New York Digital Health Accelerator (NYDHA) unveiled the list of companies that will participate in its four-month program run by the Partnership Fund for New York City (Partnership Fund) and the New York eHealth Collaborative (NYeC). Those selected for the program will benefit from direct access to major customers, such as healthcare organizations and insurance companies, and receive product feedback from senior-level executives representing seventeen leading healthcare providers in New York State. Also, companies will have access to a leadership program with participation by a network of successful entrepreneurs, and receive $100,000 in up-front funding (per company) from a syndicate of leading venture capital and strategic investors.
“This year’s NYDHA class is at the vanguard of bringing game-changing solutions to the health IT industry,” said Maria Gotsch, President and CEO of the Partnership Fund for New York City. “By providing them with unmatched financial and professional support, this Accelerator will continue to produce results while growing our state’s economy and creating jobs in our communities.”
The 15 NYDHA graduate companies have raised $65 million in additional capital and created 120 new jobs in New York City.The 2015 class of NYDHA companies include:
- Dorsata – a platform for the creation, distribution, and implementation of clinical carepaths. It enables clinicians and nurses to rapidly create, build consensus, and disseminate care pathways.
- Healogram – helps providers remotely monitor post-surgical and wound care through tele-monitoring and analytics in order to provide more effective measuring and managing of wound patients to improve outcomes and reduce cost.
- iVEDiX – provides highly configurable visual analytics platform called miVEDiX that gives users the ability to interact with their data in a variety of ways.
- Nutrify – allows clinicians the opportunity to provide tailored recipes based on unique nutritional needs, clinical data, medications, and health conditions. The diet planning tool is accessible to the patient anytime, and has a tracking capability on the back end to assist the clinician in knowing if the patient is in fact eating healthier.
- OffTheScale – an affordable healthcare platform which has been shown to slow, stop, and reverse the progression of chronic diseases through a 12-week customized group intervention program called OTS-4-U, and then continues life-long maintenance and sustainability with its OTS-4-LIFE program.
- Wellth – works with healthcare payors to produce cost-saving behavior changes in their members through science-based incentive plans. By nudging patients towards evidence-based care options and by motivating and tracking healthy habits, they can measurably improve population quality metrics.
Investment capital will be provided by Baxalta, Baxter Ventures, Deerfield Management Company, Milestone Venture Partners, New Leaf Venture Partners, Safeguard Scientifics, and the Partnership Fund for New York City. Sponsors of the program include Accenture, Genentech, Infor, Merck Global Health Innovation Fund, Otsuka Pharmaceutical, and Pfizer.
The NYDHA has shown strong success. The 15 graduate companies have raised $65 million in additional capital and created 120 new jobs in New York City. Two of these startups, Avado and Remedy Systems, were acquired within 6 months of graduating.