West Health Investment Fund invests in GlySens and RxAnte Startups demonstrate innovative technologies to lower the cost of health care in the treatment of diabetes and medication adherence
SAN DIEGO, Sept. 12, 2012 /PRNewswire/ -- The West Health Investment Fund, West Health's fund focused on lowering health care costs, has announced it participated in the recent venture financings of GlySens, Inc. and RxAnte, Inc., two startup companies with innovative technologies that could lower the cost of health care. Financial terms of the investments were not disclosed.
"Through targeted investments in companies focused in advancing cost-effective and cost-saving models of care, West Health can impact the cost of health care externally," said Nicholas J. Valeriani, chief executive of West Health. "These two innovative companies highlight the kinds of new approaches to diabetes treatment and medication adherence that have great potential to disrupt the current delivery model and lower the cost of health care."
San Diego-based GlySens is developing an implantable, long-term continuous glucose monitoring sensor designed to provide a wireless means to track glucose levels and improve the lives of people with diabetes. The sensor resides completely under the skin and transmits glucose measurements wirelessly to a convenient external display device, so patients may control their blood sugar levels more effectively. The American Diabetes Association reports that in the United States alone, diabetes and its complications are estimated to be responsible for more than $117 billion in direct medical costs.
Virginia-based RxAnte is a health care improvement company that provides a new and innovative approach for driving medication adherence by helping organizations target, manage and evaluate their adherence support initiatives. By using predictive analytics, RxAnte's service helps identify the most effective outreach method to ensure that patients take their medicines as directed by their health care professional.
"Patients get no benefit from drugs they do not take, complex regimens they cannot follow or care they cannot afford," said Dr. Joseph Smith, chief medical and science officer of West Health. "These investments reflect our commitment to increasing the efficiency of health care delivery while decreasing the burdens of complexity and cost."
The $100 million West Health Investment Fund was launched in October 2011 to provide venture capital for companies with cutting-edge health care technologies and services that offer the potential to lower the cost of health care. The Fund is unique in its philanthropic nature as it commits any returns made from investments to medical research and other charitable activities.
ABOUT THE WEST HEALTH INVESTMENT FUND
The West Health Investment Fund's mission is to lower health care costs by investing in innovative patient-centered solutions that deliver the right care at the right place at the right time. This fund, seeded with $100 million from pioneering philanthropists Gary and Mary West, strategically provides capital to early-stage mission-aligned companies. The Investment Fund is unique in its philanthropic nature as it commits any returns made from investments to medical research and other charitable activities. The West Health Investment Fund is part of West Health, which also includes the West Health Institute, West Health Policy Center and West Health Incubator. For more information, find us at www.westhealth.org and follow us @westhealth.
SOURCE West Health Investment Fund