Alder offers expert, hands-on support for families navigating the complexities of aging. Alder is a team of experienced social workers and nurses helping families navigate the complexities of aging with compassion, clarity, and hands-on support.
Sector: Healthtech + Services
Nikhil Marathe
Nikhil is a Principal at F-Prime, where he spearheads the firm’s efforts in healthcare growth equity. His primary focus is to partner with rapidly growing, capital efficient businesses in healthcare software and services.
Prior to joining F-Prime, Nikhil worked at Juxtapose, a creation-oriented investment firm focused on healthcare and technology, where he spent 2 years incubating a new business venture in the pharmaceutical services ecosystem. Prior to Juxtapose, Nikhil spent 13 years at Silversmith Capital Partners and TA Associates, where he closed 12 growth-stage investments across healthcare and enterprise software. He began his career as a technology investment banker at Evercore.
Nikhil has a BS in Economics from The Wharton School at the University of Pennsylvania, with concentrations in Finance and Management.
Behind the Breakthrough: Q&A with Kai Eberhardt, CEO and Co-founder of Oviva
Kai Eberhardt transformed a personal cancer diagnosis in his twenties into a lifelong commitment to improving patient empowerment and healthcare accessibility.
Diagnosed with cancer in his early twenties, Kai Eberhardt quickly learned how disheartening it can feel to navigate the healthcare system without information or agency. That experience became a transformational force, first pushing him toward deeper medical knowledge, then through a PhD in medical physics, and ultimately into the business of healthcare.
He co-founded Oviva in 2014 with engineer Manuel Baumann to confront one of the most widespread, but underserved, health challenges in society: chronic weight-related conditions (such as obesity and type 2 diabetes). Despite the abundance of clinical evidence showing that behavior change and lifestyle interventions can be highly effective, few systems were designed to deliver them at scale, and even fewer offered sustained, patient-centric care accessible to everyday lives.
Eberhardt and his team saw an opportunity to reimagine care delivery, starting with something simple: a secure, compliant chat app connecting patients and their care teams. Over time, that communication layer evolved into Oviva’s full-stack digital care platform, now used by more than one million patients across the UK and Europe.
On the heels of Oviva’s expansion into cardio-metabolic conditions, and after nearly a decade of building credibility and capability in systems like the National Health Service (NHS), Eberhardt shares what it takes to turn frustration into innovation, how the company is scaling with purpose, and why technology is only one part of the solution.
What gap in the healthcare system were you aiming to address in founding Oviva?
The idea for Oviva emerged from a common challenge in obesity treatment—most patients don’t continue treatment after one or two visits. It just isn’t practical for patients to regularly attend sessions in-person despite a demand for care.
What stood out was that these same patients were always on their phones, and unlike other areas of care, weight management doesn’t require physical exams, lab work, or imaging. It largely includes education, coaching, and real-time support. So, we asked: what if we digitized the same care that we provided in-person and delivered it on their phones, anytime, anywhere? That would make it dramatically more accessible, and likely more effective, too.
Can you talk more about how this model helps address affordability and equity?
People managing chronic conditions often juggle jobs, childcare, daily stress – and weight-related health is important, but not always urgent. That makes it easy to de-prioritize care, especially when it requires a visit to a doctor’s office on a random Wednesday afternoon.
Making care available on your phone, on your own schedule, changes everything. For example, look at the NHS Diabetes Prevention Programme – about 20% of people completed the in-person model, but closer to 70% completed Oviva’s digital version. That’s a massive difference.
Virtual care also opens the door to serving culturally and linguistically diverse communities. With digital delivery, you can tailor the content, language, and nutrition guidance for many different patients. Curating care is almost impossible to do well in a one-size-fits-all, in-person group setting.
You integrate clinical, nutritional, and psychological care. What makes that approach so essential?
Obesity is multifactorial – you just can’t treat it through one lens. Some people need help with nutrition education, some have complex psychological patterns or trauma, and now we also have powerful medications that should be managed by doctors. No one discipline can cover it all.
Not every patient needs every service, but having a full stack available is essential to delivering effective care. We learned this from the best in-person programs –where coordination across teams made all the difference, though it was resource-intensive and hard to sustain. By operating digitally, we can bring those same multidisciplinary perspectives together without the limits of geography or scheduling.
What makes Oviva truly different from other players in your space?
We’re with our patients every day. That’s the biggest difference. Face-to-face models might give you 30 minutes with a clinician once a month. We’re a daily companion – logging meals, giving feedback, coaching, and support throughout the day. That consistency leads to better outcomes.
We’ve published more than 90 papers showing that we outperform in-person care, and because we’re digital, we can do it at lower cost and with broader reach. We’re essentially industrializing something that used to be artisanal – making personalized, behavior-change therapy highly scalable.
Regarding Oviva’s role within the NHS – what does it take to build innovation and credibility in a system as rigorous and complex as that one?
Evidence, first and foremost. I’ve always believed in backing up what we do with strong data, while publishing results publicly to build trust and demonstrate transparency.
After that, it’s about communication – having the skills and patience to speak to very different stakeholders across the NHS. And finally, it’s about partnership. We don’t try to replace services; we instead think about how we can add value to the system through better access and efficiency. This mindset helps us prove we’re here for the long haul.
You have talked about being driven by your own personal experiences in the healthcare space. Can you share how that energy helped shape your journey as a founder?
I’ve always been a pretty intense and action-oriented person. Frustration, for me, serves as a powerful motivator because it offers clarity and urgency. I don’t sit still when I see something broken. I’m not afraid to make decisions or move fast. I think that drive helped me do something many would consider irrational – starting a health tech company from the ground up in a pretty complex space.
Obesity is a field that often carries judgment or stigma. How do you lead with compassion and evidence in that environment?
Honestly, that’s one of the most fulfilling parts of what we do. Many of our patients haven’t received good care before – they’ve been judged or dismissed by the system. When we help them see real progress, it’s incredibly rewarding.
It’s not just for the patient’s benefit either. We’ve shown, with data, that our program reduces patient sick days by about a third within six months. That translates to added productivity in the workplace, tax revenue, and long-term cost savings – things that help the entire system. So, when people ask if this population is “worth investing in,” our results make the answer abundantly clear.
What advice would you give to other founders trying to build something in or alongside a public health system?
You need grit. It takes a long time to get through validation, adoption, and scaling inside a system like the NHS. The process can be very frustrating, especially when you know your solution could help people immediately, but adoption takes time.
Some delays are for good reasons, like needing strong evidence. Other delays are due to competing interests or systemic inertia. You must keep showing up and pushing forward. The reward is that once you’re in, and your model works, it’s incredibly sticky and impactful.
What excites you the most about what’s coming next?
We’re about to launch our hypertension solution, pending final regulatory approvals. It’s been in the works for two years and is a huge opportunity to build something that serves both patients and doctors more effectively – especially in how we manage data, daily insights, and ongoing support between visits.
The role of AI in all of this is just getting started. Our AI-first care model has the potential to transform patient support, making delivery more efficient and effective. We can provide even better continuity of care between doctor visits and better inform doctors for those visits. Since the ChatGPT moment, we’ve been embedding more AI features into our product, making care more scalable and improving outcomes. AI technology and Oviva are evolving rapidly – and I can’t wait to see how far we can go.
Olivia Carlson
Olivia Carlson is a Senior Associate at F-Prime, focusing on investments in healthcare technology and services companies. Prior to joining F-Prime, she was an investor at M33 Growth, where she assessed investment opportunities and supported their portfolio of growth-stage healthcare companies. Olivia also worked in strategy consulting for EY-Parthenon’s healthcare team. She started her career as a certified nursing assistant, working for a home health and hospice company throughout college.
Olivia holds a B.A. from Williams College, where she majored in Pre-Medical Studies and Psychology.
F-Prime’s Summer Internship and Fellowship Program: Meet Our 2025 Interns and Fellows
A big thank you to our interns and fellows for their valuable contributions this summer!
This summer, F-Prime was excited to welcome a talented group of interns and fellows to our Cambridge and London offices. They played key roles in competitive landscape analysis, sourcing, founder calls, and more. Read on to discover what it’s like to be part of our internship and fellowship programs.

“This experience has deepened that interest, especially seeing how these tools might fit into real business contexts like VC. Listening to discussions where those kinds of possibilities are explored has also been hugely motivating. ”

“The work is creative. I expected rigorous diligence, but I didn’t anticipate how much of the job involves pattern recognition, storytelling, and forming contrarian but grounded views on where a field is heading. You’re constantly toggling between scientific depth and high-level strategic vision.”

“I am most surprised by how fast-paced and rapidly evolving the job is. The team has many new calls every day, while also having to study new technologies, keep up with the news, and manage the portfolio companies. I am learning a great deal about how to manage all these aspects of being a venture capitalist.”

“I have come to further appreciate how the venture framework is about asking the right questions rather than having all the answers. The best investors seem to pair scientific curiosity with disciplined judgment, which has given me a deeper appreciation for how to approach underwriting risk.”

“One thing that stood out is how hands-on and multidimensional the team is at every level. I expected sharp and high-level strategic thinking from partners, but it was refreshing to see just how engaged they are in the details; in every meeting, building models, debating sourcing strategies, refining TAMs.“

“I was most surprised by the rapid pace of innovation and how quickly the team collaborates to evaluate and act on exciting new opportunities. I also learned how important building relationships are in the VC world. it’s not only about finding good investments but also about fostering long-term relationships with founders and industry leaders.”

“I learned about F-Prime through a family friend. I decided to join as an intern because F-Prime gets to work with amazing biotech startups and help them grow as a business. Additionally, the culture at F-Prime is extremely friendly and everyone at the firm wants to help you be the best version of yourself.”
Applications for our 2026 program are not open yet, but if you are interested in learning more, please send an email to careers@fprimecapital.com.
From Shortages to Scale: Specialty Care in the AI Era
AmplifyMD’s $20M Series B fuels platform for scalable virtual specialty care.
We spend $1 of every $5 in the U.S. economy on healthcare. That’s exorbitant compared to most developed countries, where people live longer than we do at half the cost. Perverse incentives continue to drive unsustainable cost growth, with employer plans expected to grow by more than 9% in 2026. Our current model reduces employee take-home pay and saddles future generations with added debts to pay for today’s inefficient, fragmented system.
We need startups to clean up this unmanageable mess. To disrupt the current system, entrepreneurs must challenge health oligopolies (e.g., insurance carriers, PBMs, health systems) and chip away at the economic rent extracted by overpaid intermediaries (e.g., brokers, provider contractors, revenue cycle vendors). They also must build new platforms to enable efficient care delivery, powered by AI.
Provider shortages abound because the medical profession has long operated under an oligopoly and guild mentality, limiting the number of new physicians trained each year. Fortunately, technology now allows vastly more efficient distribution of provider time and talent, which could ultimately reverse the expected scarcity. The pandemic proved that care can be delivered effectively in virtual settings, despite primitive tools. As data has also become more portable, we may finally see the end of an era where provider systems hoard data to keep patients in high-cost settings and preserve unfair pricing power. Advances in software now allow “systems of engagement” to interface seamlessly with legacy “systems of record.” This opens the door to disrupting EHR monoliths and creating “new moats,” with AI poised to inject powerful new capabilities into outdated infrastructure.
These shifts create fertile ground for new platforms built for a digital-first, data-rich era, representing a new digital care architecture. AmplifyMD is one such platform – and today we’re thrilled to announce its $20M Series B financing. As an AmplifyMD director, I’ve seen firsthand how its EHR-integrated, AI-enabled virtual care platform helps health systems extend scarce physician capacity and drive material operational efficiencies. AmplifyMD allows specialists to practice anywhere, virtually treating patients in acute care settings and beyond, via its state-of-the-art platform. What began as a solution to expand specialist access in underserved settings has become a systemwide coverage solution trusted by some of the nation’s largest health systems—enabling physicians to extend their expertise without geographic limits.
The age of AI will further transform AmplifyMD’s product into an essential aspect of efficient and effective care delivery. The advent of superintelligent AI in medicine presents a golden opportunity for “creative destruction” to take root, but its potential requires modern platforms like AmplifyMD, which shift workflows from the in-person setting to always-on digital infrastructure. AI can enhance productivity and quality through clinical decision support today, and over time, may enable increasingly autonomous care delivery. This will give patients a greater ability to participate in decisions while receiving tailored treatment plans.
In the modern architecture of care delivery, AI agents will likely evolve to do the heavy lifting for all of us, freeing providers to focus on the highest leverage moments. With innovations like AmplifyMD’s platform, powered by this new financing, the industry can move toward greater access to high-quality care – an important step toward a system that respects our limits today while unlocking our innovative potential for tomorrow.
Axle Health
Axle Health is a healthcare technology company on a mission to revolutionize home-based care delivery through its comprehensive operations platform. Founded in 2020 by healthcare and technology veterans, including several former Uber executives who brought their logistics expertise to the healthcare industry, Axle Health’s AI-powered logistics platform enables healthcare organizations to efficiently deploy clinicians for in-home visits, improving patient outcomes while reducing operational costs. The company is headquartered in Los Angeles, California.
Beads
Beads specializes in offering a residential facility for end-of-life care for people who suffer from terminal cancer or intractable neurological diseases, enabling patients to spend their time in a comfortable way.
OncoveryCare
OncoveryCare delivers comprehensive, whole-person care to cancer survivors. As the population of survivors grows rapidly alongside advances in medicine, OncoveryCare provides the personalized, longitudinal care that cancer survivors need to lead happier, healthier lives. Founded by a breast cancer survivor and led by both clinicians and survivors, OncoveryCare’s first offering is a novel Cancer Transitions of Care program, equipping each survivor with a survivorship-trained clinical team and the essential tools and skills they need to actively manage their survivorship journey.
New Digital Care Architecture: The “Four Ds of Digital Health” Meet the “Two As of Automation”
Building on the “Four Ds of Digital Health”, two key automation advancements are being incorporated to make an impact: artificial intelligence and API-based services.
A new digital care architecture is transforming healthcare by integrating the Three Ds of healthcare delivery (doctors, drugs, and diagnostics) with data, AI, and API-based services, creating a more accessible, personalized, and efficient system for both patients and providers.
The modern healthcare delivery system requires a new architecture, powered by technology and tech-enabled services.
Key Trends Demand Systemic Change
Myriad trends are rendering our traditional care delivery system ill-suited to today’s challenges:
– Provider supply constraints cannot meet rising demand
– A system built around acute care is not well suited to managing chronic conditions
– Digital interfaces give rise to new modes of engaging in patient care
– Financing is shifting from fee-for-service to value-based models
– Expensive breakthrough therapies proliferate in pharma, biotech, and medical devices
– Administrative burdens have grown exponentially requiring better infrastructure
The design requirement for a new digital care architecture is clear: care must be more accessible, always-on via multiple channels that mix digital and physical delivery, tailored to the specific care plan of each patient. This requirement cannot be met in a world where traditional delivery systems focus more on consolidation for negotiating leverage than on making care affordable and/or easy to access.
Data as a Key Component of Care Delivery
Data deserves a full seat at the table alongside the traditional Three Ds of healthcare delivery: doctors, drugs, and diagnostics. Indeed, there now are Four Ds of Digital Health. Without accurate, robust, and real time data, it is not possible to get the care you deserve. When care can be personalized, the quality of the data is as important to patient health as everything else.
So, the era of asking “where does it hurt?” and starting from there no longer works because without rich information about your medical history, diagnostic testing, and the full complement of medical records that have accompanied your lifetime of care, practitioners cannot give you the best that medicine has to offer in a way that is convenient, reliable, and efficient. In many cases, your genetic profile, your family history, or insights from prior episodes of care are vital to ensuring that you get the right procedure, the right drug, and/or the right care recommendation.
This goes beyond the testing and data requirements of a given specialist. Yes, GI docs need to know inflammatory marker levels before creating a care plan, and cardiologists need real-time data on cardiac function and fluid status to fine-tune heart failure therapy. But, these providers also need to know what is going on for a patient across the care continuum, including plans and histories of the patient related to conditions other than the specific one they are treating. Similarly, primary care physicians need to know what is happening for a patient in all of these areas, particularly when there are multiple chronic conditions at play. Powered by AI tools noted below, physicians now access patient data via concise, cogent summaries of care episodes without wading through the “PDF graveyard” inside their EHRs (if they have that information available to them at all).
The “Department Store” Model Doesn’t Work
Health systems have responded to data challenges by suggesting simply that all the information should be housed in one medical record in a healthcare environment completely controlled by that one entity. Think of this as the “department store model.” Macy’s had one of everything, so you didn’t need to go anywhere else. Yet, consumers wanted more. They wanted a wider variety of brands, lower price points, and diverse channels. Hence, Amazon came along and former department stores are now being converted into housing for the elderly.

It’s a similar dynamic with health delivery. Large health systems seem to say, “Just never leave my four walls, and everything will be ok.” They hoard data if not required by the government to share it and their technology partners embrace this model. And this works for them. With everything under one roof, they can charge more for everything. Yet, research shows that as health systems get larger, the cost of any one service goes UP not down, while quality deteriorates. Adding insult to injury, patients cannot access these systems readily, due to a combination of supply constraints and process inefficiency. The bill for this inefficient model is borne by society broadly, via higher prices paid by employers, patients, and whoever prints T-Bills in the U.S. Treasury. Remarkably, even when everyone is using the same medical record, outcomes are not better with respect to cost or quality. Even with all the data in one place, the “department store” is still under-gunned compared to the power of the marketplace to deliver cost and quality to the end user (the patient).
A Better Solution: Unbundling Care Delivery, Powered by The Four Ds and Two As
Care delivery needs to evolve so that each patient is seen by the right provider at the right time, in a way that is convenient for patients.
Today, care is bundled in the form of large health systems, in part because the data is disparate and unbundled [1]. Once the data is put in one place and is comprehensive, accessible to anyone at any time, care delivery can be unbundled in a way that enhances value. When companies like Zus Health make data ubiquitous (mediated by privacy and consent) we can step away from data hoarding, mediated by health systems and their legacy technology vendors.

This allows an actual market to develop, so that healthcare can finally benefit from the economies of scale and the power of technology in ways that bear fruit in most other industries. The power of markets to generate new value propositions, breathtaking levels of cost reduction, and delightful consumer experiences is well known. Just look at anything you do with Amazon or e-commerce, buoyed by fintech and advanced logistics, we live in a world where almost anything feels possible in the retail environment.
Health care certainly is different than that. Most patients do not have the knowledge to make accurate shopping decisions in the healthcare context, but that’s changing given the proliferation of AI tools which depend crucially on access to data. Additionally, when data is unified, care can be unbundled, which means that you can seek advice from any care provider, liberating you from the slog of what primary care has become in large health systems today, allowing you to access new modes of care that are better tuned to the realities of life today.
What kills patients is not so much acute episodes or infections, important as those care moments can be, as chronic diseases, best addressed by persistent, more available solutions.
This looks like comprehensive primary care that is more convenient for you because it sits in the palm of your hand, available all the time, provided by companies like Firefly, Oak Street, or Aledade. These “medical homes” take risk for total costs, so they invest in a longitudinal relationship; as “health fiduciaries,” they are accountable both for health and cost. These entities manage their patients proactively, developing rich user experiences for accessing care virtually or in-person and navigating the system on behalf of their patients, including partnerships with specialized care providers. If a patient has an eating disorder, the medical home can ask Equip to address it; GI issues can be handled by Oshi; while patients on a fertility journey access Carrot. This type of dynamic and integrated care provision is made possible when all participants can read from, and write to, the same dataset and coordinate seamlessly. Unlike an all-in-one department store like the Mayo Clinic, this model provides an open network, where a marketplace can emerge with richer, more tailored and higher value services, mediated by an organization accountable for your health and your budget. Fluid data enables this.
The four Ds of digital health will unlock new opportunities for quality and cost improvement and many of the startups featured at the HLTH conference illustrate this. The Four Ds themselves, however, are not enough. That is why I am adding to the framework The Two As of Automation.
The Two As of Automation: “The Big A” and “The Other A”
Automation is about making sure that work is performed reliably, consistently, and in a cost effective way. With automation, care providers and the companies they work with can get things done at the touch of a button, or – better yet – without pushing a button at all.
So, what are the Two As of automation? These can be broken down into “The Big A,” the one everyone can’t stop talking about, which is artificial intelligence. But true transformation of the care delivery system also requires “The Other A,” API-based services. Pranay Kapadia, CEO of Notable, previewed this post and explained that “agents” perhaps could be their own “A” in this framework; they straddle the line between APIs and AI and represent a key innovation vector.
When data is unified and care can be unbundled, then every care provider can operate independently. Doing this efficiently requires automation, which scales best with a marketplace of B2B services to get all sorts of work done.

There are enormous staffing shortages in health care that drive outrageous costs for human beings to do tasks essential to our care. However, increasingly, many of these tasks actually can be done at scale by others just as an Uber ride to the HLTH convention involves APIs for payment (Stripe/Braintree), navigation (Google Maps), and communication (Twilio).
Similarly, every healthcare provider will be able to access via APIs for high-quality and scaled services in areas like scheduling, pre-authorization, patient payments, clinical decision support, remote care management, Rx delivery, and referrals to a plethora of other care providers, who themselves are able to take part in a seamless care journey because everyone can access and contribute to the same datasets. Devoted CEO Ed Park, commenting on a draft of this post, noted that what makes The Two As important is that they can accomplish specific tasks right when they are needed, such as a doctor confirming that a pre-procedure checklist has been completed or a patient finding out precisely where to go for a lab result [2].
Embrace The Failure of Imagination
As Chris Dixon has shown, new innovations usually run into the obstacle of humans’ inability to really comprehend all that technology can do once it has been invented. When the telephone was invented, people at first said, essentially, “Wow, that’s cool, but no one will use it because the telegraph already handles everything.” When the TV was first built, no one could think of anything to do with it initially other than film plays with one camera. No one thought about multiple cameras or going outdoors, let alone adding special effects. It was a failure of imagination, which tends to accompany any new breakthrough technology.
Healthcare now faces the same failure of imagination. Why shouldn’t the care plan sit not just on your smartphone but also on your watch to remind you when it’s time to take medication, to tell you when your activity levels do not align with your exercise goals, and to reach out proactively with a loving AI-driven voice to ask you how you’re doing and give you the opportunity to share your experience, gain reassurance, and make sure you are moving in the right direction with your behaviors, which are as vital to your health as anything? I don’t know what will come of a world where data and care can be unbundled and fully synchronized, but I’m quite sure it will involve profoundly beneficial innovations.
Modern healthcare organizations will innovate based on access to complete data. They will depend vitally on rapidly emerging foundation models and AI tools to support care delivery. Furthermore, a proliferation of services can be integrated into their platforms by technologists using a simple line of code that references these multifaceted services.
The Four Ds and The Two As will bring us a health care future that is unrecognizable today. Crucially powered by privacy and consent, each patient will be able to choose a medical home that is always-on and available, which can help navigate a marketplace of specialized providers/services/apps based on individual care plans.
All-in-One Care To Integrate Digital and Terrestrial Delivery
The goal is a seamless, all-in-one care experience that is delivered via a broad marketplace of providers who can offer tailored care to our individual needs; just ask Lionel Richie.
Many people have comorbidities, which require thoughtful guidance and planning from knowledgeable care providers, which is the heart of primary care. But these care providers do not need to operate inside the bowels of large medical buildings that are hard to find without access to complete information about your care, including the care that has been provided to you outside of their own four walls.
There will be a plethora of data sources that will complement these decisions, including “omics” and diagnostic data and even data from wearables and patient reported outcomes. Today, this data often frustrates care providers because they lack the training to utilize it effectively and do not have the time to incorporate it into your care planning. Hence, they will depend on AI to do the long slog of reviewing data tirelessly, understanding implications for the care plan, looking for deviations of key measures from safe thresholds, and then making the work easy for the care provider to integrate into the care plan and provide the patient with the right advice and new recommendations to keep us all on the right track .
If the goal is to Live to 100, or Die Trying, this will be achieved only with a modern digital care architecture that is convenient and low cost. This system must harness the full power of AI to continuously monitor your health while you enjoy life, only interrupting you when necessary to keep you on the right track. Health equity demands that healthcare is made radically more accessible, effective, and affordable. A world where data has a prominent role, treated as essential to your care as a doctor, lab, or pharmacist, is a crucial first step. However, only with automation powered by AI and API-related services can anyone keep up with the demands of healthcare and deliver the quality of care you deserve.
So, let’s build a new health system where anything a provider or a patient needs is accessible via automation, powered by the data that is crucial to each person’s health. With the right infrastructure at our disposal, all it will take is some imagination.