Company Livongo, a developer for diabetics help and control over this illness, appears to be planning a huge business growth, attracting many investors.
It has been recently announced that the company has received massive investments (the precise sum hasn’t been mentioned) from a large diary producer Humana. These investments are aimed at “supporting company development”, as it was claimed in the announcement. Earlier the company has already received $79.5 million investment; specifically $44.5 million was received last month. The list of investments is rather long, predominantly they are venture investments.
A new offer of Livongo, named as Livongo for Health, consists of a range of medical devices provided to consumers, a smart cloud system and a team of virtual medicine. The device In Touch used in this solution is both a glucometer and a pedometer. It can be used by a patient and a doctor simultaneously and by all members of the family. This device that looking like a thick smartphone has a big colour screen and works using a mobile network. The bands for the glucose level testing are provided in any quantity without any extra fee.
Since the company started its commercial activity the number of users grew from 5000 to 10 000 and it is expected that about 40 000 diabetics will use the device by late 2016. Furthermore, the company suggests expanding its offer and it is going to provide medical support not only for diabetics but also people with other chronic illnesses, precisely hypertension and excess weight.
Mainly the company works with large employers and has already concluded more than 50 large-scale contracts.