Company Overview
American HealthCare Capital is pleased to exclusively present an opportunity to invest in a manufacturer of smart medical chairs and cabins. The Company was established in December 2020. and builds and manufactures modular Smart Clinic Cabins and portable Smart Clinic Chairs. In both clinics, patients can access healthcare providers via tele-triage technology. The Company was issued four patents, plus one is pending, providing unique competitive advantages. Equipped with eleven FDA approved devices and their telediagnosis capabilities, patients without acute care conditions can visit any conveniently located Smart Clinic, and providers can remotely monitor and treat their patients. With the ability to connect via satellite, the Smart Clinics democratize access to care anywhere by allowing patients to have 24/7 access, and the cost to set them up and operate them is a fraction of the cost of brick-and-mortar clinics.
The Company also offers a 360-degree holistic solution beyond telemedicine by maintaining patients\’ continuity of care. This 24/7 care management platform includes wellness management functionalities for patients and providers. The clinics can be integrated with this platform also.
The Traction
The Company has been in active discussions with prominent senior living facilities, supermarkets and medical centers and has received letters of interest for execution of delivery of 2,100 Smart Clinics over the next five years, subject to deploying clinics on an evaluation basis. This includes national retail and senior living chains, and a regional mobile health provider.
The Problem
Telemedicine companies have done a phenomenal job in reducing barriers to access and making it more affordable. However, comprehensive continuity of care and patient engagement remains a big challenge for many organizations. Patients are generally worried about the cost of follow-up visits, the time it takes to visit a physician, and wanting to avoid crowded waiting rooms that expose them to other sick patients. Additionally, clinics face unique challenges, such as recruiting staff who wish not to be bound to regular clinic hours or directly exposed to the sick.
The Solution
The Company\’s multi-patented products are designed to be placed in convenient locations such as malls, grocery stores, pharmacies, universities, airports, train stations, corporate campuses, truck stops, senior living homes, etc., where patients can visit on their own time and schedule, to connect with providers allowing doctors to monitor, utilizing built-in medical diagnostic tools and remotely triage and treat them. There is no need for medical personnel alongside the patient, and the cabins automatically self-sanitize after every patient visit. Patients served by their combined care management and clinic platform can reduce travel for outpatient services by up to 75%, receive treatment sooner at lower costs, and live healthier lives.
The Monetization Model
- Rental Fee: The Company expects to rent each Smart Clinic Chair for $2,000 per month and each Smart Clinic Cabin at a rate of $4,000 per month.
- Per Patient Visit: The Company will also earn its income from each patient\’s visit at approximately $30 per use.
- Per Subscribed Patient: The Company will also earn income from each patient based upon care management functionality from $5 to $10 per month plus up to $12 per episode.
The Chair will retail for around $52,000 and the Smart Clinic will retail for about $85,000. However, the Company wants to lease rather than sell for the first two years.
The Management Team
The founders and the management team have strong leadership experience in multi-national companies such as telecommunication, hardware, software and technology, and large pharmacy chains, as well as prominent medical centers.
The Market Size
The telemedicine and remote patient monitoring (RPM) market size is expected to reach to $41.7 Billion by 2028 with a CAGR of ~20%. The research is based on industry trend analysis, pricing analysis, and patent analysis. The RPM market is driven by healthcare-related cost advantage. Additionally, RPM allows patients to actively participate in their care management.
The Funding
The Company\’s principals have invested over $620,000 of their funds to date while not receiving any salaries or compensation for the time they invested in this project. The Company has so far received a total of $1,800,000 in funding.
The Ask
The founders and the management team of the Company have all played a major role in designing, planning, patenting, prototyping the hardware and the software, as well as obtaining initial traction and interest are extending an invitation for collaboration with a strategic and a financial sponsor who can assist in launching its production line and deliver the units to its interested customers. The founders are open to all deal structures, including a Capital Equity Raise, Convertible Debt, or a Majority-Equity-Sale in the company to achieve their goal.
