The Launch Place Invests $250K in Connected Health Startup
The Launch Place has made its 22nd investment in Durham startup Pattern Health, a digital health company that accelerates digital health innovation, delivering solutions that help solve some of the most challenging health issues. The Launch Place is a venture development organization with offices in Danville, VA, and the Research Triangle Park, NC. The $250,000 investment came from their Seed Fund II.
Two of the biggest challenges in healthcare, arguably the most important segment of today's economy, are the slow pace of innovation and low success rates of translating proven research into real-world solutions that can more quickly reach and impact people's lives. These are the two main problems Pattern Health helps to solve.
Pattern Health’s solutions are designed for researchers and clinicians who are developing new and innovative ways to use technology to help solve very specific healthcare problems, benefiting people who are managing and suffering from a wide range of chronic and perioperative conditions. Delivered under a simple platform as a service model (PaaS), the ‘no-code’ solution enables researchers to create and deploy condition specific digital health programs quickly and economically, collect data more rapidly, generate evidence, and when appropriate translate those programs into real world, highly scalable solutions that can be used to improve the health and lives of more people. Data can be collected through web and native mobile apps, SMS, and a growing library of supported integrations with consumer wearables, Electronic Health Records (EHR’s), and a wide range of other third-party services and devices. Behavioral science and data-driven personalization is seamlessly integrated to increase engagement and adherence.
According to Ed Barber, Pattern Health Co-founder and CEO, the pace of innovation in the healthcare industry has been slow relative to other industries. Barber was inspired to start the company when he was working in the rapidly changing mobile industry while trying to manage his Type 1 Diabetes using comparably antiquated technologies. Along with Co-founders Ed Holzwarth and Tim Horan, two other experienced mobile and tech entrepreneurs, the team set out to build a mission-oriented company that would be focused on the double bottom line - a strong, fast growth, revenue generating technology business that delivered a meaningful social impact.
“The Pattern Health team is incredibly humbled to have our solutions adopted by many of the world's leading academic medical centers and healthcare researchers, many who spend their entire careers developing new therapies to help people suffering from a very specific healthcare condition. Digital health has created a whole new paradigm and opportunity for them, and our goal is to provide an easy to use technology platform so that researchers can focus 100% of their efforts developing and validating new and impactful interventions without having to worry about the technology,” said Barber. “And as platform utilization increases and the number of researchers and programs developed on our platform grows, we’re beginning to see the start of an interesting and exciting network-effect similar to what we saw in the mobile industry, further accelerating innovation and adoption while delivering more value for stakeholders as the network grows.”
Currently 11 of the top 20 academic medical centers and 5 of the top 10 pharmaceutical companies have licensed Pattern Health’s platforms and programs, developing more than 50 new digital health programs. In addition, 14 unique validated programs developed by leading researchers and academic medical centers, that are exclusive to Pattern Health, are available for licensing via Pattern Health’s growing Marketplace of digital health programs - including validated surveys and assessments, provider prescribed and remote monitoring programs, and clinical decision making and risk scoring algorithms. Pattern Health is HITRUST certified and HIPAA compliant to ensure the privacy and security of user information. Pattern Health is designed to be easily integrated into existing workflows and can be launched at a fraction of the cost that it takes to build a mobile health app.
“Moving forward, our goal is to continue growing the network of academic medical center, research and commercial customers licensing our platform to power their research and innovation programs, while expanding the number and types of programs that can be licensed through our marketplace, making it simpler and easier for program authors and partners to reach and impact more people with their programs,” said Barber.
The combination of a development platform and marketplace makes Pattern Health a unique solution and provides customers with support throughout the full life cycle of a digital health program. Customers using Pattern Health to develop and research new programs own the IP developed on the platform, creating longer term, economically aligned and more strategic partnerships as customers research is translated into real world solutions through Pattern Health’s Marketplace.
“An exciting part about being in the entrepreneurial space is to see the growth of startups over time,” said The Launch Place President and CEO, Eva Doss. “Not only has our team been impressed with the rate of development Pattern Health has shown, but also the adoption rate of their digital health platform and programs by leading academic medical centers, health institutions, and pharmaceutical companies. As the first institutional investor in the company, we look forward to assisting them within the healthcare sector and seeing what other innovative new digital health programs can be developed to help keep our communities well.”
Barber believes that The Launch Place is a great match for Pattern Health and looks forward to learning from their expansive network of experts nationwide as the company continues to develop and grow.
About The Launch Place:
The Launch Place provides new and early stage business support services and pre-seed and seed investments for technology startups in Virginia and North Carolina. As a venture development organization with the purpose to plan, fund, launch and grow businesses, TLP helps companies to get started, or to expand their operations by providing business consulting services, office space, and by investing in them through its investment funds. www.thelaunchplace.org
About Pattern Health:
At Pattern Health, we believe that thoughtfully built technology can inspire and accelerate digital health innovation to deliver more impact with less hassle.
Our flexible platform enables researchers and clinicians to translate ideas into validated real-world programs faster, easier and at lower cost. Behavioral science and data-driven personalization can be seamlessly integrated to increase engagement and adherence.
Fueled by a shared mission to help more people live healthier, happier lives, Pattern Health collaborates with researchers and clinicians across the entire life cycle of digital health — from idea to impact. https://pattern.health