News and Announcements
Digital Maternity Start-up targets the $8B Remote Patient Monitoring opportunity in Maternity
- Published February 17, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Among the 4 million childbirths in the United States every year, more than 20% encounter some form of complication that could have been diagnosed, managed, and possibly prevented if the pregnant mother was more regularly monitored. Pregnancy related complications add an extra burden of over $80B per year in the United States. This burden can be greatly decreased with more frequent monitoring, which Materno addresses.
Materno, Metronomic’s specialised maternity platform, connects pregnant mothers to their obstetrician and offers a simple home-based monitoring solution to assist clinicians in identifying complications early. We have combined evidence based clinical guidance and pathways, ability to integrate predictive analytics algorithms, remote monitoring, and real time patient engagement in one easy-to-use solution.
The Covid pandemic has highlighted the importance of remote monitoring, resulting in revisions of reimbursement policies by Medicaid and commercial insurance companies in the United States. Metronomic has identified an additional reimbursement possibility of nearly $2,000 per patient to help pay for remote monitoring services.
To date, Metronomic has raised $1.2m to develop the platform in association with practising obstetricians. The total addressable market is estimated to be $8B for Metronomic’s platform, Materno. Materno is being launched in Q1 and Q2 2022 with several provider groups.
They are also in ongoing conversations at different stages with some of the biggest obstetrician groups (between 800 and 2000 providers/doctors). One of them being a New York based healthcare VC which is incubating an Obstetric Management Service Organisation (MSO) to become their strategic partner.
Raise
Metronomic are raising a SAFE pre seed raise of $1M of which $300K is already committed and are looking to close the remaining $700K within the next month. The SAFE is offered at a 30% discount to the next round and a valuation cap of US $20M for the next equity round.
Metronomic’s SAFE investment will set the stage to get to US $50K MRR and position Metronomic for a full-fledged seed investment of US $5M by early Q3.
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