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Pain management startup Sword Health on Tuesday announced a new artificial intelligence solution named Phoenix that patients can speak with for guidance through virtual physical therapy sessions. Sword patients join sessions using a tablet from the company that can track their movement. Phoenix will propose changes for the patient's next session, as well as a follow-up message about the session they completed. Patients can sign up for Sword if it is supported by their employer or their health plan. Sword has been testing Phoenix with some patients using its "Thrive" digital physical therapy product.
Persons: Virgílio Bento, Bento, Sword, Catalyst Organizations: Pain, CNBC, Phoenix, Venture, Khosla Ventures, Founders Fund Locations: Phoenix
Sword Health wants to be profitable before an IPO, and it's aiming to hit that milestone in 2024. Virgilio Bento founded Sword Health in 2015 to give patients around the world access to virtual physical therapy. Bento isn't interested in taking Sword public before the company is profitable, he said, a milestone he expects to reach next year. "And I don't want to be a public company that's not profitable because that puts us in a very tricky situation." Sword Health uses wearables to monitor user movement and provide physical therapy virtually.
Persons: Virgilio Bento, Sword, Bento isn't, Bento, hadn't, he's, hasn't Organizations: Health, Sword Health, Smart
After a year of growth, Sword Health is looking to expand through mergers and acquisitions. CEO Virgílio Bento said he's looking for startups with solid healthcare partnerships and teams. As merger-and-acquisition activity in healthcare heats up, Sword Health has some of its own irons in the fire. Since October, the startup has grown its employer base from 150 to more than 1,400, Insider has learned exclusively. Instead, Bento said Sword wanted to accelerate how it grows, including by exploring more M&A opportunities.
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