Quake HealthTech Showcase
(aired on 9/22/20)
Quake is featuring five of our leading HealthTech companies that are solving real challenges in our post-Covid World.
Meet the Quake Teams
Quick r Care (Fund II, LA - Cohort 1) simplifies and expedites patient check in and is now operating in over 220 hospitals, clinics, and urgent care facilities, most notably Jefferson Health HCA-Beverly. The company has continued to prosper during the pandemic and is on track to eclipse $5M in gross revenues this year. In July, Quick r Care generated $604K in MRR, with additional locations, representing a backlog of $220k, waiting to be deployed.
Nonnatech (Fund I, NY - Cohort 1) is a patented remote patient monitoring (RPM) platform consisting of specialized monitoring capabilities connected to a proprietary data and analytics platform designed to identify early signs of deterioration in health focused on early intervention and prevention. These methods extend a person's longevity and improve their ability to continue living in their current living environment and community longer. Customers throughout the U.S., including Cleveland Clinic, AARP, Priority Life Care, Veterans Home and home health care companies, physician groups and health systems. Nonnatech booked $500K in revenue in the 1st half 2020 and has $11.2 M ARR in contract review.
Bluewave (Fund II, NY4) has expedited their EPA applications due to the relaxed FDA regulatory environment. They were cleared by the FDA as a disinfection device to treat items against COVID-19. This has sped up their product development and roadmap, allowing them to achieve in roughly three months what would otherwise have taken three years. They have strong top line growth, with orders for 500 devices in 2020, representing $1.5M in sales, with 40-50% YoY growth in recurring revenue built-in over the next three years. The team has raised $2M to date from Morgan Stanley, Arc Fund and Quake.
Open Health Network, a leading developer of healthcare IT data solutions for use by clinicians and lab workers as well as supporting online access by patients, today announced Constant Care: an integrated doctor/patient/specialist continuous care data framework to manage, treat and diagnose a host of the most lethal diseases and chronic conditions. Fully HIPAA- compliant, the platform has already been adopted by a number of the world’s leading hospitals and medical facilities while under development, including; Cleveland Clinic, Children's Hospital of Philadelphia, Mount Sinai, UCSF and NYU. They have $650k in ARR and $54k in MRR and are set to double revenue by EOY.
Cartogram (Fund I, NY - Cohort 1) provides indoor mapping and navigation services to 37 hospitals in 17 U.S. States. Big name customers include St. Jude's Children's Hospital, Methodist San Antonio, Arkansas Children's Hospital, Einstein Health, Boca Raton, Children's Hospital of Wisconsin, and many more (most on long term, 3+ year contracts). Revenues for the 2nd Quarter came in at roughly $200K, with net income of roughly $165K and August revenue was ~$100k.
BBY (Fund I, NY1) BBY provides breast milk for infants and families who do not have access to it. They have been focused on B2C with over 10,500 clients, but since streamlining their post-procurement processes to condense all procured milk they have added one hospital opening up B2B channel. They are positioning B2B offering as Biotech as a Service helps reduce breast milk bank storage costs since a milk bank in a hospital not only requires massive space in a NICU, but also freezer costs, and admin costs to defrost, heat and pasteurize. BBY’s MR is $375k (B2C) $15k (B2B) and AR in 2019 is $3M (B2C).