Startup nations | Israeli companies revolutionizing digital health field

One of the hottest sectors in the global health care industry is the digital health market, which is expected to grow to over $233 billion by 2020. The proliferation of Internet-connected medical devices and wearables, combined with the growing adoption of cloud computing and workflow management applications by health care organizations, are driving the health care industry’s shift to providing more efficient medical solutions at more affordable prices.

Startups in the digital health sector continue to play a crucial role in the innovation revolution, which is transforming not only the industry but also the way we care for ourselves. A large number of these emerging digital health companies can be found in Israel.

Israel is a leader when it comes to integrating information technologies with medicine. The country’s role as a trailblazer in the digital health field is due to a combination of factors: its advanced high-tech sector, top-tier human capital, a strong entrepreneurial spirit, world-class hospitals and research facilities, a relatively small and centralized health care system, an aptitude for creating multidisciplinary solutions and a willingness to test new ideas.

Here are two examples of Israeli companies disrupting health care:

Medivizor helps users access medical information regarding serious or chronic diseases. The platform combines personalization technology with easy-to-understand synopses of complex medical material. Users answer questions about their medical condition and Medivizor scans clinical trials, research papers and other documents to find the most important information specifically relevant to the user’s medical situation.

Tyto is a device that allows anyone to perform a physical health exam and then provide the results to a doctor or other chosen health professional for a consultation. For example, if it’s 2 a.m. and a child is sick with a high fever or sore throat, Tyto’s technology will guide a user through a self-exam or online exam, which is followed up by a virtual “telehealth” visit with a clinician who has been provided access to crucial diagnostic medical information over the cloud.

In light of Israel’s growing success in the emerging digital health industry, the Israeli Economic Mission to the West Coast will once again be co-hosting the Health Evolution Summit’s invitation-only event at the annual JP Morgan Healthcare Conference. The event will attract 400 leaders in the health care industry.

The conference for JP Morgan clients will take place in San Francisco Jan. 11-14. It continues to be among the health care industry’s most prestigious events, with corporates, startups, nonprofits and investors convening from around the world. Health care companies and investors consider it their “super bowl,” with many deals and partnerships announced during the conference.

Startup of the month

The World Economic Forum recently named Israeli biotechnology firm ElMindA one of the world’s 49 most innovative startups. ElMindA has developed the first FDA-approved tool for assessing brain function that visualizes serious brain trauma and illnesses using noninvasive technology. A special helmet measures brain network activity, and then data is analyzed to profile brain functions and changes to assist in disease treatment and intervention. The system potentially can be applied to a wide spectrum of indications and their therapeutic interventions, including concussion, ADHD, pain, stroke, depression, Alzheimer’s disease, Parkinson’s disease and other central nervous system-related conditions. In addition, the technology serves as a valuable tool in the development of CNS-related treatments. ElMindA recently announced that it has received $28 million in a Series C financing round to continue expansion and development.

Exit of the month

Houston-based Direct Energy, one of North America’s largest energy and energy-related services companies, has acquired Panoramic Power, an Israeli energy-management company, for $60 million. Panoramic Power’s wireless and self-powered energy measurement devices offer businesses visible information and insights on their energy consumption, operating costs and efficiency, backed by cloud-based analytics. The company, which also has New York and UK offices, has deployed more than 25,000 sensors at 700 sites in 30 countries.

Gili Ovadia is the S.F.-based Israeli consul for economic affairs to the West Coast.