The study of mental or cognitive function has always been a subjective pursuit, unlike other medical sciences which rely on irrefutable facts. This is a problem for those who are studying mental or cognitive illnesses. Until now. Mind strong Health, a startup which focusses on mental health issues, is proceeding with an innovative technology which tracks cognitive function of patients based on the way they use their smart phones. The company has raised $14 million in the process. The technology takes into account various parameters such as the way the person using the smartphone types and scrolls on the device. In short, this technology will allow researchers to study mental illnesses objectively.
Needless to say, this is huge news for the mental health world. For those who are skeptical about this method, Mindstrong Health has said that they will release data regarding their research they have done so far. Mental health issues is a worldwide phenomenon. Smartphones are available everywhere. That means the potential to do research and diagnosis is virtually unlimited. The Fund raising was led by Foresite Capital, ARCH Venture Partners, Berggruen Holdings, Optum Ventures, and One Mind Brain Health Impact Fund. Mindstrong is based in Palo Alto, California.
Jim Tananbaum is the founder and CEO of Foresite Capital and has been in the health care investment world for nearly 25 years. His company has $1.1 billion in assets under his management. Even before he started Forsite Capital he co-founded two healthcare investment and two biopharmaceutical companies. While finishing medical school at Harvard, he started a pharmaceutical company called GelTex, which developed two drugs that went on to do over $1 billion dollars’ worth of business. GelTEx was later sold for $ 1.6 billion. Check out Crunchbase for more details.
Other major Investments Jim Tananbaum has been involved in include Amira Pharmaceuticals, Healtheon, Amerigroup, and Jazz Pharmaceuticals. Along with his medical degree from Harvard Jim holds a B.S and B.S.E.E degree from Yale, M.S degree from MIT and an M.B.A from Harvard Business School. Forbes has named Mr. Jim Tananbaum among 100 best venture investors for three years in a row now.
See more: http://www.massdevice.com/neuropsych-treatment-diagnosis-platform-dev-mindstrong-health-raises-14m-series/
Pinky Swear Grows On December 11, 2014, 9-year-old Mitch Chepokas withdrew his entire $6000 savings from the bank and gave it to help fellow patients in the pediatric oncology floor of his hospital, the University of Minnesota Children’s Hospital. The 9 yr. old’s goal goal was to spread as much holiday cheer as possible to children like him who were making the fight of their lives. Knowing that he would probably not survive to see the next December 11, Mitch influenced his dad “pinky swear” to keep helping kids with cancer. That formed the Pinky Swear Foundation and now, after 10 years, Mitch’s father and associates have been raising money to keep up the giving In December 2015, Nobilis decided they would become a part of the helping group, too. They are now the corporate partner of the Pinky Swear Foundation. New Name New Expansion This year, Northstar Healthcare Inc. (NHC) changed its exchange name to Nobilis Health Corp. Harry Fleming, President, announced, “We are happy to introduce our patients, physician-partners, and investors to Nobilis Health Corp.” The change is a red tape one, since the company will be expanding into American business markets, and by changing their name to Nobilis, the company avoids confusion with entities using the Northstar name on American stockhouse exchanges. The Nobilis registration statement is pending with the United States Securities and Exchange Commission. Nobilis seeks a dual listing on a notable United States exchange in early 2015. Nobilis will continue to trade on the TSX as ‘NHC.’ The company will begin trading on the TSX under the new name ‘Nobilis Health Corp.’ in the next trading days pending the final TSX clearance.
Mission Purpose of Nobilis
The health care company partners with physicians in ownership/management of ambulatory and acute care facilities and many healthcare services. . Additionally they own one acute care hospital in Houston and own and manage interests in two imaging centers and one urgent care clinic also in Houston. The business move is a prudent and timely one as health care interests within the industry are all doing well and experiencing growth and expansions. Harry Fleming will remain as President of Nobilis Health Corporation and vanguard its innovations and expansion interests. .