San Diego-based West Health Investment Fund, focused on lowering health care costs, has announced it participated in the recent venture financings of GlySens Inc. and RxAnte Inc., two startup companies with technologies aimed at lowering the cost of health care.
Financial terms of the investments were not disclosed, but Nicholas J. Valeriani, chief executive of West Health, said that through targeted investments in companies focused in advancing cost-effective and cost-saving models of care, West Health can externally impact the cost of health care.
"These two innovative companies highlight the kinds of new approaches to diabetes treatment and medication adherence that have great potential to disrupt the current delivery model and lower the cost of health care," Valeriani said.
San Diego-based GlySens is developing an implantable, long-term continuous glucose monitoring sensor designed to provide a wireless means to track glucose levels and improve the lives of people with diabetes. The sensor resides completely under the skin and transmits glucose measurements wirelessly to a convenient external display device, so patients may control their blood sugar levels more effectively. The American Diabetes Association reports that in the United States alone, diabetes and its complications are estimated to be responsible for more than $117 billion in direct medical costs.
Virginia-based RxAnte is a health care improvement company that provides a new and innovative approach for driving medication adherence by helping organizations target, manage and evaluate their adherence support initiatives.
"Patients get no benefit from drugs they do not take, complex regimens they cannot follow or care they cannot afford," said Dr. Joseph Smith, chief medical and science officer of West Health.
The $100 million West Health Investment Fund was launched in October 2011 to provide venture capital for companies with cutting-edge health care technologies and services that offer the potential to lower the cost of health care.