As it transitions to remote patient monitoring, Jawbone Health raises $65 million

 

In its effort to establish itself as a supplier of medical devices and healthcare services, Jawbone Health has reportedly raised a cool $65 million, according to a recent SEC filing.

Although this may seem like a lot, it is little compared to the $900 million it raised over the course of the ten years it was known as Jawbone in the consumer wearables market. In the end, the business found it challenging to compete with brands like Apple, Fitbit, and Garmin. The introduction of low-cost wearable manufacturers like Xiaomi did nothing to improve the circumstances.

It made the decision to close its doors and sell its assets in 2017 as a result of failing to stay up with the competition. The choice was made to move into a new business with the same CEO. The San Francisco company made the decision to focus on the market for clinical healthcare items.

Jawbone Health is developing a medical subscription service that would enable remote patient monitoring in order to achieve this. Users will be given a clinical-grade wristband that can interface with a smartphone app and upload a copy of their data to the cloud. In this manner, both AI and medical professionals would examine their vital data. Additionally, users would be able to use current gadgets like an Apple Watch. The ultimate objective is to identify and stop diseases early.

Given its history, it’s extremely impressive that the company was able to secure further funding. Today, a straightforward message is displayed when you visit the Jawbone Health website.

When possible, prevention is always preferable to treatment.

We diagnose lifestyle problems at an early stage and help you lead a better life.

All done. There is no additional data available. According to its careers page, “Interested in transforming digital health? There are numerous opportunities for us. However, more information may be obtained from a presentation the business gave at the Dreamforce conference last year.

The fact that Hosain Rahman is still the CEO and director is undeniable. Some of Jawbone’s staff members followed him to the new business, which, according to its LinkedIn site, presently employs 51 people. Ali Hashemi, a Polymath Ventures investor; David Lee, the current chairman of Refractor Capital; and Chris Farmer are the other directors (SignalFire CEO).

It will be interesting to observe how Jawbone Health develops. When developing a clinical-grade therapy, there are many challenges to overcome, such as demonstrating its efficacy and obtaining regulatory approval. As numerous manufacturers of consumer wearables attempt to enter this market, competition is also quite fierce.

 

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