STAT+: Freespira bets on slow and steady, amid spectacular digital health collapses

Many digital health companies have crashed and burned after promising investors speedy adoption and huge revenues. Freespira, maker of a software- and device-based treatment for panic and post-traumatic stress disorders, has taken a different strategy: Slowly build to profitability a few thousand patients at a time.

Freespira CEO Joe Perekupka told STAT the company believes it will break even by the end of 2025 and will become cash flow positive in 2026. Freespira recently raised $10 million to fuel its growth and to make product improvements that will eventually reduce costs. Perekupka said Freespira hopes to enroll 2,500 people in its treatment this year — twice last year’s sales — and to double its patients again in 2025 and 2026. The Kirkland, Wash.-based company was founded in 2013 and has raised $60 million to date. Perekupka declined to disclose a valuation or whether it increased with the most recent fundraise.


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