obstetric virtual care company baby script Raised $12 million in the first round of Series B investment that will enable the company to accelerate the roll out of its virtual maternity care tool platform for providers.
MemorialCare Innovation Fund led the investment and is joined by Philips Ventures and CU Healthcare Innovation Fund. BabyScripts co-founder and president Juan Pablo Segura told Nerdshala that BabyScript has raised about $26 million so far in the new round of funding.
We last checked into Washington, DC-based BabyScript two years ago when Philips invested $6 million in the company. A lot has happened since 2019, Segura said.
At the time, the company had a product in place and was working with hospitals and healthcare providers to distribute a medical device and mobile app to provide expectant mothers with blood pressure monitoring and newborn care information.
Today, the company has a number of kits that can be targeted to patients, including blood pressure monitoring, weighing and captured blood sugar. BabyScript can automate 40% to 50% of antenatal care and alert doctors as to health problems so that both mother and baby are healthy. On one physician site, the use of BabyScript helped open about 1,000 appointments a year so obstetricians could focus on high-risk patients, Segura said.
It has a large population health focus – driven primarily by the pandemic – to help high-risk mothers with remote patient monitoring and virtual care, as well as work to address issues of health inequality.
Segura said more than 70% of patients using BabyScript are on Medicaid, which may be the only safety net provider in the patient’s geography. As a result, the company began building partnerships with public health departments, managed Medicaid plans, and providers, such as priva health, so that BabyScript can be paid for locally.
“Right now, one of the biggest challenges for a pregnant patient on Medicaid and working an hourly job is asking mothers to choose between prenatal care and putting food on the table,” he said. “50 percent of maternal complications are avoidable, but a lot of these issues come from the fact that the model of antenatal care hasn’t changed in 40 years. About 12% to 15% of deaths are from complications of blood pressure. If we To rapidly intervene and monitor through BabyScript or more coordinated care, we can end the incidence of mass childbirth in motherhood and reduce the incidence of mortality in this country.”
Amidst the pandemic, BabyScript saw a 10-fold increase in enrollment. Segura decided to go after a new round of funding to address the need and opportunities that could be addressed. The BabyScripts program is now used by 75 health systems in 32 states, and the company is monitoring 250,000 women each year.
The company continues to receive inquiries from markets and payers who want to do more for pregnant patients, so Segura wants to be able to grow to meet that demand and go to market to bring its kit to multiple hands. Wants to invest in the strategy of As far as possible.
The new funding will also enable the company to release new features. She recently launched a mental health product and is developing a substance use disorder experience among others, he said. BabyScript is also working with payers nationally and building an infrastructure around it.
The company currently has 45 employees, and Segura expects to double this over the next 12 to 18 months in the areas of product, payer development, clinical expertise, implementation and customer success. She said BabyScript is working toward becoming available in all 50 states and bringing more public health departments and payers as partners to make more health systems work together.
Meanwhile, Caleb Winder, managing director of the MemorialCare Innovation Fund, said he was attracted to BabyScript’s outcome data and its addressing the high rate of complications in pregnancies. Not only does this eliminate hours of waiting at the doctor’s office for just five minutes, but it also closes some gaps in care, he said.
“One of the problems in this space is that providers, as much as they want to help, are thin,” Winder said. “There are also accessibility problems. 50% of the counties in this country lack an OB, so individual care is difficult. BabyScript can help patients monitor and manage their health virtually anywhere. It can also alert the doctor if there is a real problem. For example, we looked at their data, which showed preeclampsia was diagnosed 13 days faster than the standard of care. “