Participated · Series C · Jan 2024

Noctrix Health is a Pleasanton, CA-based medical device company developing the Nidra Tonic Motor Activation (TOMAC) therapy for Restless Legs Syndrome (RLS). Its flagship TOMAC therapy is a non-pharmacologic treatment intended to reduce symptoms of primary moderate-to-severe RLS and improve sleep quality in adults who are refractory to medications. Led by CEO and President Shri Raghunathan, the company focuses on clinically validated medical technologies to improve quality of life for patients with chronic medical conditions. Noctrix raised up to $33.5M in a financing that included both debt and equity. Backers included Blue Venture Fund and Sandbox Clinical Ventures. The company intends to use the funds to accelerate its U.S. commercial launch. Noctrix Health is a medical device company led by founder and CEO Shri Raghunathan that develops the Nidra™ Tonic Motor Activation (TOMAC) system, a non‑pharmacologic wearable intended to reduce symptoms of primary moderate‑severe Restless Legs Syndrome (RLS). The TOMAC system is designed to improve sleep quality in adults refractory to medications and is available in the US by prescription only. The company closed a $40M Series C financing to advance the therapy toward an anticipated US launch. Noctrix describes itself as committed to developing clinically validated medical technologies that improve quality of life for patients with chronic conditions. The new funding is intended to support regulatory and commercialization activities for the Nidra™ TOMAC therapy in the US.

Led · Equity · Feb 2023

Medihive provides sophisticated software and clinical solutions to healthcare providers, pharmacies, insurers and consumers via its Webdoctor.ie platform, combining digital and clinical expertise to deliver virtual care. The company focuses on removing friction from patient care journeys and scaling virtual diagnostics and care pathways. Medihive has an existing commercial partnership history with ResMed dating back to 2019. The business employs 130 people and plans to add a further 42 employees over the next two years. Proceeds from the recent investment are earmarked to increase international growth, drive R&D investment and accelerate healthcare software development. The company is headquartered in Dublin, Ireland and is positioned to expand its telehealth services internationally.

Participated · Series B · Sep 2021

Xealth is a Seattle-based company that develops digital health enablement solutions for health systems. Its platform allows providers to prescribe and monitor digital health content, apps, and services as easily as medications. The platform incorporates custom data and analytics so health systems can track, analyze, and evaluate digital health use through its integration platform. Led by CEO Mike McSherry, Xealth reports 12 million orders sent, 100,000 providers engaged, and three million patients reached to date. The company received an investment from Morningside Ventures and intends to use the funds to expand operations and its development efforts. The amount and instrument of the investment were not disclosed in the announcement. Xealth provides a platform that centralizes integration, prescribing, monitoring and governance for digital health tools within clinician workflows. The platform is tightly integrated with EHRs and has full integrations with the largest EHR vendors. It is available to more than 100,000 physicians and its deployments demonstrate a 50–80% reduction in integration and deployment costs while driving substantial patient engagement. Xealth is backed by health systems and strategic investors, including Cerner, Novartis, Philips, ResMed, McKesson Ventures, Threshold Ventures and LRV Health. The company plans to use the new funding to roughly double its team and to fund product innovation, including enhancements to its intelligence engine to better match tools to patients and scale deployments across the U.S. Spun out of Providence St. Joseph Health in 2017 and based in Seattle, Xealth has raised $52.6 million to date. Xealth provides a platform that enables health systems to organize, integrate, deploy and activate digital health tools and programs. Through the platform, clinicians can find and order digital health tools directly from the EHR workflow, send those digital orders to patients' smartphones or desktops, monitor patient engagement and analyze the effects of more engaged patients. The company raised an additional $3M in its Series A, bringing the round to $14M total, and intends to use the funds to advance development and deployment of its platform for digital health programs. Xealth spun out of Providence St. Joseph Health in 2017 and is led by CEO Mike McSherry; it is based in Seattle, Washington. It works with health systems including UPMC, the Froedtert and the Medical College of Wisconsin health network, Duke Health and other leading health systems. Xealth is a digital prescribing platform that enables clinicians to integrate, prescribe and monitor digital health tools for patients from their EHR workflows. Its platform supports patient education, online third-party apps and programs, device monitoring, and non-clinical services such as ride shares, food delivery and e-commerce recommendations. Care teams and physicians can monitor patient engagement and analyze the effects of more engaged patients. Originally incubated and spun out of Providence St. Joseph Health in 2017 and led by CEO Mike McSherry, the company is based in Seattle, WA. Xealth works with health systems including UPMC, the Froedtert and the Medical College of Wisconsin health network, Baylor Scott and White, and Duke. The company raised $11m in a Series A to accelerate expansion of its platform. Xealth is launching a digital prescribing and analytics platform that lets physicians and clinicians prescribe and track educational health content, disease-management apps, and monitoring devices directly from their EMR charting interface. The platform aggregates and filters a variety of content sources into a care provider’s existing EMR workflow, simplifying creation of a customized patient experience. Clinicians can discuss digital tools during appointments, track patient usage afterward, and schedule reminders to encourage engagement. Patients access prescribed digital health tools through their health system’s secure patient portal. Xealth was founded in 2016 by Mike McSherry and was incubated within Providence’s Digital Innovation Group. The company has raised $8.5M to support launch and expansion with participating health systems planning broader integration and use of third-party digital solutions.

Participated · Equity · Feb 2020

Nyxoah SA focuses on neuromodulation‐based solutions for obstructive sleep apnea, led by its flagship Genio system. The minimally invasive Genio implant delivers bilateral hypoglossal nerve stimulation intended to keep patients’ airways open during sleep. To accelerate growth, the company plans to launch commercial activities in the United States while expanding sales in its initial non-U.S. target markets. Newly raised capital will also fund additional clinical data collection, physician-initiated research, and R&D aimed at upgrading Genio, redesigning it for easier manufacturing, and lowering costs. Management intends to build a pipeline of new technologies and explore collaborations in OSA monitoring and diagnostics. Remaining proceeds may support working capital, capital expenditures, investments, acquisitions, and other general corporate purposes. The latest financing package provides up to roughly $77 million through a mix of equity and convertible debt, strengthening Nyxoah’s balance sheet for these initiatives.