Video Transcription
Deborah Simpson 00:02
Steve, hi, I'd like to tell you that I'm very excited to be here. I've been in medical devices probably since about 1998. I've had four exits and I'm very excited about this technology. What we do is we focus on heart failure. You can think of it as a non-invasive Swan-Ganz catheter. Okay? The Swan-Ganz goes into the neck, comes through the heart. We do the same thing with a little tiny piece of tape on your chest. This is the Swan-Ganz right now; current solution. This is our solution on the right. How many people have tried this? Many. There are so many companies trying to solve how do you get fluid status, ejection fraction, okay? Those are all high-quality measurements that we get. It's non-invasive, it's safe, and it's not expensive. It takes a $20,000 surgery. That's just the first one we do. The thing is, we do the exact same thing with 93% accuracy and specificity in less than five minutes, at a cost that's already approved by the government, and $135, and it costs less than $100. So from a hospital perspective, they lose money every time they do this procedure. Okay, with our procedure, they actually have a contribution margin for it. We could talk a little bit about it's a combination of bioimpedance and fluid status. There is an AI component that's coming. And basically what will happen in the future is every person with heart failure in the world should leave with our piece of tape on their chest. Why? Because it tells you 72 hours before any cardiac symptoms appear. Okay. So a patient can change the card, yellows. They can change the record, they can change the diuretics. They can pull off fluid. They can avoid that hospital visit. Hospitals in the US have tremendous pain. I don't even know how to describe the pain because heart failure patients are admitted two to 15 times a year if they're admitted, and about 30% are admitted in the first 30 days, 40%, I think, in the next six in the first 60 days. So that means, basically, those patients wipe out the hospital's margin in the United States. I don't know how to say much about our team. I built probably one of the best teams I've ever worked with. I call Dr. Camp my adrenaline junkie. Dr. Marco Grieve has a PhD in Biomedical Engineering, and he talks like a lot of the Irish here because he's from Ireland. Michael Gorman has been a CEO, I think, three or four times, with three or four exits. He loves this technology because he's been in cardiac care. He joined us, and E.J., of course, is world-class; he's been a public CEO three times and a hedge fund manager. So we're very lucky to have a team that supports us. Off the record, I mean, just not off the record, but $31 billion market. So, huge opportunity. I think, as everybody knows, this is our studies. No risk with clinical. Okay, we are redoing the clinical at the University of Michigan and probably in Sydney also. 10 years, 221,111 patients. And this has proved our accuracy at 93% non-invasively, using our biometrics, 15 parameters, multiple mathematical algorithms. I'm not a mathematician, so I like that. We could go through competitors. Of course, we're better than anybody else, but board of advisors. Dr. Wayne Olin, as I can point him out. Dr. Wang is in DC, and he's helping us get into the veterans, and that is, I think everyone knows here, a huge, huge deal for us. I'd like to address Dr. Peter Gantz; you all know the Swan-Ganz catheter. Dr. Peter Gantz, I met him for lunch, and I said, would you consider being a board advisor? He said, sure. He said, I'll consider it and give me the research. So he came back, and the next lunch, he was so excited. He said, I want to be your spokesperson, and I'm like Dr. Peter Gantz of the Swan-Ganz catheter. He said, I've reviewed so many companies. He said, and you've got this, and you've got the patents, and you're going to make it happen, and that's actually exactly where we are. We'll get you about $200 or $431 million by 2029. Tremendous use of funds, mostly sales and marketing. Sales and marketing, and most technologists don't understand that, but that's really the power behind it. We have about six products already that we own patents for, and we'll execute on that. What are we looking for? We do have a $5 million convertible note right now. It's at a very low valuation. It's probably not going to be open long because I did get a term sheet for $20 million of the $50 million. And so we'd like people to participate from an exit potential. We are going to make this happen. And I'd like to just tell you a quick story. Do I have time? I hope I do. I have a friend named Marc. Okay, Marc went to Stanford. He got to Stanford, and he had a full scholarship, but they didn't pay for room and board, so he rented a warehouse. And just so happened, he built out a warehouse for them, okay? And just next to him, a guy came in with all this computer stuff. He was all excited, and Marc said, that's not going to work. Just so happens that guy was Steve Jobs, okay, as he got started, and Marc joked with him, even when they left, he said, it's not going to work. But what I'm telling you here is, from a startup perspective, I can tell you, you get slammed in the face a lot, and it's okay. You know, you have to just adjust and change, and I think that's why we'll be so successful. We have a very quality pivoting team, and we're going to make a difference and save millions of lives, 6 million patients in the US alone, worldwide, tens of millions, over 10 million that have heart failure. My father was one of those people. Okay? Five heart attacks, a family basically destroyed for years over it. We want to prevent that, and we open up the market for class 1, 2, 3, and 4 patients for revenue, daily revenue for the cardiologist, so they increase their clinical revenue. So I'm very excited to be here. And if you have any questions, please look me up. Thank you. Applause.
