Technology is changing Healthcare
My guess is many investors are asking themselves is a healthcare type deal something that is actually in my wheelhouse. Is this a healthcare investment or is it a technology investment. Technology is helping make the healthcare system better at every turn. There is no question that the system we have now is far from optimal. How can technology help reduce costs, share data easily and make it easier for people to some of the work from home. These are three companies that I invested in that I believe are making a difference in healthcare.
I saw Captureproof over the summer and was immediately drawn into what Meghan had built. All you need is a handheld device with a camera to safely share patient to doctor and if need by doctor to doctor. If you ever have had to follow-up with a doctor for just a look/see wouldn't life be better if you could just take a picture what was needed to look/see and get the thumbs up from your doctor? What if your infant was having seizures and you needed to capture that for your doctor and then made sure that it is in their medical files...Captureproof. For the doctors that get it, and there are plenty including hospitals is that you can be more efficient and begin to create data to share with your peers. This is purely a technology business to help doctors and patients through real time capture of photos of anything medically related. And yes it is HIPAA compliant.
My daughter showed me the app, Hello Clue. She had turned all her friends on to it. So why in the vast app world of these was she drawn to this one? The simplicity of the product. After Ida showed it to me I was shown the Clue deck from about three separate investors who decided it was too early and the company was based in Berlin. I get the Berln part but we do get to Berlin once a year, skype works, she is a smart woman and is building a technology that nobody else has so I went with it. I also liked that one of the angel investors was one of the first in Sound Cloud, a Berlin success story. The traction she is getting is impressive and I also like that 50% of the users are outside the US.
I spoke with the woman entrepreneur behind Ubiome. Jessica has built a kit that analyzes your micorbiome. Doctors do not always look at the microrganisms that live inside us today although in Eastern medicine I do believe this is a more common practice. You can learn a lot from what microrgamisms that live inside your body. I recently went to see a doctor who looks at this kind of stuff. The issue I had with it is I am not so sure I believed in her treatment and if in fact it was necessary. If there was data around this in the area of the world that I lived in that the majority of people that live in NYC have that in their body then I'd feel more comfortable. There isn't any data...yet. I am very intrigued by this but again a technolgy investment. A simple kit you get at home and then they give you your results but no advice with what to do with that knowledge although how this business moves forward will be interesting. Now it makes sense that they are working with businesses that work within the medical community but consumers can buy it too.
Another vertical that is starting to hit investors desks. Interesting to watch and participate.