Leaps by Bayer leads USD 90 Million Series B financing in digital health company Ada Health
Ada Health combines medical knowledge with powerful AI to revolutionize possibilities for personal health for patients globally / Investment to support advancement of Ada’s symptom assessment and care navigation platform
Leverkusen & Berlin, Germany / Whippany, USA, May 27, 2021 - Leaps by Bayer, the impact investment arm of Bayer AG, today announces that it has led a USD 90 million Series B investment in Berlin-based digital health company Ada Health GmbH ("Ada"). Additional investors joined the round, including Samsung Catalyst Fund, Vitruvian Partners, Inteligo Bank, F4 and Mutschler Ventures.
The investment will help advance Ada’s popular health assessment technology, enabling the digital health pioneer to accelerate its path towards becoming the world's leading personalized operating system for health, as well as to further grow the company’s leading position in the United States. In addition to today’s announcement, Bayer and Ada Health are in discussions about entering into a longer-term strategic partnership to support the company’s healthcare businesses.
Ada Health has developed a powerful AI-based health assessment and care navigation platform that helps users to understand their symptoms, to identify and differentiate conditions with a high degree of medical accuracy, and to navigate safely to the right care, at the right time. Ada’s consumer app has become the world’s most popular and highest-rated symptom assessment app, with over 23 million assessments completed since its global launch.
Ada’s core technology is also available in a suite of AI-driven enterprise solutions. The company is collaborating with a range of leading health systems, insurers, life sciences companies, and global non-profit organizations to integrate its symptom assessment and care navigation solutions into a range of digital care journeys to improve outcomes for patients, consumers and healthcare providers.
"Investing in breakthrough technologies that drive digital change in healthcare is one of the strategic imperatives for Leaps by Bayer and for the entire field of healthcare," said Dr. Jürgen Eckhardt, Head of Leaps by Bayer. "Ada’s truly transformative technology, combining powerful artificial intelligence with an emphasis on medical rigor and high levels of clinical accuracy will lead the way in helping more patients and consumers in achieving better health outcomes sooner by intervening earlier in their healthcare journey."
The timely detection of diseases is one of the biggest challenges in guiding consumers and patients to appropriate care, with under-diagnosis, misdiagnosis, and long patient journeys to diagnosis and care unfortunately being commonplace. In addition, global healthcare systems are overburdened, with organizations required to meet pressures such as growing and ageing populations, emerging comorbidity requiring treatment, and the ongoing pandemic. Ada can help shorten time to diagnosis by providing medical guidance that is relevant, actionable and effective, and will increasingly leverage personalized data insights to support the prediction and prevention of diseases.
"Today’s investment will help bring us closer to our goal of improving healthcare outcomes for more than 1 billion people around the world. We’re proud to have investors on board who truly believe in Ada’s technology and vision of transforming the way people access healthcare," Daniel Nathrath, CEO and co-founder of Ada Health comments on today’s announcement. "We are thrilled to have Leaps by Bayer as the lead investor particularly as our values are very much aligned with putting science and technology as well as a commitment to medical quality and user-centricity at the heart of everything we do."
About Ada Health
Ada is a global health company founded by doctors, scientists and industry pioneers to create new possibilities for personal health. Its core system connects medical knowledge with intelligent technology to help all people actively manage their health and medical professionals to deliver effective care, and the company works with leading health providers and organizations to carry out this vision. The Ada platform has over 11 million users worldwide and has completed over 23 million assessments since its global launch in 2016. To learn more, visit www.ada.com
Follow us on social media: @adahealth
About Bayer and Leaps by Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses before special items amounted to 4.9 billion euros. For more information, go to www.bayer.com.
Leaps by Bayer, a unit of Bayer AG, leads impact investments into solutions to some of today’s biggest challenges in health and agriculture. The investment portfolio includes more than 35 companies. They are all working on potentially breakthrough technologies to overcome some specific challenges such as, e.g. regenerating lost tissue function, reducing the environmental impact of agriculture, preventing or curing cancer, and others.
For more information, go to www.leaps.bayer.com
Follow us on Twitter: @LeapsByBayer
Find more information at www.bayer.com.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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