Ricardo Berrios, Adhera Health - AI-Based Precision Digital Companion Platform | LSI USA '24

Ricardo Berrios  0:03  
My name is Ricardo Berrios, and I'm the co founder and CEO of Adhera Health. I funded a few companies in the HealthTech space before with successful exits, and this time around, I have partnered with Dr Luis Fernandez Lucchi, who is in the front row because we are bringing innovative solutions, digital and human solutions for the good of mankind. So what is our mission? Our mission is to build healthier and happier families living with chronic conditions by empowering them with personalized and human like digital companions, and while we're doing this, Luis and I, when we started the company, we realized that there was a big gap, and pediatric clinician management was not working as it was at the Moment. The comprehensive solutions for the whole family don't exist today, and family caregivers actually need a lot of help at home to manage children living with chronic conditions that gets augmented by the increase the rise of the chronic conditions with children, where we have more than 32 million children in Europe and the United States living with chronic conditions simultaneously, the number of family caregivers is increasing too, and there are no comprehensive solutions for these family caregiver supporting their lives, bringing burnout and mental health issues to these parents. In addition, there is a 50% treatment on adherence that brings a cost, a very heavy cost in the US to the healthcare system of north of $300 billion so what is our answer? I know that a lot of people are trying to solve this problem, but they have not approached, in our opinion, the problem from the right angle. We empower the whole family with an AI precision digital companion, and when you support and improve the self management and well being of the whole family, you improve the outcomes for both the caregiver and the child with a chronic condition. We have started already with programs deployed and implemented in growth hormone deficiency, type one diabetes and childhood obesity, and we are going to be starting programs in autoimmune conditions and cancer. But this idea, in this work that we have been doing in the past three years has already provided results, results that are measurable, that are based on clinical self evidence, and as well as work that we have been doing with lots of partners, and we have demonstrated that we can improve the health related quality of Life in the family caregivers, bringing the depression, anxiety and stress levels down in a meaningful manner, while increasing also the treatment adherence for children and reducing the estimated reduction of the cost of healthcare by 20% we are actually helping with this approach address $814 billion US costs in pediatric chronic care management brought on by mental health services, treatment and adherence and lack of a 24 by seven management and support at home. So what is the adhere AI opportunity child companion platform. We have a trans diagnostic and personalized solutions that is addressing the whole family as a group, and we are powering this platform with our proprietary AI technology that delivers intelligent solutions for the families, the care team, as well as the coaches that are supporting these families. Our solutions, as I said earlier, are already being implemented in the marketplace. We started our deployments with our first customers in the pharmaceutical industry, and that's our first channel, and we work with them in our Strategic Studies. And together with that, we started working with healthcare providers with our what we call digital companion programs. We are using both the digital companion programs as well as strategic studies to gather more data that is fueling our strategic AI algorithms that have proprietary, whole family data sets that today do not exist in the market, in that we are actually developing, together with our partners, our revenue model is moving from a platform. License that we have been selling our solution to pharma companies and healthcare providers to an annual recurring revenue membership driven with gross margins north of 75% I always say that ideas are great, but there are a damn a dozen you need to have the right team. And we have been able to put together an amazing, young and successful team of scientists. And one of the things that I am actually very proud of is that a huge component of our team are women PhDs that we have been able to attract to this mission to bring a solution to the whole family. We also have developed board of advisors that provides us constant input into our platform, like, for example, Dr Jose pagan, who is a member of the National Academy of Medicine and Professor and Chair at NYU, or Dr Rosa Banos, who is a recognized scientist in the world of psychology that bring their knowledge on a weekly basis to the executive team of adhera health. You may also recognize somebody in this list is Kwame Ulmer. Kwame is a former FDA officer, and Currently he is the managing director of medtech impact partners, and we work closely with Kwame to develop our strategy beyond what we are doing today with our companion programs. So in sum, and just to summarize, where we are today, we have already proven outcomes across pediatric chronic conditions, with more than 10 clinical studies. We have a unique approach, as I said, that nobody in the market today is doing focusing on the whole family dynamics. And we have two AI technology patents in two ISO certifications that support a platform in the in the search of product excellence that we have the growth opportunity for us is that we already have multiple solutions deployed in to the healthcare ecosystems. We have reduced the risk of investment in athera Health because we have proven product already in the European market and starting to grow our partners in the United States, and deployments in United States, we were just recently awarded an NIH award for the deployment of programs in the Latinx population of children living with chronic conditions. We also have had a consistent growth in our licensing software of more than 400% over the past two years. In all of this is predicated on the execution of our platform. The global opportunity for adhere health today is north of $35 billion in the pediatric chronic condition, marking both in the United States and in Europe, in the interesting component of this opportunity is that in the last six months, we've been seeing a shift towards the whole family caregiving, whole family healthcare integration, and we are right now leading the charge with evidence that we can solve that challenge. Just to finish the presentation, I wanted to tell you that we've been in business for three years, and we have been able to bootstrap operations. We have revenue north of a million dollars with actually profitable revenue, and we know that the opportunities now the shift is happening. I mean, there are examples of companies that came too early, and there are plenty of them in digital health. We are building the company together with our partners and our customers, and now we are going after a first institutional round of $4 million so that we can accelerate the commercialization in the United States, as well as the implementation of our companion programs in this market, while we are also developing in in putting in the market, our small health language models that are focused on the demographics in the use cases that we have been developing, I wanted to thank you for your time, and if you have any questions, I will be more than happy. Dr Liz Fernandez Luque, who is wearing the same shirt I am, can also answer any questions you may have. Thank you. Applause.