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August Graduation Date; IBC, Penn Medicine, DreamIT Health Host Demo Day in Philadelphia

July 29, 2013

innovationSaying Demo Day is “the capstone of its accelerator program, and an opportunity to peel back the wraps on what they’ve accomplished and their roadmap for the future before a select audience of potential investors, partners and customers,” Elliot Menschik, Managing Director of DreamIt Health, in Philadelphia discussed the objective of the innovations event.

Independence Blue Cross (IBC), Penn Medicine, and DreamIt Ventures hosted Demo Day for 10 healthcare startup companies selected to participate in DreamIt Health, the first-ever Philadelphia-based health care accelerator. The event was held recently in Philadelphia.

Each participant had seven minutes to present their business plans to potential investors and customers, mentors, and healthcare executives. Demo Day events are an opportunity for startups to begin raising money to launch their businesses and gauge interest among key audiences.

“As healthcare undergoes dramatic change, I believe that the health care companies that thrive will be those with a clear vision that move rapidly and innovate. The caliber of this group of entrepreneurs and the diverse health care companies they represent is very promising and we’re pleased to have played a part in helping them plan, develop, and now present their ideas,” said Daniel J. Hilferty, president and CEO of IBC. “We are committed to transforming our region into a magnet for health care innovation, investment and employment, and supporting bright, new ideas like those we nurtured through DreamItHealth will help us get there faster.”

“The companies we’re seeing at Demo Day are debuting some of the best and brightest solutions that will shape the future of health care’s business model,” noted Ralph Muller, CEO of University of Pennsylvania Health System. “Innovation in healthcare is essential to our ability to provide patients with the most advanced treatments available, so we’re excited to see such a high level of prowess from these startups.”

In April, the 10 companies began a four-month boot camp to advance the development of their innovative healthcare solutions and business models. Sponsored by IBC and Penn Medicine, DreamIt Health launched in December 2012 with a nationwide search for unique healthcare startups that apply technology to the challenges of keeping people healthy and providing more effective and affordable care.

The program sponsors selected the 10 participating companies based on the proven business skills of their founders and their entrepreneurial passion, and the level of innovation in their products or services.

Each startup receives up to a $50,000 stipend, workspace at Venturef0rth in Philadelphia, and in-depth mentoring and coaching from experienced entrepreneurs and healthcare executives to help develop their products. The class graduates on August 9.

The companies participating in Demo Day are:

Aircare helps hospitals prevent readmissions and improve patient outcomes through tele-nursing, remote monitoring, and patient-specific analytics.

Biomeme transforms a smartphone into a convenient, low-cost lab for quick DNA diagnostics and on-site disease tracking with instant connectivity.

Fitly provides busy people with a free and convenient delivery service of healthy ingredients, meal planning, and simple prepping instructions straight to the workplace, school or community.

Grand Round Table is an EHR-based decision support tool that helps clinicians benefit from the wisdom of the whole health system at the point of care. By pattern matching their cases against a database of millions of de-identified health records, case reports, and medical publications, clinicians using GRT can arrive at the right treatment plan more efficiently.

Lucidity Health brings price transparency to the point of order for drugs, labs, and imaging to help providers, payers, and patients save money.

Medlio is creating a virtual health insurance card. The app provides healthcare cost transparency for patients and helps providers collect patient responsible balances up front which is critical to their financial sustainability.

Osmosis is a web- and mobile- educational platform that helps clinicians discover, learn, and retain medical information more efficiently.

Seratis (divlan) is a mobile communication platform bringing physicians and other health care professionals out of the pager era and leverages smartphone capabilities to coordinate, track and analyze care across the health care team.

SpeSo Health is an online platform that connects the 30 million patients with rare and orphan diseases with the care providers who are experts for those complex, high-cost conditions.

Stat provides a platform for any patient, caretaker or healthcare organization, such as a hospital, to quickly and easily request nearby idle EMS services.


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