OrthoFX’s dental technology inspires $13mn funding round
OrthoFX is a San Francisco-based orthodontic and teeth straightening service, using technology to improve the dentistry experience.
The company’s FXOnTrack platform features technologies such as virtual consultations, remote treatment monitoring and wear-time tracking through sensors, which it says reduces the need for in-office visits while still providing the necessary alignment.
Patients can submit photographs of their treatment to be reviewed by both an algorithm and doctors, building up a 3D model of how their teeth will look in future.
On the physical side of the equation, Its clear aligners use a proprietary polymer blend, while at-home impression kits allow for them to be tailored to the mouth of each patient.
Since its foundation in 2017, the company has raised from two rounds. Its , announced earlier this week, saw the company raise $13mn from lead investor SIgnalFire, alongside Unusual Ventures, Shangbay Capital and Kairos.
In , Dr. Jonathan Levine, an OrthoFX provider, said: “DIY projects are great for your home, not for your mouth. Without a doctor’s oversight, serious and permanent issues like periodontal disease, tooth decay, jaw pain, and misaligned bites can go undiagnosed. OrthoFX has figured out the perfect blend of at-home treatments and intelligently scheduled doctor office visits -- which has allowed me to continue providing effective care, even when my offices were closed for such a long period of time.”
The company said it would use the funding to invest in R&D, as well as further improve its offering of digital and physical orthodontic services.
“We started OrthoFX with the premise that a high-quality patient experience must involve care delivered by an orthodontic professional,” said Ren Menon, OrthoFX CEO. ‘Unlike “Do It Yourself’ clear aligner industry newcomers that minimize clinician-patient interaction, we partner orthodontic professionals with every patient receiving professional consultation and follow up treatment.”
Zoom enters the healthcare market - a timeline
Since the pandemic began Zoom has become an integral part of daily life for people working from home, as well as a vital tool for families and friends to communicate. However it's also been eyeing up the healthcare space since 2017, and following the boom in telehealth the company has been rolling out additional services. Here we chart Zoom's move into healthcare.
2011 - 2013
Zoom is founded in San Jose, California, by Eric Yuan, formerly of Cisco. He got the idea to create a video calling platform from his visits to his girlfriend while he was a student, which would take 10 hours by train.
A beta version is released in 2012, which can host up to 15 participants. In 2013 this rises to 25. By mid-2013, Zoom has 1 million users.
2014 - 2017
Zoom attracts investors, including Sequoia Capital, Emergence and Horizon Ventures. By January 2017, Zoom has a series D funding worth $100 million.
2017 - 2019
Zoom for Telehealth launches, including an integration with EHR system Epic. It has cloud-based video, audio, and content sharing features, a "waiting room" for patients, and can easily be integrated into healthcare provider's workflows.
In 2019 Zoom goes public, with its IPO rising 72% in one day.
As a result of the pandemic, Zoom gains 2.2 million new users, more than in the whole of 2019. On the 23rd of March alone - the day the UK lockdown was announced - the platform was downloaded 2.13 million times around the world.
Share prices rise to around $150, and founder and chief executive Eric Yuan becomes one of the world's richest people, with an estimated net worth of $7.9 billion.
Early security issues are addressed by encrypting data with the Advanced Encryption Standard (AES). By now the the platform allows 99 people to be on a call simultaneously
New features launch, including Zoom Home and Zoom for Chats. Throughout the year the platform is used to replace most kinds of real life events: work meetings, online classrooms, church services and social events.
Renamed Zoom for Healthcare, users can share secured video, audio, and content through desktops, mobile phones, and conference devices. As well as Epic, it can be integrated with Strmr, IntakeQ, and Practice Better.
It can also be used with diagnostic cameras and other point-of-care devices, including digital stethoscopes.
In an interview with Korea Biomedical Review, Zoom Global Healthcare Lead Ron Emerson said: "Our service is not simply a virtual care and telemedicine platform but a multi-purpose platform that can satisfy the needs of healthcare institutions."
"It can be used for administrative tasks, including telemedicine, medical team meetings, recruitment, medical education, employee training, and disease prevention. Analysing electronic records managed by Zoom could provide meaningful insights into patient care."
Phoenix Children's Hospital, Belfast's Hospital Services Limited, Butler Health Services and the global Project ECHO are among Zoom for Healthcare's current customers.