Digital health start-up Livongo has filed to launch the U.S. stock market in a bid to raise $100 million. It did so to expand its product outside the diabetes market when it has no reach.
Livongo offers a smartphone-connected meter, which automatically delivers testing materials, with real-time coaching and monitoring. It provides a personalized message to patients monitoring and tracking their blood glucose called “health nudge”, which is based on Livongo’s artificial intelligence technology.
Last week, the company filed for the IPO bid with the US financial regulator, stating that it has also been working on providing services for other medical conditions, such as pre-diabetes, hypertension and weight management, and a behavioral health product known as “myStrength.”
Livongo said its mission is to reduce the prevalence rate of chronic medical conditions by providing patients useful insights in order to live a healthier life.
Livongo has also been noted for its association with Eli Lilly. They signed a deal in January last year to conduct real-world studies for providing new insights into diabetes. The studies aim to combine real-world behavioral methods and insurance claims data to enrich knowledge about effective interventions in diabetes care.
Goals include measuring the impact of remote diabetes self-management education and support on clinical and healthcare cost outcomes.
According to a 2017 study of Livongo’s digital diabetes care program, people who used their product experienced a “decreased likelihood of high and low blood glucose reading, with an average 16.4% decrease in high blood sugar and an average 18.4% decrease in the likelihood of having a day with low blood glucose in the study population.” The study was published in the Journal of Medical Internet Research.
