Cardihab is one of four successful digital health companies awarded a share of $3.7M from the Australian Government’s Medical Research Future Fund (MRFF). The funds are being invested into high-growth potential digital health companies, supporting them to develop and release new products and expand into global markets, through digital health commercialisation program, ANDHealth+.
Funded by the MRFF, the ANDHealth+ program is delivered by ANDHealth, Australia’s leading digital health commercialisation organisation, providing Australia’s most promising digital health start-ups access to up to $3.7M in non-dilutive investment, alongside substantial industry mentoring and support, across a two-stage investment process.
Cardihab, successfully completed a rigorous process of qualification, including assessments by leading Australian and international investors and digital health executives, and has been selected to move into the next stage of the process.
ANDHealth CEO and Managing Director Bronwyn Le Grice said, “These companies are perfect examples of how Australian businesses are using technology to solve real health problems faced by millions of people locally and around the world. This investment will support these companies to secure the clinical evidence and customers they need to create better health and patient outcomes on a global scale."
“Due to the limited funding pools for digital health companies in Australia, ANDHealth+ is a highly competitive program that selects world-class, evidence-based technologies, as assessed by an expert industry panel and international investment committee.”
Ms LeGrice says the exhaustive process is designed to identify the companies and technology with the greatest chance of commercial growth and beneficial effect.
Cardihab CEO Helen Souris says, “to be successful in a program like this is an incredible testament to the quality of our solution, the work of our dedicated team, and the potential of our technology to have a positive impact on patients here in Australia, as well as globally.”
"Cardihab is thrilled to continue to receive funding and advice as part of the ANDHealth+ program. We will leverage this support to prepare our digital therapeutic for international markets and gather additional clinical evidence to further demonstrate our impact on patients needing cardiac rehabilitation."
We look forward to continuing our productive collaboration with ANDHealth and partners during the next phase of the program.
For more information about our programs and opportunities please contact us.
The PERCEIVE study—run by the Baker Heart and Diabetes Institute and powered by Cardihab— looks to understand whether COVID-19 causes damage to the heart and impacts functional capacity. It also aims to understand if best practice management (e.g. heart medication or exercise training) can restore function.
As reported on 9 News, recent outcomes of the study have shown that the significant reduction in capacity following a bout of COVID-19 is likely due to deconditioning, rather than structural heart damage, and therefore exercise rehabilitation is a recommended course of treatment.
While findings to date have provided valuable insights into the long term effects of COVID, researchers are keen to broaden the study and are inviting further participants to join.
Interested parties who have had COVID-19 and are over the age of 45 are invited to participate in the six month study with screening appointments available at specialist clinics in Melbourne and Hobart, as well as Sydney in the coming months.
Cardihab is proud to be enabling home-based, digital cardiac rehabilitation to remote and regional patients recovering from heart events through our partnership with Mater Private Hospital Townsville.
Mater Clinical Exercise Physiologist Shaun Whiley and Mater Private Hospital Townsville Executive Officer Steph Barwick recently spoke to Channel 7 Townsville about the successful initial uptake of the Cardihab program with patients from North Queensland that otherwise may not have had an opportunity to complete a program.
“So far we’ve had a number of patients complete the program and have said they loved the fact that they were able to do the program, and were given the opportunity. It can be quite confronting (for patients) going home to a rural area after having gone through a cardiac event and not knowing where to go, what is their exercise capacity, so it's really been fulfilling to get them back to normal function,” said Shaun.
North Queensland-based cane farmer and Mater patient Stephen Fabbro discussed his experience using the Cardihab digital Cardiac Rehabilitation platform in helping him to manage a program post heart surgery that he otherwise would not have been able to do due to time constraints and the long distance to the Townsville-based rehab centre.
Cardiovascular Disease (CVD) is a significant health problem in rural Australia with rural populations experiencing a 20-30% higher CVD prevalence¹. Offering effective interventions that suit the needs of the patient helps to bridge the gap in care that exists.
Cardihab CEO Helen Souris says, "we're thrilled that Cardihab has been integrated into the Mater’s cardiac rehabilitation program and so well received by patients in the area."
Read more at Mater News.
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Cardihab CEO Helen Souris recently spoke to Yolanda Redrup, an award-winning senior journalist from The Australian Financial Review to discuss the impact of the Australian investment landscape on digital health startups. They discussed how things need to change in order to strengthen the Australian ecosystem and capital support to compete with other markets.
According to ANDHealth CEO Bronwyn Le Grice, where the US has significant investment funding pools dedicated to accelerating emerging digital organisations and supporting digital growth, Australia’s funding landscape focuses more toward mature organisations with little support for start-ups at the beginning of the journey. This can lead to organisations moving their ideas and talent offshore to bigger markets that can offer support.
Helen says there is a gap in understanding by local investors that often limits investment, forcing digital health and technology entrepreneurs to look beyond their backyard for scale support.
“There’s lots of seed funding, and seemingly a lot of money for $20 million rounds, but when you’re a start-up that needs to scale up and need to have two to three years of runway to execute to deliver results, that’s where it’s hard.”
She says urgent discussions need to be had around building sustainable investment models that can support and maintain the growth of the Australian digital health ecosystem and nurture innovation to ensure the future viability of Australia’s role in the sector. There is also strong support for government-led policy changes and reimbursement that enable evidence-based digital health innovation to transform our health system.