Spark xyz

MedWand Solutions, Inc

MedWand has developed a sensor-based device and software platform that enables a clinician to execute a comprehensive patient examination remotely. The technology allows a clinician to triage a patient to avoid unnecessary ER, urgent care and in-patient visits.

Rancho Santa Margarita, CA, USA

One Liner: MedWand has developed a sensor-based device and software platform that enables a clinician to execute a comprehensive patient examination remotely. The technology allows a clinician to triage a patient to avoid unnecessary ER, urgent care and in-patient visits.

Problem: Shortage of physicians, unnecessary ER, urgent care and in-patient visits, unnecessary re-admissions, and health equity for people in rural locations.

About Us: MedWand Solutions is an early commercial stage company based in Rancho Santa Margarita, CA. The company was conceived by a partnership of clinicians and medical engineers. Our mission is to enable access to quality healthcare for anyone, anywhere, anytime.

Highlights

We have taken the idea born from a physician and an engineer from a design on the back of a napkin to a fully functional medical device and software platform. The technology is cleared in the US, Saudi Arabia and Thailand and we have established a 3rd party manufacturer that has the ability to scale production. We are currently in the following evaluations which will result in significant device and SaaS revenue generation over the next few months:

Kingdom of Saudi Arabia – significant revenue opportunity

Ministry of Health provides healthcare for 60% of population

Expanded proof of concept at the MOH Seha Virtual Hospital
Started proof of concept with Saudi National Guard
Preparing to begin proof of concept with BUPA (largest

insurance company in KSA)

Thailand – significant revenue opportunity

In negotiations with the government to provide MedWands for

the 77 provinces to create a hub and spoke clinic model for

rural healthcare initiative (7,000+ units)

10 provinces are beginning proof of concept

Business Model

Business Model:
MedWand available by prescription – can be purchased by:

Physician
Hospital
Clinic
Business
Government
Patient

•Comprised of capital purchase and SaaS charges

•Flexible purchase programs (subscription model)

•Designed to be agnostic to tablet or phone (currently Android, iOS in beta testing)

•Reimbursement codes in place for both the telehealth interaction and vitals capture

Pricing Models:
Direct Purchase:

•MedWand Device - $895

•Virtual Care annual Software license fee - $300-$1,800

•Individual patient or unlimited usage

Subscription Service:

•$45-$75 per month for device

•Virtual Care monthly license fee - $25-$150 per month

•Total Monthly fee $70-$225

Quote: Our technology enables the most comprehensive patient exam (SpO2, heart rate, temperature, digital stethoscope for auscultation of heart, lungs and bowel, 1-lead ECG and a high definition 4k camera that allows assessment of ear, nose, throat and skin), ingests 3rd party bluetooth devices (spirometry, glucometer, blood pressure, 12-lead ECG and weight scale), aggregates the data into one report, and is designed to integrate into the EHR or practice management software via a resting API. The telehealth platform enables an asynchronous exam, a synchronous exam or the conversion of an asynchronous to a synchronous during exam by the push of a button. By providing this comprehensive of an examination, physicians are able to triage patients remotely to ensure they avoid unnecessary visits to the ER, urgent care, inpatient hospital stays as well as avoiding unnecessary hospital readmissions.

Revenue To Date

$900K

MRR

$10.3K

Revenue YTD

$750K

Burn Rate

$550K

Total Users

Total Users (Past 30 Days)

Daily Active Users

Monthly Active Users

Total Paying Users

MoM Growth Users

20%

Organic Traffic %

100%

CAC

$7.26K

LTV

N/A

Churn

N/A

Margins

75%

Business Strategy

Domestic:

Leverage direct sales representatives to develop and convert interested market opportunities.
Contract with Value Added Resellers (companies that currently sell products into hospitals, clinics, nursing homes and government facilities) to add MedWand to their product offering and paying a commission on product and services sold. This strategy allows us to increase our footprint exponentially without significant overhead cost as well as capitalizing on existing relations to facilitate sales.
Offer flexible pricing programs: direct purchase + SaaS or subscription pricing (monthly fee for device + SaaS) to drive revenue

International:

Select and partner with distributors that meet the following criteria:
- Experience in digital health/telehealth/telemedicine
- Currently offering software – optimally involved with EMR/EHR software
- Generate enough revenue to support investment in market

Globally

Round out the commercial team with Customer Success Managers (CSM’s) and Field Application Engineers (FAE’s). CSM’s are responsible for partnering with sales to transition customer to CSM upon close of sale to set up training and support. FAE’s are responsible for assisting customer IT departments on the integration of MedWand into the facilities’ EHR and other software platforms.

Competitive Analysys: We offer a much more comprehensive exam that is able to occur as an asynchronous exam, a synchronous exam or can be converted from an asynchronous to a synchronous exam with the push of a button. Our technology ingests data from 3rd party bluetooth devices, which will allow us to continue to add different types of examinations to the overall exam. All of the data is then aggregated into one report that can be provided to physician as an HTML report or transferred to the EHR or practice management software.

Competitor	Website
Withings	www.withings.com
Higosense	www.higosense.com
TytoCare	www.tytocare.com

Networking: We are open to meeting up to grab a coffee, or just to chat. We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!

Name	Amount
Amount Left	$8,000,000.00
Amount Raised (This Round)	$0.00
Amount Raise To Date	$25.4M
Investment Type	Pre-money
Type of Raise	Equity

Valuation

$80M

Friends & Family

$25.4M

TAM

$286B

SAM

$114B

SOM

$91.4B

Business Stage: Seed

Business Types: Investor-Backed

Healthcare

MedWand Solutions, Inc

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