SAN JOSE, Calif., Aug. 20, 2019 /PRNewswire/ -- Two experienced healthtech industry leaders today announced the launch of MDisrupt, the first medical diligence company for the healthtech industry. The new service aims to help investors make wiser bets, assure healthtech entrepreneurs they are on track for market adoption, and steer self-insured employers and commercial retailers toward the most sound healthtech partners.
The first-of-its-kind firm provides an independent, transparent review of healthtech products, data, claims and processes. If deficiencies are identified, MDisrupt offers counsel to startups and the ability to utilize an extensive network of experienced health professionals to help fill in the gaps.
"Before making a sizable investment, it's not uncommon for investors to conduct legal diligence, financial diligence and technical diligence in a healthtech startup. They rarely do the detailed medical diligence, and we believe that for a health product this should be a routine part of the diligence process," says Chief Executive Officer and co-founder Ruby Gadelrab. "MDisrupt helps healthtech startups and their investors spot avoidable and costly mistakes early on, and get potentially impactful products to patients faster and more responsibly."
Co-founded by Gadelrab and Chief Medical Officer Dr. Jill Hagenkord, MDisrupt seeks to bridge the cultural divide between healthtech and healthcare. Although healthtech is one of the fastest growing industries, with more than $50 billion spent since 2011, there are relatively few startup success stories. By providing impartial guidance for investors and by counseling healthtech startups directly, MDisrupt helps accelerate the path to market adoption while satisfying the higher regulatory hurdles that healthcare products need to clear.
"In tech culture, the classic saying goes 'move fast and break things,' meaning get products to market quickly and learn from your failures. This works well for consumer products, but the healthcare industry with its regulators, payors, physicians and professional organizations expects a higher level of assurance before applying a new product to real patients. This is the essence of the 'first, do no harm' philosophy of the Hippocratic oath," says Dr. Hagenkord. "At MDisrupt we believe we can unite the best of both worlds and achieve the shared goal of getting impactful health products to patients faster and more responsibly."
MDisrupt operates by conducting an independent, objective and transparent medical diligence assessment that consists of three components
- 1: MD Analysis, where impartial MDisruptors carefully review a startup's products, data and claims, as well as their regulatory and commercial strategy.
- 2: MD Score, which is a graded evaluation of the startup. A high score can be taken to investors as independent validation of their clinical and commercial viability.
- 3: MD Report, which is a detailed and itemized report of actions a startup can take to improve their score.
Once the assessment is complete, they work with their MDisruptors—a network of experienced advisors across the scientific, medical, regulatory and commercial sectors of the healthcare industry—to connect with the healthtech companies that need their expertise to gain market adoption and reimbursement in a healthcare setting.
Gadelrab and Dr. Hagenkord both began their careers in the traditional healthcare sector and moved to Silicon Valley 10 years ago, inspired by early trends in consumer-empowered health products. They quickly realized that the area's startup culture was severely lacking in healthcare representation, leading to some high-profile missteps in healthtech companies. Led by a medical doctor and a commercial strategist, MDisrupt intimately knows and can help counsel startups on the formula for widespread market adoption.
Venture capitalist investors, healthtech startups, self-insured employers and commercial retailers can learn more and contact MDisrupt by going to MDisrupt.com.
MDisrupt is the world's first medical diligence company for the healthtech industry. The company believes that the most impactful health products should make it to patients faster. Their mission is to unite healthtech and healthcare communities to help accelerate the responsible disruption of medicine. To learn more, visit MDisrupt.com.
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