2017 GlobalSTL Health Innovation Summit FAQ’s
What is BioSTL?
BioSTL advances St. Louis’ economic vitality by cultivating a strong bioscience and innovation ecosystem. BioSTL organizes business, university, and philanthropic leaders around a set of deliberate strategies that capitalize on St. Louis’ strengths, especially in medical and plant sciences. The BioSTL mission is accomplished by deploying both human and financial capital to establish and execute effective strategies to grow the innovation economy. Focus areas include: building and investing in startups through its venture development arm, BioGenerator; improving access to investment capital; ensuring appropriate physical infrastructure such as labs, incubators and research districts; promoting science- and innovation-friendly public policy; fostering a more diverse and inclusive entrepreneurial talent pool in the region; and attracting the U.S. presence of international companies through GlobalSTL.
What is GlobalSTL?
GlobalSTL, launched in 2014, is an initiative of BioSTL to attract the U.S. presence of high-growth international companies to the St. Louis region to increase innovation-based economic development. GlobalSTL recruits companies in the cybersecurity, health care, agriculture and finance industries.
This mission is accomplished by strategically connecting a qualified group of established, entrepreneurial companies from around the globe to the St. Louis region’s world-class corporations and research institutions, investors and the innovation community. The goal is to establish three wins: (1) a win for the St. Louis company accessing cutting-edge technology to boost competitive advantage; (2) a win for the international company by gaining access to prized customers and strategic partners in the United States; and (3) leveraging the first two wins to convince these international companies to open a U.S. headquarters in St. Louis, thus creating jobs and bringing economic activity into the ecosystem.
GlobalSTL’s efforts have resulted in five Israeli companies opening their U.S. headquarters in St. Louis within the past 24 months. These innovative companies include:
GlobalSTL expanded into Ireland in 2016 and is evaluating future opportunities in Argentina, India, France, and China.
What is the 2017 GlobalSTL Health Innovation Summit?
Since its inception, GlobalSTL has built deep ties into the health innovation ecosystems of Israel and Ireland. GlobalSTL has identified 13 Israeli and Irish companies, plus one U.S. company with ties to St. Louis, to present their compelling, high-value technology to regional healthcare systems and corporations. The inaugural Health Innovation Summit in St. Louis will explore potential opportunities for collaboration and investment in person, allow participants to witness firsthand the world-class health innovation centers in the St. Louis area, and facilitate partnerships and one-on-one networking among international companies and local providers.
When will the GlobalSTL Health Innovation Summit take place?
The Summit will be held on June 28, 2017, at Hillman Hall at Washington University in St. Louis.
What is the itinerary for the Summit?
An invitation-only delegation of 14 companies will begin the day with a tour of health innovation centers in St. Louis.
These include the Mercy Virtual Care Center, the world’s first facility dedicated to telehealth; and, the global headquarters of Express Scripts, a Fortune 100 company that is the largest provider of integrated pharmacy benefit management (PBM) services in the U.S. Following the tours, the delegation will meet with leaders of the Envolve Center for Health Behavior Change, a unique academic-industry collaboration between the Brown School at Washington University in St. Louis, the Center for Advanced Hindsight at Duke University, and Centene Corporation.
The afternoon’s activities will include a larger group of healthcare executives, investors, advisers, and providers. Lunch will feature keynote addresses by Dan Cave, president and chief executive officer of Envolve PeopleCare, and Vance Moore, president of Business Integration at Mercy; a pitch session by delegation companies to the St. Louis regional innovation and investor community; and one-on-one meetings between delegation companies and potential strategic partners. The day will conclude with a networking reception attended by participants, as well as St. Louis community leaders and government officials.
What companies and healthcare systems are attending the Summit?
Ascension Health | BJC HealthCare | Centene Corporation | Express Scripts | Mercy | OSF HealthCare | Saint Louis University School of Medicine | SSMHealth | Washington University in St. Louis School of Medicine
The following venture capital and investment firms also are attending the Summit:
Ascension Ventures | BioGenerator | Cultivation Capital | iSelect Fund | Lewis & Clark Ventures | MVM Life Science Partners | Nanodimension | REX Health Ventures | SixThirty | St. Louis Arch Angels
Why were companies from Israel and Ireland invited to be part of the delegation?
The specific innovation companies selected to present at the Summit represent technologies and solutions that are of high interest to St. Louis healthcare systems and corporations. In choosing participants, the GlobalSTL team looked for companies that were already validated by investors, as well as those that have a developed product, revenue and customers. These companies have proven track records and are ready to access the U.S market. In addition, they are companies with high-growth potential, laden with the talent and technology to leverage the buying power of the St. Louis region to fuel their growth.
Israel is a world leader in healthcare innovation and a pioneer in electronic health records (EHR) deployment, population health management, telehealth, and consumer-health engagement. It has a pipeline of more than 410 digital health startups. Israel is home to a thriving innovation ecosystem and is collectively second only to Silicon Valley in global technology startups. Each year, $6 billion flows into Israel through exits, mergers, acquisitions and initial public offerings, according to Israel’s IVC Research Center. GlobalSTL team member Uri Attir is based in Israel and was instrumental in selecting Israeli companies for the Summit.
Ireland is home to nine out of 10 global pharmaceutical companies and eight out of the top 10 med-tech companies. All the top U.S. technology companies have a presence in Ireland. Together, this forms the foundation for Ireland’s leadership in digital healthcare technologies. Additionally, Ireland is a small, energetic and nimble country that understands entrepreneurism and has a vibrant startup community, which fuels its economy. Since 2016, GlobalSTL has partnered with Enterprise Ireland, a government agency that helps fund and promote Irish startups globally. The organization is the third largest annual funder of startups in the world and has assisted more than 250 companies get off the ground.
What companies will be attending the event from Israel and Ireland?
Israeli companies include:
- ContinUse Biometrics is a bio-sensing technology that eliminates the need to maintain continuous contact with the body; thus, providing a non-intrusive, hygienic, and affordable healthcare sensing for telemedicine and tracking chronic diseases.
- MDClone specializes in electronic health records interoperability that uses revolutionary, patented technology to produce synthetic data utility while providing maximum patient privacy that drastically reduces time-to-insights.
- Medial EarlySign improves the way risk management and decision making are done on large populations by using next-gen stratification, enhancing patient interactions with personalized insights, and early flagging of individuals with clinical actionable outcomes related to diseases.
- MobileODT turns mobile phones into intelligent visual diagnostic tools to enable health providers to conduct visual inspections on the level of an expert practitioner to increase the reach of healthcare systems while reducing costs and improving outcomes.
- Telesofia is a platform that clarifies medical information for patients by providing easy-to-understand, personalized educational videos based on their clinical data.
- Wikaya is an artificial intelligence platform that helps patients improve their preventative efforts through a scoring system. The Prevention Score is calculated based on the efforts made to reduce the modifiable risk factors as well as compliance to screening and follow-up tests.
- Zebra Medical Vision helps providers analyze millions of imaging records to provide better, faster, more accurate care to patients at a lower cost through its artificial intelligence platform that teaches computers to automatically read and diagnose imaging data.
Irish companies include:
- 3D4Medical is the world’s leading developer of 3D medical technology for education. Its first product, Complete Ortho, is a clinical solution that allows a healthcare professional to take a patient through the entire orthopedic consult with the aid of ground-breaking 3D technology and animations to help patients better understand their condition and the recommended medical procedure.
- Beats Medical is a Parkinson’s disease treatment that uses personalized metronome therapy via mobile devices to improve mobility and reduce symptoms.
- Kitman Labs technology reduces injury risk and optimizes physical performance by using machine learning and data science to understand how previous musculoskeletal injuries have occurred to determine when an athlete is at increased risk of injury.
- RelateCare provides patient scheduling and post-operative/discharge patient contact management for top US hospitals to properly schedule patient visits, increase patient satisfaction, and lower call center costs.
- SilverCloud is an online behavioral health platform that enables healthcare organizations to provide patients with easier and earlier access to mental health care and support, while significantly lowering the cost of service delivery, decreasing readmissions, and increasing treatment/medication adherence and compliance.
- SwiftQueue allows clinics to communicate available appointments for patients to manage their next visit online and improve communication flow while delivering operational excellence and improved efficiencies.
Also invited is U.S. company with ties to St. Louis (14.) Virta, an online specialty medical clinic that reverses Type 2 diabetes without medications or surgery.
What is the digital health innovation sector?
Digital health innovation encompasses a wide variety of products, services and applications that are often enabled by the Internet or distributed delivery approaches. These digital methods could include:
- Patient-touching diagnostics, interventions, or implantables and devices.
- Evidence-based and data-driven care customized treatments based on personal traits and circumstances. This could include the automation of evidence-based protocols to tailor care plans based on a person’s personal physiology, or customized, post-acute care plans incorporating psychographic or demographic data.
- Advances that foster communication between patients and providers, to monitor patient progress, allowing for early intervention when needed, or among providers to track patient progress.
- Clinical applications that improve efficiencies or innovations that transform standard business functions such as scheduling or administration.
What does the landscape look like in the digital health innovation sector?
- Health innovation and digital health care is attracting significant investor attention. According to Startup Health’s 2016 Report on Digital Health Deal Flow Records:
- In 2016 alone, $7.9 billion was invested in 585 companies within the digital health industry in the U.S.
- Digital health companies with products centered on patient experiences accounted for the most deals, as 163 companies collectively raised more than $2 billion.
- Specifically, these patient experience companies allowed consumers to be engaged in one of the following areas (number of deals in parentheses):
Vital sign monitoring (85 deals)
Emergency detection and response (48 deals)
Care navigation (201 deals)
Physical fitness (189 deals)
Diet and nutrition (74 deals)
Social engagement (169 deals)
Behavioral and emotional health (144 deals)
Medical management (111 deals)
Aging with vitality (90 deals)
- The use of EHRs, health apps and wearables has increased significantly in just two years. According to the 2016 Accenture Consumer Survey on Patient Engagement:
- More U.S. consumers with EHRs are accessing their records, 45 percent in 2016 versus 27 percent in 2014
- Health technology users ages 65 to 74 are most likely to have turned to their EHRs to manage their health (38 percent of people ages 65 to 74)
- Use of health apps doubled between 2014 and 2016 (up from 16 percent in 2014 to 33 percent in 2016), among consumers who use technology to manage their health
- Use of health wearables has also doubled (21 percent in 2016 versus nine percent in 2014)
- Both clinicians and consumers are realizing the tremendous benefits of the adoption and continued use of digital technology. According to PricewaterhouseCoopers’ Healthcare Delivery of the Future report:
- 79 percent of physicians say mobile devices help them more effectively coordinate care
- 42 percent of physicians would be comfortable relying on results of patient DIY tests to prescribe medication
- 30 percent of physicians are electronically sharing data with physicians outside of their practice
- 68 percent of physicians would be willing to prescribe a mobile health app to help a patient manage a chronic disease
- 47 percent of consumers agree that mobile devices can help clinicians coordinate care more effectively
- 50 percent of consumers would be likely to use devices attached to a phone for healthcare evaluations (i.e. check for ear infection, strep test, ECG)
- 56 percent of consumers would be comfortable having their health data shared among healthcare organizations if it meant improved care coordination
- 65 percent of consumers with one or more health apps on their phones or tablets are using these apps at least once each week
Who are the sponsors of the 2017 GlobalSTL Health Innovation Summit?
BJC Healthcare | Centene Corporation | Cultivation Capital | Enterprise Ireland | Lewis & Clark Ventures | Missouri Department of Economic Development | Missouri Partnership | Rubin Brown | Saint Louis University | Spencer Fane | Thompson Coburn | Veterans Administration of St. Louis | Washington University in St. Louis
Where can I find additional information about the Health Innovation Summit, GlobalSTL and BioSTL?
To arrange interviews and photo/video opportunities, or for more information about the 2017 GlobalSTL Health Innovation Summit, please contact:
BioSTL Communications Director
Find BioSTL (www.biostl.org) online and follow us on Twitter @BioSTL. Please join us in using the hashtag #GlobalSTLhealth when covering the event.
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