Mike Rolla presented AliveCor at LSI USA ‘24

Mike Rolla  0:00  
Good morning, everyone. Thanks for joining us on this last day here at LSI. Just a quick background on me. My name is Mike Rolla and as I just mentioned, I'm the CRO here at a live core. Prior to joining a live core, I worked at Becton Dickinson, I actually came from the CR Bard side of the fence for a little over 16 years. And then I took a detour into digital health with Lavon, go later TelaDoc and then found my way back into the tech space via live core. So thrilled to be here, here at LSI. This is probably my second or third time and excited to talk to you about a company that you probably have seen and heard about maybe via some commercials or in the retail consumer space, the cardio device, right. So you may have seen a commercial, you may have seen it online. Our mission at alive core is to be a 24 by seven virtual cardiology provider for the patient when you're not in front of the doctor, right, I'm gonna talk to you about where these devices are, what they've accomplished in the roughly 10 year history of the company since it was founded. One of the things that will blow you away some of the stats as far as the depth of these devices and the data that's been able to be captured. And I'll talk you through where the plans are for live core sit today as we look to go forward. I'm not going to belabor this because it's probably been talked about more eloquently in bigger slides at this conference alone. But the burden of cardiovascular disease, it remains the number one killer, more than all other cancers combined. And the economic burden, for obvious reasons that follows is rather significant. Right? So where's it where's the live core, a company that makes personal EKGs, the number one personal EKG in the market that's clinically validated, and trusted by both patients and providers alike? Where does that put us in the ecosystem? Right now I'm going to talk about that. Our journey has moved from tech to services to AI all focused on one thing, the trust of the consumer, and the ability to predict what we call left the boom, that's actually a military term, right? So not to sound overly dramatic, but left a boon means what can you do before an event that's unavoidable is reached? How can you prepare? How can you educate? And how can you set up so that you have all the things in place so that you don't ever get there, and what the evolution of our devices have done going from a single lead EKG, to a six lead EKG, to a personal credit card when you can actually like carry on you and your wallet or your money clip. And now two services enhanced with blood pressure cuffs for the employer for the payer. These are things that we've evolved over the last 10 years to the complete cardio suite of products. One of the things that goes without saying is if you're able to identify cardiac events left a boom, you'll reduce unnecessary healthcare events. Okay. And that's things like IDI admissions, urgent care visits, critical care monitoring for the heart, you know, for the cardiac cardiac events itself. So what I'd like to talk about is how we approach the market, right? What are we going to do so from a payer slash employer side, we have a complete solution geared at helping individuals with known cardiac conditions and or managing high risk for additional cardiac events, we have a package that allows you to do that and monitor that on a near daily basis. For the health system, we become an extension of the provider itself. So that in the home, you're able to take regular EKG readings, and communicate with your provider and those that are trusted in your network of care. The technology itself, as I mentioned, continues to evolve, we have two new products that will be due out this year. One is a personal 12 lead device that's going to further allow our expansion into the healthcare segment, we're strategically aligned right now with GE fully integrated with GE muse. So that's a really big deal as we move towards these next level devices. One more, sorry about that. These stats kind of blew me away when I joined, right, what do you think about it right now, at any given moment, we have over 3.3 million lifetime users, over a quarter million active subscribers. And on any given week, we're doing north of 1.3 million ECG EKG readings per week. So these are kind of crazy numbers, right. And the data stream that we capture from there is also something that's taught us a lot about behavior, the demographics and how you're able to further engage with the patient and or members results on the consumer side. Live core has done a fantastic job of getting certified in over 40 countries and we continue this expansion on a near monthly basis. Frankly, this is something that continues to grow as the head of Global Enterprise. One of the areas where this is particularly significant is that in CRO and the development to support drug companies as they study the effects of the pharmaceuticals, on heart heart related conditions. We scored pretty well. We're a simple device to use. We're easy to set up it works with your smartphone. So from a standpoint of consumers that This faction, both our scores on the consumer business and our NPS score with regards to how you engage with the Tech have been top notch. We have an extensive AI platform. And I will not bore you by reading these line by line that allow you here unless you really want to get to your breakfast sooner. But so really, you know, what we do is we have an extensive AI platform layered on top of the data that we're now able to capture just on the sixth lead alone. And this is going to only get better when we launched 12 lead before the end of this year. Let's talk about these market segments for a second. So consumer, how do we do it, we go direct to consumer, we go through retail channel, we go online, we go through mass retailers, and this constitutes roughly 60% of our business to date. This is designed to make the tech accessible for all so that you have trust from the patient and trust and access from the provider. I've been blown away, the more I get on the phone with people and talk about this, I would say it's like 80% of the time they're pulling it out saying I have this I just bought this for a family member I've used this, I trust this. It's a simple, fairly sleek device that's really easy to use. The biopharma space, as I just mentioned, enabling CROs to use it more functionally, this is something that I think is really significant is growing by over 50% as a segment, and we're continuing to invest in this as a business globally. The two areas that I'm most focused on right now are to the right, which is that of health systems. So as an extension of health systems for known risk, or known cardiac conditions, were able to provide now cardio complete as a service. And we're also working on significant access to the government space. Because what we found is that there's a heavy overlay of both government population and veterans who need and use this device. Last but not least, employer payer. This is one where there's two areas we have a partnership right now with two major employers that piloted this CVS and HP. And on the payer side, we're actually using this to help risk adjust with several Medicare plans to determine where they'll fit with regards to their risk score, and even look at things on a capitated ma level, to better adjust our tech, single lead and six league as a sixth lead, as I've mentioned before, and our entire ecosystem right now focuses on the nearly quarter of a million subscribers we have on a monthly basis and how we foster and develop that recurring revenue to make sure that these people get continued access and that that data is shared appropriately with their provider. We also have complete what we call cardiac care complete. So this is partnered with a blood pressure cuff for roughly $700 a year. This goes to the employer and or payer to manage someone who's got a known afib, or high risk for AFib as a result of their current cardiac state. All the things covered by cardio computer in this slide, I'll probably skip over this in the interest of time. The other thing that we've been able to do is via the technology itself, identify those that are at risk for QT. Qt prolongation. So when you're being treated, maybe with an anti psychotic or if that's a natural condition due to your genetic disposition. This is another area that the device itself is now able to detect, even at the six lead level, and that'll be further enhanced by that at the 12 lead. So wherever we use it in the biopharma space, I mentioned that as a category, here's some of the companies we're currently partnered with. And where we're looking to go from a disease state standpoint, going forward as we continue to evaluate the best CRO options right now from a growth perspective. Health Systems, this continues to really, really expand partially due to the partnership with GE that I mentioned, and also the fact that we will be working exclusively within the VA space in the very, very near term. And here's some of the sights right now that we have live. Like everybody here we have a pretty cool leadership team. This one's born out of Amazon, there's actually a lot of people that came over on the tech side to learn the consumer business and deliver this at scale. fantastic team of both tech healthcare, those that have sold in the employer space, and just some great names and great backgrounds up there. So we've built a strong franchise predicated around the consumer space. This now will pivot even further into the enterprise space by coming up with SK use product packaging offering that will allow both government state and providers I'm sorry, payers and employers to be able to deliver this device Plus subscription to those that use it. And the volumes continue to impress even me on the consumer side, which you know, I really kind of underestimated when I joined. That is it for me. I hope you have a fantastic morning and a great rest of the conference.