Sep 16, 2024

Meet the startups shaping the future of healthcare, from Miami to the world By Riley Kaminer Might South Florida be the next major hub for healthtech pioneers? We’re well on the way. Miami’s tech scene has a rapidly-growing group of startups aiming to address current healthcare challenges while also pioneering new technologies and models that promise to improve patient care and streamline healthcare delivery. So why does South Florida make sense for healthtech? Our region’s diverse population provides a rich base for clinical studies and a vast market for health-related products and services. Our healthcare infrastructure, anchored by the second-largest health district in the United States , offers a fertile ground for startups to develop and test new technologies. And South Florida’s strategic location as a gateway to Latin America and the Caribbean opens up significant opportunities for expansion into these markets. Indeed, recent reports by Startup Genome note that South Florida’s strength in life sciences and medtech is one of the reasons for the sharp rise in the Miami area’s rising global ranking as a tech hub. This article shines the spotlight on some of the key players driving this transformation, now more than a decade in the making. They are innovating in telemedicine solutions to biotech and robotics to advanced health data analytics and AI. Telemedicine and digital health platforms: Expanding access and efficiency The rise of telemedicine and digital health platforms has been one of the most significant trends in Miami’s healthtech scene, pioneered by MDLive, one of our early healthtech success stories founded in 2009 and acquired by Cigna in 2021 for about $1 billion. New players have continued to innovate in myriad ways. HealthSnap offers a comprehensive telemedicine platform that integrates patient health data with remote monitoring tools. This enables healthcare providers to deliver personalized care remotely, a feature that has become increasingly important in managing chronic conditions and reducing hospital readmissions. HealthSnap’s platform is designed to enhance patient engagement and improve overall healthcare outcomes. Under co-founder and CEO Samson Magid, HealthSnap raised a $25M Series B in February and has over 400 employees. HealthBird is another Miami-based startup making strides in the digital health arena. Co-founded by Ariel Dominguez and Irena Tigranyan, HealthBird’s platform simplifies the health insurance experience, making it more accessible for individuals and families. By offering a user-friendly interface that allows users to compare, purchase, and manage health insurance policies online, HealthBird is addressing a critical need for transparency and simplicity in the health insurance market. This focus on user-centric design and accessibility sets HealthBird apart in a crowded field. BeMe Health is another notable player, focusing on the mental health needs of teenagers and young adults. BeMe’s digital platform offers accessible mental health support, combining AI-powered tools with human-led interventions. This approach aims to reduce the stigma around mental health and make it easier for young people to get the help they need, fostering a proactive approach to mental well-being. Under co-founder and CEO Dr. Nicoletta Tessler, BeMe recently raised $12.5 million to expand its platform. BeMe Health Opción Yo is breaking new ground in the realm of mental health services tailored to the Hispanic community. This platform offers culturally sensitive mental health support, providing resources and connections to bilingual therapists who understand the unique challenges faced by Hispanic individuals. Led by co-founder Daniela Sichel, Opción Yo ensures that mental health care is both accessible and relevant to a broader population. Another standout in this space is Papa , the eldertech unicorn founded in 2017 that connects older adults and families with companions and caregivers through an easy-to-use digital platform. Papa’s “family on demand” service addresses the social determinants of health by providing companionship, transportation, and other support services that are crucial for the well-being of seniors. This innovative approach has earned Papa national recognition and significant investment, including a $150 million Series D round in 2021. “When unicorns are built around a specific category like healthtech, other people that want to start businesses look to Florida as like ‘wow, this is a place that you can do it’,” said Papa’s founder and CEO Andrew Parker, in an earlier interview with Refresh Miami. “I do believe Miami can be the epicenter of healthtech.” Streamlining healthcare operations: The role of AI and automation Automation and artificial intelligence are playing increasingly vital roles in improving the efficiency and effectiveness of healthcare operations. Osigu is a prime example of a Miami startup leveraging AI to transform revenue cycle management. By automating processes such as claims management, Osigu reduces administrative burdens for healthcare providers and insurers, leading to faster payments and improved cash flow. “I love this city, we’re very happy here,” Osigu founder and CEO Francisco Botrán said of having Osigu’s home base in Miami. “Our connectivity to Latin America and the presence of U.S. investors have been crucial to Osigu’s success. A lot of the things we achieved, I don’t know if we could have achieved if we were not here.” ModMed (Modernizing Medicine) of Boca Raton is revolutionizing healthcare with its specialty-specific electronic health record (EHR) systems. Founded in 2010 by Daniel Cane, ModMed’s EHR solutions are tailored to the unique needs of various medical specialties, from dermatology to orthopedics, offering features like automated billing, telehealth integration, and data analytics. The company’s focus on creating intuitive, efficient systems has made it a leader in the EHR space, helping healthcare providers deliver better care while reducing administrative complexity. Neotypica adds to this list by leveraging AI to improve diversity in clinical research. The company, founded this year by Edison Sabala and Vlada Kopric, focuses on identifying and recruiting under-represented groups, such as Black people, women, older adults, and various ethnic populations, to participate in drug trials and clinical studies. By using a combination of commercial data, proprietary data collection, and a large language model, Neotypica aims to make the recruitment process more efficient and inclusive. Innovations in biotech and robotics: Pushing the boundaries of medical research Biotechnology continues to be a major growth area in Miami’s healthtech ecosystem. EVQLV , led by Andrew Satz, is at the forefront of this movement, utilizing AI to accelerate the discovery and development of therapeutic antibodies. By simulating and optimizing the antibody design process, EVQLV dramatically reduces the time and cost associated with developing new treatments for diseases. This technology holds significant potential for advancing medical research and bringing new therapies to market faster. Another key player in South Florida’s biotech sector is HelixVM , a telehealth startup that connects patients directly with healthcare providers through its online platform, bypassing the need for primary care referrals or authorization. The startup uses a combination of proprietary software and artificial intelligence to match patient information with the most appropriate doctors. Patients can receive consultations, prescriptions, and treatment for various conditions, often without a video chat. HelixVM is focused on making healthcare more accessible and efficient by streamlining the process for both patients and providers. NAVIGANTIS , a standout in the neurovascular space, is focused on revolutionizing stroke care with its VASCO robotic platform. With a recently secured $12 million Series A financing round, NAVIGANTIS, led by Mor Dayan, is advancing the development of the VASCO robot toward first-in-human clinical trials. The platform aims to make neurovascular procedures, such as mechanical thrombectomy for stroke patients, more accessible, especially in areas with limited access to specialized care. This innovation not only enhances precision and patient outcomes but also addresses the critical need to reduce radiation exposure during these procedures. Neocis is revolutionizing dental surgery with its Yomi robotic system, the first and only FDA-cleared robotic platform for dental implant procedures. Yomi allows dentists to precisely plan surgeries and guides them during operations, leading to smaller incisions, less pain, and faster recoveries for patients. The platform has already seen significant impact, with Yomi having already assisted in 40,000 dental implants – a figure that has doubled in just over a year. Notably, the founder, Alon Mozes, was one of the first 20 employees of Mako Surgical, the homegrown innovator in medical robotics that was acquired by Stryker for $1.65 billion in 2013. Over the years, a “Mako Mafia” has spawned a handful of other successful South Florida medtech companies, including Orthosensor (also acquired by Stryker) and DermaSensor . Neocis’ Yomi robotic system for dental implant procedures Miami-based FloSpine is developing innovative spinal implants and surgical tools. Its technology is designed to improve surgical outcomes and enhance recovery times for patients undergoing spinal surgery, making a significant impact on the quality of life for those with spinal disorders. And Insightec , an Israeli company with its U.S. headquarters in Miami, is a leader in non-invasive surgery using focused ultrasound technology. Their flagship product, Exablate Neuro, has been a game-changer in treating conditions like essential tremor and Parkinson’s disease. By offering a non-invasive alternative to traditional surgery, Insightec is paving the way for safer, more effective treatments that can drastically improve patients’ quality of life. The company raised $150 million earlier this summer. “We’re starting to see from a computational standpoint that there’s going to be a need to understand diseases with the work around quantum and AI and life sciences and neurosciences,” Maurice R. Ferré, co-founder and CEO of Insightec, recently told Refresh Miami . “I think we have an opportunity to win in this community. We’re starting to see the pieces come together.” Insightec recently raised $150M to expand the therapeutic power of focused ultrasound. Health data analytics: The power of information The ability to analyze and leverage health data is transforming the healthcare industry, enabling more informed decision-making and personalized care. Fort Lauderdale-based MedSys Health leverages the power of remote patient monitoring to transform healthcare delivery, particularly for patients with chronic conditions. Through its virtual care platform, The company provides continuous health monitoring, enabling healthcare providers to access real-time data on patients’ vital signs, such as blood pressure and glucose levels, from the comfort of their homes. This technology aims to improve care management, reduces hospitalizations, and lowers medical costs. Meanwhile, Longevo , founded by Miami serial entrepreneur Andres Moreno , is empowering businesses in Latin America to build healthier, happier workforces through its innovative platform. Longevo addresses key challenges such as weight management, sleep difficulties, and high stress levels among employees. The company’s goal is to enhance self-esteem and reduce absenteeism in the workplace. Longevo takes a comprehensive approach to employee wellbeing, benefiting both individuals as well as improving overall productivity for businesses. And eldertech company CarePredict is making strides in improving the wellbeing of seniors both in living facilities and at home. Through its wearable devices and AI-powered software, Plantation-based CarePredict collects thousands of data points daily, analyzing subtle changes in behavior that could indicate emerging health issues such as infections, falls, or depression. For instance, the system can predict a urinary tract infection days in advance by monitoring bathroom habits, giving caregivers a crucial window to intervene before the situation escalates. CarePredict platform Pelvic health is an often overlooked yet crucial aspect of women’s health. Peli Health , co-founded by Kerstin Recker and Helen Grimshaw, addresses this gap by offering a comprehensive online platform focused on pelvic health education and support. Peli Health provides evidence-based education, tools, and expert care communication for women dealing with pelvic floor issues — all for just $10 per month to early-access users. The platform includes an “ask the expert” section, MD-approved content, symptom trackers, and a community chat where users can share resources and experiences. These startups are innovating within their respective niches while also contributing to a broader transformation in how healthcare is delivered and managed. As these companies continue to grow and innovate, Miami can solidify its reputation as a hub for healthtech, attracting talent, investment, and attention from across the industry. Nancy Dahlberg contributed to this report. READ MUCH MORE ABOUT MEDTECH IN REFRESH MIAMI: