8 million in funding from rounds in 2018 and 2019 – said it will use the proceeds for the latest round to develop its technology platform and expand its headcount in R&D and commercial.
It will also help expand access to LIVErHEALTHY as well as its other digital health offerings for therapeutic weight loss and chronic GI diseases like irritable bowel syndrome, inflammatory bowel disease and chronic constipation.
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