Eight teams from around the world selected for health care business accelerator program
NORTH LITTLE ROCK, ARK. — In a video released today, HubX—LifeSciences announced that eight startup companies from around the world will come to Arkansas next month to participate in its health care business accelerator program.
“We’re delighted and honored to have a cohort of health care founders of this quality,” said Jeff Stinson, the Director of Entrepreneurship at the Arkansas Regional Innovation Hub who also directs HubX—LifeSciences. “The ability to attract technology and talent of this caliber to a first-year accelerator is due in no small part to the access provided by Baptist Health and Arkansas Blue Cross and Blue Shield, each of whom have been tremendous partners in this undertaking. We really can’t wait to get these founders to Arkansas and begin working with them.”
The eight companies selected to participate are:
- Aces Health (Atlanta): The first all-in-one, multi-platform application for clinical trials that keeps patients connected 24/7.
- Admetsys (Boston): Innovative artificial pancreas for hospital and surgical care, leveraging adaptive learning algorithms and counterbalancing treatment of insulin and glucose.
- Callie Solutions (Philadelphia): Communication platform that leads to better patient outcomes by supporting patients and their care team; improved efficiency, reduced accidents; leverages existing data sources to save money.
- Chrona (St. Louis): First mover in noninvasive deep sleep solutions using machine-learning, analytics, and emerging sleep research; delivers restorative and cognitive benefits faster to a U.S. market of 113 million sleep-deprived patients.
- Linehealth (Boston & Portugal): Connected pill dispenser that helps chronic patients adhere to complex Rx treatment regimens.
- Practech (San Francisco & Saudi Arabia): Wearable barcode scanners to converge data through hands-free input, output and process.
- Rubitection (Pittsburgh): Technology developed at Carnegie Mellon University to address limitations of early pressure ulcer assessment with a low cost monitoring tool.
- Vital Metrix (Huntsville, AL): Innovative, patented technology enables sophisticated, non-invasive, essential cardiac monitoring performed in a non-hospital environment.
HubX—LifeSciences, which was initially introduced at an Oct. 30 press conference featuring Arkansas Governor Asa Hutchinson, is the first-ever privately-funded and industry-specific business accelerator program in Arkansas. Presented by Baptist Health, Arkansas Blue Cross and Blue Shield, and the Arkansas Regional Innovation Hub, the program is designed to support and accelerate the development of new startup companies with innovative solutions to improve health care delivery in Arkansas.
“This is an amazing opportunity for these entrepreneurs that have been selected,” said Troy Wells, president and CEO of Baptist Health. “It’s exciting to realize that the work we are doing can not only help create a successful company, but also change the way health care is delivered.”
“We are highly impressed with the quality and depth of the HubX—LifeSciences cohort of companies,” said Mark White, president and chief executive officer of Arkansas Blue Cross. “These companies are developing next generation solutions to many of the problems our health system and our members face every day. We’re anxious to move forward quickly with these outstanding founders and the HubX team.”
The startups announced today were selected after several months of national and international recruitment and a rigorous vetting process. Each company will receive seed investment as well as intense mentorship and assistance during a 13-week period, with a substantial portion spent in product trials within Baptist Health. Initial seed investments into the companies will be $50,000 each, and the companies also will qualify for additional back-end investments.
The participating companies were chosen based on their potential to provide solutions to several key priorities identified by Baptist Health and Arkansas Blue Cross, which include:
- Digital health care platforms
- Health care services
- Medical devices
The accelerator will be hosted at the Innovation Hub from April-June 2016 and its director is Jeff Stinson, who also directs entrepreneurial programming at the Innovation Hub and is the executive director of the Fund for Arkansas’ Future, which is the state’s largest angel investment fund.
The Innovation Hub is planning to introduce other industry-specific accelerator programs under the HubX name in the near future.
For more information about HubX—LifeSciences, visit www.hubx.biz.
About Arkansas Blue Cross and Blue Shield
Founded in 1948, Arkansas Blue Cross and Blue Shield, an Independent Licensee of the Blue Cross and Blue Shield Association, is the largest health insurer in Arkansas. Arkansas Blue Cross and its affiliates have more than 2,700 employees. The Blue Cross and Blue Shield Association is comprised of 36 independent, locally operated Blue Cross and Blue Shield Plans that collectively provide health care coverage for 100 million — nearly one in three — Americans. Our vision is a healthcare system that provides affordable and safe care for all citizens.
About Baptist Health
Baptist Health is an Arkansas-based, locally owned and managed, not-for-profit, and faith-based health care organization. Baptist Health is also Arkansas’ most comprehensive health care organization with more than 8,300 employees operating eight hospitals. For more information about Baptist Health, please call Baptist Health HealthLine at 1-888-BAPTIST or visit the website at baptist-health.com.
About Arkansas Regional Innovation Hub
The Arkansas Regional Innovation Hub is a nonprofit organization dedicated to increasing innovative and entrepreneurial activity in Arkansas by creating a collaborative ecosystem and pipelines that mobilize the resources, programs and educational opportunities necessary to develop, attract and retain talent and to build the state’s economy.