FORT WAYNE, Ind., Oct. 23, 2018 /PRNewswire/ -- Mend Medical, a healthcare investment firm, launched today with a commitment to addressing the systemic challenges currently undermining the delivery of patient care. Based in Fort Wayne, Indiana, Mend Medical invests in innovative, transformative healthcare companies dedicated to improving accessible, affordable, quality patient care and eliminating incentives that put profits ahead of patients.
Mend Medical's unique approach represents a bold strategy to heal healthcare.
- According to Centers for Medicare & Medicaid Services (CMS), health care spending rose 4.3 percent to $3.3 trillion in 2016, or $10,348 per person. Healthcare spending accounts for 17.9 percent of the nation's Gross Domestic Product.
- The Kaiser Family Foundation's 2018 Employer Health Benefits Survey reports annual family premiums for employer-sponsored health insurance rose 5 percent to average $19,616, extending a seven-year run of moderate increases. The mean household income in the United States is estimated to be $61,372.
- The Centers for Disease Control (CDC) states at least 30 percent of antibiotic courses prescribed in the outpatient setting are unnecessary.
- Researchers at Mayo Clinic report more than 20 percent of patients are misdiagnosed.
These are examples of a healthcare system that needs to be healed.
"Our strategy is to identify and invest in companies that are changing healthcare right now. We're looking for unique, innovative technologies and leaders that are frustrated with the status quo and are passionate about making change happen," said Ben Joseph, President of Mend Medical. "Mend Medical is driving transformation that empowers the healing of our healthcare system. We're partnering with operating and early stage companies to create a collaborative network of bold leaders that are building a better healthcare economy."
Mend Medical currently manages a group of legacy medical technology investments on behalf of parent company Ambassador Enterprises. Those investments include AssessMD, SpeechVive and Theratome Bio. Ambassador Enterprises is a philanthropic equity firm based in Fort Wayne, Indiana.
"Ambassador Enterprises invests in innovative solutions to systemic problems driven by strategic leaders," said Arlan Friesen, President of Ambassador Enterprises. "Mend Medical is an opportunity for Ambassador to focus on accelerating progress with significant potential to change the lives of families and communities throughout the country and around the world. The U.S. healthcare system must evolve. Mend Medical is pushing this necessary transformation forward."
Mend Medical is presenting at the 2018 Musculoskeletal New Ventures Conference (MNVC) in Memphis, Tenn., October 23-24. President Ben Joseph is speaking at the conference to introduce the company's investment strategy and interest in exploring partnerships that advance musculoskeletal treatments. Additional information about the conference is available at MNVC.org.
About Mend Medical
Mend Medical invests in companies that have innovative technologies and transformational ideas to solve real problems in the healthcare industry. Headquartered in Fort Wayne, Indiana, Mend Medical partners with companies to impact the culture of healthcare by working to lower costs, eliminate waste and make life better for people.
SOURCE Mend Medical