ANDHealth News

The cohort was announced by The Hon Mark Butler MP, Minister for Health and Aged Care.

The Hon Mark Butler MP said, “The potential of Australian researchers and our digital health technology sector is unlimited.

“Investment is important, but so too is expert guidance to navigate the pathway from discovery to delivery for Australian patients.

“Through ANDHealth+ the Government is accelerating our brightest ideas to help reach our vision for fast and safe adoption of digital health technologies.”

$3.75M from the Australian Government’s MRFF will be invested into six high-growth potential digital health companies over the next 16 months, via a two-stage investment process.

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The selected digital health technologies are:

– Cape Bionics: Digital scanning technology and accompanying software that allows clinicians to scan patients to create personalised, medical-grade compression garments tailored to their unique needs for a variety of performance and therapeutic uses, and which are currently used by NASA.

– Healthily: bringing conversational Voice AI to its interoperable clinical outreach and patient education platform, greatly increasing patient engagement and understanding through customisation and interactivity.

– Navier Medical: ‘Mosaic’, an AI-driven medical imaging software using routine CT scans to unlock personalised treatment options for patients with cardiovascular disease, streamlining risk stratification and enabling earlier detection through a new disease marker that is a significant predictor of heart attack.

– Osara Health: a digital engagement platform for those impacted by cancer that is delivered in conjunction with health coaching and a smartphone application, with clinical evidence demonstrating improved health outcomes.

– Sydney Neuroimaging Analysis Centre (SNAC): brain imaging analysis platform that utilises AI to precisely conduct quantitative analysis of brain structures for monitoring and managing neurological diseases including Multiple Sclerosis and Dementia.

– Touchstone Life Care: a Software-as-a-Service (SaaS) platform blending user-friendly interfaces with robust security and cloud-based integration, to help clients complete a digital advanced care plan, which is made available to all decision-makers at the point of need and helps to improve end-of-life care.

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The new funding follows the launch of the Economic Impact Assessment of Digital Health by Assistant Health Minister Ged Kearney. The independent report, undertaken by LEK Consulting, found that for every $1 invested into the Australian digital health industry via ANDHealth+, $19.70 in capital is raised and $4.2 in gross economic value is delivered.

Significantly, digital health startups participating in the ANDHealth+ program raise on average $1.1 million in capital after just six months – approximately double the $0.6 million in capital raised by other digital health SMEs.

ANDHealth CEO and Managing Director Bronwyn Le Grice said, “These investments will support Australia’s highest-potential digital health innovators to navigate the complex and evolving landscape of digital health commercialisation, providing hands-on support and access to leading experts from around the globe.”

“Access to capital and digital health experience remain critical barriers to commercialisation and growth for digital health innovators in Australia. Whilst we have an increasing number of success stories growing internationally, companies at home still require support to navigate the valley of death and subsequent post-regulatory-approval viability gap,” said Ms Le Grice.

“ANDHealth+’s two-stage process has proven itself to be significantly more effective than other programs in accelerating commercialisation and growth for these companies.”

The funding builds on the extensive support ANDHealth has provided to more than 850 Australian digital health start-ups since 2017. The 23 companies which have participated in ANDHealth+ so far have raised $150.9M in dilutive and non-dilutive financing, impacted 727,507 patients, delivered 923 commercial pilots, commenced 72 clinical studies or trials, and undertaken 32 international market launches.

Funded by the MRFF, the ANDHealth+ program is Australia’s leading health technology accelerator and is delivered by ANDHealth, Australia’s only dedicated digital health commercialisation organisation.

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Cape Bionics

Dr James Waldie, Founder and CEO, Cape Bionics:

“We’re passionate about revolutionising compression therapy. Our 3D scanning and garment design technologies allow superior medical grade custom-fit compression garments to be easily prescribed by practitioners anywhere in the world, offering a new level of treatment across a range of health care sectors.

With so many options ahead of us, we need deep and broad expertise in market assessments and commercialisation strategies to steer our growth along an optimum path. That’s why we’re ecstatic to be in cohort 4 of the ANDHealth+ program! We have benefited so much from the ANDHealth ACTIVATE program, and we know the specific follow-on support and expertise of ANDHealth+ is exactly what we need for Cape to scale quickly, sustainably and globally.”

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Healthily

Dr Tina Campbell, Managing Director and Co-Founder, Healthily:

“As a participant in Cohort 4 of the ANDHealth+ program, we have first-hand experience of the vital role that ANDHealth plays in the digital health ecosystem. Healthily is undertaking iterative development of a conversational Voice AI component for GoShare, our interoperable clinical outreach and patient education platform. The ANDHealth+ program’s industry-informed, hands-on guidance provides invaluable assistance in achieving our strategic objectives of accelerated innovation and growth.”

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Navier Medical

Mr Sander Bangma, CEO, Navier Medical Ltd:

“Navier Medical is excited and honoured to be working with ANDHealth, as we continue our mission to reduce the impact of cardiovascular disease. The support of the ANDHealth+ program will enable us to de-risk key commercial, technical and clinical milestones, as we prepare to enter a competitive market. Participation in the program, and access to the expertise of ANDHealth’s team and extensive industry network, will accelerate and refine Navier’s go-to-market strategy. We look forward to the opportunities this will offer.”

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Osara Health

Dr Raghav Murali-Ganesh, Co-Founder and CEO, Osara Health:

“We are excited to be part of the ANDHealth+ upcoming cohort. The expertise of the ANDHealth and their wider industry network will provide invaluable support as we look to scale Osara Health globally – this is key to our long-term success as a home-grown digital health initiative. The ANDHealth+ program will help us understand the drivers of decision making and unlock new segments, making it easier for enterprise customers to adopt a digitally based solution to improve the care and reduce the costs of cancer care.”

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Sydney Neuroimaging Analysis Centre (SNAC)

Dr. Michael Barnett, Chief Research Officer, SNAC:

“At SNAC, our mission to revolutionise the monitoring and management of neurological diseases through advanced AI-based medical imaging analysis has been given a dramatic boost by the ANDHealth+ program. Like many medtech companies, we faced a critical gap between our technical successes and commercial implementation of our tools in Australia and beyond. The ANDHealth+ program will provide us with tailored mentorship, access to industry leaders and substantive funding to bring our innovative suite of software based medical devices to market, supporting both patients with disabling neurological conditions and the clinicians involved in their care.

By enhancing SNAC's commercial readiness, SNAC will be well-positioned to attract investment and rapidly accelerate our pipeline of software-based products to incorporate new technologies, such as generative AI, and expand their indications to new patient populations.”

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Touchstone Life Care

Dr Merran Cooper, CEO and Founder, Touchstone Life Care:

“We are honoured to be selected as a member of the ANDHealth+ cohort. Touchstone Life Care is bringing advance care planning into the 21st century with our innovative platform designed to empower individuals in directing their end-of-life care. Our platform acts as a digital engine to capture and communicating people's wishes in real time, eliminating many of the problems of paper only plans.

The ANDHealth+ program provides us with a unique opportunity to enhance our strategic development, plan and develop features to attract new customers, and ultimately, improve the quality of life for our users. We are eager to collaborate with the ANDHealth team and leverage their expertise to further our mission of transforming advance care planning.”