The Top 100 Healthcare Technology Companies of 2022

The Healthcare Technology Report is pleased to announce The Top 100 Healthcare Technology Companies of 2022. The awardees on this year’s list represent the absolute best in the healthcare technology space. From companies like Novartis with more than 100,000 team members around the globe, to numerous smaller startups with just a few dozen employees in a single office, these companies are changing the face of the industry. They are leveraging their considerable talent to find innovative solutions to the most pressing issues in healthcare, and they are saving countless lives and extending healthspans in the process.

Some of this year’s awardees include Hologic, whose growth across breast and skeletal health, diagnostic solutions, and GYN surgical solutions is driven by the clinically proven ability of its products to detect, diagnose, and treat illnesses and other health conditions earlier and better; Integra LifeSciences, which offers a broad portfolio of products and solutions for dural access and repair, cerebral spinal fluid management, and neuro-critical care; and Axtria, whose best-in-class cloud-based analytics platforms have leveraged AI and machine learning to help life sciences operators make the most of their data for the benefit of their clients.

The top 100 companies this year represent a range of specialties, from genomics to pharmaceuticals, lab testing, therapeutics, data analysis, and much more. What they have in common is the impact they are having on patients’ lives, whether through direct treatment or by providing advanced, game-changing products and services to treatment providers. They are driving the industry forward and creating an environment in which better care for all is possible. Please join us in celebrating The Top 100 Healthcare Technology Companies of 2022.

 

1. Novartis
Category: Biotech

As one of the largest pharmaceutical companies in the world, Novartis has continued to break new ground in delivering innovative medical solutions to almost 1 billion people around the world. It employs approximately 125,000 individuals in its international offices and production facilities, most notably from its headquarters in Basel, Switzerland and Cambridge, Massachusetts.

Novartis was born out of the 1996 merger of Ciba-Geigy and Sandoz, and the new company quickly grew to push the boundaries of achievement in cancer-fighting drugs and other essential pharmaceutical products. The company has attracted a great deal of praise from industry and civil organizations for the benefits of its generic drugs, which have been praised by the Access to Medicine Index for widening access to medicine among underserved populations. Amid a difficult period for multinationals, Novartis has shown impressive growth in its major brands, and its continued developments in multiple sclerosis treatments have been met with international acclaim.

 

2. Stryker
Category: Medical Devices

Michigan-based medtech company Stryker is recognized as an industry leader in the field, designing and manufacturing devices used in hospitals and care facilities in more than 100 countries. Stryker’s main offerings are divided into the segments Orthopedics, MedSurg, and Neurotechnology and Spine, the latter of which has seen groundbreaking advances in recent years. Boasting more than 46,000 employees around the world, the company has posted a remarkable four decades of consistent growth over its lifetime, reporting over $17 billion in sales in 2021.

Founded as the Orthopedic Frame Company by Kalamazoo orthopedist Dr. Homer Stryker in 1941, the company has made a name for itself in its production of medical devices that quickly become indispensable for modern health care. Stryker has frequently been hailed as a forward-thinking workplace, having been named to Fortune’s list of the world’s best workplaces five years in a row. Most recently, it has made waves with the launch of its new Global Technology Center, a unique 150,000-square-foot R&D facility in New Delhi designed to supercharge the company’s capacity to develop new life-saving innovations.

 

3. Edwards Lifesciences
Category: Medical Devices

Edwards Lifesciences is the global leader in patient-focused medical innovations for structural heart disease and critical care monitoring. Driven by a passion to help patients, the company collaborates with the world’s leading clinicians and researchers to address unmet healthcare needs, working to improve patient outcomes and enhance lives. As the pioneer of many products considered industry standard, including the transcatheter aortic valve replacement, Edwards’ products are sold in approximately 100 countries around the world. Founded by engineer Miles “Lowell” Edwards in 1958, the company has 16,000 employees around the world with manufacturing operations in North America, Europe, Singapore, and the Caribbean.

The Edwards Lifesciences Foundation supported more than 250 global charities in 2021 and continued its work with Every Heartbeat Matters, the Foundation’s primary philanthropic initiative, to improve the lives of 2.5 million additional underserved structural heart and critical care patients by the end of 2025.

To advance social equity, Edwards established a Social Impact Investment Fund with $100 million to support economic development in predominantly Black and underserved communities in the U.S. When Edwards was established as a separate company from Baxter in 2000, the company was formed around a credo which serves as a reminder to always put patients first, and that as a company Edwards will remain committed to making a positive impact on the quality of life for patients around the world.

 

4. Centura Health
Category: Consumer HealthTech

Faith-based health care nonprofit Centura Health is known as a leader in high-quality health care services throughout Colorado and western Kansas. Its network of 17 hospitals and 6,000 physicians are responsible for delivering the best possible medical outcomes to traditionally underserved communities across the region. Centura traces its roots to a dedicated, compassionate order of Catholic sisters in 1882, and has pushed since its founding 25 years ago to deliver on that mission of building healthy people and communities.

As befits an organization that was founded on the value of altruistic service, Centura has developed a reputation as an invaluable supporter of local communities, launching initiatives to promote food security, mental and behavioral health, and rural community care. It has contributed a great deal of resources and attention to supporting community hospitals and rural communities in seven different countries, and recently issued a $5 million health equity and advancement grant to help regional organizations enhance health outcomes across the board.

 

5. Hologic
Category: Medical Devices

Headquartered in Marlborough, Massachusetts, Hologic and its team of more than 6,700 have created an innovative medical technology company whose purpose is to enable healthier lives everywhere, every day. While Hologic discovers and develops groundbreaking products and services that benefit everyone, they are especially passionate about those that advance women’s health and well-being, allowing the company to prosper and grow while empowering women to experience healthier lives.

None of this would be possible without the talent, skills, and aspirations of Hologic’s employees. Since its founding in 1985, the company has expanded to more than 100 countries and territories and holds more than 3,000 patents. Its employees’ expertise and dedication to developing and sharing more robust, science-based certainty drives Hologic’s increasingly global presence, as well as a pipeline that responds to the unmet health and wellness needs of women, families, and communities.

Hologic’s growth across breast and skeletal health, diagnostic solutions, and GYN surgical solutions is driven by the exceptional and clinically proven ability of its products to detect, diagnose, and treat illnesses and other health conditions earlier and better. This clinical superiority creates high expectations, which the team at Hologic fulfills by always challenging itself to improve health through better technology, education, and market access. The company’s goal is to minimize doubt and maximize the confidence its customers and their patients have in their decisions and diagnoses. By focusing on women’s health while still delivering health benefits to everyone, Hologic is setting a new standard of excellence that is strengthened by purpose, driven by passion, and brought to life by its promise of more certain early detection and better health outcomes.

 

6. Access Healthcare
Category: Software & Data

Access Healthcare provides business process outsourcing, applications services, and robotic process automation tools to hospitals, health systems, providers, payers, and related service providers. The company operates from 19 global delivery centers in the U.S., India, and the Philippines. Their 25,000+ staff is committed to bringing revenue cycle excellence to clients by leveraging technology, emerging best practices, and global delivery. Based in Dallas, Texas, the company supports more than 400,000 healthcare providers through 85+ clients, serving 80+ specialties, processing more than $70 billion in accounts receivable annually, and ascribing medical codes to more than 30 million charts annually.

With more than 3,500 virtual bots in operation, Access Healthcare’s proprietary robotic process automation platform helps its clients improve efficiency. Access Healthcare is HITRUST, PCI DSS, SOC, ISO 27001, and ISO 9001 certified, providing security, availability, and confidentiality of sensitive health information.

 

7. CitiusTech
Category: Software & Data

CitiusTech is a partner of choice to the world’s largest healthcare and life sciences organizations to accelerate digital innovation, drive business transformation, and enable industry-wide convergence. With more than 7,000+ healthcare technology professionals, CitiusTech provide strategic consulting, digital engineering, data, analytics & AI, specialized platforms, and end-to-end solutions to more than 130 organizations across the payer, provider, medtech, and life sciences industries.

CitiusTech’s cutting-edge technology expertise, deep healthcare domain expertise, and a strong focus on digital transformation enable organizations to deliver better outcomes, accelerate growth, drive efficiencies, and make a meaningful impact to patients, caregivers, and consumers. CitiusTech’s deep commitment to world-class quality and unwavering focus on delivery excellence and client satisfaction is evident in their customer satisfaction score of 4.5/5 and a Net Promoter Score (NPS) of over 70.

 

8. Integra LifeSciences
Category: MedTech

Integra LifeSciences is a global leader in neurosurgery and regenerative medicine. The company offers a broad portfolio of products and solutions for dural access and repair, cerebral spinal fluid management, and neuro-critical care. Its regenerative tissue technologies include products that address soft tissue, nerve, and tendon repairs and for the treatment of acute and chronic wounds, burns, as well as for plastic and reconstructive surgery.

Founded in 1989 by Richard E. Caruso, the company is headquartered in Princeton, New Jersey. Today, Integra LifeSciences has grown immensely, with more than 3,000 employees worldwide as well as offices, manufacturing, and research facilities in Asia, Australia, Europe, the Middle East, and the Americas. Integra products are ubiquitous in many hospital intensive care units and operating rooms around the world. And some of its leading brands include AmnioExcel®, Bactiseal®, CerebroFlo®, Certas® Plus, Codman®, CUSA®, DuraGen®, and DuraSeal®. In March, the company launched its newest product: NeuraGen® 3D Nerve Guide Matrix , a resorbable implant for the repair of peripheral nerve discontinuities.

 

9. Jazz Pharmaceuticals
Category: Biotech

Global biotech company Jazz Pharmaceuticals is a tireless pioneer in innovating medical treatments for serious ailments once thought uncurable, such as narcolepsy and schizophrenia. Among the company’s best-known products—all of which have provided relief to thousands around the world—are Vyxeos, Xywav, and Jazz’s crown jewel, narcolepsy medication Xyrem. For its efforts in the development of these innovative treatments, Jazz’s neuroscience and oncology divisions together posted revenues of $814 million in the first quarter of 2022, up more than a third from last year.

First launched in 2003 from Dublin, Ireland, Jazz has grown to expand its corporate presence and manufacturing to multiple sites in Europe and the Americas, and now employs more than 3,100 biotech experts to deliver on its promise of reimagining what is possible in medicine. Following its successful 2021 acquisition of GW Pharmaceuticals, it has pushed to expand its offerings in international markets while continuing to develop daring new treatments for multiple sclerosis and lymphoma.

 

10. Axtria
Category: Software & Data

Life sciences technology pioneer Axtria was built to harness the best in cutting-edge data science and cloud technology and use it to improve health outcomes around the world. The company is best known for its best-in-class cloud-based analytics platforms, DataMAx, SalesIQ, InsightsMAx, and CustomerIQ, which have leveraged AI and machine learning to help life sciences operators make the most of their data for the benefit of their clients.

The company was launched by data scientist and onetime Entrepreneur of the Year Jassi Chadha in 2010, and has since expanded to bring new products and services to healthcare providers in 75 countries and counting. In addition to its perpetual placement on Deloitte’s Fast 500 and Inc. 5000, Axtria has repeatedly been certified a Great Place to Work in both its Indian locations and its U.S. headquarters in Berkeley Heights, New Jersey. Reflective of the high esteem in which the company is held in the life sciences world, Axtria was recently invited to deliver the keynote address on the future of the pharmaceutical world at Reuters’ Pharma USA 2022 event.

 

11. Horizon Therapeutics
Category: Biotech

There may be no grander figure when it comes to the development of medicines for rare and rheumatic diseases than Irish biotech research company Horizon. Leading products such as Krystexxa, Duexis, and Rayos have brought comfort to and improved the lives of millions of individuals around the world who suffer from rare diseases such as gout, thyroid eye disease, and a variety of other inflammatory diseases. Horizon’s team of more than 2,000 strive to achieve the company’s mission from their headquarters in Dublin as well as its U.S. office in Lake Forest, Illinois.

In addition to its already significant work improving the health outcomes of rare disease patients, Horizon supports an impressive array of community outreach initiatives, working to advance STEAM education and environmental sustainability in partner sites around the world. For its labors in these noble fields, the CSR World Leader company was named one of People’s Companies That Care in 2021, and has received praise from the IBIO Institute and the Communitas Awards.

 

12. Leica Biosystems
Category: Biotech

A German cancer diagnostics company that has as its motto “Advancing Cancer Diagnostics, Improving Lives,” Leica Biosystems provides the world a unique comprehensive diagnostic portfolio built to help identify and beat cancer using the latest technology. Leica is a proud partner of the Mayo Clinic’s Department of Laboratory Medicine and Pathology, and it works to improve patient outcomes there with the development of new cytogenic imaging software products.

Founded in 1989, Leica has expanded out of its headquarters in Wetzlar, Germany to establish offices across the Americas, Europe, and Asia Pacific. Today, its products are used in more than 100 countries around the globe. Among the company’s latest developments in biotechnology are the exploration of innovative applications of artificial intelligence and machine learning in pathology. Further, with the introduction this year of Leica’s new advanced, fully automated staining platform BOND-PRIME, it has managed to improve user experience while achieving major revenue growth despite a difficult climate.

 

13. Modere
Category: Consumer HealthTech

First founded as an all-natural shampoo that delivered on the “natural ingredients” promise made and broken by so many competitors, Modere has grown to become a household name for science-backed clean label health and beauty products. Its omnichannel consumer products have been featured as standout offerings in personal care and nutrition among its more than 3 million customers, and have been shared on national platforms including Good Morning America, NPR, and Forbes.

Modere has accomplished a great deal since its founding 30 years ago. Led by Chief Executive Officer Asma Ishaq, the company was named the top woman-led company of the year in 2021 by the JPMorgan-backed Women Presidents’ Organization. Modere was also ranked the #1 fastest growing woman-led company by Forbes, and its state-of-the-art collagen sciences offerings have been hailed by industry voices for raising the bar for consumer applications of the latest health sciences.

 

14. Penumbra, Inc.
Category: Medical Devices

Penumbra, Inc. is a global healthcare company which designs, develops, manufactures, and markets innovative therapies to address complicated medical conditions in a novel way, supporting healthcare providers, hospitals, and clinics in more than 100 countries. Penumbra has redefined care across conditions that impact millions of Americans, including ischemic stroke, peripheral blood clots (clots throughout the body, such as pulmonary embolisms), and aneurysms with first-to-market minimally invasive interventional medical devices that have improved clinical outcomes. Penumbra recently expanded into immersive healthcare using virtual reality to inspire and empower potentially millions of patients to engage and challenge themselves more fully in their physical and cognitive rehabilitation and mental wellness.

As a global market leader that continues to experience double-digit revenue growth year-over-year, Penumbra is committed to advancing innovations that address unmet needs and help as many people as it can with its technologies.

 

15. Practo
Category: Software & Data

Practo is an Indian healthcare platform renowned for breaking down the barriers between patients and doctors with its signature all-in-one consumer healthcare software. By using Practo’s video conferencing platform, the company empowers more than one billion Indian people to take charge of their health and make more informed care decisions for their loved ones. Other Practo services include Ray, a practice management software used by thousands of clinics in the country, and Insta, a standout full-stack HIMS solution trusted in more than twenty markets around the world.

Founded in Bangalore and still headquartered there, Practo has a longstanding commitment to privacy and equity that has connected patients and doctors since its establishment in 2008. In remarkable expansions of this mission to traditionally underserved populations, the company added online consultation functionality in 15 vernacular languages at the height of the COVID-19 pandemic, and the launch of a digital veterinary consult option in 2021 has brought Practo’s game-changing technology into yet another critical market segment.

 

16. Tempus
Category: Biotech

With a stated mission of bringing the frontiers of technology to the world of medicine, Chicago-based biotech research company Tempus is leveraging an incredible data library to apply AI to the establishment of a new era of precision medicine. Tempus’ offerings empower healthcare partners to more efficiently diagnose patients and model the effectiveness of treatments, and its clinical trial matching capabilities have helped more than 10,000 patients since its founding in 2015.

Tempus is empowered to make use of its greater than 50 petabytes of data thanks to its partnerships with prominent figures across the biotech research world, including 120 biopharma companies and more than half of all academic medical centers in the U.S. As a recognized innovation driver in the industry, the company has announced recent advances in machine learning-based genomic testing, and has presented dozens of papers at this year’s meetings of the American Association for Cancer Research and the American Society of Clinical Oncology.

 

17. Verily
Category: Biotech

Alphabet’s life science research organization, Verily is dedicated to using the power of data to change how healthcare is managed and delivered. Among the solutions provided by Verily are its evidence generation services, care delivery, and care management, as well as its joint ventures in precision risk management, addiction recovery, and other cutting-edge areas. With new partnerships announced with Lumea and Highmark Health, it is continuing to play an active role in some of the latest developments in health tech.

Verily began as a division of Google X until its transition to an independent subsidiary in 2015. Since then, the company has engaged in a series of expansions that have vastly boosted its profile in the health science research industry, including a remarkable $1 billion fundraise in 2019 and the sale of its robot-assisted surgery venture Verb Surgical. In 2020, the company announced its entry into the insurance market with the launch of a Re Group-backed insurance subsidiary called Coefficient Insurance Company.

 

18. Carbon Health
Category: Consumer HealthTech

In a world in which accessing healthcare seems to become more and more difficult and time-consuming for the average consumer, Carbon Health strives to use smart tech to provide a seamless relationship between patient and provider. From its home base in San Francisco, Carbon Health’s platform enables individuals across the country to make virtual or in-person appointments with their primary care provider, urgent care provider, or mental or behavioral health specialist. It has also risen to the challenge of the pandemic era by offering expanded services for diabetes care, LGBTQ and women’s health, and COVID care programs for employers.

Carbon Health was started in 2015 by immigrant entrepreneurs Eren Bali and Caesar Djavaherian, who saw a gap in the U.S. healthcare system and devised a means to use technology to remove boundaries to care. Having perfected the telemedicine niche at a critical moment of need, the Co-Founders and Chief Executive Officers have steered their company to a $3 billion valuation in just six years, and have continued to change the game in how doctors and patients alike use technology for the care they need.

 

19. Global Healthcare Exchange (GHX)
Category: Software & Data

Founded in 2000 in Louisville, Colorado, GHX is a software-as-a-service company that is reducing the cost of doing business in healthcare by automating supply chain processes and improving visibility into the products used in patient care. The GHX Global Network, the world’s largest community of healthcare trading partners, connects supply chain, finance, and clinical professionals with their suppliers, and the cloud-based technology makes it easier for customers to drive costs out of the healthcare supply chain. Since 2010, GHX has saved the healthcare industry more than $5 billion. Today, the company is expanding its solutions to further enhance data management and allow integration of clinical and business systems.

The focus of GHX is on the healthcare supply chain, through which hospitals and their suppliers buy and deliver the thousands of medical-surgical supplies that clinicians need to effectively care for patients. At the heart of GHX is the GHX Exchange, a platform that connects healthcare providers and suppliers so they can work together electronically. This helps lower costs and simplifies supply chain management by eliminating error-prone, manual order processes. GHX is known for operating the largest healthcare trading network in the U.S., representing more than 80% of licensed beds in the country, with more than 85% of med-surg products flowing through the platform.

 

20. TELUS Health
Category: Software & Data

Digital health technology and services provider TELUS Health is the power behind the digital health ecosystem used by 130,000 physicians to treat millions of patients across Canada. From its headquarters in Montreal and its offices throughout the nation, it electronically processes 130 million health insurance claims annually. The company also works to help employers optimize their health insurance packages for their workforces, and its round-the-clock Virtual Care platform directly links people who need healthcare to the appropriate providers.

TELUS Health is a division of Canadian multinational Telus Corporation, a company that has grown over three decades to lead the charge in telecommunications, agriculture, security, and health sciences. TELUS Health has long worked to achieve considerable social good with its corporate activities, recently helping two million Canadians gain access to their own digital health records and opening a mental health clinic in Montreal to better support the community.

 

21. Tandem Diabetes Care
Category: Medical Devices

Tandem Diabetes Care is a medical device company that has become synonymous with quality, reliable care for diabetes sufferers the world over. Tandem is responsible for the development and production of the t:slim X2 insulin pump with Control-IQ technology, one of the most trusted names in user-friendly digitally enabled insulin pumps for individuals with Type I diabetes.

From its head office in San Diego, Tandem has long characterized itself as a “positively different” pump manufacturer, working with users to make sure their products are perfectly configured to meet their unique needs. The company has continued to push the envelope when it comes to insulin management, developing new and better device software while leveraging user data to drive new insights into diabetes treatment. Ongoing research has confirmed optimal health outcomes among t:slim X2 users the world over, and with the recent acquisition of insulin set developer Capillary Biomedical, Tandem is preparing to carry their tradition of innovation and service into the future.

 

22. Cue Health
Category: Biotech

Out of the many hero companies that arose to help the world meet the challenge of the COVID-19 pandemic, one of the inarguable standouts was California biotech research company Cue Health. In a move that transformed Cue into a household name virtually overnight, the company’s interdisciplinary team of 1,200 medical professionals was the first to produce an at-home molecular diagnostic test for COVID, and its approval by the FDA for over-the-counter use brought the benefits of Cue’s remarkable achievement to millions of beleaguered Americans.

Cue Health has expanded well beyond its 2010 origins, growing to encompass five state-of-the-art buildings at its San Diego headquarters, where its tests and other products are designed, tested, and manufactured. Among the organizations that have come to rely on their partnership with Cue are ConocoPhillips, Johnson & Johnson, and a variety of national sports leagues. The fruits of the company’s mammoth achievement included a striking $3 billion valuation last year.

 

23. Certara
Category: Software & Data

Certara accelerates medicines using proprietary biosimulation software, technology, and services to transform traditional drug discovery and development. As a global leader in biosimulation, Certara serves more than 2,000 biopharmaceutical companies, academic institutions, and regulatory agencies across 62 countries.

Seventeen global regulatory agencies, including the U.S. FDA, Japan’s Pharmaceuticals and Medical Devices Agency, and China’s National Medical Products Administration, have adopted Certara’s Phoenix™ PK/PD software and/or Simcyp™ PBPK Simulator. The Company’s COVID-19 Vaccine Model received both an R&D 100 Award and Edison Award in the past year. In October 2021, Certara acquired Pinnacle 21, a leading provider of SaaS solutions for clinical data fitness, regulatory compliance, and submission readiness.

With its software and global team of nearly 1,200 employees, Certara advances confident decision-making throughout the biopharma R&D lifecycle to help reduce time, lower cost, and improve outcomes for patients. The company’s customers who use its software and services have received over 90% of new drug approvals by the FDA since 2014, excluding diagnostics.

 

24. Thrive Global
Category: Enterprise HealthTech

Thrive Global, a leading behavior change technology company was founded by Arianna Huffington in 2016 with the mission to end the stress and burnout epidemic. Thrive helps individuals and organizations improve well-being, performance and mental resilience with its AI-powered behavior change technology platform. Thrive’s Microsteps – small, science-backed steps to improve health and productivity – have been adopted by employees at more than 125 organizations in over 140 countries, from frontline and call center workers to executives at multinational companies.

Shortly after its launch, Huffington’s leadership carried the company to lists of top startups by Inc. and LinkedIn, and in 2021 it was placed on Forbes’ “America’s Best Startup Employers” list. For its ability to deliver on the lofty goal of promoting human health, Thrive Global has attracted a great deal of attention from investors, most recently earning an $80 million round of Series C funding in the summer of 2021.

 

25. Organogenesis
Category: Biotech

One of the rising stars in the field of regenerative medicine, Massachusetts-based biotech research company Organogenesis boasts a robust portfolio of wound care and healing products. Among its many achievements in medical research are its contributions to the world of surgical and sports medicine, with product lines specifically tailored to reversing musculoskeletal injuries and degenerative conditions alike.

Initially spun off from technology developed at MIT in 1985, Organogenesis got started with the release of Apligraf, its first-of-its-kind living cell-based product that is still approved by the FDA for the treatment of foot and leg ulcers. The company has gone on to release other groundbreaking product lines, including Dermagraft and PuraPly, giving new hope to acute and chronic leg wound sufferers and the health practitioners who help them. Following its acquisition of NuTech Medical in 2017, Organogenesis has seen soaring stock prices that have continued despite market turmoil, leading to its designation as one of the highest growth companies in Massachusetts in March 2022.

 

26. Alto Pharmacy
Category: Consumer HealthTech

Alto is transforming a $500 billion industry by unlocking potential at every step of the prescription process. From the software in the doctor’s office, through benefits and price investigation, to hand-delivery to people’s homes and ongoing patient support, Alto’s platform delivers a level of value and care far beyond people’s expectations of traditional retail or digital pharmacies.

Alto Pharmacy was started in 2015 by two Facebook engineers, Jamie Karraker and Mattieu Gamache-Asselin, who were frustrated with the existing pharmacy experience, how bad it was, and especially how little technology was being used within these systems. The San Francisco-based company began in the storage closet of a small independent pharmacy.

As of 2022, Alto has increased its reach to 13 markets, grown revenue to almost a billion dollars, and launched shopping for over-the-counter medications on their app. They also announced a new CEO joining September 1, Alicia Boler Davis. She joins Alto from Amazon, where she led global customer fulfillment, Amazon’s largest team, and previously General Motors, where she led global manufacturing, among many other teams. Alto has raised a total of $550 million from investors like Softbank Vision Fund, Greenoaks Capital, Jackson Square Ventures, and Olive Tree Capital.

 

27. Ascom
Category: Software & Data

Ascom is a global solutions provider focused on healthcare collaboration and communications solutions. The vision of Ascom is to close digital information gaps allowing for the best possible decisions—anytime and anywhere. Ascom’s mission is to provide mission-critical, real-time solutions for highly mobile, ad hoc, and time-sensitive environments. Ascom uses its unique solutions portfolio and software architecture capabilities to devise collaboration and mobilization solutions that provide truly smooth, complete, and efficient workflows for healthcare as well as for industry and retail sectors.

Ascom is headquartered in Baar, Switzerland, has operating businesses in 18 countries, and employs around 1,300 people worldwide. Ascom registered shares (ASCN) are listed on the SIX Swiss Exchange in Zurich.

 

28. DispatchHealth
Category: Consumer HealthTech

On track to generate more than $2 billion in medical cost savings by 2023, DispatchHealth is pioneering an industry-wide shift in where healthcare is delivered, putting the well-being of patients at the forefront. By proving the viability of delivering the power of a hospital to patients at home and high-quality outcomes met with unprecedented patient satisfaction, the organization is bringing tech-enabled home-based medical care to the next level and moving the industry forward.

Founded in 2013, DispatchHealth is the first to apply fully integrated 21st-century technology to the age-old concept of medical house calls and the first platform of its kind to create a sustainable reimbursement model for high acuity care widely recognized by insurance companies. As a result, they’re transforming the facility-based care model and solving many hurdles to in-home care, including on-demand logistics that deliver providers and equipment quickly. Furthermore, as a founding member of the Moving Health Home coalition, DispatchHealth is working to fundamentally change how policymakers think about the home as a site of clinical service so that more organizations can adopt similar strategies.

In March 2021, DispatchHealth solidified its healthtech unicorn status, with $200 million in Series D financing and a valuation of over $1.7 billion. The healthcare provider currently operates in 34 states with 60 distinct markets, including mobile diagnostics, and demand for a complete system of care in the home continues to climb. DispatchHealth is partnered with industry powerhouses to expand access to exceptional healthcare to as many people as possible––and they’re just getting started.

 

29. Weave
Category: Software & Data

Weave is the all-in-one customer communications and engagement platform for small business. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with, and engage customers to grow their business.

The first Utah company to join Y Combinator, Weave has set the bar for Utah startup achievement and work culture. In the past year, Weave has been included in the Forbes Cloud 100, Inc. 5000 fastest-growing companies in America, and was certified as a Great Place to Work.

 

30. Ro
Category: Consumer HealthTech

A leader in the development and advancement of at-home, direct-to-patient healthcare solutions, New York telehealth company Ro has long been dedicated to breaking down barriers between people and providers. Ro features a vertically integrated platform that empowers individuals to follow a complete path to total health, from diagnosis to treatment, all while avoiding the expensive and difficult ins and outs of dealing with health insurance. The company has facilitated over eight million telehealth visits, helping individuals living in underserved areas get treatment in mental health, sexual health, and general health issues.

From the moment of its founding under the name Roman in 2017, Ro has raised several brisk rounds of investor funding that have allowed it to grow its product line rapidly and build a dedicated customer base. Though it got its start as a discreet, simple method of treating ED, Ro built itself into a provider of whole health solutions, garnering praise for its offerings in smoking cessation, women’s health, and most recently, at-home COVID testing.

 

31. Merative
Category: Software & Data

Merative is an Ann Arbor, Michigan-based data and analytics company that partners with healthcare professionals and organizations to facilitate better decision-making and health outcomes through data technology. While its contributions to health data are manifold, some of its most impactful solutions have been its services in clinical development, enterprise imaging, healthcare analytics, and clinical decision support rooted in real-world insights.

Although Merative has only been a standalone company working with Francisco Partners as of 2022, it carried out its mission of driving progress in health under the name IBM Watson Health since 1973. Over its nearly fifty years of IT and healthcare data development, the company has time and again revolutionized how information is used to improve the health of people and organizations, designing its cutting-edge database Micromedex in its first year of business and constantly improving it by integrating the latest developments in AI.

 

32. Komodo Health
Category: Software & Data

Billing itself as the future of healthcare intelligence, San Francisco software development company Komodo Health is the organization behind the eponymous Platform and Healthcare Map that is changing the game for patient care with data-driven insights. Working with providers in more than fifty health fields, the comprehensive Healthcare Map reduces siloing and biases in critical areas across the country, boosting outcomes for life science research programs, patient advocacy, and healthcare practitioner needs.

Komodo Health began its story in 2014, swiftly launching its Aperture MVP program and opening offices on both coasts. More recently, 2021 was a momentous year for Komodo, with the acquisition of both Mavens and Breakaway Partners as well as continuing development of its game-changing technology solutions, which earned the company a spot on Forbes’ 2022 list of AI companies shaping the future. With new software initiatives Iris and Sentinel launching, as well as a massive hiring blitz that more than doubled its workforce, Komodo is going all in on its mission of reducing the burden of disease for the entire world.

 

33. Zynex
Category: Medical Devices

Zynex, Inc. is an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring. The company operates through two divisions: Zynex Medical and Zynex Monitoring Solutions.

Zynex Medical is focused on providing alternative pain management devices to patients across the nation. These pain management devices are electrotherapy, bracing, hot/cold therapy, and cervical traction. These devices are primarily used in rehabilitation or orthopedic settings, helping patients recover from chronic or acute pain. Zynex Monitoring Solutions is focused on developing non-invasive fluid, sepsis, and laser-based pulse oximetry monitoring systems for use in hospitals.

Zynex Inc. was founded by Thomas Sandgaard in 1996 and saw its first product cleared by the FDA in 1998. Zynex Monitoring Solutions was founded in 2010 and had its first device cleared in 2020. Zynex is located in Englewood, Colorado. From 2018 through 2021, its gross revenue has grown 308%.

 

34. Tebra
Category: Software & Data

In 2021, with a combined mission to unlock better healthcare, Kareo and PatientPop joined forces to form Tebra—the operating system for the connected practice of the future. With an all-in-one, purpose-built platform to drive practice success and modernize every step of the patient journey, Tebra provides digital tools and support to attract new patients, deliver modern care, get paid quickly, and operate efficiently.

Tebra is helping practices thrive with solutions for practice operations and practice growth across Kareo and PatientPop. Together, they become the complete operating system for practice success. The company’s all-in-one platform includes a fully certified Electronic Health Record (EHR), scheduling, insurance billing, patient payments, telehealth, and more.

 

35. Telstar
Category: Biotech

Engineering and development company Telstar performs many essential functions across the world of healthcare. In addition to its central focus on designing and implementing technical marvels across the life and health sciences sector, it develops critical process solutions for laboratory equipment, vacuum technology products, and equipment solutions for hospitals the world over. It is perhaps best known for its turnkey engineering projects for process facilities, providing end-to-end guidance for major life sciences projects.

Telstar has been a major technology partner working within the pharmaceutical industry for over five decades. A subsidiary of Japanese automation group Azbil, it is at the forefront of its parent company’s life science engineering business, working with businesses across the international life sciences markets to deliver the latest technological achievements to advancing human health. This year, in addition to its numerous breakthroughs in microbiological and storage technology, Telstar launched a global campaign to help the company better meet future challenges, and its presentation at the 2022 ISPE Annual Meeting centered on how green engineering can be promoted throughout the pharmaceutical production industry.

 

36. MedGenome
Category: Biotech

There may be no more powerful discipline for achieving greater outcomes in healthcare than genetic research, and that’s exactly what Delaware company MedGenome is all about. A towering figure in the world of genomics, it has leveraged its team’s medical and technological expertise to become one of the leaders in bringing truly personalized medicine to life, unlocking new solutions for cardiology, immune-oncology, ophthalmology, and rare disease treatment. The company’s Next Generation Sequencing facility provides one-of-a-kind insights into the use of epigenetics, CRISPR, and spatial transcriptomics.

MedGenome has been bringing about the future of genomic medicine since it was started in 2013. Having been awarded the coveted MedTech Breakthrough award for its biomedical research in 2018, it has gone on to forge partnerships with 500 hospitals in India and launch the GenomeAsia 100K project to better understand the genetic resources and diversity of our world.

 

37. Wellspect Healthcare
Category: Medical Devices

Wellspect HealthCare, a Swedish medical equipment manufacturer, is a forward-thinking and people-centered creator of critical devices for maintaining healthy bladder and bowel continence. Its most popular devices include the LoFric and Navina product lines, and these and other offerings are made and improved by its team of 1,000 working in 18 different countries.

Based in Mölndal, Sweden, Wellspect has long been raising the bar for the development and manufacture of personal medical equipment trusted by users around the world. It was established as a hospital wholesaler business called AB Sjukvårdsutensilier in 1948, and after a period of ownership by Swedish Astra Tech, the company has gone on to become the most trusted name in bladder and bowel products for thirty years. This year, in line with the company’s deeply held values related to ecological sustainability, the long-celebrated LoFric product was recognized for its environmentally friendly production and life cycle with the Nordic Swan eco-label, the first ever granted to such a product.

 

38. Somatus
Category: Biotech

The undisputed market leader in kidney treatment products is Somatus, the Virginia-based company dedicated to creating a world in which no one will ever need dialysis again. Utilizing the latest in nephrological tech and vertically integrated clinical services, the company partners with health systems, insurers, and primary care providers to detect kidney disease and treat it as quickly and effectively as possible.

Launched as the first dedicated provider of value-based kidney disease care in the United States, Somatus was started by doctor and entrepreneur Dr. Ikenna Okezie. The company has met recent financial market tribulations with aplomb, and despite ongoing supply chain difficulties it has gone on to approach a projected $1 billion valuation this year. This milestone is likely to be reached thanks to assertive expansion of its partner network, announcing value-based kidney coverage offerings to partners in Tennessee and other national markets.

 

39. Sophia Genetics
Category: Software & Data

The masterminds behind global data-sharing network and cloud-based Software-as-a-Service platform SOPHiA DDM, biotech research company Sophia Genetics is widely seen as the central figure in data analysis and application in the healthcare world. The company’s network is used by nearly 800 healthcare organizations and research institutions in 70 countries to generate robust data insights used to guide new advances in treatment for cancer, genetic disorders, and pediatric medicine.

Unsurprisingly for a company with such high ambitions, Sophia has garnered an impressive share of plaudits from voices across the industry—among other honors, it was named one of the world’s 50 smartest companies by The MIT Technology Review in 2017. With industry recognition has come financial success: Sophia’s 2021 IPO led to a valuation in excess of $1 billion, and the company’s announced partnerships with BGI Group and Hitachi point to further boundary-breaking work in genomics and data science.

 

40. Flo Health
Category: Consumer HealthTech

Flo Health is the company behind the celebrated app of the same name, the female health program that is most recommended by OB-GYNs and is used by more than 230 million women around the world. Flo has harnessed the power of AI to develop and refine their signature offering in order to deliver personalized medical insights into issues traditionally underserved by mainstream medical professionals such as menstruation, conception, pregnancy, and menopause.

The company’s groundbreaking service and business model have generated no shortage of hype from users, providers, and investors alike, closing several successive multimillion-dollar fundraising rounds and exceeding $100 million in annual revenue by the end of 2021. Flo has grown and expanded greatly since its inception in 2015, adding a variety of celebrated features, including an algorithmic self-assessment tool and a digital community space for users. Among the many accolades it has accumulated for its popular namesake are its CES 2019 Innovation Award and a Silver Honor designation at the 2018 Digital Health Awards.

 

41. H1
Category: Software & Data

With biotechnology researchers the world over continually breaking new ground in how to improve and extend human life, it’s an unfortunate truth that some developments are not always accessible to those who need it most. This is the problem that consumes New York software developer H1, and its H1 Connect product suite is designed to democratize access to life sciences insights for providers and researchers alike. Through H1 Connect as well as solutions like HCP Universe and Carevoyance, partners have successfully increased healthcare access and quality for millions around the world.

Founded in 2017, the company can now boast established partnerships with 50% of the world’s top global pharma accounts, five global offices, and an incredibly diverse user base residing in 84 countries. Its efforts to support equitable research and improve customer health outcomes have earned H1 a 2022 valuation of $773 million, having raised a total of $170 million in investments since its establishment.

 

42. Intra-Cellular Therapies
Category: Biotech

Widely recognized as pioneers in the development of neurodegenerative and neuropsychiatric treatments, biopharmaceutical company Intra-Cellular Therapy bases its offerings on Nobel Prize-winning research on the intracellular world. Pharmaceutical products created by Intra-Cellular Therapy have brought new hope to individuals suffering from conditions including schizophrenia, Alzheimer’s disease, Parkinson’s, and bipolar disorder. The company’s treatment for the latter condition, which affects nearly 11 million adults in the U.S., remains the first and only treatment approved by the FDA to treat bipolar depressive episodes.

Based in New York City, Intra-Cellular Therapies was founded by the three doctors whose research contributed to its first breakthroughs in psychiatric medicine. Amid further FDA approval for bipolar depression of its popular CAPLYTA product, the company has seen its stock rise in a major way as the world’s attention continues to turn to the ongoing mental health crisis. Further research by the company has led to the development of new drugs with the potential to treat opioid use disorder, heart failure, and depressive disorders. Further research by the company has led to the development of new drugs with the potential to treat opioid use disorder, heart failure, and depressive disorders.

 

43. Augmedix
Category: Software & Data

One of the most important names in medical data services is Augmedix, a San Francisco-based company that aims to humanize the medical industry. At the heart of the company’s business is the revolutionary Ambient Automation Platform, a powerful AI-driven data services platform that expedites the communication of medical documentation among primary providers, specialist clinics, emergency departments, and large-scale healthcare systems. This platform utilizes HIPAA-compliant technology, natural language processing, automated speech recognition, and machine learning to provide real-time communication of complex data.

From its establishment in 2012, Augmedix has grown to employ more than 1,000 medtech experts. Its client base is made up of 15 major health systems, together representing 10% of all clinicians in the country. The company held an impressive IPO on the Nasdaq last year after raising more than $100 million in VC funding, likely fueled by its ongoing development partnership with Google for advanced documentation technology.

 

44. DentalMonitoring
Category: Software & Data

In a field as rooted in the tangible world as dentistry, French IT services provider DentalMonitoring has built a brand-new digital ecosystem. The Paris-based company is still the only provider in the world of AI-based remote monitoring of orthodontic appliances, and its proprietary program has built the largest visual orthodontic database in the world while alerting dental professionals to a wide variety of oral events.

The story of how DentalMonitoring changed the landscape of digital dentistry is one characterized by breakthroughs and rapid successes. After being founded in 2014 by veterans of the industry who sought a better way to design and manage orthodontic and dental devices, the company DentalMind launched its major platform as well as at-home scanning device ScanBox and advanced simulator program Vision. Last year, the company announced that it was the first dental software company in history to reach a $1 billion valuation following a $150 million round of growth financing.

 

45. Meditab
Category: Software & Data

Meditab is a leading software solutions provider that develops technology to address all aspects of the healthcare industry. The company’s award-winning electronic health records (EHR) platform, Intelligent Medical Software (IMS), combines EHR, practice management, billing, mobile apps, and office management into one cohesive system.

The Patel family founded Meditab in 1998 after experiencing first-hand the frustrations of using inadequate software in their family’s pharmacy. IMS was created with providers’ specific needs in mind, and by 2003, the company launched Intelligent Pharmacy Software (IPS) to extend its reach to pharmacies. Since then, Meditab has become a pioneer in clinic software, servicing more than 41,000 healthcare professionals and more than 10,000 providers. IMS has adapted its system to more than 40 medical specialties, including the AllergyEHR, FertilityEHR, OphthalmologyEHR, and CosmetiSuite brands.

Over the past 20+ years, Meditab’s technology capabilities have expanded to mobile functionality, telemedicine, and a suite of EHR-integrated office management tools called the Electronic Medical Office (EMO). Meditab continually works to achieve innovation, convenience, and efficiency in order to help Providers stay at the forefront of their patient care.

 

46. Immunocore
Category: Biotech

Immunocore is an industry standout in researching and developing biological therapies connected to the body’s T cell receptors. The immense practical applications of Immunocore’s research lie in oncology, and its program pipeline has turned out numerous advances in treatment over the last decade. With major industry partners including GlaxoSmithKline, AstraZeneca, and the Gates Foundation, the company is positioned to redefine how the world treats patients with cancer and infectious diseases.

Headquartered in Oxfordshire, England with offices in Pennsylvania and Maryland, Immunocore traces its history to its founding in 2008 as a spinoff of MediGene, and previously to T cell receptor technology developed by Dr. Bent Jakobsen at Oxford University in 1999. Although all of the company’s developments hold great potential for saving and improving human life at a tremendous scale, the initial testing of a new protocol for treating HIV has shown great promise, and that as well as other successes have spiked its stock to a new high.

 

47. Roivant Sciences
Category: Biotech

Sometimes the biomedical research that attracts the most attention from investors is disconnected from the greatest areas of societal need; for that reason, Roivant Sciences is dedicated to getting innovative treatment methods to the patients that need them. It is able to accomplish this goal by establishing subsidiary biotechnology and healthcare companies known as Vants, nimble entities that are able to quickly develop and deploy the latest breakthroughs to treat conditions such as Parkinson’s, diabetes, hypertension, and endometriosis.

Roivant was founded by Vivek Ramaswamy in 2014 with an eye toward incentivizing rapid deployment, and has successfully developed more than 40 critical drugs among its subsidiary divisions. Currently under development is a topical dermatitis medication by Dermavant, a biologic treatment for thyroid eye disease by Immunovant, and a solid tumor biologic by Affivant. The company was launched to great acclaim on the Nasdaq in late 2021 following a merger with Montes Archimedes Acquisition Corporation.

 

48. 98point6
Category: Consumer HealthTech

The synthesis of practical medical expertise and deep technology has manifested in the labors of 98point6, a Seattle healthcare technology company that matches patients with physicians for convenient, at-home diagnosis and treatment services. Its namesake platform addresses the widespread lack of access to or engagement with health, widely agreed to be a major societal problem, using an intuitive mobile app to help people get the treatment they need no matter where they are and what prices they can afford.

98point6 was founded in 2015, and has quickly built a reputation for harnessing AI and machine learning to remove barriers to medical care while improving outcomes for patients. By 2022, the company has built relationships with more than 3 million patients in all 50 states, and having recently appointed a new Chief Executive Officer, Dr. Brad Younggren, it classifies itself as being in “growth mode” despite an increasingly tough playing field for biotech startups.

 

49. Seven Bridges
Category: Software & Data

Seven Bridges enables researchers to extract meaningful insights from genomic and phenotypic data in order to advance precision medicine. The Seven Bridges Ecosystem consists of a compliant analytic platform, intelligently curated content, transformative algorithms, unprecedented access to federated data sets, and expert on-demand professional services.

This holistic approach to bioinformatics is enabling researchers—at the world’s leading academic, biotechnology, clinical diagnostic, government, and pharmaceutical entities and medical centers—to increase R&D efficiency, enhance the hypothesis resolution process, isolate critical biomarkers, and even turn a failing clinical trial around while also reducing computational workflow times and data storage costs.

 

50. ExactCare Pharmacy
Category: Consumer HealthTech

National medication management and pharmacy provider ExactCare Pharmacy is responsible for getting people the life-saving treatments they need in a reliable and efficient manner. As a subsidiary of major pharmacy care company CarepathRx, it enjoys a network of pharmacies and industry regulatory bodies in every part of the U.S. ExactCare not only facilitates the sourcing of pharmaceuticals for individual consumers, it provides end-to-end help with those medications and support for partnered doctors, hospitals, and other providers.

ExactCare has its origins in 2009, when its Founder and current Chief Executive Officer Dale M. Wollschleger, a registered pharmacist and award-winning entrepreneur, set out with a goal to simplify the often complex process of managing multiple medications for patients. An eight-time winner of the Northeast Ohio Top Workplace Award, the company has also distinguished itself with world-class patient satisfaction rankings four years running. What’s more, a recent study by the RAND Corporation indicated that the ExactCare Medication Management Program was proven to consistently cut costs and reduce hospital admissions for patients with complex medical needs.

 

51. Helix
Category: Software & Data

Helix is the leading population genomics and viral surveillance company. Helix enables health systems, public health organizations, and life sciences companies to accelerate the integration of genomic data into patient care and public health decision making.

Powered by one of the world’s largest CLIA/CAP next-generation sequencing labs and the first and only FDA authorized whole exome sequencing platform, Helix supports all aspects of population genomics including recruitment and engagement, clinically actionable disease screening, return of results, and basic and translational research. In response to the COVID-19 public health crisis, Helix launched a sensitive and scalable end-to-end COVID-19 test and viral surveillance system to meet the needs of health systems, employers, governments, and other organizations across the country.

Helix is a private company and was founded in 2015. It is headquartered in San Mateo, California with offices in San Diego and New York. Investors include Warburg Pincus, DFJ Growth, Kleiner Perkins Caufield Byers, Mayo Clinic, and Temasek.

 

52. LeanTaaS
Category: Software & Data

LeanTaaS is a leading Silicon Valley-based health technology company that creates software solutions to transform healthcare operations by combining lean principles and predictive and prescriptive analytics. LeanTaaS’s product suite includes iQueue for Operating Rooms, iQueue for Infusion Centers, and iQueue for Inpatient Beds.

The solutions apply sophisticated artificial intelligence and machine learning to existing structured and unstructured data to predict and prescribe corrective actions to eliminate operational bottlenecks, allowing hospitals to better manage beds, surgical backlogs, infusion wait times, and limited staff. More than 130 health systems and around 500 hospitals across 42 states rely on iQueue to increase patient access, decrease wait times, reduce healthcare delivery costs, and improve revenue.

 

53. Clinical ink
Category: Software & Data

Clinical ink is the global life science company that brings data, technology, and patient science together. ​Their deep therapeutic-area expertise, coupled with Direct Data Capture, eCOA, eConsent, telehealth, neurocognitive testing, and digital biomarkers advancements, ​drive the industry standard for data precision and usher in a new generation of clinical trials.​

Founded in 2007 by Doug Pierce and Dr. Tommy LittleJohn, Clinical ink offered the first purpose-built solution to directly digitize clinical trial source data, eSource. Since then, the company has expanded its reach and clinical trial solution portfolio to lead the industry, which is increasingly embracing mobile technologies, virtual studies, and decentralized clinical trials. With over 293% growth between 2020 and 2021 alone, Clinical ink was listed on 2021’s Deloitte Technology Fast 500, as well as nominated as Technology Company of the Year by the Philadelphia Alliance for Capital and Technologies (PACT), which celebrates the achievement and innovation of life sciences leaders. By harnessing digital data, Clinical ink powers sponsors, CROs, researchers, and patients to recenter decentralized trials and rewrite the clinical development experience.

 

54. InterVenn Biosciences
Category: Biotech

The result of a synthesis of AI and machine learning with glycoproteomics, the offerings of Bay Area biotech great InterVenn Biosciences have continued to win widespread acclaim for their critical applications in precision medicine. Fueled by mass spectrometry and liquid chromatography, the company’s platform enables the development of enhanced decision-making and assay support. Still the world’s largest figure in glycoproteomics, the company’s research has yielded important new solutions for the treatment of cancer—particularly ovarian, prostate, liver, and kidney cancer. Its Vista application suite also offers best-in-class solutions for treatment and monitoring of a patient’s ongoing medical needs.

InterVenn was started in 2017 by Chief Executive Officer Aldo Carrascoso, previously the founder of major user-generated content licensing platform Jukin Media and blockchain payment company Veem. Recently, InterVenn announced that it would be partnering with SoftBank Group and other investors to grow its global presence in order to expand the worldwide potential of glycoproteomics.

 

55. Omada Health
Category: Software & Data

Integrated virtual health provider Omada Health helps 1,600 enterprises of all sizes deliver personalized health interventions for their workforces. Omada boasts an enrollment in excess of 500,000 people across the U.S., and is partnered with major organizations including Cigna, Kaiser, Iron Mountain, and Costco. Its evidence-based virtual care programs are demonstrated in clinical trials to help employees improve their health and manage chronic conditions including diabetes prevention and management, hypertension, and behavioral health.

Omada has built itself into an industry leader beginning with its founding in 2011. Within eleven short years, the company has built collaborations with the American Medical Association and launched a first-of-its-kind clinical trial for weight loss that was published in the journal Preventing Chronic Disease, just one of its 18 peer-reviewed medical publications. In 2021, the company was the first virtual diabetes health program ever to meet NCQA accreditation standards for population health management.

 

56. Quanticate
Category: Software & Data

Data-centered clinical research organization Quanticate is a South African bioresearch company that focuses on advancing the management and analysis of clinical trial data. Emphasizing functional services, ISS and ISE, and therapeutic areas, the company is notable for its outsourcing solutions in a wide variety of important healthcare data issues, including but not limited to biostatistics, medical writing, SAS programming, and pharmacovigilance. It utilizes key data capture techniques that help partners make the most of their clinical trials from its offices in the U.K., India, Poland, and beyond.

Established as Statwood in 1994, Quanticate came into being through a merger with Oxford Pharmaceutical Sciences in 2007. The last year has seen the assertive development of further technological capabilities with the promotion of a new head of machine learning and digital transformation, as well as the launch of a brand-new remote source data verification program, a critical component in the collaboration of international clinical research sites.

 

57. BillionToOne
Category: Biotech

BillionToOne is a molecular diagnostics company with a mission to make molecular diagnostics more powerful, accurate, and accessible for all. BillionToOne’s proprietary Quantitative Counting Templates, or QCT(TM), platform unlocks transformative improvements in prenatal screening and liquid biopsy for cancers. This technology quantifies molecules at the single base-pair level. Unity Screen(TM), BillionToOne’s commercially available non-invasive prenatal test (NIPT), is the only NIPT that can assess fetal risk for both recessive conditions and aneuploidies from maternal blood. UNITY Screen continues to grow 300%+ year over year and may become the next standard-of-care, with an increasing number of publications showing its accuracy and advantages over other screening methods. BillionToOne has also recently used its QCT technology to develop therapy selection and therapy monitoring products for cancer, Northstar Select (TM) and Northstar Response (TM), currently available for research use and expected to be available commercially early next year.

BilionToOne has raised more than $200 million in funding, with their most recent Series C funding round of $125 million closing in March 2022. The company’s prominent investors have previously invested in companies such as SpaceX, Uber, Spotify, Palantir, Braintree, WebMD, and DexCom. BillionToOne was founded in 2016 and is led by Co-Founder and CEO Oguzhan Atay, PhD.

 

58. Kaia Health
Category: Software & Data

As a digital therapeutics company, Kaia Health is at the forefront of the treatment of COPD and musculoskeletal diseases. Using the latest in machine learning and AI, the company is leading the charge in fighting these chronic conditions, partnering with medical providers to create an interdisciplinary digital platform perfectly designed to optimize care while minimizing costs. Headquartered in Munich and New York City, the company employs a team 1,200 strong for further development of its AI-assisted digital therapy technologies.

Kaia was established in 2016 by Konstantin Mehl and Manuel Thurner. Inspired by their own battles with chronic musculoskeletal pain, they created Kaia as a way to bring multimodal therapy to those who need it most. This year, the company made use of its recent $75 million fundraise to launch a brand new COPD digital therapy branch, expanding access to care to the tens of millions of people suffering from the chronic respiratory condition.

 

59. Biodesix
Category: Biotech

Based in Boulder, Colorado, Biodesix, Inc. is a leading data-driven diagnostic solutions company helping answer critical clinical questions faced by physicians, researchers, and biopharmaceutical companies, with a primary focus in lung disease. The company develops and commercializes blood-based diagnostic tests designed to address these important unmet needs in healthcare, by combining multi-omics through the power of artificial intelligence.

Biodesix is the first company to offer five non-invasive, Medicare-covered tests for lung nodule assessment and treatment guidance for patients with lung cancer. The blood-based Nodify Lung® nodule risk assessment testing strategy, consisting of the Nodify XL2® and the Nodify CDT® tests, evaluates the risk of malignancy in incidental lung nodules. The blood-based IQLung™ testing strategy for patients diagnosed with lung cancer integrates the GeneStrat® ddPCR™ test, the GeneStrat NGS™ test, and the VeriStrat® test to support treatment decisions across all stages of lung cancer. The company understands that rapid access to critical information is essential in the diagnosis and management of lung cancer. To help address this challenge, all tests deliver results in an unprecedented length of time: within a week for Nodify Lung and 36-72 hours for IQLung.

Biodesix also leverages the proprietary and advanced Diagnostic Cortex® AI platform to collaborate with many of the world’s leading biotechnology and pharmaceutical companies in order to solve complex diagnostic challenges. The company recently published significant advancements in transparent AI, and has broken the “black box” of AI-designed algorithms in advanced diagnostic tests.

 

60. Exagen
Category: Biotech

Exagen is best known for its rheumatology and autoimmune testing products, which have rapidly become the gold standard in their respective fields. The company’s vaunted Avise line of diagnostic, prognostic, and monitoring tests are the product of its unique patient-focused laboratory, which is also responsible for conducting dozens of peer-reviewed clinical trials to create and refine their line of revolutionary products. Avise tools have helped physicians gain the diagnostic information needed to achieve optimal decision-making and improve patient outcomes.

Founded by venture development entrepreneur Waneta Tuttle in 2002, Exagen has since gone public and has shown consistent growth over the course of its two decades of doing business. This year saw an expansion of the company’s customer network, as well as ongoing research on the effective treatment of lupus; Exagen’s Avise Lupus was demonstrated in a July 2022 study to show overwhelming utility compared to other medications for the chronic disease.

 

61. Big Health
Category: Consumer HealthTech

Big Health’s mission is to help millions back to good mental health by providing safe and effective digital mental health treatments for the most common mental health conditions, including insomnia and anxiety. Designed by leading clinical experts, Big Health’s digital therapeutics, Sleepio for insomnia and Daylight for anxiety, expand access to gold-standard care, including behavioral medicine, and are backed by industry-leading research and randomized controlled trials. By seamlessly integrating across the care pathway, from member engagement to billing via pharmacy benefit managers, Big Health simplifies adoption for both payers and patients, providing an inclusive, scalable, and affordable approach without serious side effects.

Today, Big Health has more than 10 million covered lives, more than 70 published studies, 13 randomized controlled trials (RCTs), and more than 28,000 study participants. In 2021, Big Health’s digital therapeutics Sleepio and Daylight became available nationally to all adults in Scotland. In 2022, Sleepio became the first-ever digital therapeutic to receive National Institute for Health and Care Excellence (NICE) guidance as a safe, effective, and cost-saving option for treating insomnia in the U.K.

 

62. Accelerate Diagnostics
Category: Medical Devices

Arizona-based medical equipment manufacturer Accelerate Diagnostics is working to save the lives of patients suffering from serious infections with the development and production of a new generation of in vitro diagnostic products. Combining microbiology with advanced machine learning, Accelerate’s Pheno and PhenoTest BC empower physicians to diagnose infection and prepare treatment many times faster than previous methods. The company’s central product line have become indispensable in the effective treatment of patients and overcoming the hurdles of sepsis and antimicrobial resistance.

The company began its remarkable story in 1987, only gaining its current name in 2012, when it also held its initial public offering. This year saw the launch of its new Accelerate Arc, a kit designed to simplify the clean-up of blood cultures with a fully automated workflow. Accelerate was also honored this year with China’s Suzhou Industrial Park Science and Technology Leaders Innovation Award for its landmark Pheno system.

 

63. Avalon Healthcare Solutions
Category: Software & Data

Avalon Healthcare Solutions, the world’s first and only Lab Insights company, brings together proven lab benefit management solutions, lab science expertise, digitized lab values, and proprietary analytics to help insurers proactively inform appropriate care, reduce costs, and improve clinical outcomes.

Avalon, headquartered in Tampa, Florida, was co-founded in 2013 by CEO Bill Kerr, MD, and Adam Boehler. With 175 associates. Avalon has experienced 3x revenue growth in each of the past two years. Working with health plans across the U.S., Avalon covers more than 33 million lives and delivers 7-12% outpatient lab benefit savings. In 2021, Avalon helped payers achieve $39 million in annual member out-of-pocket savings.

Optum recently selected Avalon for its new lab benefit management solution to reduce unnecessary testing and ensure patients receive the screenings that truly inform the right care and a timely diagnosis. The tool helps align lab tests with clinical guidance and automates large parts of lab benefit administration. Meanwhile, Avalon continues to innovate. Its Lab Insights Platform is pioneering a new era of value-driven care by capturing, digitizing, and analyzing lab results in real-time to provide actionable insights for earlier disease detection, ensuring appropriate treatment protocols, and reducing overall costs.

 

64. Enable Injections
Category: Medical Devices

Cincinnati-based Enable Injections is worried about only one thing: redefining drug delivery for the benefit of patients, providers, payers, and partners. The privately held company was founded in 2010 by Mike Hooven, who previously founded Atricure, a $3 billion public surgical treatment company. As CEO of Enable Injections, Hooven has been making headlines recently, as his company secured $215 million in new financing in January 2022, bringing its total funding up to $347 million.

Based on its unique Enable enFuse technology, the company offers an innovative drug delivery technology designed to subcutaneously deliver large volumes of up to 50mL for a wide range of therapies and diseases. This allows for a safe, convenient, and cost-effective alternative to IV administration. While multiple companies support the delivery of drug volumes of 3 ml and under, few businesses have devices that cater to larger volumes that cannot be quickly administered under the skin. This has allowed Enable Injections to corner a growing market, which is expected to reach $8 billion within ten years.

 

65. Pluri Inc.
Category: Biotech

In July 2022, Pluristem Therapeutics announced that after 21 years, the company was renaming itself Pluri Inc. Since its launch, the company has been engaged in the development of human placental adherent stromal cells for commercial use in disease treatment. Its new name reflects a broader strategy of leveraging its 3D cell expansion technology to develop innovative cell-based products that can be harnessed for a wide range of fields beyond medicine, including various areas of the life sciences.

The pioneering company was founded by Shai Meretzki, who made use of a stem cell patent which was developed during his PhD studies in Israel. In 2003, the Nasdaq-listed shell company A1 Software acquired all shares and patents belonging to Meretzki’s company, which is now being traded on the Nasdaq, the Tel Aviv Stock Exchange, and the Frankfurt Stock Exchange. Among its notable milestones, in 2012, the company was awarded two Israeli government-backed grants that were worth $5.6 million in total. In January 2022, Pluri formed a collaboration—the company’s first—with Israeli food giant Tnuva Group to produce sustainable cultured food.

 

66. Krystal Biotech
Category: Biotech

Founded by Krish Krishnan and his wife Suma Krishnan, Krystal Biotech is working to develop treatments for rare, orphan skin diseases caused by the absence of, or a mutation in, a single gene. At the time of its launch in 2015, both partners were already experienced biotech executives who had been working together professionally for more than a decade. According to Krishan, he became fascinated with the world of biotech after a company of his received approval for a drug, which led to hearing stories from friends about their children being able to take the drug and feel better. Now, the Pittsburgh-based company is focused on leveraging its novel, redosable gene therapy platform and in-house manufacturing capabilities to develop therapies to treat serious rare diseases.

At first, Krystal was self-funded. It later took on two rounds in corporate venture capital that equaled $18 million before going public in September 2017. As a public company, Krystal has raised $386 million in total. With numerous products in the pipeline now, Krystal continues to develop its portfolio, which necessitates more room to grow. In January 2020, it broke ground on a second center for gene therapy production: a 150,000-square-foot building that it’s calling ASTRA. According to the company’s leadership, its primary objective in 2022 is to prepare for the potential approval and launch of B-VEC, which treats Dystrophic Epidermolysis Bullosa, in the U.S.

 

67. Precision Medical Products
Category: Medical Devices

Since launching as a self-funded startup in 2010, Precision Medical Products has been specializing in solutions for postoperative recovery. The company, which is now headquartered in Carrollton, Texas, is known for its deep vein thrombosis (DVT) and bracing solutions. Its existing suite of offerings include the CIRCUL8® brand, featuring the CIRCUL8® Pro, a powerful and portable take-home DVT prevention product; and the VenaOne®, a mobile DVT prevention system for hospital use. Both products are self-contained and cordless, allowing for maximum mobility.

The privately-owned growth stage company made industry headlines in December 2021 when it acquired two of the original companies in the mobile compression device industry: Innovamed Health and Vena Group. The acquisitions were a huge boon for Precision Medical Products, which now owns the industry’s first single patient use mobile compression device on the market, and the first portable compression device for the hospital market. With around 150 employees working diligently to “cut the cord” for patients and providers, the company has been recognized on the Inc. 5000 List of Fastest Growing Companies in America and has been awarded a variety of innovation awards for its patented products.

 

68. Hallmark Health Care Solutions
Category: Software & Data

Today’s hospitals, health systems, long-term care organizations, and medical groups all face serious challenges posed by the turbulent labor environment. Simply intelligent, end-to-end technology from Hallmark Health Care Solutions (HHCS) solves these challenges by providing data-driven insights and modernized technology for sustainability in workforce, compensation, and contract management. The company’s Einstein II platform enables healthcare organizations to take direct control of their labor supply. Einstein II empowers them to recruit more effectively, fill openings more expeditiously, and ensure staffing goals are achieved less expensively. The result is heightened efficiency, productivity, and resource utilization that ultimately leads to increased patient volume and revenue.

HHCS’ Heisenberg II platform helps healthcare organizations better retain top physicians and advanced practice providers (APPs) by reducing errors and enhancing efficiency, communication, and transparency in provider compensation and contracting. The platform streamlines processes and uses AI-driven automation to accurately calculate and adjudicate provider compensation in accordance with contract terms and value-based performance measures.

In the past decade, HHCS has collectively delivered more than $250 million in cost savings and revenue gains and calculated $5 billion in physician compensation. As No. 318 on the Inc. 5000 List of Fastest Growing Private Companies in the U.S., HHCS currently serves more than 100,000 healthcare professionals at more than 4,000 healthcare facilities in all fifty states. The firm continues to innovate with the expansion of its existing platforms as well as entry into new markets in which intelligent workforce management solutions are needed.

 

69. Technology Partners, LLC (dba ImagineSoftware™)
Category: Software & Data

ImagineSoftware is the leading provider of medical billing automation software and revenue cycle management applications. Offering powerful technology solutions for medical billing offices, practices, and hospitals for over 20 years, ImagineSoftware currently serves more than 75,000 physicians across 43 specialties. ImagineSoftware solutions improve financial efficiency, build provider reputation, and ultimately enhance the patient experience.

 

70. BioIQ
Category: Software & Data

With its first-of-its-kind health connectivity platform, BioIQ has launched thousands of successful health testing programs, serving millions of participants. The growing success of the company stems from its ability to meet a skyrocketing demand for at-home health testing. It does so by modernizing the diagnostic testing industry through a national network of labs and customized solutions. Included in its testing product lineup are: screenings for COVID-19, colorectal cancer, diabetes, kidney disease, and infectious disease, to name a few.

Founded in 2005, BioIQ has undergone several significant changes over the years. Formerly based in Santa Barbara, California, in 2019, it moved its headquarters to Atlanta, Georgia. More recently, in May 2022, LetsGetChecked, a leading global healthcare solutions company, announced that it had finalized the acquisition of BioIQ, with plans of having BioIQ operate as a wholly-owned subsidiary. The news arrived on the heels of several positive strides for the company, which has experienced record year-over-year growth. In December 2021, it announced that it was ranked on the Deloitte Technology Fast 500™ for the fifth time in the last eight years. During that same year, it also added multiple Fortune 500 companies, government agencies, and national health plans to its client base.

 

71. Qventus
Category: Software & Data

Qventus is the leading provider of AI-based software for care operations automation. Founded in 2012, the company has developed a complete system to automate care operations and is a partner to leading health systems and providers nationwide, including Boston Medical Center, HonorHealth, M Health Fairview, Saint Luke’s Health System, and UAMS Health.

Integrating with EHRs, the Qventus platform uses AI, machine learning, and behavioral science to power best-practice solutions for inpatient, perioperative, emergency department, and command center settings. With Qventus, healthcare organizations have achieved breakthrough performance improvements, including more than 2 surgical cases added per OR per month, 30+ days lead time for identifying OR blocks to release, and 30-50% fewer excess days.

In the last year alone, Qventus’ real-time platform generated more than 15 billion patient-level predictions, enabling health systems to eliminate more than 200 years of excess days and generate over 10x ROI. To further accelerate its market leadership, Qventus recently established a strategic partnership with Premier Inc. In addition to making care operations automation solutions available to more providers, the partnership will enable co-development of new solutions that combine Premier’s expertise and unique data assets with Qventus’ technology platform and expertise in AI and machine learning.

 

72. Sino Biological
Category: Biotech

Founded by MIT professor Dr. Daniel I.C. Wang and his former student, Dr. Liangzhi Xie, Sino Biological is an internationally recognized biological reagents manufacturer. The company’s ever-growing portfolio of products includes: research protein and antibody reagents, purification resins, enzymes, transfection reagents, and diagnostic ELISA kits. In fact, over the years, they have generated more than 6,000 recombinant proteins currently in stock. Sino Biological is also dedicated to the study of infectious diseases and immunology. Its ProVir™ collection is the world’s largest viral antigen bank, carrying more than 1,000 products from 350 strains of viruses, including the world’s first recombinant antigens for the SARS-CoV-2 virus.

The company was launched in 2007 and is now listed on the Shenzhen stock exchange. With already a large global footprint—its laboratories consist of more than 80,000 square meters of space—the company continues to grow. In September 2021, Sino Biological approved a $23.5 million proposal to establish a wholly-owned subsidiary within Taizhou China Medical City Park. Then, in January 2022, the company announced that it was opening a new physical location in Houston, Texas. These new sites, together with locations in Beijing, Shanghai, Frankfurt, and Philadelphia, strengthen efficient client and partner access to Sino Biological’s cutting-edge technologies and portfolio of products and services.

 

73. Sedera
Category: Consumer HealthTech

In 2014, Dr. Tony Dale founded Sedera as an alternative medical cost sharing solution. In the way that Uber and Airbnb have disrupted their respective industries, Sedera is turning the traditional health insurance model on its head with its innovative peer-to-peer medical sharing model. The concept behind Sedera is to get like-minded people together—with each member expressing a belief in a healthy lifestyle—and the company focuses on helping all members minimize their medical expenses. In return, members pay a monthly contribution, which is applied to legitimate healthcare bills, as needed.

With headquarters in the bustling city of Austin, Texas, Sedera is changing the way people access healthcare. Operating as a non-profit, its community offers services all across America to groups large and small, helping tens of thousands of people with their medical costs. Currently, Sedera has more than 100 employees and continues to grow each year. In October 2021, the company announced a partnership with GigSmart, the modern staffing company connecting businesses in need of labor with available workers. By partnering with Sedera, GigSmart’s 400,000 users have more freedom of choice to access, pay for, and manage their healthcare.

 

74. Sony Biotechnology
Category: Biotech

Sony Biotechnology’s origins go back to 1995, when it was first launched under the name iCyt Mission Technology, later becoming well-regarded for its innovation in the flow cytometry industry. In 2009, the company became part of Sony. The electronics giant opted for a name change in 2012. Now called Sony Biotechnology, the fresh name reflects the company’s new mission of combining its established expertise with Sony’s IP and technology to become a technology-driven business that transcends the boundaries of traditional flow cytometry. For instance, its use of microfluidics and spectral analysis are two examples of “Sony know-how,” which has given the company an edge in the highly competitive market for flow cytometry and imaging products.

Consequently, Sony Biotechnology has seen rapid growth since its inception. Based in San Jose, California, it now has affiliate offices in Japan, China, and Europe, as well as distributors in many regions of the world. Over the years, its pioneering products have received numerous top honors, including the Frost & Sullivan Emerging Technology Award and the Milestone Award.

 

75. Sotera Health
Category: Biotech

Sotera Health derives its name from Soteria, the Greek goddess of safety. By leveraging its workforce of more than 3,000 full-time employees, the privately-owned company operates facilities that sterilize medical products and food, among other things. To get the job done, it goes to market through three businesses: Sterigenics®, Nordion®, and Nelson Labs®. In addition to sterilization services—which include gamma and electron beam irradiation and EO processing—the company also provides rigorous lab testing and advisory services to various members of its sizable client base, many of whom are located in the U.S., Canada, and Europe. Due to this extensive reach, the company touches the lives of more than 180 million people around the world each year and serves more than 6,000 global customers, including 75% of the top 100 medical device manufacturers.

Sotera Health was incorporated in 2017 by Michael Petras and is headquartered in Broadview Heights, Ohio. Following its last round of funding, which occurred in March 2021, the company has raised $675 million to date.

 

76. Precision Value & Health
Category: Software & Data

Since 2016, Precision Value & Health has been bringing specialized expertise to every juncture of the creation-to-commercialization continuum for its clients in the life sciences space. The company is headquartered in New York, NY. Leveraging the power of data-driven evidence, Precision Value & Health is able to help clients navigate their way through commercial journeys by offering end-to-end products and consultative insights. To aid with this difficult and multi-faceted process, Precision Value & Health’s specialists are divided into highly specialized teams: PRECISIONadvisors (global pricing and market access strategy), PRECISIONeffect (branding and launch experts), PRECISIONheor (evidence generation and strategy), PRECISIONscientia (medical communications), PRECISIONvalue (managed markets marketing), PRECISIONxtract (data-driven solutions and engagement).

In addition to expanding through innovation, the company has also grown through a recent acquisition. In March 2021, the company announced that it had acquired Across Health, a leading global omnichannel engagement consultancy. The combination of its expertise and proprietary Navigator365 product suite—on which more than 40 pharmaceutical companies rely for omnichannel planning and resource allocation—puts Precision Value & Health in a good spot. Looking forward, the company is well-positioned to step into a new level of evidence-based customer engagement that will only lead to greater success for its clients around the globe.

 

77. Intarcia Therapeutics
Category: Biotech

Intarcia Therapeutics is a biopharmaceutical company developing therapies for chronic diseases. It was founded in California in 1995 under the name BioMedicines—a name that it maintained until 2004, when company leaders decided to change it to its present form. Later, in 2013, the company went bicoastal by relocating its headquarters to Boston, while keeping its manufacturing facility in Hayward, California. Today, on top of Boston and Hayward, Intarcia also has a physical location in the Research Triangle Park, North Carolina, where it continues to work on discovering and developing peptides for its drug delivery system.

Currently, the company’s flagship product, Medici Drug Delivery System, has the potential to transform the prevention and management of serious chronic diseases. Other Intarcia products include OMEGA DUROS, an interferon delivery device for treating Hepatitis C; and ITCA 650, a delivery device that provides type 2 diabetes patients with long-term steady-state dosing of an incretin mimetic therapy. Additionally, the company develops programs for treating obesity. Valued at more than $5 billion in 2015, when it attracted investors like the Bill & Melinda Gates Foundation, the company is now focused on funneling its resources into the R&D aspect of its innovation-to-marketplace strategy.

 

78. Caption Health
Category: Software & Data

Founded in 2013 and headquartered in Brisbane, California, Caption Health’s mission is to detect disease early—when there is the highest potential for impact—by leveraging artificial intelligence and ultrasound. Its team of best-in-class entrepreneurs, engineers, and clinicians are committed to transforming care, expanding access, and reducing costs.

Artificial intelligence and ultrasound technologies are not new. Yet nobody had integrated the two to drive early disease detection and create better healthcare experiences until Caption Health. It makes imaging for early disease detection possible, thus supporting an informed and personalized care pathway that saves time, resources, and positively impacts lives.

Ultrasound can be difficult to master—taking years of specialized training to learn—and image quality can vary. Simply performing the exam involves unnatural hand-eye coordination and unintuitive visuals. Traditional ultrasound software doesn’t provide instruction on how to move the ultrasound transducer to capture an image, or any real-time feedback on the quality of images being captured. However, with Caption Health’s technology, any healthcare professional can capture diagnostic-quality ultrasound images thanks to AI guiding them through every step of the scanning and image-capture process in real time.

 

79. Transcenta
Category: Biotech

In September 2021, Transcenta Holding was listed on the Main Board of the Stock Exchange of Hong Kong. Those not paying close attention to the business markets overseas might have been caught off guard, considering that the company—which is based in Suzhou, China—only came about in 2019 as a result of a merger between MabSpace, a biotech company, and HJB, a bioprocessing specialist. Since then, Transcenta has become one of China’s unequivocal success stories.

Already, the company has established a global footprint with numerous locations around the world, including in China’s biggest cities. Furthermore, the company has opened physical locations in Boston, Princeton, and Los Angeles. As a clinical stage biopharmaceutical company, Transcenta fully integrates antibody-based biotherapeutics discovery, research, development, and manufacturing. Currently, it is developing a panel of nine antibody molecules for oncology and selected non-oncology indications, including bone and kidney disorders. Meanwhile, following its latest round of financing, the company has raised over $342 million from globally prominent investors.

 

80. Tosoh Bioscience
Category: Biotech

As a subsidiary of Tokyo’s Tosoh Corporation, Tosoh Bioscience is a San Francisco-based bioscience technology company. Since 1989, Tosoh Bioscience has become known throughout the Americas for providing sophisticated diagnostic systems to doctor’s offices, hospitals, reference laboratories, and veterinary practices. The company is a leading supplier of chromatographic columns, media, and sophisticated diagnostic systems, employing more than 12,000 people worldwide and generating sales of over $7.7 billion annually.

With state-of-the-art immunoassay and HPLC systems, Tosoh offers superior instrumentation to continually meet the operational and economic needs of laboratories today and in the future. The company remains at the forefront with a world-class network of research facilities, scientists, engineers, and customer support specialists. With a focus on organization-wide high standards, its leadership and staff work together to assure customers’ success.

 

81. Xoran Technologies
Category: Medical Devices

Xoran Technologies LLC is the innovator and market leader in compact, specialized medical CT scanners. The company is at the crossroads between innovation and commercialization, and it is passionate about bringing fresh, common sense solutions to patient care. It has committed itself to offering CT imaging that provides a convenient and simple solution for both patients and doctors, and it is devoted to meeting the needs of today’s physicians and aiding them in providing an accurate diagnosis using its low radiation dose scanners.

Xoran Technologies’ product line consists of the MiniCAT™ in-office CT scanner, the xCAT® ENT mobile intraoperative CT scanner, and XoranConnect®, a web-based medical image viewing and archival tool. All of the company’s products were designed to eliminate waste and inefficiency in healthcare. Xoran Technologies was founded in 2001 by two research scientists from the University of Michigan with the goal of developing common sense, innovative technologies that enable physicians to treat their patients more efficiently and effectively.

 

82. Ocimum Biosolutions
Category: Biotech

Ocimum Biosolutions is a global integrated genomic services company with operations in Hyderabad, India, and Houston, Texas. Founded in 2000 by former CEO Anu Acharya, Ocimum provides comprehensive bioinformatics services, reference databases, genomic services, and LIMS solutions to customers in more than 100 countries around the world. The company has been chosen as a global preferred outsourcing provider for more than 75% of the top 25 pharma and biotech companies, as well as for leading research institutes.

Ocimum has been consistently ranked as one of the fastest growing biotechnology companies and one of the fastest growing technology companies in India. It was also named the BioSpectrum – Bioinformatics Company of the Year in 2011 and 2012 and was listed in the third annual Inc. 5000, an exclusive ranking of America’s fastest-growing private companies.

 

83. RXNT
Category: Software & Data

RXNT is a fast-growing healthcare technology company headquartered in Annapolis, Maryland. The company provides integrated, cloud-based practice and clinical software for specialties of all sizes, from large physician practices to medical billing professionals across the United States.

Founded in 1999 by Randy Boldyga, the company revolutionized the way physicians wrote prescriptions with a cloud-based Electronic Prescribing solution that is still the gold standard. Today, RXNT has grown immensely, with a range of award-winning, certified healthcare technology solutions, including Electronic Health Records, Practice Management with Medical Billing and Scheduling, Patient Engagement & Telehealth, integrated mobile applications, and more.

The company’s newest patient-facing product, MyRXNT, helps patients stay connected to their health with user-friendly tools designed to manage medical information and navigate the health journey. Using RXNT’s software, more than 10 million prescriptions are transmitted and $300 million in claims are processed per year. In 2021, for the third year in a row, RXNT was named to the Inc. 5000 list of America’s Fastest-Growing Private Companies.

 

84. Providence Medical Technology
Category: Medical Devices

Founded in 2008, Providence Medical Technology, Inc. is a privately-held medical device company focused on innovative solutions for cervical spinal conditions. The company has pioneered a proprietary approach to cervical fusion and has developed surgical instrumentation and implants that offer unique benefits to the $2 billion worldwide cervical spine market. Its express purpose is to improve clinical outcomes for high-risk patients and prevent surgical failures of the cervical spine.

Providence Medical Technology’s CEO is also one of its co-founders, Jeff Smith, a healthcare entrepreneur with global experience in life sciences. In 2020, the company announced the initiation of enrollment in a human clinical Investigational Device Exemption (IDE) study evaluating the safety and effectiveness of its Posterior Cervical Stabilization System (PCSS). Since its launch, the company has raised more than $100 million in funding.

 

85. Canary Medical
Category: Medical Devices

With its goal of giving medical devices and data a voice, Canary Medical develops medical implant and data management devices that collect and process medical information. Founded in 2013, Canary designs and develops sensor based devices called Canary Health Implantable Reporting Processors (CHIRP), which enable remote patient monitoring and collect medical data. It also designs and develops smart medical devices that self-report on patient activity, recovery, and treatment failures.

Canary Medical was conceived of and created by a team of surgeons, medical device developers, and IoT experts, to pursue healthcare transformation through improved and cost-saving medical data devices. The company has received several awards and honors, including being named to the Fast Company Next Big Things in Tech 2021 List and receiving the LifeSciences BC award for Medical/Digital Technology Company of the Year in 2020.

 

86. Cynerio
Category: Software & Data

Cynerio is the one-stop-shop Healthcare IoT security platform. With solutions that cater to healthcare’s every IT need—from Enterprise IoT to OT and IoMT—Cynerio promotes cross-organizational alignment and gives hospitals the control, foresight, and adaptability they require to stay cyber-secure in a constantly evolving threatscape.

The company gives healthcare organizations the power to stay compliant and proactively manage every connection on their own terms with powerful asset management, threat detection, and mitigation tools so that they can focus on healthcare’s top priority: delivering quality patient care.

 

87. Bright.md
Category: Consumer HealthTech

Bright.md is the leading asynchronous telehealth solution increasing access and convenience for patients, while improving efficiency and consistency for providers. With evidence-based clinical interviews for common conditions and automated documentation, Bright.md improves how leading health systems deliver care to lower patient wait-times, reduce administrative burden for providers, guide patients to the right venue of care for their needs, and drive patient loyalty with industry-leading satisfaction ratings.

Bright.md is on a mission to make each healthcare experience easy and enjoyable for everyone—by transforming the system from within. With its asynchronous care solution, patients get treatment for common conditions in 8 minutes on average, and providers can deliver quality care in 4 minutes or less for hundreds of low-acuity common conditions.

Founded in 2014 and headquartered in Portland, Oregon, Bright.md was named the Best Overall Telehealth Solution in the MedTech Breakthrough Awards two years in a row in 2021 and 2022. The company was recently named the “Most Disruptive” in the Oregon Technology Awards, one of America’s Best Startup Employers by Forbes, and one of the Most Admired Companies in Health by Portland Business Journal.

 

88. Exponent Health
Category: Software & Data

For 30+ years, Exponent Health™ has been solving complex cost management and revenue optimization challenges across healthcare—from large, national payors and Blues plans, to PBMs and TPAs. Exponent Health enhances clients’ competitive edge and accelerates their business through amplified cost savings, transparency, and advanced analytics. Designed around client-specific needs, its specialized solutions focus on niche medical claim needs including out-of-network claims, regulatory compliance, and high-dollar bill audits and pharmacy decision support, including formulary rebate management, specialty drugs, and underwriting and sales support.

As a technology company dedicated to healthcare cost reduction, Exponent Health is leading the future with solutions powered by Expio™. Expio brings together artificial intelligence, automation, data, and analytics across medical and pharmacy into a next generation platform to create powerful solutions for unlocking savings opportunities. From formulary optimization to dynamic medical claim repricing to cloud-based analytics, Expio intelligently delivers optimizations and insights to amplify business success—and it is all supported by best-in-class operations and the highest security and compliance standards, including HITRUST certification.

As an independent cost management solutions provider, Exponent Health is fully dedicated to its clients’ success. It has grown to serve more than 70 national and regional payors and manages more than $2.5 billion in healthcare spend.

 

89. HitGen
Category: Biotech

Founded in 2012, HitGen Inc. is a biotechnology company headquartered in Chengdu, China, with subsidiaries in Cambridge, U.K. and Houston, Texas. Hitgen is the developer of a drug discovery research platform for small molecules and nucleic acid drugs, centered on the design, synthesis, and screening of DNA encoded chemical libraries (DELs), fragment-based drug discovery (FBDD), and structure-based drug design (SBDD) technologies.

After its acquisition of Vernalis R&D, HitGen boasts a research team of more than 500 scientists and offers a full set of research capabilities in bioscience and beyond. The company has approximately 20 in-house drug discovery programs at different stages of research & development, and is collaborating with pharmaceutical, biotech, and chemical companies, foundations, and research institutes in North America, Europe, Asia, Africa, and Australia to enable the discovery and development of novel medicines and agrochemicals.

 

90. OriGen Biomedical
Category: Medical Devices

Based in Austin, Texas, OriGen Biomedical is a leading producer of cryopreservation, cell culture, and respiratory products. Founded in 1997, OriGen is a growing, privately-held medical device manufacturer making a range of products to support the treatment of respiratory distress, cancer, genetic conditions, and other life-threatening diseases. Its products are designed with the patient and user in mind, and the company makes both customers and employees its priority.

OriGen is certified annually to ISO 13485 standards and regularly inspected by the FDA, MDSAP, and ISO certification organizations and its customers. Its innovation is driven by engineers with more than 70 years of experience with dozens of different specialty medical devices for cardiac care and cell culture. The company was named one of the Best Companies in BioTech in the 2022 Powderkeg Unvalley Awards, among other accolades.

 

91. Force Therapeutics
Category: Software & Data

Founded in 2010, Force Therapeutics is a leading patient engagement platform designed to help clinicians intelligently extend their reach. Force’s patient engagement platform and research network have been implemented by leading healthcare systems for their episode-based care delivery. Its platform leverages video and digital connections to directly engage patients at every step of the care journey—from the point of surgery scheduling to post-op recovery and beyond.

Force was founded by Chief Executive Officer Bronwyn Spira, who boasts more than 20 years of clinical physical therapy experience. Backed by millions of clinically-validated patient data points and insights from more than 70 leading healthcare centers across the country, the company is driven by values including accountability, empathy, and collaboration. The Force platform has been used to treat more than 450,000 patients.

 

92. Relias Learning
Category: Software & Data

For more than 10,000 healthcare organizations and 4.5 million caregivers, Relias Learning helps its clients deliver better clinical and financial outcomes by reducing variation in care. Founded in 2012, Relias delivers a leading healthcare learning platform that employs performance metrics and assessments to reveal specific gaps in clinical knowledge and addresses them with personalized, engaging learning. The company helps healthcare organizations get better at identifying problems and addressing them with better knowledge and skills.

Relias boasts partnerships with industry-leading organizations, including McKesson, SkillSoft, the National Council for Mental Wellbeing, and more. The company has received a Google Cloud Customer Award for Healthcare and Life Sciences, and has been recognized as a Best Place to Work for LGBTQ Equality in the Human Rights Campaign (HRC) Foundation’s Corporate Equality Index for 2021.

 

93. D2 Solution
Category: Software & Data

D2 Solutions is an innovative solution provider leveraging technology to drive healthcare efficiency. It empowers healthcare leaders with a unique combination of SaaS solutions and deep consulting expertise, focused on eliminating key friction points in the marketplace to help healthcare stakeholders achieve better workflow and attain improved patient results.

D2 is focused on bringing pharmaceutical manufacturers, payers, pharmacies, support providers, and patients together. D2’s call to action is to empower manufacturers to bring therapies to market faster and enable pharmacies to accelerate patient access to those therapies. Powered with that vision, the company works collaboratively with manufacturers’ teams to properly position a product into the desired sales channels while simultaneously working to ensure reimbursement success at the commercial and government payer levels.

D2 streamlines the process of onboarding patients using technology-enabled digital tools that can be customized to the disease state, automating the submission of paperwork required by patients’ insurance plans to allow the patient to begin medication therapy. The company’s fully flexible technology-based patient engagement solution has proven to accelerate the process of therapy onboarding and patient adherence. Founded in 2008, D2 leverages its experience of launching more than 350 pharmaceutical, biotech, and medical device products while working collaboratively with hundreds of manufacturers, distributors, and other industry stakeholders. This expertise provides the insights needed to see and act on the opportunities, challenges, and solutions to ensure a successful commercial effort while improving the patient experience.

 

94. renegade.bio
Category: Consumer HealthTech

renegade.bio is a LGBTQ-led public benefit corporation headquartered in Berkeley, California that offers fast, cost-effective, and highly-accurate diagnostic testing for community and public health. The company’s expertise ranges across clinical research, protocol development, clinical studies, regulatory navigation, data analysis, and reporting.

In renegade.bio’s first year, during the onset of the COVID-19 pandemic, the company tested more than 40,500 people for SARS CoV-2, including nearly 7,000 tests provided at no-cost to Bay Area community members. In the second year, they more than quadrupled that reach to include more than 173,000 tests. Utilizing fast and highly-accurate polymerase chain reaction (PCR) assays, LC-MS, and next generation sequencing (NGS) at renegade.bio’s CAP accredited and CLIA certified laboratory in Berkeley, they quickly deploy and optimize diagnostic test methods.

renegade.bio is currently developing on-time diagnostics across multiple disease spaces, including highly sensitive and accurate PCR monkeypox tests for San Francisco and California at large, as well as testing for various STIs and infectious diseases. The company also partners with other novel diagnostic developers to bring new cutting-edge technologies to the U.S. market for early disease detection, personalized medicine, drug development, and health monitoring using PCR, NGS, LCMS, and other cutting-edge technologies. renegade.bio enables individuals to take control of their health by proactively identifying at-risk communities, creating the right tests for their specific needs. They strive to lower costs for new testing modalities, increase availability through strategic partnerships, and provide more equitable access to testing for all people.

 

95. Patagonia Health
Category: Software & Data

Patagonia Health is a healthcare supplier of modern, cloud and apps-based Electronic Health Records (EHR) software, serving public health departments, federally qualified health centers (FQHC), and community health centers (CHC), as well as behavioral health agencies and private practices. Patagonia’s platform is a federally certified, complete EHR Practice Management and billing software. Employee-owned and organically grown, the company is committed to positively impacting patient outcomes.

Patagonia Health is led by Founder and Chief Executive Officer Ashok Mathur, whose deep understanding of the healthcare IT market and emerging software-as-a-service business models helped him lay the company’s foundation. Patagonia has been recognized with many awards and accolades, including receiving its seventh-consecutive Stevie® Award for sales and customer service in 2022. During the coronavirus pandemic, the company launched a Mass Vaccination App that helped patients self-schedule and manage vaccination appointments.

 

96. Lazurite
Category: Medical Devices

Lazurite (formerly Indago) is a pre-revenue medical device startup company backed by private capital. The company has raised more than $25 million to date from institutional investors, family offices, and more than 70 physician champions. The Cleveland-based company was founded in 2015 and designs devices to set new operating-room standards for efficiency and patient safety.

Lazurite’s ArthroFree™ System is the first wireless surgical camera system to receive FDA market clearance for arthroscopy and general endoscopy. The ArthroFree System ushers in a new era of wireless surgical visualization in minimally invasive surgery. It is designed to meet the needs of surgeons seeking more-nimble, cutting-edge surgical tools. Lazurite’s current product pipeline includes devices that incorporate their patented camera technology and laser light technology. Lazurite’s technologies are protected by a comprehensive intellectual property portfolio encompassing the ArthroFree wireless surgical camera system and the novel Meridiem™ light source as well as other products currently in development.

 

97. Vizzia Technologies
Category: Software & Data

Vizzia Technologies is a software and managed service provider of real-time location systems (RTLS) and advanced process improvement solutions for healthcare organizations. Its award-winning InVIEW℠ software platform provides real-time, actionable data and process visibility to improve enterprise efficiencies and patient care for leading health systems, hospitals, and clinics.

Founded in 2005 in Atlanta, Georgia, the company established the Vizzia IoT Lab at the University of New Mexico School of Engineering in Albuquerque. Its services are installed in more than 150 healthcare facilities across the U.S. Vizzia’s solutions include: asset management, contact tracing, environmental monitoring, hand hygiene, hospital wayfinding, and patient workflow. Its technology partners include: CenTrak, Sonitor Technologies, Cooper Lighting, Kontakt.io, and Phunware.

Vizzia has been recognized as one of America’s fastest-growing private companies on the Inc. 5000 list four years in a row, and its board advisors include the former CEO of GE Healthcare and the CIO of Piedmont Healthcare. The company recently upgraded its InVIEW℠ software platform—providing real-time data analytics and reports to improve patient care—and expanded its clinical Environmental Monitoring solution that is fully compliant with key federal guidelines from the U.S. FDA and NIST.

 

98. Commonwealth Diagnostics International
Category: Medical Devices

Commonwealth Diagnostics International, Inc. (CDI) is an innovative GI health company providing industry-leading diagnostic tests and tools to help physicians identify and diagnose common sources of digestive distress and functional gastrointestinal ailments.

Focused on our patient-centric principles, our cost-effective portfolio of diagnostic products results in expedited treatment, better patient outcomes, and robust cost savings for the healthcare delivery system. Our expansive portfolio includes non-invasive at-home breath testing kits for Small Intestinal Bacterial Overgrowth (SIBO), Intestinal Methanogen Overgrowth (IMO), and carbohydrate malabsorption disorders, as well as IBSchek, a proprietary capillary collection test for Irritable Bowel Syndrome (IBS-D/M), and MyGi Health, a cloud-based healthcare platform that enables patients to manage and understand their symptoms for a range of conditions.

Founded in 2015 in Salem, Massachusetts, and operating out of our CLIA-certified laboratory and as an FDA-registered, ISO 13485-certified medical device manufacturer, we pride ourselves on our partnerships with leading health systems, hospitals, and private practices worldwide. CDI has seen a tremendous shift from point-of-care to at-home diagnostics, leading to 75% growth over the past three years. With additional equipment, technology, and staff investments, CDI stays committed to delivering an industry-leading diagnostic experience to provider partners and their patients.

 

99. Fisher Wallace Laboratories
Category: Consumer HealthTech

Founded in 2007, Fisher Wallace Laboratories is a prescription wearable company pioneering the first hardware category to effectively compete with drug therapy for the treatment of depression, anxiety, and insomnia. The company’s flagship product is the Fisher Wallace Stimulator®, a cranial electrotherapy stimulation (CES) device designed to help alleviate mental health disorders. It has sold nearly 100,000 devices, worked with more than 14,000 prescribers, and conducted many clinical trials, developing new research and development strategies constantly.

Led by co-founders Kelly Roman—who now serves as Chief Executive Officer—and chairman Chip Fisher, Fisher Wallace also supports unconventional methods of spreading awareness, including supporting mental health-focused TikTok creators. In 2022, the company closed a funding round of $2.5 million in new capital, which it will use for product development and additional research.

 

100. XIL Health
Category: Software & Data

XIL Health is a women-led strategic analytics and technology company in the drug economics industry that allows retail pharmacies to use real-time metrics to make strategic decisions in a rapidly-changing marketplace. Founded in 2014, XIL Health consistently serves as a trusted advisor to the pharmaceutical industry, with analytics that more precisely account for rapidly changing market forces. XIL Health works closely with PBMs, retail pharmacies, hospitals, infusion companies, and specialty pharmacies to stabilize and innovate in a market that is dominated by large corporations.

The company developed XIL Impact, a cloud-based analytics platform that provides data, dashboards, and guidance to healthcare and healthtech companies. By simplifying the complexities of drug economics, its clients garner insights that support continued growth. Most recently, the company developed a vaccine dashboard that includes COVID-19 for retail pharmacies to use, consolidating key insights needed to focus on health market shifts.

In 2022, XIL Health was recognized as a tech leader as well as one of the most innovative employers in the country by Inc. Best Workplaces and Inspiring Workplaces. Its ability to create a positive workplace culture while scaling is critical to its success, and over the past year the XIL Health team has grown by 58%.

 

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