Life365 Grabs Share of $1.5 Million Technology Commercialization GrantThursday, December 21, 2017
Digital health startup Life365 has been selected as a winner of the Fall 2017 Arizona Innovation Challenge, and will receive a share of $1.5 million to accelerate their business growth.
Life365’s connected health platform enables healthcare systems to transition patient care away from expensive clinical environments with connected healthcare solutions used in the home. Vital sign information (e.g., blood pressure, glucose, ECG), and other patient generated data, gathered from the home can be monitored by care staff who can intervene before costly care episodes occur, like hospitalization. Life365 solutions include a suite of devices and software applications designed to engage patients and help them manage their health.
This is Life365 CEO, Kent Dicks’ second foray into healthcare technology, having previously founded MedApps, a mobile health solution for remote patient monitoring, in 2006. Most of the Life365 team worked with Dicks at MedApps, which was acquired by Alere Inc. (NYSE: ALR) in 2012.
“This is an exciting time for our new venture,” said Dicks. “We are taking full advantage of the latest technologies in connectivity, health sensors, and other platforms. We saw a need in the industry to connect these disparate solutions into an easy to implement, scalable platform, and with new reimbursement codes for remote health monitoring coming in 2018, the demand for connected health solutions should be higher than ever.”
The Arizona Commerce Authority (ACA), who oversees the Arizona Innovation Challenge, awards $3 million annually to the most promising technology companies, which is the most money awarded in the country for a technology commercialization challenge. The goal of the challenge is to drive economic growth and job creation for the state of Arizona, and is partially funded through Arizona lottery dollars. The bi-annual competition is extremely competitive, with judges assessing more than 100 applications each spring and fall, on rigorous criteria including business plan, technology potential, and qualifications of the team. Through three rounds of competition, judges select only the top six most qualified and innovative companies as awardees.
“We’re fortunate to live in state that values innovation and provides programs like the AIC competition,” said Dicks. “We’re honored to be selected and recognized for our efforts in transforming healthcare delivery.”
Life365 is a part of BioAccel's bioscience company portfolio.
More about Life365
Life365 Inc. is a digital health technology company focused on helping healthcare systems deploy successful home health monitoring programs. Life365’s platform integrates devices, applications, and patient engagement tools to enable improved health outcomes, operational efficiencies, and lower healthcare costs. Solutions include connected devices to collect vitals, two-way video, patient education, and software integration to electronic health records. Life365 is based in Tempe, Arizona. For more information visit http://life365inc.com.
More about BioAccel
Based in metropolitan Phoenix, Arizona, BioAccel is a 501(c)(3) nonprofit organization accelerating the development of new bioscience companies and biomedical products by providing entrepreneurs with the training, mentoring, and support they need to succeed in one of the most heavily regulated and strategically important industries: Biomedical technology. For more information visit http://www.bioaccel.org/.