Digital Healthcare Companies - Part Two
Details pertaining to Flatiron Health, Patientslikeme, and 23andMe have been populated in rows F-H of the attached spreadsheet.
In order to fulfill this request, we searched the respective company websites first. While we were able to find some information in the press release section of the companies, there was very limited information on the financials as all the companies we researched were private, and therefore, had not made their annual reports public. Next, we searched media sources like Forbes, Xconomy, Technology Review, and Tech Crunch as funding, valuation, and revenue data are often published by the media when they cover funding rounds of companies. For any information we did not find on websites and media sources, we relied on startup and business information databases like Crunchbase, Pitchbook, Deal Room, Craft, Hoovers, and Owler.
Flatiron was acquired by Roche at a valuation of $1.9 billion in early 2018. Flatiron’s revenue for the nine months ending Dec 31, 2018, was CHF 56 million ($55 million). Flatiron’s revenue in the first quarter of 2018—before its acquisition was completed-- was CHF 22 million (CHF 78M-CHF 56M). As we were unable to find Flatiron’s 2017 revenue, we furnished the 2018 revenue (CHF 78 million/ $76.5 million). At the time of the acquisition, Flatiron catered to 2 million unique and active cancer patients annually and had 450 employees. It had raised $313 million before it got acquired.
Patientslikeme has raised a total of $127 million till date. It was valued at $400-$600 million at the time of its last funding round and had 500,000 users and 160 employees. Its annual revenue is estimated to be $23.7 million. However, the source (Crunchbase/Owler) did not mention the year for which it has estimated the annual revenue.
23andMe has raised $786.1 million till date and was valued at $2.5 billion during its last funding round in July 2018. By early 2018, it had done 3 million tests and had 450 employees. It generates revenue of $65 million annually. However, the source (Crunchbase/Owler) did not mention the year for which it has estimated the annual revenue.