In order to commercialize innovations, entrepreneurs must go to the market to find potential customers who are able to successfully adopt the technology. In the healthcare industry, the path to commercial success is more difficult. To successfully integrate an app into various healthcare systems (hospitals, insurance companies, public health organizations, clinic networks, etc.) involves navigating data management expectations and ensuring the app not only takes into account user experience and medical efficacy but also complies with privacy standards.
Seeing the problems of innovators when it comes to gaining traction for healthcare apps, Balaji Gopalan and Simon Woodside co-founded MedStack to make the transition from development to commercialization more smooth, specifically in the health technology sector. Their system configures cloud-based hosting for digital health applications with customized tools and infrastructures, along with built-in privacy and security protocols and real-time auditing and monitoring.
With support from two Market Readiness Projects, MedStack focused on using the constructive feedback they received on their product proposition to scale their brand and product deployment, grow their team to provide more support to their clients and bring their next-generation product to market.
“What excites me most about what we are doing is the impact we are having on digital health adoption,” says Natalie Calderon, Director of Brand and Community Marketing at MedStack. “Our customers’ success is our success, and they are seeing real and tangible results.”
Having raised $2.4 million in an oversubscribed seed round and currently supporting over 60 digital health companies across North America, MedStack is continuing to expand, growing to a team of 15 employees and launching their next generation platform MedStack Control, which empowers health tech developers with more flexibility and power to deploy their applications in a compliant manner.