Steamwork Ventures invests in digital health company Remmie Health


Why We Invested:  

Telebionix is transforming telemedicine with Remosense, a smart medical device that can capture vital sign data and share it instantly and securely with physicians.

This sleek, handheld device will measure heart rate, blood pressure, body temperature, blood oxygenation, heart rate variability, lung and heart sounds via an AI-driven stethoscope. The aggregated data can be used to develop predictive healthcare solutions in the future.

This company and its innovations are game-changers, at the right time, because they

  • Close the major missing data gap in telemedicine
  • Improve access and quality of healthcare
  • Reduce medical stress on frail patients and their caregivers
  • Lower healthcare costs by improving the efficacy of telemedicine and remote monitoring
  • Introduce an exceptionally well-designed product into the market, built by a world-class team and medical advisors with experience at Apple, Amazon, J & J, Bose, and Cleveland Clinic

Market Insights:

  • TAM – $485B, SAM – $367B
  • $250B telehealth market projection valued by McKinsey (2020)
  • 38.2% CAGR in telehealth by 2025 Frost & Sullivan (2020)
  • $117B Remote Patient Monitoring Market Projection by 2025
  • $3TR US annual healthcare spending
  • Currently (9/21), only 46% of the need for primary health professionals across all US territories is met
  • 75% unnecessary visits could be done through telehealth
  • $200B cost saving with telehealth

Steamwork Ventures Value Add:

  • Sourcing UCLA professors for SBIR grant partnerships
  • Sourcing UI/UX talent from USC for the physician and patient apps and website
  • Introductions to VCs with medical, accessibility and LatinX theses
  • Introduction to leading medical device foundation