Huma is a healthcare startup. It's recently made the news in business circles when it received a financial boost of more than a hundred million. The infusion of funding allowed the company to double the outreach efforts for some hospitals in its locality to help those struggling amid the covid-19 pandemic in the healthcare industry. The outbreak is still a matter of great concern in the United Kingdom and other parts of the world. If you're not familiar with this enterprise, here are 20 things you probably didn't know about Huma that will bring you up to speed.
1. Huma is a British health start-up
According to CNBC News, Huma is a fairly new company that is entering into its tenth year of existence. It was founded in 2011 under the name Medopad. Since that time it has legally changed the name of the company to Huma. Huma is headquartered in London, England.
2. Huma is a med-tech enterprise
Human specializes in the development and distribution of software Most recently the products are used for clinicians to monitor patients remotely through a mobile app. It is compatible with a broad assortment of wearables as well as other devices that are used to gather essential health data about patients including, but not limited to oxygen saturation and heart rate.
3. How Huma has doubled the outreach capacity for some UK hospitals
Huma's software products allow physicians and other healthcare workers to detect any deterioration in the health status of a patient through the unique remote monitoring system. The available information is useful for determining whether or not, or when a patient should proceed to a local hospital. With the overcrowding in some facilities, it's been helpful to know when a patient is in danger and should be seen immediately. It also helped to cut down on the number of non-essential hospital examinations performed, to keep crowding down, and give the healthcare workers a break from non-emergency situations. Physicians have been able to see twice as many patients with the help of Huma.
4. Huma maintains an academic research division
There are two main focuses for Huma. The first is the provision of useful health care monitoring software that is compatible with monitoring devices for keeping tabs on the condition of a patient remotely. The second is an academic focus. Huma is big into academic research. It works with the National Health Service of Britain, as well as the governments of the United Arab Emirates and the government of Germany.
5. Huma has a heart for humanity
Another outstanding feature that sets Huma on a higher plane than some startups in its heart for the needy. The firm is committed to helping out during the Covid pandemic and has offered its services to the National Heal Service of Britain on a pro bono basis during the crisis. This shows that the company culture is one of caring and goodwill towards the citizens of the world. Long-term supporters and investors support the move to provide free services where they are needed.
6. Huma has reduced the rate of hospital admissions
Thanks to the aid provided by Huma's technology physicians could provide many services that they would at a hospital into the homes of patients. During times when hospitals were filled to their capacities and overflowing with covid-19 patients, admission rates were cut by a third as doctors provided a service that was called "hospital at home." The National Health Service confirmed that doctors in London increase the number of patients see per hour from 12 to 20 on average, with time spent per patient at about 3 minutes in most cases.
7. Huma is working with the German government for free
In addition to helping the British hospitals pro-bono, Huma also signed an agreement with the German government to help out with the pandemic response effort. During the crisis, there is a deal in place that provides not-for-profit agreements to provide technology to help out while the government of Germany agreed to help cover the costs through its public health arm.
8. Huma is listed across four industry categories
According to Crunchbase, Huma is a diverse enterprise that is categorized across four industries. The main focus is on management information systems and information technology. It is also listed in the health care and health categories. It is a global health tech company that has developed a modular platform that supports digital hospitals at home. the technology provides real-world data to advance predictive and proactive care and research through a combination of predictive algorithms and digital biomarkers.
9. Huma is not the legal name of the company
Although this company is unofficially referred to as Huma, the legal name is Medopad Ltd. It is also known as Medopad and Huma Therapeutics. The co-founders are Dan Vahdat and Rich Khatib.
10. Huma is a series C venture capital-backed enterprise
Huma has participated in 6 rounds of venture capital funding. The most recent round closed on May 11, 2021. It was a Series C round that brought the total amount of VC funds raised to $184 million.
11. Investors have high confidence in Huma
Huma is backed by some of the largest VC investment groups in the world today. It is backed by 14 investors with 4 lead investors. The first round of venture capital funding closed on January 1, 2016, in a Seed round raising $1 million. This was followed by a series A round on February 2, 2018, and April 23, 2019, raising $28 million. A Series B round closed on November 5, 2019, raising an additional $25 million, led by Bayer. This was followed by two Series C rounds raising an additional $130 million announced October 14, 2020, and closing on May 11, 2021.
12. Huma has 14 investors
There are four lead investors actively involved in raising investment funds for Huma. These include Hitachi Ventures, Leaps by Bayer, Bayer, and NWS Holdings. They were joined by the Sony Innovation Fund, Unilever Ventures, Nikesh Arora, HAT Technology and Innovation Fund, Samsung NEXT, Michael Diekmann, Tom Chapman, and several other anonymous investors. Confidence in Huma's ability to grow, expand, and provide a good return on investments is high among its investors. The enterprise is having no difficulty raising funds to support expansion and further research and development efforts, especially for promoting their humanitarian efforts to help ease the burdens placed on the medical profession by the current pandemic.
13. Huma acquired Sherbit
The first acquisition made by Huma was a company called Sherbit. The deal closed on September 11, 2018. Sherbit is an Emeryville, California-based enterprise that helps care teams, health plans, and clinics in tackling chronic conditions by providing actionable insights and providing real-time data. Although the purchase of the company was completed back in 2018, no details of the agreements or the cost of the company were disclosed. It is assumed that the United States-based business operates as a subsidiary of Huma.
14. Huma acquired Tarilian Laser Technologies
The second acquisition made by Huma was on April 16, 2020. It acquired Tarilain Laser Technologies, a Hereford, Herefordshire, United Kingdom business. TLT specializes in pioneering an innovative breakthrough in blood pressure monitoring. This is one of the essential health indicators necessary for allowing doctors to monitor the health status of patients from home remotely as blood pressure is an essential function and can signal if there are serious health conditions in play that could require the need for hospitalization or a visit to the hospital. It has been confirmed that Tarilian Laser Technologies will continue to operate as usual as a subsidiary company of Huma, however, the purchase price or other details of the acquisition agreement have not been disclosed.
15. Huma acquired BioBeats
On April 16, 2020, Huma acquired a company called BioBeats. The deal closed on the same date as the Tarilian Laser Technologies acquisition. BioBeats is a human company that specializes in the creation of digital artificial intelligence products. These products are designated for use in the mental health field to help tackle mental health issues on a global scale. BioBeats is headquartered in London, England, United Kingdom. The total funding amount for BioBeats is listed at $6.6 million. When Huma acquired the two healthcare companies in April of 2020, this was also the time that it rebranded itself changing its name from MedoPad to Huma.
16. Huma is led by an 8-member executive team
Huma has listed 8 profiles for its executive leadership team. Dan Vahdat is a co-founder and currently serves as the chief executive officer of Huma. Rich Khatib is a co-founder and serves as executive director. Paul Costello is the senior vice president of business development in the United States. Emily Deacon is the life sciences partnerships manager. Nicholas O'Donnell-Hoare is the product design lead. Jonathan Gledhill is the head of healthcare. dam Jones is a talent partner and leads the technology and product divisions, and Alex Senemar is the senior vice president of Huma.
17. Huma has a small advisory board
The board of Huma is comprised of three members. Claudia Suessmuth-Dyckerhoff is an active board member and advisor. This is her sole advisory role. Rt Hon Alan Milburn is the chair of PwC's UK Health Industries Oversight Board. He currently serves in 5 board and advisory roles. Shayan Zadeh is an investor who also sits on the advisory board of Huma.
18. Huma is hiring
According to LinkedIn, Huma has listed 7 job openings with the organization. The current workforce is 130 staff members working for the organization. All but one of the jobs listed are for workers who reside in the London, England area. There is one opening posted for the city of Standard, Illinois in the United States. This is a mid-senior level position that involves dealing with product delivery management in the United States. Although the company is adding to its workforce, there is not yet any indication of a significant expansion of its workforce just yet. The United States job focuses heavily on promoting Huma as a Software-as-a-Service company in the United States.
19. Huma has come close to achieving unicorn status
According to CNBC, Huma's latest round of venture capital funding has brought it one step closer to unicorn status. An anonymous source has disclosed that the company is just $70 million from reaching this elite status. Companies that reach a minimum of $1 billion in valuation join this exclusive group of billion-dollar companies which is a highly desired category. Although Huma isn't quite there, it could get there if it participates in one more round of venture capital funding that raises an additional $70 million. This is good news for investors, who have played their cards close to the vest in discussing the valuation of the company up until this time. Huma has opted not to make the financials a matter of public information at the preference of investors, however, it's hard to keep such good news under wraps.
20. Huma is a privately held company
At this stage of development, the owners of Huma have decided to remain a privately held company. This means that it does not appear on the world's stock exchanges. You cannot purchase shares of the company to add to your investment portfolio. So far, Human has done exceptionally well by leveraging venture capital investment funds to back its growth, expansion, research, development, and product distribution activities. It is close to a valuation of $1 billion. There has been no obvious benefit to filing for an IPO and taking the company to the public trading arena. There is no evidence of discussions about the possibility of becoming a publicly-traded entity. It's assumed that Huma will continue to maintain its private, for-profit status from its London-based home base and operations that have expanded into the United States.
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Written by Allen Lee
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