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New York-based Sword Health, which offers physical therapy programs for pelvic health and muscle and joint pain, is announcing a national partnership with the Greek government to build an AI-enabled "front door to healthcare" for more than 10 million citizens.
Sword Health offers a platform with physical health education and resources, pain-fighting exercises and access to clinical pain specialists.
The company says its AI tools can help detect and engage high-risk members to prevent unnecessary surgeries and associated costs.
Sword's offerings also include Mind, a platform that pairs AI with mental health specialists to offer 24/7 care, and its M-band, a proprietary wearable device that can detect early indicators of depression and anxiety.
Additionally, Sword Intelligence, launched in July of this year, is the company's AI Care Management division. It was formed to help governments and health organizations scale their operations and manage patient interactions.
Through the partnership, the Greek government will use Sword Intelligence to create a platform to strengthen the country's National Health Information Line (1566), which helps individuals navigate their care.
Sword's AI will be integrated into the Health Information Line's triage and coordination processes to help Line professionals with routine and high-volume tasks and to route individuals to the right services.
The Ministry of Health said the system will undergo independent monitoring and evaluation to maintain public trust. It has also sought partnerships with national and international organizations to develop an implementation research study that will assess the system's design and performance against global standards.
In a statement, the Greek government said its healthcare system combines a national infrastructure with service to hundreds of rural and island communities, serving more than 10 million individuals across Greece.
"We believe Sword Health can help us rise to this challenge," Adonis Georgiadis, Greece's minister of health, said in a statement. "This partnership will rebuild how care flows through our system, making it faster, clearer and more centred on people."
THE LARGER TREND
Earlier this month, Sword announced a collaboration with Desjardins Insurance, a Canadian insurance group. Through the partnership, more than 2.1 million Canadians gained access to Sword's digital physical therapy tool, Sword Thrive, and its Bloom pelvic healthcare tools.
In June, Sword Health garnered $40 million in investment, bringing its total raise to $380 million and its valuation to $4 billion.
In February, health insurance provider Highmark added Sword's Virtual Pelvic Health to its offerings, allowing eligible members to access technology-powered pelvic healthcare support.
A month before, Sword acquired Surgery Hero in an all-equity transaction. Surgery Hero offered digital health tools aimed at improving patients' surgical outcomes. Sword integrated the UK-based company's offerings into its platform, and Surgery Hero's team joined Sword.
Last year, Sword Health secured $130 million in a Series E round of funding through a mix of primary and secondary sales, which brought its valuation to $3 billion.
Sword announced it scored $163 million in Series D funding in 2021. The heavily oversubscribed round brought the total primary and secondary transactions to more than $320 million. The round brought its valuation to $1.8 billion.
The company stated that the $163 million primary round was followed by an additional $26 million in a secondary transaction, which propelled its valuation to $2 billion.
