Tech companies have been expanding their efforts to revolutionize the health care industry by designing new tools for patients, doctors, consumers, medical researchers and insurers. They are also increasing their investments in health start-ups. Over the first 11 months of 2017, 10 of the country’s biggest tech firm were involved in healthcare equity deals worth an estimated US$2.7 billion, compared to just US$215 million in fiscal 2012. At the current rate, tech companies are on track to hit US$4 billion across 48 deals, a 5-year high in deals relating to healthcare startups.
The tech industry no stranger to healthcare, with tech giants such as IBM, Intel and Microsoft long providing enterprise services to the industry. But going forward, other tech companies have been more visibly focused on creating, or investing in, new types of technology for patients, doctors and consumers.