From HLTH2023: 3 Companies that are Leading the Charge in Tech Meets Wellness
HLTH 2023, the most prominent global conference dedicated to health tech, held its largest-ever conference earlier this month in Las Vegas. The health tech industry is worth over $350 Billion, and the wellness industry is estimated to grow to over $7 trillion in 2024. It’s an area more venture firms are investing in. Three companies stood out in their approach to bridging both industries in new ways, as announced last week.
This Finnish company, also headquartered in the US, was founded ten years ago and is known for the Oura ring, which monitors heart rate variability, temperature, activity, and sleep. Many users find the data around how their sleep is affected by things like alcohol and caffeine insightful. A recent partnership with Natural Cycles positions Ōura as a wellness company with clinical implications (it has FDA de novo clearance for contraception).
“We just came out with a new feature called experiments, which gives you a protocol to follow,” Tom Hale, Ōura’s CEO, told me. “[specifically for caffeine] It gives you a readout after the end of 14 days and allows you to compare it to a population of people who are also on the same protocol.” It effectively brings data to the n=1 experiments many of us already do but for caffeine.
Last week, they announced a novel approach to measuring stress (via small shifts in biometric measures) with three key features: daytime stress and reflections, as well as a planned additional feature called stress resilience, all to help users better understand the role of stress patterns in their lives. A new journaling feature called “reflections” allows for immediate audio or text-based reflections during periods of stress to better understand the causes as well as recovery.
They are also partnering with Headspace to further tackle stress.
It’s a lot for a company that began focusing only on sleep.
“I think of sleep as the foundation, and that was the company’s vision, but the original founders imagined it as a health ring more broadly,” Hale says.
Prenuvo, a company founded in 2018 by Andrew Lacy and Vancouver-based radiologist Dr Raj…