Secured Funding of $7 Million for Diabetic Foot Ulcer Treatment System Provided by Empo Health
Empo Health, a mission-driven healthcare technology company, has announced the commercialization of its solution for diabetic foot ulcer (DFU) management, following a significant investment round led by Story Ventures. The funding round, which also saw participation from VTC Ventures, Ulu Ventures, SeaX Ventures, Arben Ventures, and Gaingels, brings Empo's total capital raised to date to $15 million.
The Empo solution combines the FDA-listed Empo Footprint imaging scale with the HIPAA-compliant Empo Remote Health Link patient monitoring service. This innovative at-home monitoring system aims to reduce amputations and healthcare costs associated with DFUs, a condition that currently consumes up to $80 billion in U.S. healthcare spending annually.
The Empo Footprint is designed to be approachable and simple for patients, taking only a few seconds for the interaction. It enables patients to generate a full-color visual image of their feet at home, which is automatically transmitted to healthcare providers. This facilitates early detection of potential issues, allowing for timely interventions.
A pilot study conducted by Empo demonstrated near-daily patient engagement, indicating high adherence to the monitoring regimen. This engagement is crucial for early detection and prevention of complications. In the study, Empo successfully detected early indications of ulcers in half of the patient participants, suggesting that its solution can effectively identify and potentially prevent severe ulcers that might lead to amputations.
The Empo Remote Health Link service shares images at the right time, allowing remote determination of an appropriate course of action. This feature is expected to significantly reduce the need for hospitalizations and amputations, contributing to substantial cost savings in healthcare.
Dr. Kid Parchariyanon, Founder and Managing Partner at SeaX Ventures, expressed his excitement about the investment, stating that Empo Health supports mission-driven founders using science and technology to create real-world impact, especially in healthcare. Brian Yormak, Managing Partner of Story Ventures, also invested in Empo Health, expressing his confidence in the company's potential to revolutionize DFU management.
Empo Health is collaborating with Carilion for further development of its technology. The company is also welcoming three new members to its Board of Directors in connection with the financing: Brian Yormak, Steve Reale, and Partha Ray.
Tens of millions of Americans suffer from diabetic neuropathy and are at high risk of developing DFUs. With its innovative solution, Empo Health is poised to make a significant impact in reducing amputations and healthcare costs associated with this condition.
[1] Empo Health's pilot study results [2] Diabetic foot ulcers and their impact on healthcare costs [3] Empo Health's solution for early detection and prevention of DFUs [4] The potential cost savings of Empo Health's solution in DFU management
- The Empo Health solution, backed by a $15 million investment, aims to combat chronic conditions like chronic kidney disease, cancer, respiratory conditions, and mental health issues by providing a unique at-home monitoring system for diabetes-related foot ulcers.
- This innovative system, which combines the Empo Footprint imaging scale and the Empo Remote Health Link patient monitoring service, targets reducing amputations and associated healthcare costs, curbing the $80 billion spent yearly in the U.S. on diabetic foot ulcers.
- The Empo Footprint imaging scale offers a user-friendly, quick process for patients and enables the generation of full-color images of the feet at home, empowering early detection of potential issues.
- Additionally, the Empo Remote Health Link service allows timely transmission of these images to healthcare providers, enabling immediate interventions and improving health and wellness outcomes.
- The FDA-listed and HIPAA-compliant system promises increased efficiency in the manufacturing sector, offering a cost-effective solution for managing chronic diseases.
- A pilot study revealed near-daily patient engagement, underlining the high demand for fitness and exercise solutions in managing chronic diseases like diabetes.
- This engagement proved instrumental in the early detection and prevention of diabetic foot ulcers, potentially saving millions in healthcare spending.
- The study showed that Empo Health's solution effectively identified early indicators of ulcers in half of the participants, demonstrating its potential to revolutionize the management of chronic diseases.
- The Empo Remote Health Link service ensures timely communication with healthcare providers, which can help manage critical conditions like cardiovascular health and help avoid hospitalizations.
- The company's partnership with Carilion and the addition of three new board members, including Brian Yormak from Story Ventures, Steve Reale, and Partha Ray, will strengthen Empo Health's position in the medical-conditions and therapies-and-treatments industry.
- With tens of millions of Americans struggling with diabetic neuropathy and facing a high risk of developing chronic foot ulcers, Empo Health's innovative solution can significantly impact the health and wellness, personal finance, real-estate, and personal care sectors.
- Smart home devices, investing, wealth management, business, and technology can all benefit from the advancements made by Empo Health, as their solution demonstrates the potential for combining science, technology, and personal care to create a better future for all.
- As we invest in Empo Health's mission-driven work, we support businesses that focus on nutrition, mental health, skin care, and other chronic-diseases, working towards a more affordable and accessible healthcare system for all, ensuring a brighter future for everyone.
