Caristix presentation @ International Startup Festival 2011

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Founded in 2009, Caristix develops integration software and services for healthcare organizations such as hospitals, government agencies, and healthcare IT vendors. The average hospital runs up to a …

Founded in 2009, Caristix develops integration software and services for healthcare organizations such as hospitals, government agencies, and healthcare IT vendors. The average hospital runs up to a hundred IT systems. Not a single one of these systems can share patient data out of the box. But in order to reduce medical error, eliminate duplicate work and testing, cut waste, and deliver effective care, healthcare organizations across North America spend $1 billion a year to enable these systems to share data through integration and interfacing technology.

Caristix is in the business of automating the development, implementation, and maintenance of these integration strategies. Through our offering, our customers are able to decrease the time needed to complete a single integration project, which frees IT teams to work on additional much-needed integration. Our technology also helps to enhance the quality of integration and thus enable less downtime for doctors and nurses. In the case of complex integration projects, our technology helps to reduce project slippage and enhance communication among multiple partners, thus helping to ensure on-time delivery within today’s tight budgets.

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  • Where do you find the most complex data sets in the world? Your bank? The CIA? No.
  • Your average hospital.
  • Systems for patients, medications, labs, work independently. But they need to communicate so nurses and doctors can deliver the right care. Systems communicate through an interface, which acts like a conduit. Far too much interface work is manual.
  • This means: busted timelines, busted budgets, busted projects – read the news lately?
  • Analysts spend weeks just trying to figure out how the data is organized. Then they have to do it again and again – whenever there’s new equipment or upgrades. Talk about a challenge!
  • This costs the healthcare industry a billion dollars per year. System vendors and hospitals are pulling their hair out to solve this challenge. Caristix has the answer. That’s why we’re killing it. That’s why we’re here.
  • Our solution automates the work analysts do to understand system connections. Our software instantly shows analysts what’s really going on in the data. Cut 50% off your deployment timeline. Cut tasks that don’t add value – ask an overloaded IT team if that matters. Cut risk out of those $100 million healthcare IT projects we see in the news – ask a hospital CEO if that matters.
  • We launched our flagship software in November 2010. We’ve signed 8 customers in the US and Canada since then. One customer cut a 2-hour task down to 10 minutes. Another connected to a cloud system in days, not weeks. A third avoided a major risk because of our software -- they discovered multiple conflicting data definitions prior to deployment.
  • Caristix is 3 co-founders and 2 employees – all with hands-on experience in healthcare IT, and up to 12 years of working together. We’ve got both technology and business in our DNA… Delivering the killer IP to address our opportunities – that’s Jean-Luc and his team… Going-to-market and selling – that’s me and Sovita.
  • Our current IP addresses a market niche of about $200 million. Our target tackles even bigger problems around data. Our roadmap charts the way to a $30 billion market opportunity. Imagine a world where we leverage healthcare data for value – human value and business value – in the same way we leverage financial data on Wall Street or retail data at Walmart. Imagine connecting complex data sources to provide smarter care, more compassionately, at lower cost.That’s the world we want to live in. That’s the world Caristix will help to create.
  • We’ve just closed a seed round with Anges Quebec and Real Ventures to fund customer acquisition, growth, and more new IP. In about a year’s time, we’re aiming to close our next round. If you’re an investor, we invite you: join us in our growth.

Transcript

  • 1. International Startup FestivalJuly 14, 2011
    © Caristix 2011. All rights reserved.
  • 2. The most complex data sets in the world…
  • 3. …are in your local hospital.
  • 4. Complex DataComplex Connections
  • 5. Busted timelines
    Busted budgets
    Busted projects
    Broken Readings by VERY URGENT Photography http://www.flickr.com/photos/altoexyl/4503431478/
  • 6. Weeks digging through data
  • 7. A billion-dollar problem
    and
    opportunity
  • 8. Grasp the data instantly
  • 9. Customers & Partners
  • 10. Co-Founders
    Sovita Chander
    VP MKTG
    Jean-Luc Morin
    VP R&D
    Stéphane Vigot President
  • 11. Target
    $30 billion opportunity
  • 12. Funding
    Series A next 12 months.