Graham Healthcare Group | December 21, 2021
Graham Healthcare Group, a leader in homecare, palliative and hospice services, today announced its acquisition of InTeliCare Health Services, a provider of home health services in central Florida. The agreement was finalized on December 15th, 2021, and marks Graham's first expansion into Florida.
Graham will integrate InTeliCare into its Residential Home Health division to accelerate access to personalized home health care throughout Florida. Residential is a leading post-acute home care network serving communities in Michigan, Illinois and Pennsylvania.
Integrating InTeliCare into Residential Home Health will bring together industry-leading, patient-centered home health services to strengthen the continuum of care for patients across central Florida.
"More than one-fifth of Florida's population is over 65, and that number continues to grow. With the baby boomer generation doubling in size and an increase in comorbidities, this is an ideal time for Graham Healthcare Group to begin serving people in the state of Florida in their own homes with high-quality post-acute and end-of-life care."
David Curtis, Chief Executive Officer of Home Health at Graham Healthcare Group
"With the addition of InTeliCare, we're poised for growth as we continue our mission to transform home care and improve patient experiences," Curtis said. "This agreement expands the ability of Graham Healthcare Group to deliver consistent, high-quality care across the spectrum of home health and further strengthens our foundation for success."
Irene Tuttle, InTeliCare Founder and Chief Executive Officer, will serve in an advisory role following the deal's close. Toni Walker, InTeliCare's longstanding Vice President of Operations, will maintain leadership over day-to-day operations.
"We strongly align with Residential's values of care and community," Tuttle said. "This is an extraordinary opportunity to join forces with an organization that shares our employee- and patient-driven approach to care."
"We are confident that the powerful synergies and added strength this partnership creates will continue to elevate the value and experience of post-acute care and advance the continuum of home health care in central Florida," Tuttle added.
Residential Home Health intends to retain InTelicare's workforce and will support them with enhanced operational efficiencies and advanced clinical and technology innovations.
Both Residential Home Health and InTeliCare are known for strong, employee-friendly cultures. Residential has been recognized as a top workplace for 11 consecutive years in the Detroit market and was recognized in the Chicago and St. Louis markets in 2021.
About Graham Healthcare Group
A subsidiary of Graham Holdings Company, Graham Healthcare Group has designed business and technology solutions to drive better care, outcomes and productivity in home health and hospice services for more than 20 years. Itincludes Residential Healthcare Group, Allegheny Health Network-Healthcare @ Home, Mary Free Bed at Home, Clarus, and CSI Pharmacy. Itis deeply committed to radically changing the home care model by putting patients and their families at the top of the paradigm, while enhancing the quality and consistency of healthcare in the most convenient and cost-effective setting possible: at home.
About Residential Home Health
Based in Troy, Michigan, Residential Home Health is a leading provider of home health, palliative and hospice services in Michigan, Illinois and Pennsylvania. Residential is one of the fastest growing home health networks with 2,500 dedicated care professionals.
About InTeliCare Health Services
Based in Boca Raton, InTeliCare is a leading provider of home health services in central Florida. The company has 80 employees serving nearly 300 patients from three offices.
FUTURE OF HEALTHCARE
Ensemble Health Partners | December 15, 2021
Ensemble Health Partners, in partnership with Caduceus Capital Partners, led the $8 million Series A capital raise for Janus Health, a revenue cycle automation and decision support platform.
Billions of dollars are left uncollected annually by healthcare providers due to poor methods and inconsistent human decision making in the revenue cycle process. Janus Health studies end-user behavior within the revenue cycle and uses advanced AI to determine the optimal path for each workflow. Janus then automates processes and end-to-end workflows using its scalable platform and delivers real-time predictive recommendations to guide human worker performance.
“I invest in people first. I’ve known Brendan for a long time, and he has assembled an incredible team who are experts in the field. We see a lot of technology fads in healthcare, but I am always most concerned with delivering value and creating a meaningful impact for our clients and associates. As someone deeply entrenched in the revenue cycle world, I see tremendous potential for Janus to deliver on both fronts.”
Judson Ivy, Founder, President and CEO, Ensemble Health Partners
“Several factors, including labor shortages, shrinking reimbursements and more stable IT environments, are creating a ripe opportunity to transform the revenue cycle with artificial intelligence and automation,” said Brendan Downing, co-founder and CEO of Janus Health. “Janus Health offers a timely service that can have a significant impact for health systems struggling with these rising costs-to-collect and reimbursement challenges.”
Health systems continue to struggle with a workforce shortage and lack of resources. A recent McKinsey & Company study showed that $180 billion could be saved in healthcare administration and finance costs with automated technology. Many health systems do not currently have revenue cycle automation, but plan to implement this technology in the next year. With Janus Health, managers and executives receive actionable insights into people, productivity and practices, allowing them to optimally allocate and manage resources.
“The revenue cycle in healthcare is notoriously challenging. Billing and collections are especially complicated when you consider the various payors and parties involved in a transaction,” said Dave Vreeland, senior managing partner at Caduceus Capital Partners. “This area is one of the most labor-intensive in healthcare, and there is a huge opportunity for Janus to make a difference in the industry.”
Jim Gaffney, EVP, strategy and corporate development at Ensemble Health Partners and Sue Tyler, venture partner at Caduceus Capital Partners will serve on the Janus Health board of directors.
About Ensemble Health Partners
Ensemble Health Partners is a leading provider of technology-enabled revenue cycle management solutions for health systems, including hospitals and affiliated physician groups. The company offers end-to-end revenue cycle solutions as well as a comprehensive suite of point solutions to clients across the country.
About Caduceus Capital Partners, LLC
Caduceus Capital Partners is a venture capital and private equity company focused on early-stage digital health investments. The Caduceus Capital Partners investment model actively supports portfolio companies from the first check to the exit phase with operational expertise and network access to potential customers and partners.
About Janus Health Technologies
Janus Health is leapfrogging the automation solutions of today by developing the only end-to-end process improvement platform that studies a revenue cycle operation to determine the optimal path of each workflow and rapidly builds intelligent automation and decision support with a single-click.
Nemaura Medical, Inc | January 14, 2022
Nemaura Medical, Inc.(“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announces the launch for employers and insurers of Miboko, a new metabolic health program using a non-invasive glucose sensor along with an AI mobile application. The Company’s goal is to achieve broad adoption of Miboko as a form of preventative medicine for a wide user base through these commercial channels and is aligned with the general trend in consumer digital healthcare.
“Introducing Miboko to the population at-large through employers and insurers will allow Nemaura to reach a much wider audience in much faster fashion than solely relying on a direct-to-consumer campaign, and in the Western world, these institutions are the most reliable gateway toward wider adoption of preventative health maintenance practices. Being aware of one’s metabolic health and how the body uniquely regulates sugar is key to one’s health. Patients, of course, want to be as informed as possible about their health, and employers and insurers are also aligned with patients in that regard, given the massive productivity losses and healthcare costs at stake on a larger scale across their employee and insured base, respectively. Miboko can help address this substantial market opportunity through our non-invasive, revolutionary approach to healthcare.”
Nemaura CEO Dr. Faz Chowdhury
Nemaura has also submitted a Premarket Approval (PMA) to the United States Food and Drug Administration (FDA) for approval of its glucose monitoring device as a Class 3 medical device. The Company’s PMA was the subject an on-site FDA bioresearch monitoring (BIMO) audit that generated a single Form 483 observation, for which the Company has committed to a full response this quarter. A follow-up BIMO audit of the clinical investigator site has also been scheduled for the current financial quarter.
Miboko has been in development for nearly two years and addresses a significant mass market opportunity that the Company believes could benefit roughly a third to half of the population by using a non-invasive glucose sensor to measure and monitor a user’s metabolic health score, which is based on glucose tolerance or insulin resistance. Those with prediabetes or obesity concerns -- or even those looking to maintain better health through more careful glucose control -- may benefit from such a metabolic health program. How one’s body metabolizes sugar is the main influencer of one’s appetite, weight, sleep quality, and energy and mood levels and even plays a critical factor in chronic diseases (beyond just diabetes), such as heart disease and dementia.
At the heart of the Miboko offering is Nemaura’s non-invasive glucose sensor that is designed to measure insulin resistance, reported as a metabolic health score, and priced to be highly affordable with the program running for an initial two-year period. The program also uses a mobile app to provide users with personalized information by tracking their metabolism. A user can find out how well their body responds to sugar through their metabolic health score — and how what they eat and what they do every day uniquely affects their metabolic health.
Along with the capability to follow metabolic health progress on the app, Miboko users receive weekly and monthly reports that show and explain their body’s unique metabolic health score and a breakdown of how each of their habits are impacting their overall health and wellbeing. Suggestions for small, manageable changes to daily routines, such as eating more or less of a certain kind of food or exercising at a different time of day to coincide with peak energy levels, provide Miboko users with personalized, usable data.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies.
Additionally, Nemaura has launched Miboko, a new metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being.
The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.
Alkem Laboratories Ltd. | January 13, 2022
Alkem Laboratories Ltd. (Alkem) hereby announces to launch a unique patented technology for the treatment of Diabetic Foot Ulcer (DFU) in India. The solution would be based on disruptive 4D Bioprinting technology, which would be used to treat deep, non-healing chronic wounds and is expected to be launched in the Indian market in the latter half of 2022 post regulatory approval. This advanced technology for DFU management has a high scope of preventing amputations in diabetic patients. This technology will be available at affordable rates to Indian patients at a time when there is no definitive treatment for DFU in India.
India currently has approximately 77 mn diabetes patients, the second highest in the world. A diabetic foot ulcer is one of the most significant and devastating complications of diabetes and is defined as a foot affected by ulceration that is associated with neuropathy and/or peripheral arterial disease of the lower limb in a patient with diabetes. Approximately, 12-15% with diabetes suffer from DFU at least once in a lifetime. 5–24% of them will finally lead to limb amputation within 6–18 months after the first evaluation. The risk of foot ulceration and limb amputation increases with age and the duration of diabetes. Alkem has collaborated with Rokit Healthcare Inc. to commercialize the technology in India to help reduce amputation amongst DFU patients considering the negative impact of amputation on a patient's quality of life and the associated economic burden on the healthcare system.
"In India, Diabetes is one of the major healthcare challenges. The challenge in itself is so huge that diabetic foot ulcers often get ignored. Approximately 1 lac people have to undergo amputation every year and compromise on their quality of life. To address the problem, Alkem has collaborated with Rokit Healthcare Inc., a global regenerative solutions company, to bring out novel solutions for the management of diabetic foot ulcers."
Mr. Sandeep Singh, Managing Director, Alkem Laboratories Ltd
Adding further, Mr. Sandeep asserted, "Alkem, over the years, has always been at the forefront in delivering high-quality patient care, through its innovation and patient-centric initiatives."
About Alkem Laboratories Ltd
Established in 1973 and headquartered in Mumbai, Alkemis a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture, and sale of pharmaceutical and nutraceutical products. The Company produces branded generics, generic drugs, active pharmaceutical ingredients (APIs), and nutraceuticals, which it markets in India and International markets. With a portfolio of more than 800 brands in India, Alkem is ranked the fifth largest pharmaceutical company in India in terms of domestic sales. The Company also has presence in more than 40 international markets, with the United States being its key focus market.