ANDHealth’s flagship programs, ANDHealth+ and Masterclass, funded by the Medical Research Future Fund and MTPConnect's REDI program respectively, have selected and supported 44 companies with expert advice, education, mentoring and, in the case of ANDHealth+ participants, investment.
These companies have now reported impacting > 1 million patients to diagnose, treat, manage and mitigate their health conditions.
Technologies that have contributed to the milestone include, among others, Seer Medical’s device that is reimagining how people undergo epilepsy monitoring for faster paths to diagnoses and better patient outcomes; VaxApp, an immunisation management platform that enables healthcare providers across local governments, pharmacies, and workplace health providers to vaccinate more people, in less time, with less cost; and, Perx Health – a digitally-scaled care management platform that motivates high-risk patients to stick to their medical treatment plan.
ANDHealth CEO and Managing Director Bronwyn Le Grice says the 1 million patient milestone shows the significant value of investing into highly scalable Australian digital health technologies to improve the effectiveness and efficiency of how we deliver health and care in Australia.
“To reach 1 million patients through novel digital health technologies is an amazing outcome for Australia’s emerging digital health sector and a testament to the tenacity and ingenuity of Australian health innovators,” Le Grice said.
“We are currently facing headwinds in both our economy and our ability to provide health and care services across Australia. These cutting-edge technologies allow us to improve access, effectiveness and equity of healthcare services, whilst also building high value jobs and companies which can service global patient populations from right here at home.”
In Australia, the digital and connected health sector is experiencing unprecedented growth, with the number of companies supported by ANDHealth growing at 178% year on year since June 2017.
Global data has also highlighted the significant potential role of technology in healthcare system transformation. In 2021, global investment into digital health reached US$57.2 billion (a 79% increase on the US$32 billion raised in 2020) and global digital health market has been predicted to reach US$1004B by 2031, up from US$216.7B in 2022.
“Since the pandemic there is clearly an increasing willingness on the part of patients, providers, payers and physicians to positively consider the benefits of digital technology, not only as critical connected health infrastructure, but as a clinical intervention in its own right,” said Le Grice.
“The success of our homegrown technologies to-date shows Australia has the potential to be a digital health powerhouse and export our innovation globally, but further investment in digital health commercialisation is needed to make this a reality.”
The 1 million patient milestone was achieved by Australia’s leading 44 digital health companies that have taken part in the Masterclass and ANDHealth+ programs, funded by the Federal Government’s Medical Research Future Fund.
The programs are the only commercialisation programs designed specifically to support evidence-based digital health companies to successfully navigate the evolving digital health commercialisation pathway, and to access national and international investors, customers and markets.
As well as reaching 1 million patients, the companies who’ve participated in ANDHealth’s scale-up programs have raised over $165 million in new funding and generated revenues in excess of $49 million, whilst generating over 1,000 new commercial pilots and research studies.