Billlionaire investor Mark Cuban, who owns the Dallas Mavericks and Landmark Theaters and is a regular on Shark Tank, has expanded his interests to personalized health. He is part of a group of investors in mobile health startup, Validic,which raised $760,000 in a seed round. The Durham, N.C., company has developed a platform to integrate and aggregate data from more than 80 health-oriented apps.
Cuban said this about the investment:
“Personalized health is the future of healthcare…and with the explosive growth of new mobile apps and devices coming on the market, Validic solves a fundamental problem of integrating all those new innovations into the healthcare system. I’m very excited for the future of Validic and the mobile health space.”
One of the goals of healthcare reform is interoperability. How do you transmit data about a fitness workout, physical therapy workout to, say, an electronic health record or a personal health record?
All the ingenuity spent in developing mobile health apps has produced more than 40,000 (well technically about 23,000 but who’s counting?). But if the big goal is to integrate apps into healthcare, there needs be a way of de-siloing this information from each app and aggregating it so that it’s accessible and fits into workflows of physical therapists, doctors, nurses, etc.
The company, which says it is fully HIPAA compliant, said on its website that it’s not only working with fitness tracking apps but also remote monitoring devices and it invites mobile health app developers to collaborate.
Mark Cuban isn't the first billionaire to invest in a mHealth startup. I've made a list and so far the count is at 20!