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UnityPoint Health Ventures invests in St. Louis startup Epharmix

September 25, 2019

UnityPoint Health Ventures, the venture arm of UnityPoint Health, has invested $1 million in St. Louis-based Epharmix.

Epharmix, a messaging and engagement platform for care managers, is the fourth company to be awarded by the venture fund. UnityPoint Health Ventures has also invested in Pathware, RxRevu and Coralville-based VIDA Diagnostics.

Epharmix’s evidence-based check-ins use text messages to collect patient-reported symptoms and biometrics for 24 different chronic and behavioral health conditions. Care managers receive alerts for patients who are rising risk, allowing for faster outreach to patients.

The strategic partnership will provide Epharmix access to UnityPoint’s extensive and growing network of hospitals and clinics and clinical experts who will contribute important insights on Epharmix’s product development and company growth.

“At the end of the day, our goal is to make it easier for people to live well,” said Matthew Warrens, Managing Director of Innovation at UnityPoint Health. “A big part of our decision to invest in Epharmix was based on our organizations’ strong alignment, especially on care management and population health. We’re excited to partner with Epharmix to bring their simplistic and affordable solutions to our patients and providers.”

Launched in May, UnityPoint Health Ventures is a $100 million venture fund that invests in early-stage companies in four key areas: digital health, medical devices, health care technology systems and healthcare services.

The size of the investment was not disclosed.

Previous coverage

UnityPoint Health launches $100 million venture fund -May 23, 2019

Vida Diagnostics receives $1 million investment from UnityPoint Health Ventures -July 25, 2019

Tags: Epharmix UnityPoint Health

UnityPoint Health Ventures invests in St. Louis startup Epharmix | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

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