DoryHealth

We are currently developing the most convenient medication management service to relieve busy chronically ill patients from their burden and, in the process, improve their intake behavior while generating Real-World-Data. We do so by combining a smart pillbox that tracks the intake behavior with a medication delivery service and a reminder app.

We launched our B2B2C service in June 2022 and have partnered with 10+ pharmacies within the first 6 months after launch growing our MRR over 40% per month. We are currently in discussions with pharmacy and physician chains for fast expansion. We also developed a prototype of the smart pillbox and have a patent pending on our key technology.

We are focusing on younger chronically ill patients (<65 years old) who need to take several pills on a regular basis. These patients need to live in a country where the delivery medication via mail order is allowed. This leaves us with a global Total Addressable Market (TAM) of 20M patients or $ 4.4 Bn annual recurring revenue (ARR). We will focus our efforts the upcoming years on Switzerland, UK and US because of size and healthcare system suitability. This represents a Serviceable Addressable Market (SAM) of 14M patients or CHF 3.2 Bn ARR. We expect to reach 500’000 patients within the next 5 years generating an ARR of >$100 M.

About 50% of chronically ill patient do not take their medication as prescribed. 17% don’t even fill their prescription. Curiously, young patients are particularly prone to this behavior.
This medication non-adherence has severe consequences for the patients’ health, it contributes to increased health cost for society and for the pharmaceutical industry, it translates to revenue loss of $637 B and a decreased drug efficacy - which in turn affects real-world-evidence studies.

Our approach is medication adherence though convenience. We offer chronically ill patients an all-round carefree service that takes care of all inconvenient tasks related to managing medication so the patients can finally focus on more pleasant things in life and the intake behavior improves as a side-effect.
We uniquely combine a smart pillbox, with a medication delivery service and a mobile app. Our smart pillbox tracks the intake behavior of patients. Our partner pharmacies deliver the medication regularly to the patients’ doorstep pre-sorted by intake time points in convenient refill packages that fit into our smart pillbox. And our app automatically reminds the patient when it’s time for their medication based on their treatment plan.
With this solution we not only help patients to become more adherent we also collect very valuable data: patient data, disease distribution, prescribed medication, and intake behavior data.

There are various other solutions available on the market: smart pillboxes, reminder apps, health apps, blister services and pill dispensers. However, all of these products only target some aspects of the customers need such as reminder functionality, adherence tracking, portability, pre-sorted medication or a medication delivery service.
We are the only solution available on the market covering all of these needs in one simple solution. With this “all-in-on” approach, we position ourselves as being the most convenient.

We believe adherence solutions must bring additional value to the patients beyond increased adherence so that the patients want to use the solution. This is why we focus on making managing medication more convenient for the patients. Being the most convenient solution on the market is also our biggest competitive advantage.
Moreover, many competitor solutions are primarily designed for elderly patients and often focus on single aspects of the medication adherence problem. We can differentiate ourselves from this competition by being mobile friendly, being integrated with providers, and by addressing several aspects of medication non-adherence at once.

We have three primary sources of revenue:
1. Subscription fee from partner pharmacies for the DoryGo service
2. Subscription fee from pharmaceutical companies for increasing adherence
3. Monetization of data

Cost structure:
- Marketing & Sales
- Manufacturing
- Operations
- R&D

Our service is free for the patients. In Switzerland, weekly dosing systems like ours are financed by basic health insurance. Therefore, we offer our service to patients for free and charge pharmacies a monthly commission fee for each subscribed customer.
Pharmacies benefit fr om our service in several ways: more customers (new market), improved customer retention and 2 times more revenue per customer.
In other countries, wh ere our service is not covered through health insurance, we rely primarily on revenue from pharmaceutical companies in return for patient data and increased sales.

We will use the funds for three key milestones:
- Best Go-To-Market Strategy identified. We found a scalable way to sell our service.
- From MVP to commercial product. We have product-market-fit.
- Lay foundation for Big Data. Smart pillbox and data dashboard developed.

We will share this information in after the first meeting.

Innosuisse Core Coaching
Newchip Accelerator

Patent application no: 01590/20