Chronic care startup to launch in November

Media Coverage | October 09, 2020

On October 01, 2020

Hesitation in obtaining benefits continues as public charge rule looms

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Chronic care startup to launch in November

Trellus Health, a startup focused on chronic conditions, will launch the initial component of its pilot program in November, following a $5 million investment from Mount Sinai Health System and Cardiff, Wales-based medical manufacturer EKF Diagnostics.

The White Plains-based company focuses on building resilience in patients suffering from long-term conditions, including inflammatory bowel disease, heart disease and diabetes, using Mount Sinai’s patent-pending methodology.

“Treating a disease is not just addressing the clinical aspects but also the psychological,” said Monique Fayad, CEO of Trellus Health.

The company’s technology platform assesses a patient’s resilience and generates personalized guidance to improve it.

Trellus was incubated from Mount Sinai’s i3 Accelerator program, and the health system initiated discussion with EKF in January on participating in a seed funding round, Fayad said. Trellus offered equity in the round, and it closed in August with multiple investors, she noted. Fayad declined to provide further details on the proportion of equity each party obtained.

The seed amount will facilitate hiring and get the pilot program started, she said. The company aims to fill a head of sales position and get to a staff size of 15, hiring clinical, sales and marketing people.

The inflammatory bowel disease pilot has a physician education component that will go live in November, and the platform will launch to patients in January or February, Fayad said. Trellus is discussing contracts with two companies to participate, which could represent about 500 patients engaging with the platform by the end of 2021, she said. A discussion with a major labor union was recently postponed, she added.

The company is currently operating with a business-to-business model by working with self-insured employers, labor unions and health plans, but it aims to raise funding in 2021 to include direct-to-consumer sales, Fayad said. The goal is to reach 5,000 patients by the end of 2022.

Trellus plans to expand into the U.K. and Canada, Fayad said. EKF’s being based in the U.K. has helped facilitate discussions with the National Health Service, she noted.

EKF was founded in 1990 and reported a revenue of £44.9 million ($57.9 million) in 2019. —Shuan Sim

 

Original post https://www.crainsnewyork.com/health-pulse/hesitation-obtaining-benefits-continues-public-charge-rule-looms

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