Perhaps it should be no surprise, but with the COVID-19 pandemic shining a spotlight on telehealth, and Congress putting hundreds of millions of dollars into FCC telehealth programs, venture capital funding of digital health tech deals hit a record for Q1 2020.
For Q1, the top investment category was telemedicine.
According to a new Mercom Capital Group report on M&A activity for the healthcare information technology sector, venture capital funding, including private equity, was a record $3.6 million over 142 deals through the end of March.
That was compared to $1.7 billion over 142 deals in the fourth quarter of 2019 and an increase of 79% compared to Q1 2019, when $2 billion funded 149 deals.
Among the companies investing in telehealth in Q1 2020 were Google, SoftBank and Bain Capital.