In recent years, there has been an emergence of digital health as a catalyst for transformation in the global healthcare industry. Israel, the ‘Startup Nation’, has positioned itself at the forefront of the high-tech industry, especially in HealthTech, revolutionizing the healthcare industry with disruptive technologies and solutions.
A key advantage of Israel’s HealthTech industry is its public healthcare system which is comprised of four competing HMOs.
These HMOs have been digitally-based for the past 25 years and the wealth of medical data is protected by Israel’s strong data privacy laws and expertise in cybersecurity technology. This becomes attractive to global health providers and pharmaceutical companies searching for insights and an R&D sandbox. Additionally, many Israeli start-ups have positioned themselves as partners for multinational health-related corporations that want to leverage comprehensive medical data for their product or service development.
According to Start-Up Nation Finder, Israel’s share of global investment in the health tech sector has steadily increased from 1.5% in 2014 to 4.5% in 2019. Despite the financial challenges of 2022, the country still attracted USD1.5 billion in investment capital, and in 2021, received a remarkable USD2.6 billion in investments. Additionally, Galen Growth, a leading research firm focused on digital health analytics reported that Israel is the only region that witnessed a growth in investment from 2021-2022.
There are over 1600 companies in the Life Sciences and HealthTech sector In the Start-Up Nation Finder as of 2022, with the digital health subsector at around 700 companies.
Below are three digital health areas where Israeli companies are making strong progress:
Telemedicine and Remote Monitoring
ATLASense developed REPHAEL, a non-invasive, end-to-end, in-and-out-of-hospital, ICU-level multi-indication remote patient monitoring platform. Utilizing patented multi-sensor and unique algorithms that sense and analyze various physiological changes such as the diaphragm’s electrical activity can seamlessly anticipate and prevent ARDS and respiratory insufficiency.
Neteera has developed a unique and proprietary micro-motion sensor alongside sophisticated algorithms to collect cardio-pulmonary data. The FDA-cleared remote patient monitoring platform successfully untethers patients from machines, streamlines patient monitoring, and reduces the burden and workload increasingly placed on clinical staff.
Wearables and MHealth
Oxitone Medical is the developer of the Oxitone 1000M pulse oximeter, an FDA-cleared medical device designed to continuously monitor and automatically flag critical medical issues in patients with severe chronic diseases, enabling them to get immediate help in the most straightforward way. The device’s sensors are placed around the patient’s ulnar bone at the wrist, where they deliver a reading every second to the cloud. The basic measurements include SpO2, pulse rate, HRV, motion, and skin temperature.
Binah.ai’s Health Data Platform is an AI-powered, video-based, 100% software solution that enables anyone to measure a wide range of biomarkers using a smartphone, tablet, or laptop. Biomarkers include blood pressure, heart rate, heart rate variability (multiple parameters and RRI raw data), oxygen saturation, breathing rate, sympathetic stress, parasympathetic activity, pulse-respiration quotient (PRQ), and Binah Wellness Score.
Tuned provides a hearing care solution that improves people’s hearing quality with an easy-to-use product at an affordable price. The complete hearing care solution consists of a smart hearing aid with superb sound quality, and a mobile app with a built-in AI audiologist that provides 24/7 personalized hearing care.
Kemtai is a computer vision exercise platform for physical therapy and MSK. It runs on any device with a camera (mobile phones, computers, tablets). it also provides patients with real-time feedback and guidance and provides therapists (or the health services providers) with the data of the patient’s performance in order to further personalize their home exercise protocols.