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Snapsheet Named to CB Insights Fintech 250 List of Fastest-growing Startups

CHICAGO, Oct. 25, 2018 /PRNewswire/ — Snapsheet, the industry-leading provider of virtual claims technology for the personal and commercial insurance marketplace, today announced that it was named to CB Insights Top Fintech Startup list, which highlights the 250 most promising private companies demonstrating financial stability, overall health and growth potential.

Snapsheet was one of only two companies in the insurance category focused on the Enterprise/B2B segment of insurance carrier and partner enablement. In total, just 20 companies of the 250 were in the insurance category.

“We began seven years ago as the insurance industry’s first mobile claims solution,” said Jamie Yoder, Snapsheet president. “Today, we are much more than a mobile claims application, we are reimagining and delivering a customer-first claims process with an intelligent, proprietary platform combining technology, data and people to deliver results in months, not years.”

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Innovent Biologics Raises $421 Million in Hong Kong IPO

Innovent Biologics Inc., a Chinese biotech firm backed by Temasek Holdings Pte, raised HK$3.3 billion ($421 million) after pricing its Hong Kong initial public offering near the top of a marketed range, people with knowledge of that matter said.

 The Suzhou-based company priced it sale of 236.35 million shares at HK$13.98 apiece, the people said, asking not to be identified because the information is private. The shares were marketed at HK$12.50 to HK$14 each.
Innovent’s offering will add to the $32 billion of first-time shares sales in Hong Kong this year, almost three times the amount during the same period in 2017, data compiled by Bloomberg show. This year’s three biotech offerings, from BeiGene Ltd., Ascletis Pharma Inc. and Hua Medicine, are all trading below offer price, the data show.
An external spokeswoman for Innovent said she couldn’t immediately comment.
Innovent’s final price implies a market value of $2 billion, according to terms for the deal obtained by Bloomberg earlier. The company expects to begin trading Oct. 31, a prospectus shows.
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Innovusion Raises US $30M in Series A Round and Starts Shipping the World’s First Image-Grade LiDAR System for Autonomous Vehicles

SAN FRANCISCO & SHANGHAI–(BUSINESS WIRE)–Innovusion, a leading developer of LiDAR technology for the autonomous vehicle markets, today announced it has raised about US $30 million in Series A funding, co-led by NIO Capital and Eight Roads Ventures in China, and F-Prime Capital in the U.S., in addition to seed round from Gaorong Capital and other strategic investors. On the heels of the funding, the company’s LiDAR system, the Innovusion Cheetah, is now available for ordering by customers worldwide. Innovusion Cheetah is the world’s first image-grade LiDAR system to support level 4+* (fully autonomous under certain operating conditions) autonomous driving solutions.

With the autonomous vehicle market expected to reach US$80 billion by 2035, LiDAR — the sensor technology that allows self-driving cars to efficiently detect and measure the objects on the road around them — is essential for reliable, safe Level 4+ autonomous vehicles. Innovusion Cheetah LiDAR detects objects more than 200 meters away and generates an exceptionally dense point cloud (300 lines), more than double of that of other providers in the space, while maintaining a high frame rate and achieving low-cost in high-volume production. Innovusion is ramping production to meet worldwide demand starting in Q4 2018.

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Cytek Biosciences Debuts Advanced Flow Cytometry System that Breaks the Cost Barrier

FREMONT, Calif., Oct. 23, 2018 (GLOBE NEWSWIRE) — The door to discovery has been opened, and the traditional flow cytometry market is set to see a paradigm shift. With its new Northern Lights series of advanced flow cytometry systems, Cytek Biosciences Inc. is making three lasers and more than 24 colors possible at a price point typically attached to systems with far fewer capabilities. Cytek™ Northern Lights is the latest in a series of technological advances that furthers Cytek’s mission to make full-spectrum flow cytometry accessible to a larger number of scientists. And they aren’t done yet.

There is a pressing need for increased access to intuitive, high-capability flow cytometers and the deep biological insights that they bring. In fact, rapidly growing areas of research – such as CAR-T cell therapy and immuno-oncology – are driving the flow cytometry analyzer market, which is expected to grow to more than $1 billion dollars by 2020.

Incorporating the same spectral technology that Cytek has become known for in its flagship series, Cytek™ Aurora, Northern Lights offers a value-added package with capabilities that go beyond flow cytometry systems with a much higher price tag. For example, with Northern Lights, scientists can now extract the same amount of information from one sample that would take three or four tubes using a conventional cytometer with a similar price. With this extraordinary price-performance ratio and low total cost of ownership, Northern Lights sits in a sweet spot for scientists that have budgeted for a one to three laser system – but desire the ability to run panels that range from lower to higher complexity.

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Kyruus Announces Launch of ProviderMatch for Salesforce on the Salesforce AppExchange to Help Health Systems Deliver Optimal Access Experience

BOSTON–(BUSINESS WIRE)–Kyruus, a leader in provider search and scheduling solutions for health systems, today announced the availability of ProviderMatch for Salesforce, which integrates into Salesforce Health Cloud on the Salesforce AppExchange. The solution enables access centers to deliver a personalized, end-to-end patient experience by combining Salesforce’s 360 degree view of the patient with Kyruus’ robust matching, appointment booking, and provider data management capabilities.

The launch of ProviderMatch for Salesforce accompanies a strategic investment in Kyruus from Salesforce Ventures, the global CRM leader’s corporate investment group. With access centers serving as a key “front door” to health systems, the two companies have already seen significant demand for the combined offering of ProviderMatch and Health Cloud.

“In healthcare, customer relationship management starts with the first point of contact – when a patient seeks access to care at a health system,” said Matt Garratt, Managing Partner at Salesforce Ventures. “Kyruus has built a platform that enables health systems to match and book patients with the right providers. We’re especially excited to invest in the company because they’re unique in facilitating this service across all access points.”

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Gene therapy biotech Orchard Therapeutics sets terms for $200 million IPO

Orchard Therapeutics, which is developing stem cell gene therapies for rare diseases, announced terms for its IPO on Tuesday.

The London, United Kingdom-based company plans to raise $200 million by offering 13.3 million ADSs at a price range of $14 to $16. At the midpoint of the proposed range, Orchard Therapeutics would command a fully diluted market value of $1.4 billion.

Orchard Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol ORTX. J.P. Morgan, Goldman Sachs and Cowen are the joint bookrunners on the deal. It is expected to price during the week of October 29, 2018.

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US HealthVest is Developing a New Behavioral Hospital on Hendricks Regional Health Plainfield Campus

INDIANAPOLIS, Oct. 17, 2018 /PRNewswire/ — US HealthVest announced the development of Indianapolis Behavioral Hospital, a new stand-alone behavioral hospital that will provide a full continuum of specialized inpatient and outpatient mental health care to patients of all ages. The new hospital will be located on the campus of Hendricks Regional Health in Plainfield, Indiana.

“We are excited to work in collaboration with Hendricks Regional Health to bring these vital services to the community,” said Richard Kresch, M.D., President and CEO of US HealthVest.  “Indianapolis Behavioral Hospital will treat the increasing and unmet need for specialized mental health services in the growing Indianapolis area.”

The facility will provide behavioral health and addiction treatment services to all patients, regardless of ability to pay. Comprehensive services will include free 24/7 assessments, inpatient care and intensive outpatient services. A full range of specialized programs will be offered, such as a Women’s Program, a Youth Program, a Co-Occurring Disorders Program, a Geriatric Program and a Psychiatric Intensive Care Program.

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Devoted Health, New Medicare Advantage Business, Raises $300 Million

As open enrollment for Medicare began Monday, in one of the largest healthcare company fundraises of the year, Medicare Advantage business Devoted Health says it’s raised $300 million in a Series B round led by Andreessen Horowitz.

“The problem is the fact that the system itself is fundamentally not designed in a patient-centric way,” wrote cofounder Ed Park in a post on LinkedIn Tuesday. “People are stuck ping-ponging among an assortment of well-meaning primary care doctors, specialists, hospitals, and other facilities, resulting in a patient experience that is highly uncoordinated, fragmented, and reactive, compounded by administrative hassles that seem to emerge from every corner.”

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TraceLink Announces Availability of End-to-End DSCSA Saleable Returns Verification Solution for Pharmaceutical Manufacturers and Wholesale Distributors

NORTH READING, Mass., Oct. 16, 2018 /PRNewswire/ — TraceLink Inc., the World’s Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced availability of its end-to-end saleable returns verification solution for pharmaceutical manufacturers and wholesale distributors, including a verification router service (VRS) and  master data sharing capabilities built on its new Product Information Manager network application, as well as Edge functionality for processing saleable returns. TraceLink will be showcasing the solution this week at the Healthcare Distribution Alliance (HDA) Traceability Seminar in Washington DC.

For pharmaceutical manufacturers, TraceLink’s new saleable returns verification solution with master data sharing can be used to distribute product master data to direct and indirect trading partners, while the VRS enables the ability to respond to wholesaler verification requests. For wholesalers, the solution is used to access product master data from its suppliers and VRS is employed to look up the location of a manufacturer’s VRS and to submit verification requests. In the warehouse, TraceLink’s Smart Inventory Tracker and Serialized Event Manager facilitate the scanning and verification of serialized returns that can be resold.  The pre-integrated set of applications with master data sharing, VRS, serialized event management and mobile scanning provide wholesalers with a full, end-to-end solution suite for meeting the November 2019 Drug Supply Chain and Security Act (DSCSA) saleable returns requirement.

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Flywire Makes Cross-Border Payments from India Easier

BOSTON and MUMBAI, India, Oct. 16, 2018 (GLOBE NEWSWIRE) — Flywire, a company that solves complex payment problems for leading businesses and institutions, today announced a simpler way for students in India to pay tuition fees to global universities. Leveraging the framework established by the Reserve Bank of India (RBI), Flywire, in conjunction with Deutsche Bank, is among the first companies of its type to streamline the onshore collection of Indian Rupee for student fees. This enables Flywire to digitize the cumbersome paperwork and declarations typically required for transferring funds abroad from India.

The new simplified process became available August 1, 2018  for payments to any institution using Flywire to process international payments. Remitters will be able to leverage a fully automated workflow for submission of documents and declarations, eliminating the need for a multi-step manual process. This offers substantial time-savings for remitters while ensuring compliance with existing regulations.

“We’re very pleased to be able to work with Deutsche Bank to offer this option to make cross-border transactions easier for Indian students and their families,” said Ryan Frere, vice president of global payments for Flywire. “India is one of the fastest-growing source countries for international students in the world and we strive to offer the most convenient and efficient local payment methods – no matter where they originate.”

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