Fastest-growing healthcare companies
Health is always at the front of our minds, but the pandemic experience really drove the importance of healthcare home for many. It also led to a surge in telemedicine, and tech startups have seized the opportunity. A lot of them put mental health at the forefront — an aspect often overlooked in the past — a welcome development for complete care. The technology changes, we find cures or at least treatments for some diseases and turn our attention to others. We won’t be able to live forever, but we keep finding treatments or surgeries to extend life. The challenges of the last years have led these organizations to be some of the fastest-growing healthcare companies.
The company is most famous for its monoclonal antibody Covid treatment, which then-President Trump received after being hospitalized with Covid-19 in October 2020. Regeneron also won the 2022 Prix Galien USA Award for “Best Biotechnology Product” for Inmazeb, a fixed-dose combination of monoclonal antibodies for the treatment of Ebola virus. In 2022, the company also got FDA and European Commission for Dupixent injections and took full ownership of Libtayo, a treatment for subcutaneous squamous cell carcinoma.
With a focus on developing novel medicines for rare diseases, Catalyst has carved out a niche among the fastest-growing healthcare companies. Its Firdapse treats Lambert-Eaton myasthenic syndrome (LEMS), an autoimmune disorder that weakens muscles. It also developed Ruzurgi, an essential treatment for children diagnosed with LEMS. Catalyst boasted a three-year growth rate of over 175% from 2020-22 and made the Forbes list of 100 fastest-growing companies. The company strives to continue finding treatments for rare diseases that in many cases have no therapeutic options.
The life sciences leader makes materials for the manufacture of biologic drugs. Its products include dialysis, chromatography, and both upstream and downstream filtration technologies. Repligen recently acquired FlexBiosys Inc. to enhance its fluid management offerings and has spent three years on the Forbes fastest-growing companies list. It’s been a challenging year for bioprocessing, but Repligen is optimistic about the end of the year and has “a growing pipeline of opportunities,” CEO Tony J. Hunt said on a second quarter earnings call.
Levels biosensors provide users with real-time information on their metabolic health, such as glucose levels, so they can see how changes in diet and lifestyle make an impact on their day-to-day health. Metabolic health plays a role in sleep, weight, and energy levels, and “Levels helps you optimize it all so you can live a longer, fuller, healthier life” the company says on its website. After a $38 million series A funding round in 2022, the biowearable maker hopes to expand internationally soon.
Real provides a unique approach to mental health on a subscription basis featuring on-demand therapist-created tools, conversations, and community stories. Recorded sessions have therapists offering advice on a variety of topics so users can listen on their time and find support for whatever they’re going through. Live virtual events connect the Real community (with anonymity) with the therapy team and topic experts to show that no one is going through their mental health journey alone.
The Oura Ring helped make the NBA bubble a success in 2020, and its in-depth measurements of things like calorie intake and steps taken while you’re awake along with respiratory rate and sleep quality help wearers know when something is off. Oura sold its 1 millionth ring in 2022 and also reached a valuation of more than $2.5 billion last year, a big milestone for one of the fastest-growing healthcare companies.
The kidney care pioneer also achieved a valuation of over $2.5 billion in 2022, thanks to its focus on improving quality of life while reducing cost for patients. Somatus’ approach combines data-driven insights with locally delivered education and support for patients and their families. The company also deploys in-home dialysis services along with dialysis centers. Last year, Somatus bought assets from healthcare AI platform Lumiata to enhance its predictive health models.
IntelyCare is one of the fastest-growing healthcare companies because its app matches nurses with healthcare organizations in an attempt to alleviate the growing nursing shortage, another product of the Covid era. It allows nursing professionals to set their own schedules to avoid burnout and helps hospitals and other medical facilities stabilize their workforces and provide better, more consistent care for their patients.
Billing itself as a digital clinic for joint and muscle pain, the app connects users to a clinical care team of physical therapists who provide virtual and in-home assessments and orthopedic surgeons who provide advice and coordinate care with in-person providers. Wearable sensors and computer vision keep users on track with their physical therapy routines, and the FDA-approved Enso device provides drug-free pain relief. Hing Health raised $1 billion in its series E funding.
Perhaps you’ve used the Headspace app for its meditation and mindfulness exercises. One of the fastest-growing healthcare companies, Headspace offers monthly and annual plans (both with free trials) and has hundreds of exercises in its library. “Your mind’s best friend” has partnered with companies around the country to offer their employees memberships as part of their benefits packages.