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K Health
Company typePrivate
IndustryHealthcare
Founded2016 in New York, NY, USA
FounderAllon Bloch, Ran Shaul, Israel Roth & Adam Singolda
Headquarters
New York, NY
,
USA
Key people
Allon Bloch (Co-founder & CEO), Ran Shaul (Co-founder & Chief Product Officer), Adam Singolda (Co-founder & board member), Mark Tluszc (Chairman of the Board), Yaron Savoray (CFO), Ashok Balakrishnan (CTO)

K Health is a privately-owned clinical artificial intelligence (AI) company that provides primary care services in the United States.[1] The healthcare technology company was founded in 2016 in New York City.[2] K Health uses AI and data analysis to provide 24/7 virtual care solutions through health systems and insurers, and via its direct-to-consumer mobile app.[1]

Providers can treat hundreds of chronic, urgent, and mental health conditions on the K Health platform, including obesity, hypertension, anxiety, and depression.[2]

History

K Health was founded in 2016 by Allon Bloch (CEO), Ran Shaul (Chief Product Officer), Israel Roth (former Chief Technology Officer) and Adam Singolda (Board Member and CEO of Taboola).[3][4] Bloch was previously Co-CEO of Wix.com, where he's still on the board of directors, and CEO of Vroom.[5]

K Health originally launched in 2018 as a free medical app to give people accurate and personalized health information.[6] The app’s main feature is an AI-driven medical chat function called K. The chat is based on a machine learning algorithm, using data from Maccabi Healthcare Services, a health maintenance organization (HMO) in Israel, and from Mayo Clinic.[7][8][9] K Health has a closed-loop system to learn from its data. K asks various questions based on the symptoms a patient enters in the chat and narrows down the likelihood of certain conditions. Published research shows that K Health’s AI agrees with a doctor’s recommendation the majority of the time. According to Forbes, 70% of people who have a free chat with K start a medical visit.[1][10]

In 2019, K Health launched a 24/7, virtual affiliated medical practice called KMD.[11] The AI-driven medical chat is integrated into the offering. Anyone who completes a chat with K can start a virtual, text-based visit with a board-certified doctor or nurse practitioner. Providers receive information from K on a patient’s symptoms and potential diagnoses. K Health’s AI model continually adds new data from patient visits on the K Health platform. In 2021, virtual providers became available in 48 states.[2]

At the beginning of the COVID-19 pandemic in 2020, K Health created a protocol-based COVID-19 self-assessment to provide users with up-to-date guidance for managing potential cases. It also offered free texting with doctors about coronavirus. K Health's platform offered risk assessment and symptom heat maps.[12]

Partnerships

In 2019, K Health partnered with Elevance Health (formerly Anthem) to offer its virtual solution through the Elevance mobile app, Sydney Health. Anthem also invested in K Health.[13][14] In 2021, K Health, Elevance Health, and Blackstone Growth launched a joint venture called Hydrogen Health to offer K Health through private employers and insurers.[15]

In 2020, K Health announced that it began working with Mayo Clinic Platform.[9]

In 2022, K Health announced the launch of its predictive hypertension treatment model that uses Mayo Clinic patient data to help doctors personalize hypertension treatment. In 2023, K Health and Mayo Clinic co-authored peer-reviewed research that showed how machine learning can accurately predict a patient's optimal antihypertensive treatment while minimizing their side effects and closely adhering to established treatment guidelines.[16]

In 2024, K Health entered into a know-how agreement with Mayo Clinic preventive cardiologists to develop a preventive cardiac solution using K Health’s AI.[17]

In 2023, Cedars-Sinai in California launched its virtual care app, Cedars-Sinai Connect, which was built using K Health’s AI. Cedars-Sinai and K Health jointly manage Cedars-Sinai Primary Care patients.[18]

Acquisitions

In 2021, K Health acquired text-based therapy company Trusst.[19]

Funding

K Health has raised over $300 million in funding since its launch.[20] In 2021, K Health was valued at $1.5 billion, following a $142 Series E funding round. According to Forbes, it was valued at $800 million as of July 2023.[1]

In July 2018, K Health secured $12.5 million in funding.[21] In December 2018, it raised $25 million in Series B funding.[22]

In February 2020, it closed on a $48 million Series C round and in November, it raised an additional $42 million to meet demand for the product due to the COVID-19 pandemic.[11]

In January 2021, K Health announced it closed on a $132 million Series E. It raised an additional $59 million in July 2023 and an additional $50 million in June 2024 in an equity round led by Marcelo Claure of Claure Group.[1][2]

K Health investors include Valor Equity Partners, Mangrove Capital Partners, Notable Capital, 14W, Comcast Ventures, Lerer Hippeau, Primary Venture Partners, and PICO Capital Partners. Cedars-Sinai and Elevance Health are also strategic investors. Gal Gadot and her husband Yaron Varsano also invested in K Health.[23]

References

  1. ^ a b c d e Jennings, Katie (17 July 2023). "This AI Chatbot Has Helped Doctors Treat 3 Million People–And May Be Coming To A Hospital Near You". Forbes. Retrieved 27 July 2024.
  2. ^ a b c d Landi, Heather (1 July 2024). "Digital primary care startup K Health raises $50M in equity funding round". Fierce Healthcare. Retrieved 27 July 2024.
  3. ^ O'Reilly, Lara (16 November 2016). "This startup wants to stop sick people Googling their symptoms and worrying they're about to die". Business Insider. Retrieved 27 July 2024.
  4. ^ Orbach, Meir (27 February 2020). "K Health Raises $48 Million". CTECH. Retrieved 27 July 2024.
  5. ^ "Crain's New York Business 2020 Notable in Healthcare". Crain's New York Business. 2020. Retrieved 27 July 2024.
  6. ^ Mack, Heather (17 July 2018). "K Health Launches Symptom-Checking Chatbot With $9.5 Million". The Wall Street Journal. Retrieved 27 July 2024.
  7. ^ Wiggers, Kyle (17 July 2018). "Online symptom checker K Health raises $12.5 million, launches in New York City". VentureBeat. Retrieved 27 July 2024.
  8. ^ Lieber, Dov (15 September 2019). "Israel Prepares to Unleash AI on Health Care". The Wall Street Journal. Retrieved 27 July 2024.
  9. ^ a b Landi, Heather (18 November 2020). "K Health scores new funding from SpaceX, Tesla investor and a new partnership with Mayo Clinic". Fierce Healthcare. Retrieved 27 July 2024.
  10. ^ "Diagnostic Accuracy of Artificial Intelligence in Virtual Primary Care". Mayo Clinic Proceedings: Digital Health. December 2023. Retrieved 27 July 2024.
  11. ^ a b Gormley, Brian (27 February 2020). "K Health Gets $48 Million for Digital Health Services". The Wall Street Journal. Retrieved 27 July 2024.
  12. ^ "Disruptor 50 2020: K Health". CNBC. 6 May 2021. Retrieved 27 July 2024.
  13. ^ Wilde Mathews, Anna (22 July 2019). "Consumers Will Be Able to Pay for Doctor Visits on Their Phones, Via Anthem". The Wall Street Journal. Retrieved 27 July 2024.
  14. ^ Landi, Heather (22 July 2019). "Anthem launching new app offering personalized health information, texting with doctors". Fierce Healthcare. Retrieved 27 July 2024.
  15. ^ Tepper, Nona (9 December 2021). "Hydrogen Health Banks on Texting, AI in Crowded Virtual Care Market". Modern Healthcare. Retrieved 27 July 2024.
  16. ^ Landi, Heather (20 June 2022). "Mayo Clinic, K Health team up to use AI for personalized hypertension treatment". Fierce Healthcare. Retrieved 26 July 2024.
  17. ^ "K Health Partners with Mayo Clinic for AI-Driven Cardiac Care Initiative". The Healthcare Technology Report. 10 January 2024. Retrieved 26 July 2024.
  18. ^ Gliadkovskaya, Anastassia (10 October 2023). "Cedars-Sinai, K Health launch AI-driven virtual care app for new, existing patients in CA". Fierce Healthcare. Retrieved 26 July 2024.
  19. ^ Coward, Kyle (25 August 2021). "Virtual Primary Care Provider Acquires Mental Health Platform Trusst". Behavioral Health Business. Retrieved 26 July 2024.
  20. ^ Landi, Heather (19 January 2021). "K Health secures major funding, launches new virtual pediatric service". Fierce Healthcare. Retrieved 26 July 2024.
  21. ^ Sotnik-Talisman, Jenny (3 August 2018). "Tech Scale-Ups In Israel Are On A Roll". Forbes. Retrieved 26 July 2024.
  22. ^ Tabatabai, Arman (17 December 2018). "K Health raises $25M for its AI-powered primary care platform". TechCrunch. Retrieved 26 July 2024.
  23. ^ Rubinstein, Carrie (9 December 2021). "Millions Of Americans Will Now Be Eligible For Superhero Healthcare". Forbes. Retrieved 26 July 2024.
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