Comprehensive List of 132 U.S.-Listed Publicly Traded Digital Health and Health AI Companies: Both Dead and Alive

This is the most comprehensive list of 132 U.S.-exchange listed publicly traded digital health and health AI companies.

Last update: January 8, 2025.

For those fascinated by digital health, AI in healthcare, or looking to understand the systemic issues in American healthcare and how to fix them, this spreadsheet complements my recent Substack article, "How Venture Capital Mass Murdered Digital Health Startups."

In the spreadsheet, I outline digital health companies that have been listed on U.S. public markets for at least the past five years.

Note: Only U.S.-exchange publicly traded healthcare companies where AI and/or information technology are integral to their operations or revenue are included in this list. For example, a biotech company using deep learning to develop new gene therapies would qualify as digital health and therefore be included. However, a biotech company that does not utilize AI or IT for its core business, even if it is otherwise tech-savvy, would not be part of this list.

For each company, the following fields are included:

• Company name
• Ticker
• Funding source: VC-backed (VC), private equity (PE), institutional (INST), angel (ANGEL), bootstrapped (BOOT), parent (PARENT), or spun off (SPIN).
• Status: Active (ACT), delisted (DELIST), bankrupt (DEAD), or acquired/merged (ACQ)
• IPO date
• Delisting/M&A date
• Net earnings Y(0) (in $) - Net earnings (also referred to as net income or net loss) in the final year of the company's existence.
• Net earnings Y(-1) (in $)
• Net earnings Y(-2) (in $)
• Net earnings Y(-3) (in $)
• Net earnings Y(-4) (in $)
• Net earnings over 5 years (in $ mln) - The total net earnings during the final five years of the company's existence.
• Market value at IPO (in $ mln)
• Market value Y(-5) (in $ mln) - Market value 5 years ago, provided the company existed at that time.
• Market value last (in $ mln) - The company's latest market value: as of the close of business on 12/20/2024 if it still exists as a separate entity, acquisition value if it was acquired/merged, or zero if the company is bankrupt or defunct.
• Market value change (in $ mln) - The change from either the market value at the IPO or 5 years ago (whichever is more recent) to the latest market value.
• Market value change (in %) - I.e., the company's market return calculated from either its IPO or 5 years ago, whichever is more recent.
• Notes 1
• Notes 2
• Notes 3

Data Sources:

• Earnings Data: Yahoo Finance and the SEC.
• Market Data: Yahoo Finance and stockanalysis.com.
• For market values at acquisition/merger, I referenced press releases and related news articles.
• Funding Source Data: Compiled from multiple sources, including Crunchbase.

Cross-Sectional Sample Distribution:

Sample Overview:

• Total: 132 U.S. exchange-listed digital health companies.

Funding Types:

• VC-backed: 59 companies.
• PE-backed: 28 companies.
• Institutionally backed: 5 companies.
• Non-VC-, PE-, or institutionally-backed: 40 companies, further divided into:
• Bootstrapped (i.e. self-financed): 25 companies.
• Angel-funded: 5 companies.
• Parent financing entity: 4 companies.
• Spun off: 6 companies.

Outcomes:

• Bankrupt: 11 companies.
• Delisted: 2 companies (primarily due to value destruction to nearly zero).
• Merged or Acquired: 26 companies.

Thank you for supporting my research. Wishing you Happy Holidays! 🎄✨🎅🤶❄️🎁🥂🎉

Warm regards,

Sergei

P.S. Connect with me on LinkedIn, Substack, X (formerly Twitter), and TikTok.

P.P.S. Before purchasing this product, please note that Halle Tecco, a highly respected digital health expert, offers her own list of digital health companies, which also includes private ones: https://halletecco.gumroad.com/l/digital-health-startups. While I believe our products are complementary, I want to clarify that I have no affiliation with Halle or her product. I hold her work in the highest regard and thought you might also find her resource valuable.