Earlier this year, Equifund-listed Assure Health decided that – thanks to several company successes – they would close their Reg-CF offering earlier than anticipated.
However, we weren’t allowed to tell you the details behind several of their most exciting corporate developments because deals were still being finalized.
Today, we’re finally going to spill the beans on two of them…
- 1) Signing a key contract with a national player in the healthcare space. This player processes over 1 million patient touch points per week and will dramatically increase Assure Health’s ability to scale customer acquisition.
If you’re new to Equifund and didn’t get a chance to review Assure Health’s offering, they offer what is potentially the first ever, “direct-to-consumer” remote patient monitoring service that is Medicare approved.
This means tens of millions of Americans who are on Medicare could have the opportunity to sign up for Assure Health at no out of pocket cost (as it’s fully reimbursable for patients who qualify).
And for Assure Health, based on some “back of the napkin” math, it represents a possible pathway towards what may become a potential billion-dollar company.
If Assure Health maintains an average of $130 per month in reimbursements per patient and obtains 20,000 patients, then 20,000 * $130/month = $31.2 million per year in annual revenue.
At a 32x multiple on revenue, Assure Health would be valued at ~$1bn dollars (of course, no assurance can be given that Assure Health will be able to achieve these milestones, or be valued at those multiples).
But the key thing to focus on here is this: Assure Health’s valuation is strongly influenced by how many patients they can onboard.
That’s why management has been focused on securing major partnership agreements that can help them get access to tens of thousands of potential patients!
The major deal they’d been working on was a partnership with Higi – a medical technology company that creates health station kiosks. The kiosks appear in supermarkets, pharmacies, and other retail locations.
With more than 11,000 kiosks in the United States, it also means they have sizable marketing distribution into the target market Assure Health is pursuing!
After several months of negotiating, Higi recently launched “Higi Care Everyday” powered by Assure Health.”
But that’s not all…
One of the other major strategic objectives of the Assure Health team has been to partner with a major academic healthcare system.
Why? Because it opens up a pathway to create clinical studies using the Assure Health virtual care platform (which, in turn, could drive patient enrollment and other future partnerships opportunities).
- 2) On October 6th, 2021, Michigan State University’s MSU Health Care announced their partnership with Higi Care Everyday, powered by Assure Health!
“In my practice as a primary care doctor for adults, blood pressure and blood sugar monitoring are valuable and important indicators that can tell us about problems a patient may be experiencing weeks and months before they are due to be seen back in the clinic,” said Churlsun Han, MD, MSU Health Care internal medicine provider.
“Higi has the potential to replace the often weekly and daily calls for blood pressure or blood sugar readings and at the same time improve patient use, in a friendly and personalized way.”
What’s Next for Assure Health?
While it’s still too early to be forecasting a potential exit, we’re excited to see the progress the Assure Health team is making.
If you’re interested in learning more about Assure Health – and if you (or someone you know) qualifies for their service – go here to check out their website.
Every new patient they enroll gets them closer to their 20,000 patient goal.
Your early-stage experts,
Equifund.com
