Newtopia, a startup that uses genetics to develop personalized health plans, said it has received a “major” investment from healthcare investment banking firm Bloom Burton that will help the Toronto-based company expand.
The company, started in 2012, didn’t disclose how much the investment was, but Canadian tech news site TechVibes reported that it totaled $2 million. Newtopia has now raised a total of $8 million in venture capital, according to TechVibes. A previous investment came from San Antonio-based Argo Group US, an international underwriter of specialty insurance and reinsurance products. Terms of that investment were also not disclosed.
Newtopia is targeting corporate work forces across both Canada and the U.S., “where population health trends and new legislation have highlighted the urgent need for corporations to play a supporting role in employee health,” CEO and fonder Jeff Ruby said in a statement.
Transforming Patient Care: The Role of AI-Powered Assistants
The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.
It’s platform specifically targets employees at risk for metabolic syndromes like obesity, type 2 diabetes, heart disease and stroke, and develops a highly personalized approach to lifestyle management in an effort to reduce healthcare costs. A pilot project with Aetna employees began in 2013, which the company said produced strong user feedback.