A $5 Billion Opportunity to Treat Heart Failure

Heyyyo,

March is my absolute favorite month; St. Patty’s Day, Spring Break, March Madness and Chicago Inno’s #TechMadness… which is basically the startup version of March Madness! What’s not to love, right?!?

For me it’s always very cool because I get to see some of the amazing founders I’ve interviewed finally earn a spot on a list of Chicago’s fastest growing tech companies.

This year is different though; I get to see my own company make the list (proud dad moment). Obviously, it would warm my heart to earn your vote — but, participating in the pool is a fantastic way to learn about what Chicago Tech has to offer!

Click Away 👉 https://bit.ly/3l4E9GM

[Extra Points for Songfinch votes — click on the purple bird]

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On the pod: If you’ve followed my podcast over the years, you know I love me some InsurTech (just ask former Lightbank MP Vic Pascucci, lol). And, what’s not to like??? Clearcover, Snapsheet, Kin Insurance, Vouch, Coverwallet, AmFam Ventures, FIGO, Dais, Obie… to name a few! Time to add another disruptor to the list — Coterie.

Here's my podcast w/ Coterie founder David McFarland 👉 https://spoti.fi/3bwAAWJ

Follow me on Twitter @kitun.

Scott

#pitchreview time!

Company Bio

Oracle Health is a heart failure cardiac monitor using remote monitoring technology and AI.

Oracle Health is developing a tiny, insertable cardiac device to monitor Heart Failure and reduce unnecessary hospitalizations. This tiny device utilizes multi-sensors, remote monitoring technology and cloud based Artificial Intelligence for long-term comprehensive cardiac monitoring.

This is a simple 2-minute office procedure that does not require a follow up. Thus saving time for both patients and cardiologists.

Meet the Founder

Watch my full interview with Oracle Health founder and CEO Jaeson Bang, here.

Jaeson Bang is Oracle Health’s founder & CEO. Prior to this, Jaeson spent nearly two decades in the clinical-tech and startup space working for Medtronic, CVRx, Abiom, and Keystone Heart (Israeli startup) focused on operations and development.

Traction

• World renowned team of physicians, scientists, engineers & entrepreneurs 

• 180 years of combined expertise in Heart Failure and implantable devices

• 25 Heart Failure patients already enrolled in pre-clinical testing

• Accepted into exclusive Johnson & Johnson Innovation Network

Market Opportunity

Oracle Health’s monitor promises to capture part of the $5.3 billion market for arrhythmia detection devices. Problem is, Oracle will have to contend with a handful of competitors ranging from venture-backed startups to established medical device manufacturers developing their own implants for tracking heart failure.

Eko, for instance, creates a digital stethoscope for more precise heart and lung monitoring in cardiac patients. While the company doesn't have an implantable device, as with Oracle, it does have nearly $100m in venture capital, and it’s not hard to imagine Eko using that war chest to expand its suite of products and develop an implantable device of its own. Same with Analytics 4 Lyfe, a Toronto-based company that has raised $29 million to develop A.I. solutions for diagnosing coronary artery disease. AliveCor, out of the Bay Area, has raised $154 million for its technology that turns a smartphone into an electrocardiogram recorder. Let’s not forget that Apple has integrated ECG technology into the latest version of its Apple Watch. Both companies allow for heart monitoring that is much less invasive than an implant.

Oracle aims to win out by creating a device that is far more precise and provides feedback in real-time. The hope is the device can detect heart abnormalities earlier, thus saving lives. Oracle is going to need a lot of cash (its fundraising goal is $8 million) and two years to get its product.

Still, the addressable market is large. So if Oracle can deliver on its promise of creating a better heart monitor, it can carve out a niche within this crowded space.

Terms & Takeaway

Invest in Oracle Health here 👉 https://bit.ly/38t9EFu

Security Type: Stock Purchase Agreement

Valuation Cap: $20,000,000

Investment Goal: $8,000,000

Raised (as of publishing): $721,570

Minimum Investment: $250

Here's what I like: Oracle is the minimally invasive solution. Between digital stethoscopes and Apple Watch there’s a lot of green field; Apple Watch is more of a daily tracker that proves you’re still alive, while the other option is a fairly uncomfortable medical experience— Oracle on the other hand, is a 2 minute plug & play… I think it gives people that are afraid a less frightening option. In some ways, that’s what Oracle is selling; a better way. And, if that leads to more people having the potentially life-saving procedure done, adoption will be swift!

Here's what I don't love: There are literally no assurances Oracle Health will make it to market or become a widely used device. In the SaaS universe, I can effectively buy into my market, or at least have some control over my fate. Here, I have no such control and with a $20m valuation, my stock is basically just a huge bet on Jae and team to sell the hell out of the product!

Who should invest and why: First, it’s important to note that this deal is NOT a Crowd Safe, it's actual shares of the company so once you invest you’re pretty much locked in for the ride. That said, the ride should be pretty interesting — once the product is out of testing and in production they’ll have a clear mission and you’ll know pretty quickly if there’s traction. If there is, the likelihood of a major acquisition by a medical device maker is high. [Medical device manufactures are sorta famous for “buying innovation” because internal R&D is just too resource-consuming].

However, if Oracle doesn’t make it out of production or finds a cold reception 😭

Game over.

As always, startup investing is super high-risk, anything can happen. So, don't invest money you can’t afford to fill a hole in with 🕳💸

Invest in Oracle Health here 👉 https://bit.ly/38t9EFu

Questions? DM me on Twitter @kitun

Disclaimer: It goes without saying, but this information should not be constituted as financial advice, my investing opinions are my own and all diligence is the responsibility of each individual investor.