Global Digital Health Intelligence Company Galen Growth and Integrated Marketing Agency FINN Partners Combine Strengths to Magnify Insights for the First Global State of Digital Health Report
An inaugural Galen/FINN Joint Study to be Released this November at HLTH Will Enable Investors and Strategic Partners to Separate “Hype” from Hope to Determine Resource Priorities
Practical Value of Digital Solutions to Accelerate Access to Care and Improve Patient Outcomes Will be Highlighted
NEW YORK, NY, Oct. 25 2022 – Galen Growth, the leading digital health, data-driven market intelligence company, and FINN Partners, a global integrated marketing services agency, announced a joint effort to mine data and produce the first “Global State of Digital Health Report”. The first report drawing input from some 200M data points and more than 12,000 digital health ventures across the globe, will be released at the November HLTH Conference in Vegas, NV. The second report will be available in January 2023 at the JP Morgan Healthcare Conference in San Francisco, CA, as part of the Future & Health Event. Additional quarterly reports are anticipated throughout the coming year.
With this partnership, experts from the FINN Global Digital Health Group are working side-by-side with Galen Growth data and research professionals to chart the complex and often fragmented digital health landscape; emerging market trends, areas of growth and innovation, and look beyond equity funding to explore what’s expected to happen in this fast-paced digital health sector. The combined team will look beyond the “hype” of digital to map the priority and practical opportunities for decision-makers.
Often public reports tend to cherry-pick data. The Galen/FINN “Global State of Digital Health Report” shows verified trends, including:
- While 2022 digital health venture capital has not matched the skyrocketing value of 2021, a closer look at year-on-year Q1 – Q3 funding by development stages reveals that capital infusion in 2022 exceeds 2021 values for the Early Stage and Series A funding rounds. It increasingly lagged in 2021 values across later funding stages.
- More than 60% share of the total venture funding value comes from North America. But on a regional level, the Middle East set record-breaking amounts of venture funding in Q2 2022. Europe maintains momentum throughout 2022 and has not experienced the quarter-on-quarter decrease in venture funding seen in North America.
In the shadow of the pandemic, tremendous investment poured into digital health. The digital health sector has grown significantly during the past decade, with $2 billion invested in 2011 and $44 billion in 2021 by the global financial and corporate markets. But in the past year, investors have been more selective in their decisions. The “Global State of Digital Health Report” will examine those shifts and outline best practices in investment strategies.
The first of the two reports will lay the groundwork for future reports recapping the year-to-date in digital health and focus on global investment insights, categories, and therapeutics, to name a few themes that hold great potential to benefit from digital applications and 2023 trends.
“With the slowdown of venture funding in 2022, digital health is anchoring back to reality, becoming more focused, and demanding more verification that ventures are offering solutions that will bring value to the digital health ecosystem,” said Julien de Salaberry CEO and Galen Growth co-founder. “This joint report with FINN Partners will explore how ventures are meeting those challenges and preparing to show evidence to demonstrate the effectiveness of their solutions.”
“FINN Partners is thrilled to pair with Galen Growth to take a deeper look at the Digital Health landscape,” said Ritesh Patel, Senior Partner, Global Digital Health Lead at FINN Partners. “The rapidly expanding digital health ecosystem must be leveraged to improve patient outcomes. This series of studies will help inform the choices providers, payers, product innovators and patients will need to make in the coming years.”
FINN digital health leaders will lend their perspective, analysis, and guidance to supplement the data and insights developed by the Galen Growth team to help guide stakeholders as they navigate and engage with the global digital health landscape.
“The health system has been long resistant to change. Health information – delivered across digital platforms – has altered the patient care pathway and shifted the tone and expectation among decision-makers navigating the fragmented health ecosystem,” said Gil Bashe, Chair Global Health and Purpose, FINN Partners. “The Galen Growth/FINN Partnership will offer insights to the sector – private and public – that will hopefully rally investors and innovators to ideas that can sustain and save lives faster.”
About Galen Growth
Founded in 2016, Galen Growth partners leading companies for their digital health market intel and insights needs. With comprehensive data, empirical research and expert insights, the company help global organizations reach the optimal solution for their business transformation, discover the latest trends in digital health and strengthen their innovative know-how. HealthTech Alpha, Galen Growth’s proprietary platform, is the world’s leading digital health private market platform, powering how leaders and corporations make digital health decisions.
Headquartered in Singapore, Galen Growth has offices in Basel (Switzerland), Boston and Chicago.
Please find us at galengrowth.com and follow us on Twitter at @galengrowth and https://www.linkedin.com/company/galen-growth/.
About FINN Partners, Inc.
Founded in 2011 on the core principles of innovation and collaborative partnership, FINN Partners has grown from about $24 million in fees to almost $200 million in fees during the past 10 years, becoming one of the fastest-growing independent public relations agencies in the world and recognized as a PRovoke Media 2022 Agency of the Year. The full-service marketing and communications company’s record-setting pace results from organic growth and integrating new companies and new people into the FINN world through a common philosophy. With more than 1,300 professionals across 33 offices, FINN provides clients with global access and capabilities in the Americas, Europe and Asia. In addition, FINN provides its clients with access to top-tier agencies worldwide through its membership in the global network PROI.
Headquartered in New York, FINN has offices in: Atlanta, Bangalore, Beijing, Boston, Chicago, Delhi, Denver, Detroit, Dublin, Fort Lauderdale, Frankfurt, Guam, Hong Kong, Honolulu, Jerusalem, Kuala Lumpur, London, Los Angeles, Manila, Mumbai, Munich, Nashville, Orange County, Paris, Portland, San Diego, San Francisco, Seattle, Shanghai, Singapore, Vancouver and Washington D.C. Find us at finnpartners.com and follow us on Twitter and Instagram at @finnpartners.
Contacts:
FOR GALEN GROWTH:
Lawrence Wurtz, General Manager, North America
lawrence.wurtz@galengrowth.com or info-usa@galengrowth
FOR FINN PARTNERS:
Celia Jones, Global Director, Marketing Communications
celia.jones@finnpartners.com
+1 773 885 9781
