Digital health companies announced for industry-led accelerator
Tuesday 17 July 2018, Melbourne, Australia—Five digital health companies have been announced as the successful applicants for ANDHealth+ 2018, Australia’s only mid-stage digital health, market and investment readiness program.
The five companies in the 2018 cohort were selected by a highly experienced industry selection panel from 42 high quality submissions from across Australia, and were announced today by The Hon. Philip Dalidakis MP, Minister for Trade and Investment, Innovation and the Digital Economy, and Small Business.
ANDHealth+ addresses an unmet need in company support available for digital health companies by providing expert advice and specialised, industry-led support for companies seeking to go global or expand their international footprint. The program is unique in that it requires no equity consideration and that each company’s advisory panel and project is tailored specifically to that company.
Bronwyn Le Grice, Managing Director and CEO of ANDHealth said: “We are excited to be working with these companies over the next several months to bring their evidence-based technologies closer to market and investment readiness. ANDHealth fills a crucial gap in the Australian commercialisation landscape that would otherwise leave companies like these without expert support and guidance to progress their technology.”
The five successful companies in the ANDHealth+ 2018 cohort are:
- Health Delivered
- Hello Sunday Morning
- Kesem Health
- Vitalic Medical
These companies will be supported by a bespoke advisory panel drawn from ANDHealth members and networks. In addition, ANDHealth contributes A$60,000 to securing relevant third-party expertise and cohort companies also benefit from significant in-kind offerings including media & communications, insurance, access to technical platform, human resources, intellectual property and legal support.
Minister Dalidakis also announced the value of the support made available to the inaugural ANDHealth+ 2017 cohort, which delivered over $1.8 million in value of which only 13 per cent was cash. The remainder was in-kind generated via ANDHealth’s member and ecosystem partner network. For every dollar invested in cohort company projects $7.55 of value was created and made available to the companies.
ANDHealth Chair, Dr Anna Lavelle said: “I am thrilled with the return on investment that ANDHealth has generated and it is fantastic to know more evidence based digital health technologies will have a chance of making it in to the hands of everyday people.”
The value contributed and made available to the cohort included over 150 hours of expert advisory panel members’ time, one multinational pharmaceutical commercial pilot, 24 key business area evaluations, two health economics studies, two independent valuations, four regulatory strategies, five market entry strategies, two voice of customer studies, two technical evaluations, two manufacturing plans, one pricing strategy, 20 hours of media and PR, substantial free technical platform access and national and international networking and exposure opportunities.
During their participation in the ANDHealth+ program, the 2017 cohort has so far (since October 2017) achieved important and impressive milestones for their companies, including creating 23 new jobs including two new CEOs, generating $1.3 million in revenue, raising $2.1 million in growth capital, two product releases, three commercial pilots across pharmaceutical and public health, several international market launches and expansion of service delivery into multiple states, the commencement of four clinical trial studies, 102 new operational sites, 73 new customers and seven partnerships formed, and 4739 patients were served.
About the 2018 ANDHealth+ Cohort Companies
CancerAid – An app that provides support and education to cancer patients and families through a community platform and connects patients to clinicians who receive information on their symptoms and activity via electronic health records.
Health Delivered – A software platform to assist dieticians to deliver clinically informed and personalised dietary management plans for patients with chronic disease and also automates workflow.
Hello Sunday Morning – An app-delivered, evidence-based program addressing alcohol misuse that encourages behaviour change through intelligent user-specific treatment plans, peer support and engagement with clinical psychologists.
Kesem Health – A device that simplifies the collection of urine data to the healthcare practitioner for further analysis to diagnose and manage lower urinary tract diseases.
Vitalic Medical – A non-invasive monitoring system that supports clinicians in hospitals and aged care settings by detecting early signs of patient deterioration and alerting staff of potential falls.
ANDHealth is a unique non- profit industry-led organisation focused on strengthening the Australian digital health ecosystem and de-risking innovations in digital health, with a focus on clinical evidence, commercialisation and investment readiness.
ANDHealth is comprised of a consortium of industry and government partners, with foundation members drawn from industry leaders nationally and internationally including Novartis Pharmaceuticals, RMIT University, Murdoch Children’s Research Institute, Planet Innovation, Curve Tomorrow, GP2U, AusBiotech, HealthXL, and HPM Executive and matching funding provided by Federal Government Industry Growth Centre MTPConnect.
Bronwyn Le Grice, Managing Director, ANDHealth. M: 0424 862 600, E: email@example.com