Photo - HealthLy
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HealthLy

Family Health Management System

Serbia
Market: Medicine, Pharmacology
Stage of the project: Prototype or product is ready

Date of last change: 10.03.2021
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Idea

HealthLy is a family health and medication management system and a companion that is encompassing the crucial tools and personal health records for people interested in monitoring and improving their health and the health of their loved ones.

Current Status

We have a second version of the product ready. MVP was launched only in Serbia and has 3000 users so far for 18months and 4.8 stars reviews.
We are preparing to launch in the US within a month and it will be a freemium subscription model.
Currently, we are in negotiation (contract details) with an insurance company in Serbia and a couple of local hospitals.

Market

People with chronic conditions and their caretakers make up at least 40%+ of the population in each country. In the US, about 65% of people already use apps to measure health metrics. The majority of users are between 30 and 55 yrs of age. The female gender is represented slightly more than the male. The average household income is mid to high and the user mostly lives in urban cities.
On a global scale, the mobile health market value is predicted to reach $100B in 2021 and $300B by 2027.

Problem or Opportunity

The majority of the adult population suffers from at least one chronic disease. Due to their condition, they need regularly to adhere to medication therapies. Half of the chronic patients do not adhere correctly to their medication therapy which leads to treatment failures and hospitalizations.
People with chronic conditions and their caretakers need constantly to monitor health data, record changes and communicate with medical workers quickly.

Solution (product or service)

HealthLy is a digital therapeutics app that spurs changes in patient behavior and improves health outcomes.
It also provides a personal health records management system for families, patients or even pets.
It addresses the adherence problem and also provides new ways of communicating remotely with doctors and instantly share the health indicators changes.
HealthLy puts all health data, lab results, doctor's reports, medication management, analysis and reports in one place. This helps people react quickly to their health needs and efficiently improve their health.

Competitors

CareZone
Est. 2012 in the USA
5M+ installs
$168M raised in 3 rounds
Acquired by Wal-Mart in 2020 for around $200M

MediSafe
Est. 2012 in Israel
5M+ registered users
$51.5M raised in 5 rounds
Partnered with Merck and Takeda

OneDrop
Est. 2014 in the USA
2M+ installs
$106.2M raised in 8 rounds
Partnership with Bayer

MedHelper
Est. 1998 in Canada
200K+ installs
$1.4M raised in 1 seed round
Partnership with Comcast, Alliance Pharmacy

Advantages or differentiators

AI Analysis
with extensive reporting and historic data

All-Encompassing
set of health management tools together with personal health records management

Peers Connection
for sharing, connecting and comfort

API Connectivity
for instant measurement entry
(wearables, devices, sensors, software)

Interactions Check
instant control to avoid complications

Searchable Storage
personal medical documents & reports classified and searchable by a specialty

Reports Sharing
remotely and instantly sent to a doctor and receiving a feedback

PHR
detailed personal health records with emergency access option

Medical Resources
Latest health-related news, researches and tips

Finance

The app is based on the freemium subscription model. There is a free package and two premium levels. There is a possibility of an annual subscription with a discount and also a bulk licenses purchase for hospitals, insurers or pharmacies.
The app contains a large amount of data in regards to medication usage, adherence, demographics and health indicators correlated with therapies. All this data is interesting for pharmaceutical companies and pharmacies. There are several major pharmaceutical companies already investing in similar apps.
The cost structure is divided between the development (40%), marketing & promotions (40%) and 20% on operational cost.

Money will be spent on

It will be spent on further development and marketing, promotions.

Offer for investor

We are offering up to 10% post valuation shares

Team or Management

Risks

The majority of app's features are not unique and can be copied. Many pharmaceutical companies already invested in some of the competitors' solutions.

Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

N/A

Photos

Photo 1 - Family Health Management System
Photo 2 - Family Health Management System
Photo 3 - Family Health Management System
Photo 4 - Family Health Management System
Photo 5 - Family Health Management System
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video