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  • This heart care startup just made $20 million for virtual rehab services – australiabusinessblog.com

This heart care startup just made $20 million for virtual rehab services – australiabusinessblog.com

Moving Analytics (Movn), a virtual home intervention program for high-risk cardiac patients, claims to be “the most clinically validated” cardiac rehabilitation program on the market. While other online programs exist, others focus on other international markets, such as Heart2Heart, or work only with very specific current insurance partners, such as Henry Ford Health.

Moving Analytics founders and undergraduate friends Harsh Vathsangam and Shuo Qiao met their third co-founder, Ade Adesanya, at the University of Southern California. The trio had all immigrated to the United States in hopes of becoming engineers, but soon after, their goal changed to a “data-driven approach to make a dent in healthcare.”

Analytics founders are moving outside their Irvine office. From left to right: Joe Villanueva, Ade Adesanya, Harsh Vathsangam, Shuo Qiao. Image Credits: Move analysis

The Irvine-based company aims to provide recovering patients with heart attack and heart disease with a home alternative to assisted-supported care over a 12-week course.

“A big part of the program is… we provide empathy to those patients around ‘Hey, we know this is an important event that happened to you, this isn’t the end of your world and there are a lot of things you can do do if you follow our guidelines to really get a stronger heart’”, said Adesanya.

Each patient is provided with a scale with cell phone, an American Heart Association information book, exercise bands, a Bodytrace blood pressure cuff, and a Garmin fitness tracker to track and track their progress throughout the course.

Set up as a healthcare provider, the company has contracts with several insurance partners — Kaiser Permanente, Allegheny Health Network, CDPHP to name a few — and currently runs operations in 14 states with approximately 4,000 patients. If a heart patient chooses home care, they are referred to the Movn team.

Nationally, heart disease is the main cause of death in the country, which accounts for about 25% of deaths. Less than 20% of eligible cardiac rehab patients enroll in a program.

In addition, patients who also engage in cardiac rehabilitation reduce the risk of dying from a heart attack, according to a study published in the Journal of the American College of Cardiology.

According to figures provided to australiabusinessblog.com, the company claims to have seen an increase in enrollment and program completion with some of its partners. At Kaiser, for example, figures show that the percentage of past completions was at 14% and is now at 88%. Similar figures are shown with other partners.

“I think for us we just feel a sense of responsibility with this opportunity that we have to make sure that we can make the world a little bit better,” Adesanya said. “And, you know, essentially, in terms of just work and care, innovation, we can also make it a bit inclusive.”

The company declined to say how much their program cost, but claimed to offer a “cheaper” alternative to traditional in-person sessions. The average cost of a personal session is about $240, according to a study published in the National Library of Medicine.

Co-founders Ade Adesanya (left) and Shuo Qiao (right) discuss business expansions in the Moving Analytics office. Image Credits: Move analysis

Movn has been able to win over investors by securing $20 million in a Series A financing round led by Wellington Access Ventures and Seae Ventures, with the participation of Philips Ventures. According to the company, the investment comes in the form of all shares, although they declined to share at what valuation.

In total, the company has raised $30 million and will use the new money to expand its coverage across all 50 states, hire staff and begin implementing bilingual programs to better serve marginalized communities.

Shreya has been with australiabusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider australiabusinessblog.com, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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