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Asia HealthTech Innovation - Philips | The Propell Group

The document discusses the transformative impact of healthtech innovation on the healthcare industry, highlighting a shift towards technology-driven solutions and new business models. It notes that venture funding in healthtech is rapidly growing, with a notable rise in mergers and acquisitions, as established healthcare companies adapt to new market realities. Additionally, it emphasizes the need for innovation in developing markets to address significant unmet medical needs and improve healthcare accessibility.

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PHILIPS ASIA-PACIFIC Ÿ Asia HealthTech Innovation 6th May 2015 Ÿ Singapore Ÿ The Propell Group INNOVATION Asia HealthTech @enquirepropell #HealthTech
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. The Kodak Moment 130 Year Old Kodak Died in January 2010 Disrupted by the digital camera which it invented in 1975
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. The Innovator’s Dilemma New Business Models Lower performance points can grow to disrupt incumbents DISRUPTION DISRUPTION
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Healthcare Industry Uncertainty Demand vs Technology Uncertainty Greater innovation management skills required than industries in the other quadrants Source: HBR!
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Creative disruption / destruction from technological advances •  M&A activity •  New entrants Life Sciences Disappearing Act
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Spending is inefficient or non-existent •  Policies are shifting in mature & developing countries •  Increasing focus on outcomes, not volumes •  New business models are forming to address changes •  76% of Fortune 500 companies are now in healthcare The healthcare business landscape is shifting
“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 Disruption & HEALTHCARE
©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 •  Developing markets can leapfrog their healthcare infrastructure limitations •  New opportunities are opening to shape the new paradigm Healthcare is changing dramatically
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Venture funding of HealthTech continues to outpace other sectors Health Sector Funding Changes Based on total funding from 2012 and 2013 2013 vs 2012 2014 vs 2013 All Sectors Health Tech Med DevicesBiotech 9% 61% 29% 127% 10% 29% -17% 21%
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Acquisitions: Is this the start of the HealthTech sector maturing? 95 M&A Deals in 2014 - $20B ACQUIRER TARGET Flatiron Health Altos Solutions Teladoc AmeriDoc Evidera Archimedes Optum Audax Roche Bina Technologies MDLive Breakthrough Hearst Health CareinSync Cambia Health ClarusHealth Merck eCardio Google Lift Labs UnitedHealth Group MedSynergies WellTok MindBloom HCA PatientKeeper Facebook ProtoGeo (Moves) AirStrip Wireless Sense4Baby MyFitnessPal Sessions WebMD TheraSim Covidien Zephyr Technologies Sector # of M&A deals Health Tech Med Device Payer Biopharma Provider Other Healthcare Tech Other 47 8 6 6 4 4 7 13 ACQUIRER TARGET VALUE BD CareFusion $12.2B Cognizant TriZetto $2.7B Cerner Siemens Health $1.3B Optum Alere $600M Aetna bswift $400M Brighton Health Privia $400M GE API Healthcare $340M Emdeon Change Healthcare $185M Medtronic Corventis $150M Astra Zeneca Definiens $150M Intel Basis $100M Everyday Health Medico.com $100M Millenium Labs RxAnte $70M St Jude Medical CardioMEMS $60M Care.com Citrus Lane $49M Advisory Board Co. HealthPost $25M Weight Watchers Wello $9M Premier Meddius $8M DISCLOSED UNDISCLOSED
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Provide decision support tools to reduce cost, improve quality of care and outcomes through smart operational improvements in hospitals. Free health records platform which aggregates population health data across multiple sites •  Founded in the US – now launched in the UK Cloud-based data platform for real-time insights and intelligence – currently focused on oncology •  “ Software as a drug ” Cloud-based platform focused on standardizing health record management across providers e.g. hospitals Data Analytics: Transforming Data: working with and mixing data sets
©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) •  Being rolled out across Apollo hospitals in India Sophisticated physical exam: tracks & trends vitals such as to, HR, VO2, ECG, BP Flow monitor for safe and accurate infusion •  Y Combinator Accelerator graduate Reverse Innovation: Clinical and Non-clinical Application
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Reverse Innovation: Case Study A CORK, AIR, AND A LIFESAVING IDEA Innovation can be fast, cheap and outside corporate •  Jorge Odon was a car mechanic in Argentina who had an extraordinary dream •  After seeing a video on how to extract a cork from a wine bottle, he dreamt that same technique could be used to save the lives of women and newborns during childbirth •  Odon went to work in his kitchen, making a modified version of the cork extractor. Using a jar to simulate a womb and a doll to represent the baby, he fashioned a bag to be used as a traction device, believing the traction could be used to gently deliver babies through the birth canal when complications arose in second-stage labor •  Odon took his simple creation to an Argentine obstetrician. And soon, doctors with the World Health Organization (WHO) saw the potential •  BD has committed to developing the BD Odon Device™, in collaboration with Saving Lives at Birth: A Grand Challenge for Development
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Diabetes management solution for patients, health systems, and payer groups Asia founded remote monitoring for physicians to manage chronic patients Collects data and organizes feedback to help patients better manage asthma Creates innovative and cost-effective online behavior- change programs for chronic diseases •  CDC Recognised Digital Therapeutics: Patient Focused: Increase variety and frequency of data
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Nurep is global on-demand medical device support with a vision of ensuring each patient receives the best operative outcome Healthy Heart for All's mission is to make high quality cardiac care available to all members of society through its various initiatives including awareness, innovative financing, outreach, and diagnostic offerings Smith&Nephew has launched a new business model which focuses on replacing sales reps with computer-enabled processes, for example inventory management, product selection and staff training Rep-Less Sales Model Access & Affordability New Business Models Business Model Innovation: Increase relevance to the market
Healthcare REBOOT “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
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Targeted research through rational design model •  Customised clinical trials through pharmaco-genomics •  Real World Evidence research •  Customisable medical technology •  Digital marketing, tracking and sales Rebooting The Life Sciences Industry
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Partnership with Genomics England to mine information from a government project 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
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Clinical Data: Next generation clinical trials and RWE Innovative tele-health solutions through interactive health technology platform that consists of medical devices, application software, mobile apps, cloud-based web applications focused on CV 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 and Asthma Platform and algorithms allow to gather and show data for faster clinical trials, and to support patients and doctor in the extreme complexity of the real-world Neurology and Immunology treatments •  Post launch real-time patient data from extremely large numbers of patients •  Increasingly important data sets for market access and reimbursement §  Velcade (J&J) for the treatment of Myeloma ($35,000 p.a.) was initially rejected by NICE (UK). J&J agreed not charge any patient not deriving benefit. Velcade was approved
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. LOW COST PROSTHETICS Researchers at the University of Toronto, in collaboration with Autodesk Research and CBM Canada, used 3D printing to quickly produce cheap and easily customizable prosthetic sockets for patients in the developing world TAILOR MADE SENSORS Researchers have used scans of animal hearts to create printed models, and then added stretchy electronics on top of those models. The material can be wrapped around the real heart and enhanced the electronics with multiple sensors 3D Printing: Next generation medical devices BONE Professor Susmita Bose of Washington State University modified a 3D printer to bind chemicals to a ceramic powder creating intricate ceramic scaffolds that promote the growth of the bone in any shape HEART VALVES Jonathan Butcher of Cornell University has printed a heart valve that will soon be tested in sheep. He used a combination of cells and biomaterials to control the valve’s stiffness MEDICAL EQUIPMENT Dutch surgeons replaced the entire top of a 22 year–old woman’s skull with a customized printed implant made from plastic SKIN James Yoo at the Wake Forest School of Medicine in the US has developed a printer that can print skin straight onto the wounds of burn victims.
“For all emerging markets, the conditions are very challenging. But where we see challenges, I see opportunity. In fact: our challenges are your opportunities ” — Joko Widodo — President, Indonesia Asia PARADOXES
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes Immature Healthcare Infrastructure Health expenditure (%GDP) Health expenditure (per capita US$) Nurses (per ‘000 population) Doctors (per’000 population) 3.5% 3.9% 4.6% 4.9% 9.0% 9.9% 11.0% 11.4% 16.9% Kenya FranceBangla- desh India USJapan UKChina Ger- many 19.50 44.10 44.50 164.50 3,445.90 3,590.80 4,524.10 4,973.10 7,830.10 FranceGer- many JapanUKChinaIndiaKenyaBangla- desh US 0.1 1.1 1.1 1.3 7.9 8.0 8.1 9.3 11.4 Ger- many JapanUSUKFranceIndiaKenyaChinaBangla- desh 0.1 0.3 0.6 1.6 2.2 2.3 3.0 3.5 6.8 Ger- many FranceUSUKJapanChinaIndiaBangla- desh Kenya Source: World Health Organisation, Espicom
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes Large Unmet Medical Needs Cardio Vascular Disease (Deaths per 100,000) Diabetes Disease (Deaths per 100,000) Lung Cancer Disease (Death per 100,000) RTAs (Death per 100,000) Indonesia AustraliaS.Korea China USIndia BangladeshSingapore France Source: World Health Organisation, 34.7 79.7 82.4 150.8 165.8 203.7 29.2 60.3 68.8 80.5 UK Bangladesh FranceSingapore China USIndia IndonesiaS.Korea UK 10.8 13.4 23 23.8 23.8 29.5 5 8.1 9.9 15.2 Australia S.Korea FranceIndia Bangladesh USSingapore ChinaIndonesia Australia 6.5 20.3 20.5 27.3 27.5 33.5 18.2 29.6 31 35.4 UK India FranceSingapore S.Korea USChina IndonesiaBangladesh UK 5.3 13.7 16.4 18.7 20.8 22.6 4.8 6.6 6.8 13.9 Australia
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Developing Markets Diamond Deeper Market Relevance From skimming to penetrating the market Premium Market Segment Value Market Segment Underserved Market Segment 56% 30% 13% 1%
Asia HEALTHTECH “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
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Create greater awareness & patient empowerment •  Facilitate better provision through private sector •  Provide healthcare services in underserved urban and rural regions •  Analyze trends to better allocate limited resources Asia: Leapfrogging its immature infrastructure
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. HealthTech: Asia HealthTech Startup Landscape Nascent But Thriving Ecosystem Note: Not an exhaustive list! Source: Health Startups Asia! HealthTech Startup Categories Big Data & Analytics, 9 Consumer Health & Wellness, 46 Genomics & Precision Medicine, 6 Navigating the Healthcare System, 34 Patient Engagement, 52 Practice Engagement, 33 Sensors & Diagnostics, 31 Telehealth & Remote Monitoring, 9 HealthTech Startup Geographies Australia, 29 Indonesia, 14 Singapore, 41 Malaysia, 6 Hong Kong, 14 India, 72 Philipines, 10 Vietnam, 5 China, 8 South Korea, 4 Thailand, 2 Japan, 14 Taiwan, 4
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Venture funding of HealthTech: Asia key trends Noteworthy Asia HealthTech Startups Startup Funding ($M) Stage Principal Investors Meet You (CH) 35 •  Series C •  Matrix Partners •  K2 Ventures Practo (INDIA) 30 •  Series B •  Sequoia Capital PICOOC (CH) 25 •  Series B •  Tencent •  Gobi Partners HealthKart (INDIA) 20 •  Series B •  Sequoia Capital •  Intel Capital DocDoc (SG) 8.5 •  Series A •  Jungle Ventures •  SparkLabs Reka Health (SG) 4 •  Series A •  Tembusu Partners DXY (CH) 2 •  Seed & Pre A •  DCM Our Health Mate (SG) 1 •  Seed & Pre A •  LeoTech Healint (SG) 1 •  Seed & Pre A •  Wavemaker mClinica (SG) 1 •  Seed & Pre A •  500StartUps •  Kickstart Ventures
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. •  Lifestyle and wellness apps driven by growing middle class affluence •  Infrastructure management and modernisation •  Chronic disease management driven by growing health awareness •  Reverse innovation enabling better care at an affordable price point •  Growing demand for senior healthcare products and services Asia: Key Drivers
INNOVATION The Case For ” I am not most afraid of our biggest competitors. I am afraid of the guy in his garage coming up with an idea... ” — Bill Gates — Founder & Former CEO, Microsoft
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Innovation Ambition: Why Philips HealthTech Asia should innovate Innovation Ambition Matrix Moving from incremental to transformational Source: HBR!
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Why Accelerate Acceleration is about scale fast or kill early A deliberate approach to innovation acceleration is proven to generate a higher rate of success Measure Description Go / No Go Arrive at hard decisions being made much sooner, with no option to choose a “comfortable state”! Survivorship Accelerator programs increase survivorship by at least 10% to 15% by year five! Exit Probability Rate that companies get acquired after completing programmes is higher than the average rate of VC backed companies! Valuation Upside Independent valuations prove that accelerators increase the value of start-ups 4-5× in 100 days! Time to Traction Probably cut a year or more off the time it would take an independent business to achieve traction!
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Corporate Innovation Risks Corporations are not geared for innovation acceleration Conflicts rapidly develop with the core organic growth focus Roughly, what % of your innovation projects make it to market? % Less than 10% 45 Between 10% and 25% 21 Between 25% and 50% 10 More than 50% 14 Don’t Know 10 Source: Fahrenheit 2012 Measure Description Culture! •  Fear of failure! •  Fear of being the first! •  Expectation that all ventures will be successful! Risk •  Perceived career risk by employees as they step away from the core! Performance Management! •  Remuneration not aligned! •  Ill-defined or undefined KPIs! •  Outcomes misaligned with corporate goals! Process •  Corporate SOPs are cumbersome e.g. NDA ! •  Insufficient internal team skillset! •  Insufficient / complex funding process! Governance! •  No visible sponsorship and ownership at senior executive level! •  Leadership churn! Speed! •  Expectation of P&L impact in short time frame! •  Corporate decision making process slow! •  POC / POV handed back to core too early!
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Partner or Build or Buy Corporations are now partnering to innovate Initial efforts to build in-house have resulted in disappointing outcomes •  Minimise the risk of unsuccessful outcome creating internal frustrations & conflicts •  Limit the distractions and potential conflicts of interest with core business •  Ability to create greater autonomy of decision making and procedures •  Create intra-preneurs by building employee capability and develop innovative mindset •  Ability to pivot or kill projects rapidly without internal consequences •  Limit the constraints imposed by corporate culture and operating procedures •  Create greater visibility and profile both internally and externally •  Little or no EPS impact
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. Asia Healthcare Accelerator Landscape Most Asia accelerators have a broad sector focus 2015 will see the launch of 2 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) •  All players listed are potential partners •  Putting Asia / Singapore on the map Incubator! Accelerator! Focused! Broad! AHA! (SG)! Clearbridge Accelerator (SG)! AIA ! (HK)! MetLife (SG)! Independent! Captive! JFDI Asia (SG)! BioFactory (SG)! SPRING SSA MedTech (SG)1! SparkLabs (KR)! rockstart! (SG)! Modern Ageing ! (SG)! 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! EVA ! (IN)!
©2015 by The Propell Group - All rights reserved. Proprietary and Confidential. The Asia HealthTech Accelerator Unique Operating Model High-quality mentorship, strategic partnerships and access to funding to produce dramatically different results Measure Description Strong & Relevant Network! We have an expansive relevant network across the healthcare and technology industries! Experienced Leadership! We have a very experienced blend of entrepreneurship, healthcare and investment at startup and corporate level! Full Service Support! Hands-on access to technology, regulatory and commercialization expertise! Unique Operating Model! Strong collaboration between corporate and entrepreneurs enabled by an experienced team and partners! Follow-on Funding! Our objective is to have graduating Companies ready for significant funding to propell© their next phase of growth!
•  HealthTech is disrupting healthcare and its stakeholders •  Technology is driving a new paradigm to create better healthcare •  Asia healthcare will be able to leapfrog its infrastructure limitations •  New opportunities are opening to shape the new paradigm •  How is Philips HealthTech positioning itself to be a leader in Asia? Healthcare is changing dramatically
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 aha! is a dedicated health-tech accelerator focused on Asia 4 Asia healthcare technology innovation Co-Author of iDisrupted Founder & CIO Ÿ The Propell Group M: +65 9488 7334 Ÿ julien@propellgroup.biz @enquirepropell

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Asia HealthTech Innovation - Philips | The Propell Group

  • 1.
    PHILIPS ASIA-PACIFIC ŸAsia HealthTech Innovation 6th May 2015 Ÿ Singapore Ÿ The Propell Group INNOVATION Asia HealthTech @enquirepropell #HealthTech
  • 2.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. The Kodak Moment 130 Year Old Kodak Died in January 2010 Disrupted by the digital camera which it invented in 1975
  • 3.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. The Innovator’s Dilemma New Business Models Lower performance points can grow to disrupt incumbents DISRUPTION DISRUPTION
  • 4.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Healthcare Industry Uncertainty Demand vs Technology Uncertainty Greater innovation management skills required than industries in the other quadrants Source: HBR!
  • 5.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. •  Creative disruption / destruction from technological advances •  M&A activity •  New entrants Life Sciences Disappearing Act
  • 6.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. •  Spending is inefficient or non-existent •  Policies are shifting in mature & developing countries •  Increasing focus on outcomes, not volumes •  New business models are forming to address changes •  76% of Fortune 500 companies are now in healthcare The healthcare business landscape is shifting
  • 7.
    “Healthcare isn’t ascience 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 Disruption & HEALTHCARE
  • 8.
    ©2015 by ThePropell 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 •  Developing markets can leapfrog their healthcare infrastructure limitations •  New opportunities are opening to shape the new paradigm Healthcare is changing dramatically
  • 9.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Venture funding of HealthTech continues to outpace other sectors Health Sector Funding Changes Based on total funding from 2012 and 2013 2013 vs 2012 2014 vs 2013 All Sectors Health Tech Med DevicesBiotech 9% 61% 29% 127% 10% 29% -17% 21%
  • 10.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Acquisitions: Is this the start of the HealthTech sector maturing? 95 M&A Deals in 2014 - $20B ACQUIRER TARGET Flatiron Health Altos Solutions Teladoc AmeriDoc Evidera Archimedes Optum Audax Roche Bina Technologies MDLive Breakthrough Hearst Health CareinSync Cambia Health ClarusHealth Merck eCardio Google Lift Labs UnitedHealth Group MedSynergies WellTok MindBloom HCA PatientKeeper Facebook ProtoGeo (Moves) AirStrip Wireless Sense4Baby MyFitnessPal Sessions WebMD TheraSim Covidien Zephyr Technologies Sector # of M&A deals Health Tech Med Device Payer Biopharma Provider Other Healthcare Tech Other 47 8 6 6 4 4 7 13 ACQUIRER TARGET VALUE BD CareFusion $12.2B Cognizant TriZetto $2.7B Cerner Siemens Health $1.3B Optum Alere $600M Aetna bswift $400M Brighton Health Privia $400M GE API Healthcare $340M Emdeon Change Healthcare $185M Medtronic Corventis $150M Astra Zeneca Definiens $150M Intel Basis $100M Everyday Health Medico.com $100M Millenium Labs RxAnte $70M St Jude Medical CardioMEMS $60M Care.com Citrus Lane $49M Advisory Board Co. HealthPost $25M Weight Watchers Wello $9M Premier Meddius $8M DISCLOSED UNDISCLOSED
  • 11.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Provide decision support tools to reduce cost, improve quality of care and outcomes through smart operational improvements in hospitals. Free health records platform which aggregates population health data across multiple sites •  Founded in the US – now launched in the UK Cloud-based data platform for real-time insights and intelligence – currently focused on oncology •  “ Software as a drug ” Cloud-based platform focused on standardizing health record management across providers e.g. hospitals Data Analytics: Transforming Data: working with and mixing data sets
  • 12.
    ©2015 by ThePropell 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) •  Being rolled out across Apollo hospitals in India Sophisticated physical exam: tracks & trends vitals such as to, HR, VO2, ECG, BP Flow monitor for safe and accurate infusion •  Y Combinator Accelerator graduate Reverse Innovation: Clinical and Non-clinical Application
  • 13.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Reverse Innovation: Case Study A CORK, AIR, AND A LIFESAVING IDEA Innovation can be fast, cheap and outside corporate •  Jorge Odon was a car mechanic in Argentina who had an extraordinary dream •  After seeing a video on how to extract a cork from a wine bottle, he dreamt that same technique could be used to save the lives of women and newborns during childbirth •  Odon went to work in his kitchen, making a modified version of the cork extractor. Using a jar to simulate a womb and a doll to represent the baby, he fashioned a bag to be used as a traction device, believing the traction could be used to gently deliver babies through the birth canal when complications arose in second-stage labor •  Odon took his simple creation to an Argentine obstetrician. And soon, doctors with the World Health Organization (WHO) saw the potential •  BD has committed to developing the BD Odon Device™, in collaboration with Saving Lives at Birth: A Grand Challenge for Development
  • 14.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Diabetes management solution for patients, health systems, and payer groups Asia founded remote monitoring for physicians to manage chronic patients Collects data and organizes feedback to help patients better manage asthma Creates innovative and cost-effective online behavior- change programs for chronic diseases •  CDC Recognised Digital Therapeutics: Patient Focused: Increase variety and frequency of data
  • 15.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Nurep is global on-demand medical device support with a vision of ensuring each patient receives the best operative outcome Healthy Heart for All's mission is to make high quality cardiac care available to all members of society through its various initiatives including awareness, innovative financing, outreach, and diagnostic offerings Smith&Nephew has launched a new business model which focuses on replacing sales reps with computer-enabled processes, for example inventory management, product selection and staff training Rep-Less Sales Model Access & Affordability New Business Models Business Model Innovation: Increase relevance to the market
  • 16.
    Healthcare REBOOT “Great products arebecoming 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
  • 17.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. •  Targeted research through rational design model •  Customised clinical trials through pharmaco-genomics •  Real World Evidence research •  Customisable medical technology •  Digital marketing, tracking and sales Rebooting The Life Sciences Industry
  • 18.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Partnership with Genomics England to mine information from a government project 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
  • 19.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Clinical Data: Next generation clinical trials and RWE Innovative tele-health solutions through interactive health technology platform that consists of medical devices, application software, mobile apps, cloud-based web applications focused on CV 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 and Asthma Platform and algorithms allow to gather and show data for faster clinical trials, and to support patients and doctor in the extreme complexity of the real-world Neurology and Immunology treatments •  Post launch real-time patient data from extremely large numbers of patients •  Increasingly important data sets for market access and reimbursement §  Velcade (J&J) for the treatment of Myeloma ($35,000 p.a.) was initially rejected by NICE (UK). J&J agreed not charge any patient not deriving benefit. Velcade was approved
  • 20.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. LOW COST PROSTHETICS Researchers at the University of Toronto, in collaboration with Autodesk Research and CBM Canada, used 3D printing to quickly produce cheap and easily customizable prosthetic sockets for patients in the developing world TAILOR MADE SENSORS Researchers have used scans of animal hearts to create printed models, and then added stretchy electronics on top of those models. The material can be wrapped around the real heart and enhanced the electronics with multiple sensors 3D Printing: Next generation medical devices BONE Professor Susmita Bose of Washington State University modified a 3D printer to bind chemicals to a ceramic powder creating intricate ceramic scaffolds that promote the growth of the bone in any shape HEART VALVES Jonathan Butcher of Cornell University has printed a heart valve that will soon be tested in sheep. He used a combination of cells and biomaterials to control the valve’s stiffness MEDICAL EQUIPMENT Dutch surgeons replaced the entire top of a 22 year–old woman’s skull with a customized printed implant made from plastic SKIN James Yoo at the Wake Forest School of Medicine in the US has developed a printer that can print skin straight onto the wounds of burn victims.
  • 21.
    “For all emergingmarkets, the conditions are very challenging. But where we see challenges, I see opportunity. In fact: our challenges are your opportunities ” — Joko Widodo — President, Indonesia Asia PARADOXES
  • 22.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes Immature Healthcare Infrastructure Health expenditure (%GDP) Health expenditure (per capita US$) Nurses (per ‘000 population) Doctors (per’000 population) 3.5% 3.9% 4.6% 4.9% 9.0% 9.9% 11.0% 11.4% 16.9% Kenya FranceBangla- desh India USJapan UKChina Ger- many 19.50 44.10 44.50 164.50 3,445.90 3,590.80 4,524.10 4,973.10 7,830.10 FranceGer- many JapanUKChinaIndiaKenyaBangla- desh US 0.1 1.1 1.1 1.3 7.9 8.0 8.1 9.3 11.4 Ger- many JapanUSUKFranceIndiaKenyaChinaBangla- desh 0.1 0.3 0.6 1.6 2.2 2.3 3.0 3.5 6.8 Ger- many FranceUSUKJapanChinaIndiaBangla- desh Kenya Source: World Health Organisation, Espicom
  • 23.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Asia Paradoxes Large Unmet Medical Needs Cardio Vascular Disease (Deaths per 100,000) Diabetes Disease (Deaths per 100,000) Lung Cancer Disease (Death per 100,000) RTAs (Death per 100,000) Indonesia AustraliaS.Korea China USIndia BangladeshSingapore France Source: World Health Organisation, 34.7 79.7 82.4 150.8 165.8 203.7 29.2 60.3 68.8 80.5 UK Bangladesh FranceSingapore China USIndia IndonesiaS.Korea UK 10.8 13.4 23 23.8 23.8 29.5 5 8.1 9.9 15.2 Australia S.Korea FranceIndia Bangladesh USSingapore ChinaIndonesia Australia 6.5 20.3 20.5 27.3 27.5 33.5 18.2 29.6 31 35.4 UK India FranceSingapore S.Korea USChina IndonesiaBangladesh UK 5.3 13.7 16.4 18.7 20.8 22.6 4.8 6.6 6.8 13.9 Australia
  • 24.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Developing Markets Diamond Deeper Market Relevance From skimming to penetrating the market Premium Market Segment Value Market Segment Underserved Market Segment 56% 30% 13% 1%
  • 25.
    Asia HEALTHTECH “We have tolink 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
  • 26.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. •  Create greater awareness & patient empowerment •  Facilitate better provision through private sector •  Provide healthcare services in underserved urban and rural regions •  Analyze trends to better allocate limited resources Asia: Leapfrogging its immature infrastructure
  • 27.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. HealthTech: Asia HealthTech Startup Landscape Nascent But Thriving Ecosystem Note: Not an exhaustive list! Source: Health Startups Asia! HealthTech Startup Categories Big Data & Analytics, 9 Consumer Health & Wellness, 46 Genomics & Precision Medicine, 6 Navigating the Healthcare System, 34 Patient Engagement, 52 Practice Engagement, 33 Sensors & Diagnostics, 31 Telehealth & Remote Monitoring, 9 HealthTech Startup Geographies Australia, 29 Indonesia, 14 Singapore, 41 Malaysia, 6 Hong Kong, 14 India, 72 Philipines, 10 Vietnam, 5 China, 8 South Korea, 4 Thailand, 2 Japan, 14 Taiwan, 4
  • 28.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Venture funding of HealthTech: Asia key trends Noteworthy Asia HealthTech Startups Startup Funding ($M) Stage Principal Investors Meet You (CH) 35 •  Series C •  Matrix Partners •  K2 Ventures Practo (INDIA) 30 •  Series B •  Sequoia Capital PICOOC (CH) 25 •  Series B •  Tencent •  Gobi Partners HealthKart (INDIA) 20 •  Series B •  Sequoia Capital •  Intel Capital DocDoc (SG) 8.5 •  Series A •  Jungle Ventures •  SparkLabs Reka Health (SG) 4 •  Series A •  Tembusu Partners DXY (CH) 2 •  Seed & Pre A •  DCM Our Health Mate (SG) 1 •  Seed & Pre A •  LeoTech Healint (SG) 1 •  Seed & Pre A •  Wavemaker mClinica (SG) 1 •  Seed & Pre A •  500StartUps •  Kickstart Ventures
  • 29.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. •  Lifestyle and wellness apps driven by growing middle class affluence •  Infrastructure management and modernisation •  Chronic disease management driven by growing health awareness •  Reverse innovation enabling better care at an affordable price point •  Growing demand for senior healthcare products and services Asia: Key Drivers
  • 30.
    INNOVATION The Case For ”I am not most afraid of our biggest competitors. I am afraid of the guy in his garage coming up with an idea... ” — Bill Gates — Founder & Former CEO, Microsoft
  • 31.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Innovation Ambition: Why Philips HealthTech Asia should innovate Innovation Ambition Matrix Moving from incremental to transformational Source: HBR!
  • 32.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Why Accelerate Acceleration is about scale fast or kill early A deliberate approach to innovation acceleration is proven to generate a higher rate of success Measure Description Go / No Go Arrive at hard decisions being made much sooner, with no option to choose a “comfortable state”! Survivorship Accelerator programs increase survivorship by at least 10% to 15% by year five! Exit Probability Rate that companies get acquired after completing programmes is higher than the average rate of VC backed companies! Valuation Upside Independent valuations prove that accelerators increase the value of start-ups 4-5× in 100 days! Time to Traction Probably cut a year or more off the time it would take an independent business to achieve traction!
  • 33.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Corporate Innovation Risks Corporations are not geared for innovation acceleration Conflicts rapidly develop with the core organic growth focus Roughly, what % of your innovation projects make it to market? % Less than 10% 45 Between 10% and 25% 21 Between 25% and 50% 10 More than 50% 14 Don’t Know 10 Source: Fahrenheit 2012 Measure Description Culture! •  Fear of failure! •  Fear of being the first! •  Expectation that all ventures will be successful! Risk •  Perceived career risk by employees as they step away from the core! Performance Management! •  Remuneration not aligned! •  Ill-defined or undefined KPIs! •  Outcomes misaligned with corporate goals! Process •  Corporate SOPs are cumbersome e.g. NDA ! •  Insufficient internal team skillset! •  Insufficient / complex funding process! Governance! •  No visible sponsorship and ownership at senior executive level! •  Leadership churn! Speed! •  Expectation of P&L impact in short time frame! •  Corporate decision making process slow! •  POC / POV handed back to core too early!
  • 34.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Partner or Build or Buy Corporations are now partnering to innovate Initial efforts to build in-house have resulted in disappointing outcomes •  Minimise the risk of unsuccessful outcome creating internal frustrations & conflicts •  Limit the distractions and potential conflicts of interest with core business •  Ability to create greater autonomy of decision making and procedures •  Create intra-preneurs by building employee capability and develop innovative mindset •  Ability to pivot or kill projects rapidly without internal consequences •  Limit the constraints imposed by corporate culture and operating procedures •  Create greater visibility and profile both internally and externally •  Little or no EPS impact
  • 35.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. Asia Healthcare Accelerator Landscape Most Asia accelerators have a broad sector focus 2015 will see the launch of 2 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) •  All players listed are potential partners •  Putting Asia / Singapore on the map Incubator! Accelerator! Focused! Broad! AHA! (SG)! Clearbridge Accelerator (SG)! AIA ! (HK)! MetLife (SG)! Independent! Captive! JFDI Asia (SG)! BioFactory (SG)! SPRING SSA MedTech (SG)1! SparkLabs (KR)! rockstart! (SG)! Modern Ageing ! (SG)! 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! EVA ! (IN)!
  • 36.
    ©2015 by ThePropell Group - All rights reserved. Proprietary and Confidential. The Asia HealthTech Accelerator Unique Operating Model High-quality mentorship, strategic partnerships and access to funding to produce dramatically different results Measure Description Strong & Relevant Network! We have an expansive relevant network across the healthcare and technology industries! Experienced Leadership! We have a very experienced blend of entrepreneurship, healthcare and investment at startup and corporate level! Full Service Support! Hands-on access to technology, regulatory and commercialization expertise! Unique Operating Model! Strong collaboration between corporate and entrepreneurs enabled by an experienced team and partners! Follow-on Funding! Our objective is to have graduating Companies ready for significant funding to propell© their next phase of growth!
  • 37.
    •  HealthTech isdisrupting healthcare and its stakeholders •  Technology is driving a new paradigm to create better healthcare •  Asia healthcare will be able to leapfrog its infrastructure limitations •  New opportunities are opening to shape the new paradigm •  How is Philips HealthTech positioning itself to be a leader in Asia? Healthcare is changing dramatically
  • 38.
    Julien de SALABERRY Experienced regionalhead 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 aha! is a dedicated health-tech accelerator focused on Asia 4 Asia healthcare technology innovation Co-Author of iDisrupted Founder & CIO Ÿ The Propell Group M: +65 9488 7334 Ÿ julien@propellgroup.biz @enquirepropell