New Startup Raises $100M for Portable Ultrasound • Hacker News Board

Re: New Startup Raises $100M for Portable Ultrasound

#21

Post by new299 » Mon, Nov 03, 2014, 3:47 PM UTC

sitkack wrote: post #20

new299 wrote: post #6

Rothberg is something of a character. His two DNA sequencing companies (454 and Ion torrent) have both had what I would consider successful exits (solid to Roche and Life technologies respectively). But more importantly both products made their way into the hands of consumers (which is actually rare for DNA sequencing startups). However after acquisition both products failed to gain significant traction (Roche has ju…

My only experience with Roche is that they buy promising new technologies and shutter them. First they purchase the product, then they invest, then they purchase the company then they shut it down.

This is really interesting. They certainly have a reputation for killing 454. What other companies have they done this with?

Re: New Startup Raises $100M for Portable Ultrasound

#22

Post by [deleted] » Mon, Nov 03, 2014, 3:55 PM UTC

ck2 wrote: post #4

Hope they destroy the industry. 10 minutes of ultrasound to diagnose a serious illness can cost several hundred dollars in the USA Maybe in a decade it can even be built into smartphones like a tricorder. This device already looks like it can plug into a smartphone http://www.mobisante.com/products/product-overview/

[deleted]

Re: New Startup Raises $100M for Portable Ultrasound

#23

Post by logicallee » Mon, Nov 03, 2014, 3:59 PM UTC

ceejayoz wrote: post #17

ck2 wrote: post #4

Hope they destroy the industry. 10 minutes of ultrasound to diagnose a serious illness can cost several hundred dollars in the USA Maybe in a decade it can even be built into smartphones like a tricorder. This device already looks like it can plug into a smartphone http://www.mobisante.com/products/product-overview/

> 10 minutes of ultrasound to diagnose a serious illness can cost several hundred dollars in the USA Chances are only a small portion of that is the cost of the ultrasound machine.

Yes you would think they expect to make their $100M back, and you don't do that 'destroying an industry'.

Also their raise ($100M) is an astronomical seed round, 100x what most companies would raise pre-product and pre-revenue in a first round. They clearly expect to deliver at volume on existing very high price points, or would not have raised this much money.

This isn't a few University kids disrupting an industry raising a few hundred k, this is an industry regular opening a division in it with $100M of his own money and that of a few investors.

Re: New Startup Raises $100M for Portable Ultrasound

#24

Post by [deleted] » Mon, Nov 03, 2014, 4:06 PM UTC

kanzure wrote: post #18

GE has a $9k version (Vscan), and Rothberg says he wants to make this for $6k ("1000 times cheaper [than a $6M MRI machine]" is $6k). Is that really a significant improvement? I guess any price competition is good, but I was hoping for a Here's some reports from someone who has been using GE's portable ultrasound machine: http://whyisamericanhealthcaresoexpensive.blogspot.com/2014/... http://whyisamericanhealthcareso…

[deleted]

Re: New Startup Raises $100M for Portable Ultrasound

#25

Post by dgreensp » Mon, Nov 03, 2014, 4:07 PM UTC

I have an ultrasound that we bought on eBay when my wife was pregnant.

The reason more individuals don't own them is that it's illegal! No company that makes ultrasound machines will sell them to a non-doctor, because of some kind of regulations. I believe they don't want people to think they can diagnose themselves when it actually takes a doctor. Whatever the reason, that's why more people don't own sub-$10k ultrasound machines, and omitting that fact to make the story one purely about the march of technological progress is poor journalism.

Re: New Startup Raises $100M for Portable Ultrasound

#26

Post by bglazer » Mon, Nov 03, 2014, 4:08 PM UTC

kanzure wrote: post #18

GE has a $9k version (Vscan), and Rothberg says he wants to make this for $6k ("1000 times cheaper [than a $6M MRI machine]" is $6k). Is that really a significant improvement? I guess any price competition is good, but I was hoping for a Here's some reports from someone who has been using GE's portable ultrasound machine: http://whyisamericanhealthcaresoexpensive.blogspot.com/2014/... http://whyisamericanhealthcareso…

Would your average person be able to use and interpret the results?

Re: New Startup Raises $100M for Portable Ultrasound

#27

Post by foobarqux » Mon, Nov 03, 2014, 4:26 PM UTC

new299 wrote: post #6

Rothberg is something of a character. His two DNA sequencing companies (454 and Ion torrent) have both had what I would consider successful exits (solid to Roche and Life technologies respectively). But more importantly both products made their way into the hands of consumers (which is actually rare for DNA sequencing startups). However after acquisition both products failed to gain significant traction (Roche has ju…

A sale is not always a successful (i.e. profitable) exit.

Re: New Startup Raises $100M for Portable Ultrasound

#28

Post by nomnombunty » Mon, Nov 03, 2014, 4:29 PM UTC

kanzure wrote: post #18

GE has a $9k version (Vscan), and Rothberg says he wants to make this for $6k ("1000 times cheaper [than a $6M MRI machine]" is $6k). Is that really a significant improvement? I guess any price competition is good, but I was hoping for a Here's some reports from someone who has been using GE's portable ultrasound machine: http://whyisamericanhealthcaresoexpensive.blogspot.com/2014/... http://whyisamericanhealthcareso…

The price should be in the hundreds. According to re/code, "Butterfly’s goal is to launch the device in as soon as 18 months — pending development and regulatory approval — with a price tag of hundreds of dollars, Rothberg said"

https://recode.net/2014/11/02/butterfly-network-raises-100-m...

Re: New Startup Raises $100M for Portable Ultrasound

#29

Post by erroneousfunk » Mon, Nov 03, 2014, 4:33 PM UTC

dgreensp wrote: post #25

I have an ultrasound that we bought on eBay when my wife was pregnant. The reason more individuals don't own them is that it's illegal! No company that makes ultrasound machines will sell them to a non-doctor, because of some kind of regulations. I believe they don't want people to think they can diagnose themselves when it actually takes a doctor. Whatever the reason, that's why more people don't own sub-$10k ultras…

Another danger is that, if these became popular in places like India and China, it could lead to the abortion of female fetuses in numbers greater than what is already taking place. It's illegal for pregnant women to get ultrasounds in these countries already.

Re: New Startup Raises $100M for Portable Ultrasound

#30

Post by new299 » Mon, Nov 03, 2014, 4:38 PM UTC

foobarqux wrote: post #27

new299 wrote: post #6

Rothberg is something of a character. His two DNA sequencing companies (454 and Ion torrent) have both had what I would consider successful exits (solid to Roche and Life technologies respectively). But more importantly both products made their way into the hands of consumers (which is actually rare for DNA sequencing startups). However after acquisition both products failed to gain significant traction (Roche has ju…

A sale is not always a successful (i.e. profitable) exit.

No, but I think in Rothbergs case they were ok. Not by any means stunning.

Ion Torrent raised around 60MUSD according to angel.co. They sold for 375MUSD, with milestone payments making it up to 725MUSD. I've no idea if they hit their milestones or not.

454 was a lot less... I think a few hundred million. But they also raised less IIRC.