Description of Innovation

The two words you would rather not hear at a hospital, are “Welcome back”, especially if you have just been discharged. Yet one in five patients in the US find themselves back in the hospital within 30 days after being discharged. When it comes to heart failure management alone, this phenomenon has cost the US healthcare system more than US $31 billion annually. Biofourmis is reinventing remote patient monitoring that will increase patient outcomes and reduce re-admissions following discharge. Their proprietary AI technology identifies health deterioration weeks in advance of re-admission to hospital. Ultimately, their goal is to be an integrated solution and platform that actually reaches the patients, care teams, payers, and hospital providers.

Having analyzed over 100,000 patient’s physiology data, Biofourmis is currently working with leading payers, providers, and pharma’s in APAC, South Africa and the US. The company has raised about US $ 6.5M in VC funding and is backed by top Venture Capital firms and strategic partners like NSI Ventures, a unit of Singapore-based private equity (PE) firm Northstar Group and Aviva Ventures, the venture capital arm of leading global insurer, Aviva plc. Biofourmis is also in collaboration with Mayo Clinic, one of the leading hospitals in the US to refine and validate a wearable biosensor-based diagnostic algorithms and alerts to predict heart failure events.