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Powering the Future of Healthcare in Asia | Propell | Media Exploits

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Presentation given at AStar ETPL Media Exploits conference on why healthtech will power the future of healthcare in Asia

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Powering the Future of Healthcare in Asia | Propell | Media Exploits

  1. 1. MEDIA EXPLOITS Ÿ Powering The Future of Healthcare in Asia 5th November 2015 Ÿ Singapore Ÿ The Propell Group ASIA HEALTHCARE Powering The Future @enquirepropell #HealthTech
  2. 2. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  HealthTech innovation is disrupting healthcare and its established players •  Technology is driving a new paradigm to create better health care •  New opportunities are opening to shape the new paradigm •  Developing countries can leapfrog their healthcare infrastructure limitations •  Significant opportunity for Singapore to create value in the region Healthcare is changing dramatically
  3. 3. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. The convergence of digital technology with health: ELEMENTS Wireless devices Hardware sensors Bio-Sensing tech Microprocessors Integrated circuits Internet of Things Social Networking Genomics Personal genetics What is healthtech? LEXICON Wireless Health / mHealth e-Patients / eHealth Quantified Self / Self-tracking Wearable Computing Telehealth & Telemedicine Personalized Medicine / QS Point of Care Diagnostics Connected Health Big Data / Health Data HEALTHTECH
  4. 4. “Healthcare isn’t a science problem, it’s an information problem” — Thomas Goetz — Author of The Decision Tree: Taking Control of Your Health in the New Era of Personalized Medicine Tech Drivers SECT ION 1
  5. 5. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Data •  BioSensors •  Mobile Devices •  Frugal / Reverse Innovation •  3D Printing 5 Key Drivers of HealthTech
  6. 6. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Data: Insights to Transform Healthcare Genomics Next generation sequencing, data management & analysis Data Analytics Data Analytics & Insights: working with and mixing data sets Public Awareness Planning and Preventing: Using data to reduce and prevent disease Support Providers Clinical & Non-clinical Intelligence: Combining a greater variety of data Digital Therapeutics Patient Focused: Increase variety and frequency of data Health Eco-system Collaboration: Pooling data from many sources for bigger & better results
  7. 7. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Biosensing Wearables: Creating Context Activity Trackers e.g. Fitbit, Misfit Smart Watches e.g. Garmin, Apple Smart Clothing e.g. Athos Patches & Tattoos e.g. Zio, MC10 Ingestibles & Smart Implants e.g. Proteus BioSensors Devices that convert a biological element into a signal output Wearables Are on- or in-body devices that enable user experience
  8. 8. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Mobile Devices in Asia: Reach for Everyone Source: Kleiner Perkins Caufield Byers, Nielsen 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Hong Kong Singapore Malaysia Australia China Thailand Indonesia India Philippines UK USA Smartphone Non-Smartphone DEVELOPED ASIA DEVELOPING ASIA OTHER 0 1 2 3 4 5 6 7 Hong Kong Singapore Malaysia Australia China Thailand Indonesia India Philippines Vietnam Japan S. Korea Laptop/Desktop Mobile Device Smartphone Penetration Time Spent On The Internet Average Number of Hours Per Day Spent by Internet Users on the Internet Opportunity to Empower the Individual
  9. 9. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Micro sensor for long-term monitoring of cardiac rhythms Single-channel ECG recorder that is portable, easy to use and low cost (FDA approved) •  Rolled out across Apollo hospitals in India Point of care Dx: Cost effective cervical cancer screening system •  Piloted in Nepal, Kenya, Mexico, USA IV flow monitor for safe and accurate infusion •  Y Combinator Accelerator graduate Reverse/Frugal Innovation: MedTech For All
  10. 10. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  3D printing or additive manufacturing is enabling both affordability and/or technical leadership in medical device / hardware •  Rapidly moving from R&D and design activities to new therapies developing around 3D printed products 3D Printing: Next Generation MedTech AFFORDABLE MEDICAL EQUIPMENT Glia Project - 3D printed stethoscope produced at a cost of $5 performs as well as the $200 equivalent LOW COST PROSTHETICS University of Toronto, in collaboration with Autodesk Research and CBM Canada, used 3D printing to quickly produce cheap and easily customizable prosthetic sockets for patients in the developing world DENTISTRY Dentistry and orthodontics are already large users of 3D printed devices with ~17 million clear aligners produced p.a. SKIN Wake Forest School of Medicine in the US has developed a printer that can print skin straight onto the wounds of burn victims
  11. 11. Business MODELS “Great products are becoming a commodity. It's the combination between great products and a great business model that is going to keep you ahead of the competition in the coming decade.” — Alexander Osterwalder — Business Model Generation, a global bestseller on the topic of business model innovation SECT ION 2
  12. 12. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Spending is inefficient or insufficient •  Increasing focus on outcomes, not volumes •  Patient empowerment is growing •  New business models are forming to address changes •  76% of Fortune 500 companies are now in healthcare The healthcare business landscape is shifting
  13. 13. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Partnership with Genomics England to mine information to decode the genomes of 100,000 patients from NHS patients with cancer and rare diseases to discover personalised medicines: •  Year-long trial announced March 2015 Has announced 12 undisclosed partnerships with academia and corporate: •  Signed collaboration with Pfizer for the study of Crohn’s disease •  Signed a $60M deal with Genentech (Roche) for the study of Parkinson’s Disease Pharmaco Genomics: The future of drug design The Past: Molecular screening libraries used by most large drug companies and academic centers The Future: Identifying the root cause of, or critical aberrant protein associated with a particular disease and use this template to design the antibody or molecule to block it
  14. 14. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Clinical Data: Next generation clinical trials •  Open-source platform that empowers researchers to design and administer app-based health research •  Initial focus on breast cancer, diabetes, Parkinson’s disease, CV & Asthma driven by leading teaching hospitals •  5 year deal where AZ can access the patient-reported data to guide R&D in respiratory disease, lupus, diabetes and oncology. •  Principal objective is to better understand patient experience and perception •  Post launch real-time patient data from extremely large numbers of patients – n equals millions •  Increasingly important data sets for market access and reimbursement §  Velcade (J&J) for the treatment of Myeloma ($35,000 p.a.) was initially rejected by NICE (UK). J&J agreed not to charge any patient not deriving benefit. Velcade was approved.
  15. 15. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. New Entrants: Convergence of other sectors into healthcare •  Tech new entrants are disrupting the insurance business model •  Greater focus on disease awareness and prevention will create cost advantages and greater customer centricity •  Convergence of digital and healthcare is creating significant opportunity for technology companies to enter healthcare •  Tech and digital are lowering the barrier of entry into healthcare •  As the world pivots towards “virtualisation of care”, sectors including telco, tech and retail are well positioned to offer disruptive breakthroughs •  Filling gaps between customer expectations and the current medical infrastructure creates enormous opportunities for new entrants Technology Sector Insurance
  16. 16. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Smart Nation: Next generation health system •  Preventative, personalized and participatory •  Enabling a rapidly growing ageing population •  Sharing the advantages and challenges of a modern health system •  Hub and spoke configuration of assets •  Innovative way of determining who should do what & when •  Focus on outcomes rather than interventions •  Improve access to healthcare – capacity, capability & affordability •  Better allocation of limited resources •  Improve planning of future resources •  Harnessing technology to the fullest with the aim of collecting data and making sense of information. Insights will contribute to shaping solutions that can help improve lives •  “Smart Health” will play an important role through opening new possibilities for integrating data to manage the health system more effectively and empower citizens Better Governments Smarter Hospitals Empowered Patient
  17. 17. “For all emerging markets, the conditions are very challenging. But where we see challenges, I see opportunity. In fact: our challenges are your opportunities ” — Joko Widodo — President, Indonesia Asia PARADOXES SECT ION 3
  18. 18. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes: Facing many healthcare challenges Developed Economies: Rising healthcare costs is an ongoing challenge Developing Economies: Lack of healthcare access is a growing problem Challenges in Developed Economies Challenges in Developing Economies Rising healthcare costs Ageing population Lack of healthcare access Increasing chronic disease prevalence Lack of infrastructure Increasing chronic disease prevalence
  19. 19. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes: Developed Asia Healthcare Challenges Expenditure Time Bomb Source: United Nations, World Bank, OECD, IMF, IPSS Japan Percentage of Population aged 65+ Retirees per 100 Adult Workers Predicted Change in Public Healthcare Spending as % GDP 0 10 20 30 40 50 60 Japan Hong Kong Singapore S. Korea China Indonesia India 2000 2050 0 5 10 15 20 Japan S. Korea China India Indonesia 2006-2010 2060
  20. 20. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Continuing to deliver the standard of healthcare which is the envy of neighbouring countries will hinge on the ability to innovate radically •  Growing emphasis on health outcomes will require greater access to data to drive better insights •  Achieving this goal requires the harnessing and adoption of new technologies and openness to competition from new business models •  Clear business case for the creation of a healthtech technology and business model development hub in SG Developed Asia: Innovation Leadership
  21. 21. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes: Developing Asia Healthcare Challenges Immature Healthcare Infrastructure Doctors (per’000 population) Non Communicable Diseases (All NCD Deaths per 100,000) Nurses (per ‘000 population) RTAs (Death per 100,000) Source: World Health Organisation Large Unmet Medical Needs 899 785 775 767 651 619 604 560 443 359 326 0 100 200 300 400 500 600 700 800 900 1000 Philippines India Indonesia Myanmar China Malaysia Vietnam Thailand Cambodia Australia Singapore 38 25 25 21 19 18 17 15 9 6 5 0 5 10 15 20 25 30 35 40 45 Thailand Malaysia Vietnam China India Indonesia Cambodia Myanmar Philippines Australia Singapore 0.1 0.3 0.6 1.6 2.2 2.3 3.0 3.5 6.8 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 Kenya Bangladesh India China Japan UK US France Germany 0.1 1.1 1.1 1.3 7.9 8.0 8.1 9.3 11.4 0.0 2.0 4.0 6.0 8.0 10.0 12.0 Bangladesh China Kenya India France UK US Japan Germany
  22. 22. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes: Income Diamond Consumer / Patient Power Seeking choice and value for money Premium Market Segment Value Market Segment Underserved Market Segment 56% 30% 13% 1%
  23. 23. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Development path of mature economies health systems is not feasible nor desirable for developing economies •  Leapfrogging over arduous & expensive development stages is only practical way for developing economies to establish better health systems •  Achieving this goal requires innovation in order to accelerate development, be cost effective and be scalable •  Leapfrogging will be achieved through new technologies, new business models and new behaviours Developing Asia: Opportunity To Leapfrog
  24. 24. Asia HEALTH TECH “We have to link to what the global trends are. This means looking at the emerging sectors, verticals like technology, healthcare, and biotech” — Teo Ser Luck — Minister for Trade & Industry, Singapore SECT ION 4
  25. 25. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. HealthTech: Asia Startup Landscape Nascent But Thriving Ecosystem HealthTech Startup Categories Big Data & Analytics 5% Genomics & Precision Medicine 3% Consumer Health & Wellness 17% Navigating the Healthcare System 20% Patient Engagement 20% Practice Engagement 15% Sensors & Diagnostics 16% Telehealth & Remote Monitoring 4% HealthTech Startup Geographies Australia 6% Indonesia 3% Singapore 9% Malaysia 2% Hong Kong 3% India 28% Philipines 2% Vietnam 1% China 40% South Korea 1% Thailand 1% Japan 3% Taiwan 1% Note: WIP! Source: Health Startups Asia, a The Propell Group company!
  26. 26. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Venture Funding: Asia Key Trends Noteworthy Asia HealthTech Funding Rounds Target Category Funding Size ($M) & Stage Principal Investor(s) Guahao (CH) Navigating The Healthcare System 394.0 Series D •  Tencent •  Hillhouse Capital •  Goldman Sachs Practo (IN) Navigating the Healthcare System 90.0 Series C •  Matrix Partners •  K2 Partners Portea Medical (IN) Sensors & Diagnostics 37.5 Series B •  Qualcomm •  IFC •  Accel Partners Meet You (CH) Consumer Health & Wellness 35.0 Series B •  Matrix Partners •  K2 Partners PICOOC (CH) Sensors & Diagnostics 25.0 Series A •  Tencent •  Gobi Partners Lybrate (IN) Navigating the Healthcare System 10.2 Series A •  Tiger Global •  Ratan Tata •  Nexus Venture Target Category Funding Size ($M) & Stage Principal Investor(s) 1MG (IN) Consumer Health & Wellness 20.0 Series B •  Sequoia Capital •  Intel Capital DocDoc (SG) Navigating the Healthcare System 8.5 Series A •  Jungle Ventures •  SparkLabs ConnexionsAsia (SG) Consumer Health & Wellness 8.0 Series A •  NorthStar Investments •  BioVeda Reka Health (SG) Sensors & Diagnostics 4.0 Series A •  Tembusu Partners Our Health Mate (SG) Navigating the Healthcare System 1.0 Seed / Pre A •  LeoTech mClinica (PH) Patient Engagement 1.0 Seed / Pre A •  KickStart Ventures •  500Startups Note: WIP! Source: Health Startups Asia, a The Propell Group company!
  27. 27. ©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Healthtech: Accelerator Landscape Most Asia accelerators have a broad sector focus Next 12 months will likely see the launch of additional healthtech focused accelerators •  There are 100+ incubators & accelerators across Asia – virtually none are 100% focused on healthtech •  Growing maturity of the ecosystem vs. 115 healthtech accelerators worldwide (87 in the US) •  Putting Asia / Singapore on the map •  Emergence of corporate incubators with a healthtech focus Incubator! Accelerator! Focused! Broad! Clearbridge Accelerator (SG)! AIA ! (HK & SG)! MetLife (SG)! Independent! Captive! JFDI Asia (SG)! BioFactory (SG)! SPRING SSA MedTech (SG)1! SparkLabs (KR)! rockstart! (SG)! Modern Ageing! (SG)3! Muru D! (SG)! Other Asia Accelerators2! Note 1: Zicom MedTacc and Med Tech Alliance, together with SPRING Singapore will co-invest S$60 million to develop promising medical technology ventures! Note 2: A number of accelerators exist in Asia e.g. GSF India which operate on a similar model to JFDI Asia but have no deliberate focus on healthtech! Note 3: Modern Ageing is a pre-Accelerator! EVA ! (IN)!
  28. 28. •  HealthTech is disrupting healthcare and its stakeholders •  Technology is driving a new paradigm to create better healthcare •  New opportunities are opening to shape the new paradigm •  Developing Asia will innovate faster & leapfrog its infrastructure •  How will Singapore continue to play a key role? Healthcare is changing dramatically
  29. 29. Julien de SALABERRY Experienced regional head and GM. 15+ years in healthcare with leading brands including Eli Lilly, Boston Scientific, Baxter, GSK, Merck & Co. Significant Asia Pacific Experience. The Propell Group is a boutique venture investor and adviser firm focused on early stage companies in healthcare technology Co-Founder of Galen Growth Asia Co-Author of iDisrupted Founder & CIO Ÿ The Propell Group M: +65 9488 7334 Ÿ julien@propellgroup.biz @enquirepropell

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