TMC-accelerated Houston startup exits to health services giant

M&A

ScalaMed, which went through the TMC Accelerator in 2018, has been acquired. Photo via TMC

Healthcare services giant Cardinal Health has acquired Houston-based startup ScalaMed, whose platform transfers prescriptions directly to patients via a secure mobile app. The purchase price wasn’t disclosed.

ScalaMed now falls under the umbrella of a Cardinal-owned company called Outcomes. ScalaMed’s technology will be available throughout Cardinal’s nationwide pharmacy network.

“As healthcare continues to evolve toward patient preferences, the acquisition of ScalaMed allows us to center our connected ecosystem around the patient from the outset of their treatment journey — from the doctor’s office to the pharmacy to home,” Brent Stutz, senior vice president and general manager of Dublin, Ohio-based Outcomes, says in a news release. “Using ScalaMed’s technology, we can better support patients at every step along their treatment journey through unified communication and more informed insights that will help remove access and adherence barriers.”

Dr. Tal Rapke, founder and CEO of ScalaMed, says the process of digitizing prescriptions removes the patient from the equation, helping them bypass challenges such as forgetting medication while on vacation or lacking a convenient pharmacy nearby.

ScalaMed, founded in 2016 in Australia, raised $1.1 million in funding, according to Crunchbase. It was a member of the TMC Accelerator’s medtech program in 2018.

“With the scale and innovation Cardinal Health offers, we can revolutionize how prescriptions are filled and help solve the massive, costly challenge of medication nonadherence,” says Rapke, who’s a physician.

According to an article published in 2016 by the Journal of Managed Care & Specialty Pharmacy, medication nonadherence happens when a new medication is prescribed for a patient, but the patient does not obtain the medication or an appropriate alternative within an “acceptable” period after it was prescribed.

An article published in 2018 by The Permanente Journal reported that medication nonadherence happens with as many as 40 percent to 50 percent of patients who are prescribed drugs for chronic conditions like diabetes and high blood pressure. Each year, medication nonadherence costs the U.S. healthcare system $528 billion and contributes to about 275,000 avoidable patient deaths, according to a study published in 2018 in the Annals of Pharmacotherapy.

“Medication adherence … constitutes one of the ‘big hairy problems’ or ‘big hairy audacious goals’ of healthcare,” says an editorial published in 2020 by BMJ Journals.

gBETA has announced its second Houston cohort. Photo courtesy of gBETA

Early-stage startup accelerator names latest Houston cohort

ready cohort 2

An early-stage startup accelerator with a national presence has announced its latest cohorts across the country. Five Houston companies have been named to the local class.

The accelerator, gBETA, is a part of Madison, Wisconsin-based gener8tor's suite of accelerators, and announced its plan to launch in Houston in September 2019. The program's inaugural cohort premiered in May and conducted the first program this summer completely virtually.

This week, gBETA named 50 startups across 10 cohorts to its fall program. Here are the five startups selected from Houston:

  • DOSS: Launched in April, DOSS uses artificial intelligence and data aggregation in the homebuying process.
  • Camelia Alise: The company creates gender-neutral skincare products to treat pseudo-folliculitis condition and has developed a specific spa curriculum for aspiring spa owners and specialists.
  • CaseCTRL: A management platform for surgeons, CaseCTRL's software-as-a-service technology uses AI and logistics to lower operational costs and simplify surgical planning.
  • Melanoid Exchange: An online platform, Melanoid Exchange is giving small minority businesses the opportunity to grow their business through eCommerce.
  • ScalaMed: The company has developed a smart prescriptions platform that provides care teams real-time information on their patients' drug management, and patients with an empowering tool that helps them take control over the prescription process.

The no-cost, equity-free program will last seven weeks and kicked off on October 1. While the program will continue to be virtual, gBETA's operations are located in Amegy Bank's Downtown Launchpad along with Impact Hub Houston and MassChallenge Texas.

"Over the past year, Central Houston has focused on establishing Downtown as a vibrant innovative center of gravity for technology and entrepreneurship in the northern node of the Houston Innovation Corridor," says Robert Pieroni, director of economic development at Central Houston, a gBETA Houston sponsor, in the news release.

"The result has been recruiting nationally-acclaimed accelerator programs, such as gener8tor, to our city and creating Downtown Launchpad, an inclusive village that offers a framework of resources for these programs and the startups and entrepreneurs involved as they seamlessly navigate through the stages of startup production. We're thrilled that gener8tor is one of Downtown Launchpad's resident partners and look forward to the impact created by the startups in the fall cohort."

gBETA Houston's Virtual Pitch Night will be held on Wednesday, Nov. 18, at 5 pm. For more information and to RSVP, click here.

gBETA kicked off its 2020 fall accelerator virtually. Photo courtesy of gBETA

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9 can't-miss Houston business and innovation events for April

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Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.

Texas university's innovative 'WaterHub' will dramatically reduce usage by 40%

Sustainable Move

A major advancement in sustainability is coming to one Texas university. A new UT WaterHub at the University of Texas at Austin will be the largest facility of its kind in the U.S. and will transform how the university manages its water resources.

It's designed to work with natural processes instead of against them for water savings of an estimated 40 percent. It's slated for completion in late 2027.

The university has had an active water recovery program since the 1980s. Still, water is becoming an increasing concern in Austin. According to Texas Living Waters, a coalition of conservation groups, Texas loses enough water annually to fill Lady Bird Lake roughly 89 times over.

As Austin continues to expand and face water shortages, the region's water supply faces increased pressure. The UT WaterHub plans to address this challenge by recycling water for campus energy operations, helping preserve water resources for both the university and local communities.

The 9,600-square-foot water treatment facility will use an innovative filtration approach. To reduce reliance on expensive machinery and chemicals, the system uses plants to naturally filter water and gravity to pull it in the direction it needs to go. Used water will be gathered from a new collection point near the Darrell K Royal Texas Memorial Stadium and transported to the WaterHub, located in the heart of the engineering district. The facility's design includes a greenhouse viewable to the public, serving as an interactive learning space.

Beyond water conservation, the facility is designed to protect the university against extreme weather events like winter storms. This new initiative will create a reliable backup water supply while decreasing university water usage, and will even reduce wastewater sent to the city by up to 70 percent.

H2O Innovation, UT’s collaborator in this project, specializes in water solutions, helping organizations manage their water efficiently.

"By combining cutting-edge technology with our innovative financing approach, we’re making it easier for organizations to adopt sustainable water practices that benefit both their bottom line and the environment, paving a step forward in water positivity,” said H2O Innovation president and CEO Frédéric Dugré in a press release.

The university expects significant cost savings with this project, since it won't have to spend as much on buying water from the city or paying fees to dispose of used water. Over the next several years, this could add up to millions of dollars.

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A version of this story originally appeared on our sister site, CultureMap Austin.

Texas female-founded companies raised more than $1 billion in 2024, VC data shows

by the numbers

Female-founded companies in Dallas-Fort Worth may rack up more funding deals and more money than those in Houston. However, Bayou City beats DFW in one key category — but just barely.

Data from PitchBook shows that in the past 16 years, female-founded companies in DFW collected $2.7 billion across 488 deals. By comparison, female-founded companies in the Houston area picked up $1.9 billion in VC through 343 deals.

Yet if you do a little math, you find that Houston ekes out an edge over DFW in per-deal values. During the period covered by the PitchBook data, the value of each of the DFW deals averaged $5.53 million. But at $5,54 million, Houston was just $6,572 ahead of DFW for average deal value.

Not surprisingly, the Austin area clobbered Houston and DFW.

During the period covered by the PitchBook data, female-founded companies in the Austin area hauled in $7.5 billion across 1,114 deals. The average value of an Austin deal: more than $6.7 million.

Historically, funding for female-established companies has lagged behind funding for male-established companies. In 2024, female-founded companies accounted for about one-fourth of all VC deals in the U.S., according to PitchBook.

PitchBook noted that in 2024, female-founded companies raised $38.8 billion, up 27 percent from the previous year, but deal count dropped 13.1 percent, meaning more VC for fewer startups. In Texas, female-founded companies brought in $1.3 billion last year via 151 deals. The total raised is the same as 2023, when Texas female founders got $1.3 billion in capital across 190 deals.

“The VC industry is still trying to find solid footing after its peak in 2021. While some progress was made for female founders in 2024, particularly in exit activity, female founders and investors still face an uphill climb,” says Annemarie Donegan, senior research analyst at PitchBook.

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