BioSTL Attracts International Health Care Innovators to St. Louis

Written By Aimée Madden / July 10, 2018

Louis GlobalSTL Health Innovation Summit Brings New Technologies to Local Health Care Systems to Create Competitive Advantage and Economic Impact

ST. LOUIS – The full strength of the St. Louis region’s health care industry will be on display for highly-innovative digital health companies from Israel, Ireland, the United Kingdom and the Netherlands at the second annual ​GlobalSTL Health Innovation Summit​ ​on June 27, 2018.
GlobalSTL, the international company recruitment initiative of BioSTL, reviewed more than 600 digital health companies and invited 14 of the most compelling companies to pitch their cutting-edge technologies to decision-makers from St. Louis area hospitals and corporations, as well as a cadre of venture capitalists looking to invest in new companies.

The highly-curated event introduces transformational technologies to the St. Louis health care industry that can specifically improve the quality and access to health care while lowering costs by solving challenges in patient care, health care delivery and hospital operations. Each international company that applied to the Summit was subjected to a thorough vetting process to identify the companies that had the best chance for getting a deal done. This included direct feedback from the innovation and operational leaders of St. Louis’ health care systems, corporations and investors about which international companies might best address their strategic priorities and bring them competitive advantage.

This approach of linking the demand for innovation to the sourcing of international companies directly resulted in five international companies landing business deals and partnerships in St. Louis following the ​inaugural GlobalSTL Health Innovation Summit​ in 2017.

The success demonstrates the three-fold goal of GlobalSTL: (1) provide St. Louis companies access to cutting-edge technology to boost their competitive advantage; (2) secure prized U.S. customers and strategic partners for the international companies; and (3) leverage the first two wins to establish the U.S. headquarters of high growth international companies in St. Louis, thus enriching St. Louis’ ecosystem with new jobs, new talent and innovation, and new economic activity. Brookings Institution​ has recognized this creative approach of BioSTL and its GlobalSTL initiative as a national model for attracting global innovation and growing mid-size cities.

“We specifically select companies that represent compelling, high-value technology for St. Louis’ health care systems and corporations, come with proven track records, and have the ability to immediately enter the U.S market,” Donn Rubin, President and CEO of BioSTL, said. “This approach has led to a total of 15 international companies with a new St. Louis location.”

Some of the types of digital health technologies GlobalSTL is bringing to St. Louis hospitals and corporations include: telehealth technologies, remote monitoring of patients with chronic conditions, cybersecurity, big data solutions that include predictive and risk stratification technologies, as well as solutions for lowering operations costs, improving behavioral health, preventing physician burnout, and reducing hospital readmissions.

International innovative companies offering such solutions at the 2018 GlobalSTL Health Innovation Summit include:
1. Babylon Health​ (UK) ​has a mission to put the most advanced, affordable and accessible health service into the hands of every person on earth. 2. CliniShift​ (Ireland) is a communication platform connecting clinical staff with hospital managers who maintain rosters and off duty scheduling, leading to cost savings and better workforce utilization. 3. CliniWorks​ (Israel) is a big data solution for monetizing clinical research and population health. 4. Datos​ (Israel) is a big data platform for leveraging patient-generated health data for care delivery. 5. HealthBeacon​ (Ireland) is a medication adherence technology company with smart Sharps bins and tools for patients who self-inject medications at home. 6. MedAware​ (Israel) is a big data solution for eliminating prescription errors. 7. Medisafe​ (Israel) is a patient-engagement based medical adherence solution. 8. Medorion​ (Israel) is a behavior change population health platform using AI, behavioral science and digital marketing. 9. nym​ (Israel) brings process/workflow automation through a natural-language based automated coding system. 10. Odoro​ (Israel) provides technologies to lower operational costs through process/workflow automation. 11. Profility​ (Israel) works in predictive analytics by offering personalized care planning at the point of care by optimizing decisions and transitions within a health care ecosystem using advanced profiling technology. 12. swyMed​ (Netherlands) is a telehealth solution offering cost-effective, high-quality remote monitoring over any available bandwidth. 13. TytoCare​ (Israel) is a telehealth service offering a fully-remote clinical exam. 14. VRHealth​ (Israel) is a telehealth service providing virtual-reality based physical, rehab, cognitive therapy through an app.

The GlobalSTL Health Innovation Summit kicks off at ​8 a.m. Wednesday, June 27, 2018, on the campus of Washington University in St. Louis​. Following a lunch time keynote speech by ​Jason Dinger, Chief Incubation Officer at Ascension​, the international companies will pitch their technologies to the St. Louis health care industry, and then take part in 120 highly-curated one-on-one meetings with decision-makers, facilitated by GlobalSTL. A networking reception with leaders from the St. Louis innovation community will close the Summit.

The following companies and health care systems are attending: AEG | Ascension Health | BJC HealthCare | Blue Cross Blue Shield Michigan | Centene Corporation | Express Scripts | Mercy | OSF HealthCare | Saint Louis University School of Medicine | SSMHealth | Washington University in St. Louis School of Medicine

The following venture capital and investment firms also are attending: Ascension Ventures | BioGenerator | Cultivation Capital | iSelect Fund | Lewis & Clark Ventures | OSF Ventures

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