An inaugural joint Galen/FINN study to be published this November in HLTH will enable investors and strategic partners to separate ‘Hype’ from hope to prioritize resources
The practical value of digital solutions to accelerate access to care and improve patient outcomes will be highlighted
NEW YORK, October 25, 2022 /PRNewswire/ — Galen Growth, the leading digital health data-driven market intelligence company, and FINN Partners, a global integrated marketing services agency, announced a joint effort to mine data and produce the first “Global State of Digital Health Report . ” The first report, drawing information from some 200M data points and more than 12,000 digital health initiatives around the world, will be released at November’s HLTH conference in Vegas, Nevada. The second report will be available at January 2023 at the JP Morgan Healthcare Conference in San Francisco, California, as part of the Future & Health event. Additional quarterly reports are expected next year.
With this partnership, experts from FINN’s Global Digital Health Group are working side-by-side with data from Galen Growth and researchers to map the complex and often fragmented digital health landscape; emerging market trends, areas of growth and innovation, and look beyond equity funding to explore what is expected to happen in this fast-growing digital health sector. The combined team will look beyond the “chimera” of digital to map out priority and actionable opportunities for decision makers.
Often, public reports tend to cherry-pick data. The Galen/FINN Global State of Digital Health Report shows verified trends, including:
- While 2022 digital health venture capital fell short of the skyrocketing 2021 figure, a closer look at Q1 to Q3 annual funding by stage of development reveals that 2022 capital inflows outpace 2021 figures .for the early stage and Series A funding rounds. It increasingly lagged in 2021 values in the later funding stages.
- More than 60% share of the total value of venture financing comes from North America. But at the regional level, Middle East set record amounts for venture funding in the second quarter of 2022. Europe maintains momentum in 2022 and has not experienced the quarter-on-quarter decline in venture funding seen in North America.
In the shadow of the pandemic, huge investments have poured into digital health. The digital health sector has grown significantly over the past decade, with 2 billion dollars invested in 2011 and 44 billion dollars in 2021 from global financial and corporate markets. But over the past year, investors have been more selective in their decisions. The Global State of Digital Health Report will examine these changes and outline best practices in investment strategies.
The first of two reports will set the stage for future reports summarizing the past year in digital health and will focus on global investment insights, categories and therapies, to name a few topics that have high potential to benefit from digital applications and Trends for 2023 Mr.
“With venture funding slowing in 2022, digital health is being anchored back to reality, becoming more focused and requiring more scrutiny of whether businesses are offering solutions that will bring value to the digital health ecosystem,” said Julien de Salaberry, CEO and co-founder of Galen Growth. “This joint report with FINN Partners will explore how businesses are addressing these challenges and preparing to show evidence to demonstrate the effectiveness of their solutions.”
“FINN Partners is excited to pair with Galen Growth to take a deeper look at the digital health landscape,” they said Ritesh Patel, Senior Partner, Global Digital Health Lead at FINN Partners. “The rapidly expanding digital health ecosystem must be leveraged to improve patient outcomes. This series of studies will help inform the choices that providers, payers, product innovators and patients will have to make in the coming years.”
FINN’s digital health leaders will provide their perspective, analysis and guidance to complement the data and insights developed by the Galen Growth team to help stakeholders navigate and engage with the global digital health landscape.
“The health care system has long been resistant to change. Health information – delivered through digital platforms – has changed the way patients are cared for and shifted the tone and expectations among decision makers navigating the fragmented healthcare ecosystem,” said Gil Bashe, Chairman of Global Health and Purpose, FINN Partners. “The Galen Growth/FINN partnership will offer sector insights – private and public – that we hope will attract investors and innovators to ideas that can sustain and save lives faster.”
About Galen Growth
Founded in 2016, Galen Growth partners with leading companies for their digital health market information and insight needs. With comprehensive data, empirical research and expert insights, the company helps global organizations reach the optimal solution for their business transformation, discover the latest trends in digital health and strengthen their innovative know-how. HealthTech Alpha, Galen Growth’s proprietary platform, is the world’s leading private marketplace digital health platform that empowers leaders and corporations to make digital health decisions.
Headquartered in Singapore, Galen Growth has offices in Basel (Switzerland), Boston and Chicago.
Please find us at galengrowth.com and follow us on Twitter at @galengrowth and https://www.linkedin.com/company/galen-growth/.
About FINN Partners, Inc.
Founded in 2011 on the core principles of innovation and collaborative partnership, FINN Partners has grown from approximately $24 million in fees to nearly $200 million in fees over the past 10 years, becoming one of the fastest growing independent public relations agencies. public in the world and recognized as PRvoke Media Agency of the Year 2022. The record pace of the full-service marketing and communications company is the result of organic growth and the integration of new companies and new people into the world of FINN through a common philosophy. With more than 1,300 professionals in 33 offices, FINN provides clients with global access and capabilities in the Americas, Europe and Asia. In addition, FINN provides its clients with access to top-tier agencies worldwide through its membership in the global PROI network.
Headquarters in new YorkFINN has offices in: Atlanta, Bangalore, Beijing, Boston, Chicago, Delhi, Denver, Detroit, Dublin, Fort Lauderdale, Frankfurt, Guam, Hong Kong, Honolulu, Jerusalem, Kuala Lumpur, London, The angels, Manila, Mumbai, Munich, Nashville, Orange County, Paris, Portland, San Diego, San Francisco, Seattle, Shanghai, Singapore, Vancouver and Washington Find us at finnpartners.com and follow us on Twitter and Instagram at @finnpartners.
FOR GALENO GROWTH:
Lawrence WertzManager, North America
[email protected]galengrowth.com or [email protected]
FOR FINN PARTNERS:
Celia JonesGlobal Director, Marketing Communications
+1 773 885 9781
SOURCE FINN Partners