ANDHealth, Australia's leading organisation in accelerating the commercialisation of evidence-based digital health technologies, today announced new outcomes achieved by the Australian companies which participated in the two-year pilot of the ANDHealth+ Program.
These outcomes demonstrate that during the past 6 months, where widespread job losses and stagnant business growth have been the norm for many industries, the digital health companies supported by ANDHealth have grown substantially.
The industry's resilience, remarkable growth across all metrics and its significant impact on patients, during the 6 month peak of the COVID-19 pandemic in Australia, clearly highlight the need for Government investment into and support of our nascent digital health sector, as it looks to rebuild the economy and reshape our healthcare system.
ANDHealth+ companies report quarterly against key growth metrics. At the end of the September 2020 quarter cumulative (since first data was collected in December 2017) outcomes included:
- $31.6M in capital raised
- $17.6M in revenues
- 217 jobs created (including 12 C-suite jobs)
- 117,885 patients served
- 38 clinical trials and studies commenced
- 326 operational sites
- 850 commercial pilots commenced
- 171 new commercial customers
- 18 new international markets entered
- 120 new product releases
Demonstrating both the growth potential of this nascent industry, and also its ability to support the health of Australians during significant disruption to the health system, over the last 6 months cohorts reported increases of:
- 10% in new capital raised ($4.6M)
- 48% in revenue ($5.2M)
- 32% in new jobs (FTEs) and 40% in new C-suite roles
- 68% in new patients served
- 36% in clinical trials and studies commenced
- 12% in operational sites
- 30% in new product releases
The ANDHealth+ cohort companies are DoseMe, CancerAid, Perx, Atmo, Vitalic, Seer Medical, AllergyPal, Health Delivered, Kesem Health and SkinView. They were selected by a multi-sector, C-suite member panel from more than 150 applicants to take part in the ANDHealth+ program. Two cohorts of five companies (one cohort in FY2018, one in FY2019) participated in participated in a globally unique deep industry immersion and advisory program which delivered tailored support and advice specific to their needs and business strategy. Unlike other programs, ANDHealth+ is not curriculum-based but involves a tailored, multi-disciplinary, multi-sector panel of C-suite executives advising and supporting the company across all aspects of its business for up to nine months.