Biofourmis
AI-driven remote patient monitoring and hospital-at-home care provider from Singapore.
On the record
Checkpoint: CMS formal cost and quality study results on the Acute Hospital Care at Home program
The call
Biofourmis has real regulatory footing but is running on outside capital while bigger-pocketed rivals gain ground and its own structure keeps shifting.
Biofourmis makes software that watches patients at home using devices and alerts doctors to problems, which is useful for hospitals trying to care for people without admitting them. The company has government approval for its technology and a contract to keep working with hospitals through 2030, but Best Buy Health's Current Health division and Optum's Vivify Health are bigger, better-known, and backed by enormous parent companies that can outspend and outsell Biofourmis. The picture could change if Biofourmis keeps its hospital customers over the next few years, but every recent layoff, leadership shuffle, and restructuring suggests the company is struggling to keep up with better-resourced competitors.
Why
01
AI pressure: None apparent. AI (the Biovitals engine) is Biofourmis' own product, not yet a distinct outside predator eating its business. Could AI do the core job? Unlikely.
02
Bigger players: Best Buy Health's Current Health and Optum's Vivify Health. Better funded rivals with bigger distribution rank ahead of Biofourmis on industry lists and are winning enterprise deals. Could a giant copy it? Yes, easily.
03
What protects it. FDA clearance on the Biovitals engine plus a five-year CMS hospital-at-home waiver running through 2030.
What would change this call
Biofourmis discloses audited revenue and health-system logo wins over next 2-4 quarters. Would show post-merger stability and real growth versus tracker guesses.
Another layoff round, divestiture, or CEO change at Biofourmis within 6 months. Would confirm continued structural instability after the CopilotIQ merger.
Named hospital-at-home contracts (e.g. Lee Health, AdventHealth) shift to Current Health or Vivify. Would show incumbents pulling ahead in enterprise wins.
Another layoff round, divestiture, or CEO change at Biofourmis within 6 months. Would confirm continued structural instability after the CopilotIQ merger.
Named hospital-at-home contracts (e.g. Lee Health, AdventHealth) shift to Current Health or Vivify. Would show incumbents pulling ahead in enterprise wins.
Key numbers
- Total funding raised: $445M-$463.6M
- Two layoff rounds and a CEO exit since 2023
- Revenue estimates range $1M to $117.8M, unverified
Named risks
- Pattern of structural churn: two 2023 layoffs, founder-CEO exit, 2024 merger, 2025 divestiture.
- No audited revenue disclosed; third-party estimates conflict widely with no independent verification.
- Better-capitalized incumbents Best Buy Health and Optum ranked ahead in third-party RPM lists.
- Business model still dependent on continued CMS AHCAH waiver policy support beyond 2030.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Best Buy Health (Current Health) | gaining on | Ranked ahead of Biofourmis on third-party RPM industry lists as of June 2026 |
| Optum (Vivify Health) | contesting | Competing for same enterprise health-system RPM accounts as of 2026 |
| Philips | contesting | Decades-long hospital device and monitoring integration incumbency, per 2026 industry rankings |
| Medtronic | contesting | CareLink Network incumbency cited among top RPM players in 2026 analyses |
Questions people ask
- Is Biofourmis profitable in 2026?
- No audited revenue or profitability figures have been disclosed. Biofourmis raised at least $455M across disclosed VC rounds (Series B through D, 2019 to 2022), but as a private company it has never published revenue or profit figures independently verified.
- Has Biofourmis had layoffs?
- Yes. Biofourmis laid off 120 employees globally (48 in the US) in July 2023, followed by a second 2023 round cutting roughly 45+ staff in Singapore and 85+ globally, shortly before founder-CEO Kuldeep Singh Rajput stepped down on August 30, 2023.
- Did Biofourmis merge with another company?
- Yes. In October 2024 Biofourmis merged in an all-stock deal with CopilotIQ, a Nashville-based chronic-care company; CopilotIQ's David Koretz became CEO of the combined entity, which then divested Biofourmis' life-sciences trials unit to ActiGraph in January 2025.
- Who is Biofourmis's biggest competitor?
- Current Health, owned by Best Buy Health, is repeatedly ranked ahead of Biofourmis on third-party hospital-at-home and RPM industry lists as of 2026, backed by Best Buy's distribution and logistics network; Optum's Vivify Health also contests the same health-system accounts.
- Could AI replace what Biofourmis does?
- Biofourmis' core product, the Biovitals Analytics Engine, is itself an AI system (FDA-cleared in 2021, analyzing 120+ biomarkers). Its moat is regulatory clearance, proprietary clinical data, and physical care logistics, not the algorithm itself, which limits easy replication by a generic frontier AI model.
- Does the CMS hospital-at-home waiver benefit Biofourmis?
- Yes. The CMS Acute Hospital Care at Home waiver, central to Biofourmis' hospital-at-home business, was extended five years through September 30, 2030 via the Consolidated Appropriations Act, 2026, signed around February 2026, removing near-term policy uncertainty for the category.
Timeline
- 2026-03-02CMS hospital-at-home waiver extended five years, through Sept 30, 2030
- 2025-01-07Biofourmis divested life-sciences/clinical-trials unit Biofourmis Connect to ActiGraph
- 2025-01-06AdventHealth selected Biofourmis for acute-care-at-home program
- 2024-11Lee Health partnership for hospital-at-home/RPM announced
- 2024-10-21Biofourmis merged with CopilotIQ; David Koretz became CEO of combined entity
- 2024-01-17Launched integrated on-demand in-home services ecosystem
- 2023-08-30Founder-CEO Kuldeep Singh Rajput stepped down, a month after layoffs
- 2023-07-21Laid off 120 employees globally (48 in US)
- 2022-04-29Raised $300M Series D led by General Atlantic, hit ~$1.3B unicorn valuation
- 2020-09-02Raised $100M Series C led by SoftBank Vision Fund 2
Revision history
22 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Biofourmis Raises $35M (2019-05-22)
- How Much Did Biofourmis Raise? (2025-05-08)
- Biofourmis raises $100M in SoftBank-led round (2020-09-02)
- Biotech firm Biofourmis reaches unicorn status after raising $300M (2022-04-29)
- Biofourmis Raises Additional Funding from Intel Capital... (2022-08-10)
- CopilotIQ, Biofourmis merge, pick up fresh investment (2024-10-21)
- ActiGraph Accelerates Clinical Trial Modernization with Transformational Acquisition of Biofourmis Life Scienc (2025-01-07)
- Biofourmis CEO steps down a month after global layoffs (2023-08-30)
- Management and Employees List
- Biofourmis Marks One Year Post-Series D with Major Milestones... (2023-07-19)
- News & Insights (2025-01-06)
- Biofourmis Selected by AdventHealth to Support 'Whole-Person Care' With New Acute Care at Home Program (2025-01-06)