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Health 2.0 Names Three Companies to Win Challenges and Have Success: AdhereTech, Flatiron Health, and Healthify

Health 2.0 is a wonderful organization that organizes world-class healthcare conferences, performs market research, and organizes industry-sponsored challenges. Here is some information about their latter offering:

[In these challenges] teams to develop technologies to address some of healthcare’s most complex issues. Over 3-6 months teams work on design concepts and prototypes for a variety of challenges sponsored by all types of organizations from charitable foundations to for-profit companies. Final submissions are judged by a panel of industry experts and winners are awarded cash prizes.

In addition to the funding awards, the industry recognition is incredibly valuable for the participants:

It’s not only money that draws teams to these competitions, participants gain validation of their product, publicity and market access. Reflecting on the past few years, we want to share the successes of these challenges.

AdhereTech, Flatiron Health, and Healthify were specifically chosen by Health 2.0 as three companies to see direct benefits from these challenges:

[AdhereTech has had success] in three Health 2.0 Developer Challenges: the Henry Ford Innovation Challenge, Innovate Health Tech NYC, and Pilot Health Tech 2013 (in which they partnered with Weill Cornell Medical Center). A cause for celebration, they just raised $1.75 million in Series A funding. AdhereTech is currently piloting their product with the Walter Reed National Military Medical Center and [major pharmaceutical companies have already deployed their product.]

We highly recommend all relevant Health 2.0 Challenges to companies in the health-tech space!

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AdhereTech CEO Josh Stein to Speak at TEDMED 2014 about Smart Medical Devices

AdhereTech is honored to announce that we will be speaking at TEDMED 2014. TEDMED is an incredible organization and event, which you can learn more about here

TEDMED is a global community dedicated to unlocking imagination in service of health and medicine. Our goal is to seed the innovations of today, making possible the breakthroughs of tomorrow…for a healthier, more vibrant humanity. Our community convenes year-round online at TEDMED.com. TEDMED’s annual gathering includes a unified stage program and innovation showcase taking place simultaneously in two co-equal host cities: in Washington, DC at the John F. Kennedy Center for the Performing arts, and in San Francisco, CA at the Palace of Fine Arts.

AdhereTech is humbled to be speaking at this year’s event. In fact, we were also lucky enough to sit on a TEDMED 2013 panel titled “Lessons from the Trajectory of Innovation.”

For TEDMED 2014, AdhereTech will be speaking in the "Weird and Wonderful" session, on September 12:

This session offers a joyful survey of surprising combinations and remarkable results. It’s about science and health trends that came out of left field… in a good way.

AdhereTech’s talk will analyze the emergence of connected medical devices, from a perspective that is often overlooked.

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The German Center for Research and Innovation Releases Annual Report, Featuring AdhereTech’s 2013 Healthcare Innovation World Cup Victory & Boehringer Ingelheim

As you know, one of AdhereTech’s proudest accomplishments is winning the 2013 Healthcare Innovation World Cup. This achievement was recently covered in the German Center for Research and Innovation’s Annual Report (AdhereTech’s coverage begins on PDF page 15):

The Healthcare Innovation World Cup challenges entrepreneurs and innovators in healthcare and information technology to tackle global public health issues. More than 100 teams representing 20 countries around the globe submitted… innovations for the competition, which awarded a total $75,000 in prizes to semifinalists and finalists. AdhereTech, the creators of wireless pill bottles to help improve medication adherence, won the $50,000 first prize.

The GCRI continues to provide value to AdhereTech, as CEO Josh Stein is quoted in the article:

"AdhereTech won the Healthcare Innovation World Cup, which was sponsored by Boehringer Ingelheim and the German Center for Research and Innovation. The GCRI maintains a fruitful relationship with our company as we continue to grow."

The competition has also resulted in a mutually beneficial relationship between AdhereTech and Boehringer Ingelheim:

In addition to the incredible press coverage and award funding, AdhereTech also benefited from being able to build a solid relationship with Boehringer Ingelheim, an innovative pharmaceutical company. According to Stein, the company has since secured a pilot with BI and a leading BI executive has become one of his company’s most helpful advisors.

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Productive AdhereTech Summer Recapped in Nuviun Article: “AdhereTech Gets $1.75 Million And Second Patent, Readies Next-Gen Smart Pill Bottle”

The AdhereTech team has had a busy and constructive summer. Our accomplishments of the past few months can be summed up in a comprehensive article by Nuviun, titled "AdhereTech Gets $1.75 Million And Second Patent, Readies Next-Gen Smart Pill Bottle." The article starts from the top:

AdhereTech, just raised $1.75 million in Series A funding from unnamed investors. This comes a week after it secured a second patent in the United States for its smart pill bottle that reminds patients to take the right pills on time.

The report also discusses our next-gen pill bottle:

A sizable percentage of [AdhereTech’s] funding will go toward designing and building Generation 2 smart pill bottles. The functionality and technology will remain very similar to the Gen 1 bottles, but the Gen 2 bottles will be smaller, cheaper, and easier to mass manufacture – with some additional enhancements, too.

AdhereTech intends to roll out the second generation smart pill bottles next year. They will feature the same adherence notification and transmission technology included in a second patent that the company just secured.

The article also touches on one of our favorite features - the AdhereTech system’s ability to ask patients why a dose was missed:

The system stores and analyzes patients’ responses for possible immediate intervention. For instance, if a patient reports adverse effects from taking a medication, the system refers the patient to a case manager who can contact the patient and give prompt advice remotely. Instead of having the patient wait for the next doctor’s appointment, which can take several days or weeks, the issue can be addressed right away.

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Tablets & Capsules Magazine Features AdhereTech in Article about Medication Packaging’s Contribution to Patient Adherence

Today we’d like to share with you a very cool piece of press that AdhereTech received a short while ago: Tablets & Capsules magazine is a publication that focuses on production and packaging within the pharmaceutical industry. This popular monthly magazine is read by research scientists, packaging professionals, and many others in the pharmaceutical and supplement fields. AdhereTech was proudly featured in their cover story titled, "Packaging’s Contribution to Patient Adherence and Cost Containment" (the article begins on page 8, with AdhereTech featured on page 12 - all accessed via this link). It reads:

This article documents how… innovative packaging can increase adherence, improve patient outcomes, and reduce expenses.

The report discusses how the ideal adherence solution must be quite versatile yet nuanced:

While improving adherence offers huge rewards, success requires combining packaging research with behavioral research.

And this is exactly where AdhereTech fits in: 

A bottle-based approach is available from AdhereTech, New York, NY. These bottles automatically measure [when patients take their medication]. If a dose is missed, the AdhereTech bottle reminds the patient by placing a telephone call or sending a text message. The bottle also lights up and sounds a chime. AdhereTech’s device is in a clinical trial at Walter Reed, and this summer, the company will begin pilot programs with Boehringer Ingelheim, another large pharmaceutical company, and a leading pharmacy-benefit management company. AdhereTech has also formed a partnership with GE.

AdhereTech certainly agrees with the main conclusion of the article:

The role of packaging in solving the problem of patient adherence is destined to attract more interest from insurance companies, government-administered outpatient healthcare, the Veterans Administration, and private co-ops as they scrutinize costs and seek to improve outcomes. The potential return on wide implementation of these systems is enormous. 

And:

If we are serious about reducing healthcare costs, we must change how we deliver medications.

Thankfully, industry trends are facilitating the adoption of AdhereTech’s innovative packing technology:

It is indeed possible that using these systems may become mandatory as a way to reduce healthcare costs.