Healthapps

Healthapps Healthapps- Connecting Health, Enriching Lives

Health And Fitness
Pre-Live
  • RM 800,400
    Min. Target

This campaign is accepting reservations.

Reserve your spot now to ensure you can invest when Healthapps starts the offering.
  • Equity - OS
  • ~ up to 12.91%
  • RM 10,800,000
  • RM 800,400
  • RM 1,600,800
  • -
  • Healthapps Sdn Bhd
  • 49 Jalan SS22A/1, Damansara Jaya,
  • 1108109P
What's New
2
Q&A posted
  • Healthapps is a digital health platform providing continuous glucose level monitoring for diabetic patients.
  • Appointed as Digitalization Partner by Bank Simpanan Nasional on 30th August 2023 to assist MSME accelerate digital transformation.
  • Healthapps' AskMYDoctor app will go live on 18th November 2023 during Global Entrepreneurship Week organized by Digital Penang.

Summary

Healthapps combines AI with medical technology, revolutionizing healthcare through innovative solutions. There will be 2 apps that will be launched. 

The first is the AskMYDoctor app, which will be live on 18th November 2023 where users can schedule telehealth consultations with medical doctors. 

The second app that will be launched in 1H 2024 is for preventive care services helping users with Non-Communicable Diseases (NCD) to record, store, and share personal health information.

Both these apps empower individuals to track and store their vital signs securely in the cloud, facilitating real-time sharing and telehealth consultations with healthcare providers. 

To bring our solution to market and expand our reach, we are seeking funding support. This investment will enable us to further develop our technology, enhance our platform, and effectively launch our product to make a significant impact in the healthcare industry.

Problem

Non-Communicable Diseases (NCDs) like diabetes, cardiovascular diseases, cancer, and chronic respiratory diseases have become a leading cause of illness, disability, and death worldwide. In addition, NCDs pose a significant burden on healthcare systems, economies, and the overall well-being of individuals and communities.

There are several existing pain points in managing NCDs which are not addressed:

Limited Access to Healthcare: Many individuals face challenges in accessing healthcare services, especially in remote or underserved areas. The lack of physical infrastructure and healthcare professionals makes it difficult for people to receive timely and adequate care.

Inefficient Health Monitoring: Traditional methods of health monitoring often require frequent in-person visits to healthcare facilities, which can be inconvenient and time-consuming. This hampers the ability to track health conditions effectively and intervene promptly when needed.

Fragmented Health Data: Health records and data are often stored in fragmented systems, making it difficult for healthcare providers to have a comprehensive view of a patient's medical history. This can lead to delays in diagnosis, treatment, and care coordination.

Reactive Approach to Healthcare: The healthcare system tends to be more reactive, focusing on treating illnesses rather than preventing them. There is a need for a shift towards proactive and preventive care, empowering individuals to manage their health and make informed decisions.

Lack of Personalized Care: Due to limitations in time and resources, providing personalized care to each patient can be a challenge. Tailoring treatment plans and interventions based on individual needs and preferences is essential for better health outcomes.

At Healthapps, we aim to revolutionize the industry and improve healthcare accessibility, efficiency, and outcomes for individuals globally.

Solution

Our solution to the challenges in the healthcare industry involves merging AI-powered digital health technologies with medical technology. By doing so, we aim to address the following problems:

Limited Access: We overcome the limitations of physical infrastructure and healthcare professional availability by providing remote access to healthcare services through our AI-driven platform. This enables individuals in remote or underserved areas to connect with healthcare providers and receive timely care.

Inefficient Health Monitoring: Our AI-powered applications allow individuals to track and monitor their vital signs and health conditions from the comfort of their homes. This provides more efficient and convenient health monitoring, reducing the need for frequent in-person visits to healthcare facilities.

Fragmented Health Data: We streamline health records and data by implementing integrated digital health platforms. This ensures that healthcare providers have access to comprehensive and up-to-date information, enabling better decision-making, coordination of care, and improved patient outcomes.

Reactive Approach to Healthcare: Through our AI technology, we promote a proactive approach to healthcare by leveraging data analytics and predictive modeling. By analyzing health data and identifying patterns, our system can provide early warnings, preventive measures, and personalized interventions, shifting the focus from reactive treatment to preventive care.

Lack of Personalized Care: Our AI-driven platform enables personalized care by leveraging machine learning algorithms and patient data. It tailors treatment plans, recommendations, and interventions based on individual characteristics, preferences, and medical history, ensuring a more patient-centric approach to healthcare.

By combining AI digital health with medical technology, our solution aims to address the pain points within the healthcare industry, improving access, efficiency, coordination, and personalization of care for individuals globally.

Product

Healthapps offers a digital health solution - FDA & CE certified devices with a mobile app for the individual to self-screen & monitor their health at home. We help people to monitor blood glucose, blood pressure, blood oxygen, heart rate variability & body temperature.

Our subscribers benefit from cutting-edge Internet-of-Medical Things (IoMT) devices, exclusively provided by us, along with our advanced AI cloud platform. This powerful combination enables seamless collection, secure storage, and effortless sharing of personalized vital signs data, encompassing heart rate, SpO2, body temperature, blood pressure, and blood glucose levels. By securely storing this valuable information in the cloud, we ensure convenient access and facilitate real-time sharing with healthcare providers.

Moreover, our platform offers an integrated telehealth consultation feature that empowers individuals to connect and consult with their healthcare providers remotely, from anywhere. This capability revolutionizes healthcare delivery by fostering proactive and personalized care, breaking down geographical barriers, and enhancing the overall healthcare experience.

Our unique proposition lies in being the first local telehealth service provider with Malaysia Digital Status approved by MDEC which specializes in the management of non-communicable diseases such as diabetes, hypertension, aged care & personalized healthcare.

Our AskMYDoctor app is registered with Apple App Store & Google Play Store, making it convenient for users on different operating systems to benefit from our services.

Traction

Healthapps is a Malaysia Digital Status (MD) company approved by Malaysian Digital Economy Corporation (MDEC). MD status company will be offered a set of incentives, rights, and privileges by the Government and enjoy greater flexibility and agility to operate, grow, and expand anywhere in Malaysia.

Healthapps is also one of the 96 Digital Partner (DP) appointed by Malaysian Communications and Multimedia Commission (MCMC), Malaysian Digital Economy Corporation (MDEC) & Bank Simpanan Nasional (BSN) to help MSMEs in the digitalization process with 50% matching grants offered by the Madani government. Under the 2024 Malaysian Budget, a total of RM100 million was allocated for this purpose. 

Healthapps is the only DP in the Digital Health sector. The Madani matching grant is a recognition from the government for our efforts to commercialize telehealth consultation via AskMYDoctor (1st App) & preventive care targeting Non-Communicable Diseases (via 2nd App).

On August 30, 2023, we were appointed as a Digitalization Partner (DP) by Bank Simpanan Nasional (BSN) to help Micro, Small, and Medium Enterprises (MSME) accelerate their digital transformation which digital health is one of the promoted sectors. BSN will be allocating RM100 matching grants for MSMEs under the Malaysia Budget 2023. 

We have planned a series of soft launches for our telehealth services in Malaysia in conjunction with MDX 2023, a transformative six-week tech event, including conferences, exhibitions, launches, and business networking hosted by MDEC between 25 September to 4 November. 

This initial rollout will serve as an opportunity to fine-tune and optimize our services before proceeding to a grand launch in the ASEAN Economic Community (AEC) in 2024. By strategically expanding our reach to the AEC, we aim to make our innovative telehealth solutions accessible to a broader audience, benefiting individuals across the region with convenient and efficient healthcare services.

Customers

Our company's potential customer base includes individuals who are managing non-communicable conditions like prediabetes, diabetes, and hypertension, as well as the elderly population. 

In Malaysia, the total addressable market for our company consists of over 10 million people dealing with diabetes and prediabetes. Additionally, as of 2020, Malaysia had a 14% portion of its population comprising elderly individuals who require greater healthcare support.

Business Model

Our current business model operates on a subscription-based structure complemented by a pay-for-use model.

We offer an annual subscription fee of RM120 to users, granting them access to our AI cloud platform for secure storage and sharing of personalized health data such as blood glucose monitoring, body temperature monitoring, and other vital signs monitoring services. 

Additionally, we are introducing pay-for-use telehealth services to cater to doctor needs on telehealth consultation services. 

With this approach, we aim to provide flexible options while ensuring the availability of essential healthcare services tailored to each individual's requirements.

Market

About 422 million people worldwide have diabetes and 1.5 million deaths are directly attributed to diabetes each year. Diabetes is one of major non-communicable diseases. Approximately 3.9 million Malaysians have diabetes, with an additional 7.5 million living with pre-diabetes. 

As a digital health company, we have the potential to scale and enter the 600 million population market of the ASEAN Economic Community following our successful seed funding round via equity crowdfunding.

Competition

Our local competitors include over 7,000 traditional GP clinics nationwide and Doctor Anywhere, an app-based telehealth service provider backed by Temasek Holdings Limited a global investment company owned by the Government of Singapore.

Funding

We have set our fundraising target at a minimum of RM800,000 and a maximum of RM1.6 million through the issuance of new ordinary shares. The proceeds from this funding round will be allocated as follows:

●  20% will be dedicated to technology improvement, enabling us to enhance and refine our AI-driven healthcare platform, ensuring continuous innovation and the highest level of user experience.

● 50% will be allocated to business and market development initiatives. This includes expanding our market reach, conducting marketing campaigns, forging partnerships with healthcare providers, and establishing a strong presence in key target regions.

● 30% of the funds will be allocated to fulfill working capital requirements, ensuring the smooth day-to-day operations of the company, supporting staffing needs, and meeting any unforeseen financial obligations.

By allocating funds strategically across these areas, we aim to strengthen our technological capabilities, drive business growth, and ensure operational stability as we strive to revolutionize the digital health industry.

Vision

Healthapps vision is to revolutionize healthcare, making it universally accessible and significantly improving the well-being of mankind

Our mission is to become the leading digital health provider in ASEAN, specializing in diabetic, hypertension, and personalise healthcare management

Founders

Mr. Vince Yeoh Chye Lin, Malaysian, aged 51, CEO of Healthapps. He holds a Diploma in Medical Laboratory Technologist from University Science Malaysia. He is a member of the Malaysia Institute of Medical Laboratory Science (MIMLS). He works and holds various senior management positions in various medical equipment & medical pathology companies in Malaysia

Mr. Loke Khing Hong, Malaysian, aged 50, CFO of Healthapps. He hold a Bachelor Degree (Hons) in Business Administration from Bolton University, United Kingdom. He is a Chartered Accountant. He has many years of senior management experience with PLCs prior taking up the role as CFO of Healthapps

Ms. Amy Loke Mei Juan, Australian, aged 59, Head of Customer Care. Ms. Amy is a registered nurse at NSW Health Australia. She has gained years of experience in nursing care, home care & aged care sectors at NSW Australia

Team

Prof Dr Mustafa Ali, Company advisor, Retired professor in the Department of Pharmacology, Faculty of Medicine, University of Malaya, Malaysia. He has vast research and teaching experience in various fields, particularly in chromatographic and mass spectrometric techniques. He is a member of editorial board of several scientific journals and he holds a position as advisory committee for several high level decision making bodies in food safety and quality, including as expert panel member in WHO expert meetings. His late wife is an advocate of diabetic therapist.

The founders and advisors collectively possess over 100 years of experience in related fields, serving as a valuable asset to the company.

Investment Terms

 

Disclosure

  1. pitchIN and its officers and staff may also be investing in this campaign
  2. Under ECF Guidelines, valuation is determined and set by the Issuer. Investors are advised to carefully peruse all investment offers and documents before making investment decisions.
  • Equity - OS
  • ~ up to 12.91%
  • RM 10,800,000
  • RM 800,400
  • RM 1,600,800
  • -
  • Healthapps Sdn Bhd
  • 49 Jalan SS22A/1, Damansara Jaya,
  • 1108109P
Warning
Equity Crowdfunding is risky. You are investing in early stage companies which may not do well and could even fail. You could lose part or all of your investment. You may not be able to sell your shares easily. Learn more