Industrial manufacturing drops 0.4% in June in comparison with Might, reveals IBGE

Industrial manufacturing drops 0.4% in June in comparison with Might, reveals IBGE

Argentinian Mariano García-Valiño made his career in the healthcare industry: he was an executive at Pfizer, worked at Warburg Pincus covering the sector and founded Biotoscana – the high-complexity drug company sold to Knight Therapeutics.

Mariano left Biotoscana shortly before the sale, and two years later he started up again, creating a startup that monitors chronic diseases by connecting to devices such as scales and blood pressure and glucose meters.

Axenya started with $1 million of equity from Mariano and Renato De Giorgi, its co-founder in Biotoscana.

“In the first year, we spent that entire US$ 1 million just to do clinical research, without even starting operations,” the entrepreneur told the Brazil Journal.

With the studies, Axenya was able to prove that its monitoring systems were able to reduce the level of glycated hemoglobin in patients with diabetes by 1 percentage point.

It doesn’t seem like much, but this reduction cuts the risk of heart attack by 14%, the risk of stroke by 12%, and the risk of dying from diabetes by 21%.

In addition, this reduction in glucose directly affects operators’ pockets, reducing the cost of dealing with a patient with type 1 diabetes by about 13%, which today is around US$ 10,000 per year in the private system.

Late last year, Axenya raised another $4 million from funds like Big Bets, Alexia Ventures, NXTP, and Igah Ventures to start scaling the business, selling its solution to enterprises.

In one year, it got eight clients (mainly health plans) that add up to more than 10 thousand lives and pay a monthly subscription per life.

now the healthtech has just made a transformational move – merging with health insurance broker HealthCo and verticalizing its business. (Before, Axenya had to go through the operator to reach the companies; now it will access them directly).

The transaction was structured as an exchange of shares, with the founders of HealthCo owning 18% of the capital of the new company.

HealthCo – which only sells business plans – will add 32,000 lives to the business, raising Axenya’s revenue to R$5 million this year. In 2023, the expectation is to earn BRL 25 million.

The synergy is clear. Unlike most brokerages, whose commission is a percentage of the companies’ health care costs, HealthCo charges a fixed amount per life – plus a variable on top of reductions of the claims costs that it manages to generate over the course of the contract.

Axenya systems will help on just that front.

The startup has developed systems that monitor chronic diseases such as diabetes, obesity, hypertension and cholesterol – which represent around 30% of all insurance claims. In the coming months, it will also launch a system to monitor mental health, sleep quality and smoking.

“By half of next year we want to monitor 80% of claims,” said Mariano.

The thesis is that by applying Axenya systems to HealthCo’s client companies, it will be able to better contain the costs of healthcare companies, boosting their variable revenue and attracting new clients.

Today, HealthCo already delivers impressive numbers. In 2020 and 2021, it was able to readjust its plans by just 2.5% and 6.3%, compared to an average market readjustment of 20% and 26%.

Where’s the magic?

“The first point is that HealthCo cares about reducing costs, it has alignment. But in addition they have a system that first makes a demographic and historical analysis of the population of the plan; then they do a people survey; and finally they select a few people to monitor individually,” said Mariano.

According to him, this monitoring is now done manually, which makes HealthCo able to monitor only a small portion of the population of the plans (around 10%).

“With our system we will be able to scale this to 100% of the population of the plans.”

Source: Brazil Journal

The post Industrial production drops 0.4% in June compared to May, reveals IBGE appeared first on BizNews Brasil :: News of Mergers and Acquisitions of Companies.

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