HealthMe

Resolving the burden of medical documentation and reducing doctor’s burnout

Summary

HealthMe is tackling the burden of medical documentation, a significant unmet global need, by developing a natural-language-processing-powered mobile application that captures the key elements of a medical consultation and automatically generates medical reports for doctors in real-time.

HealthMe’s vision:

1. Short term: resolve the burden of medical documentation by building productivity tools for clinicians.
2. Long term: build the next generation of electronic medical record system.

Status on current round:

Seeking to raise £250-400k for a 12-month runway, of which £105k is committed.

Investment Interview

Explain what your venture does.

HealthMe is tackling the burden of medical documentation by developing a NLP-powered mobile application that automatically generates medical reports for doctors in real-time.

What stage is your business?

Prototype.

Describe your advisers.

Martin Rennison, Martin Carpenter, Prof James Henderson.

Give an overview of your startup's financing history.

We have invested £70k of our own money.

Explain the ownership structure of your company.

HealthMe 3 founders hold 100% of the shares.

How many employees do you have?

HealthMe is a UK SME with a core-team of Dr Mohamed Alibashe, Loy Lobo, Aditya Hadiputra and Yu Guan. The core team have previously worked together on successful projects (customer discovery and validation, proof-of-concept and product-market-fit works) and are able/setup to work remotely. Dr Mohamed Alibashe, co-founder and CEO: FTE. Yu Guan, co-founder and CTO: part-time, will work FT after funding. Loy Lobo, co-founder and Head of Business Development: part-time. Aditya Hadiputra, Head of Finance: part-time. Huizi Zhang, Lead UX/UI: part-time Sidhant Kumar, NLP Engineer: part-time. NLU engineer, FTE: with the investment.

How much money are you seeking to raise in the current round?

£250-400k.

Do you have any existing commitments to the current round?

£105k is committed.

Explain why you are raising finance.

We are raising finance for 3 reasons: 1) finalise our product development 2) launch 3 trials 3) acquire 1-2 initial customer(s).

Please explain the history of your venture.

During my clinical activity as a digestive surgeon at the Geneva University Hospital, I experienced the burden of medical documentation. I used to work overtime to complete and finalize patients notes. I decided to tackle that problem and came at Imperial College to study for my MBA and work on this business idea. I met the rest of the team at Imperial, build our network and received the support from the business school and the Enterprise Lab. We did our customer discovery and design thinking at Imperial College NHS trust.

Please explain the longer term, future vision for the Company

The long term objective is to build the next generation of medical record system, that captures the value of speech to empower not only clinicians but also patients.

Explain the core technologies and/or service propositions of your venture.

HealthMe's app will transcribe the medical consultation between a doctor and patient and generate a medical report at the end of the meeting or appointment. The primary innovation will be to create the first solution that automatically generates medical reports for doctors in real time with AI. HealthMe's app will generate the AI data source during the consultation through speech-to-text. Then, HealthMe's algorithms will retrieve medical information and categorise them into topics and diagnoses, which will be used for the creation of the medical reports. This innovative mobile application will automate the process of medical documentation and data entry in the electronic medical record system.

Does your commercial strategy rely on intellectual property assets?

HealthMe has identified a patentable step in a unique process and is working actively to protect it. However our commercial strategy doesn't rely only on the IP. The real value will come from solving this significant unmet global need for doctors.

What commercial progress have you made?

We were accepted into different prestigious accelerator programs: Imperial College accelerator program, Oxford Panaceas Stars, SimDH, Barclay’s P4 Precision Medicine -We developed the algorithms for our core technology, reaching an accuracy of 96% -We built a functioning prototype (TRL 5) that is in beta test phase -We developed the designs of our interfaces (patient and doctor), based on our end-users insights -We established a network of 3 NHS trusts which will provide test beds for the pilots. -We received LOI to buy our solution from 3 NHS trusts and one of the UK biggest homecare provider group. We also received intents to purchase our solution from a couple of GP practices and more importantly from one of the UK biggest chain of private clinics. -We also received interest from a publicly traded company to join forces.

Actions

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