HOUSTON INNOVATORS PODCAST EPISODE 86

Houston innovator focuses on advancing health care innovation from the bench to the bedside

Emily Reiser joins the Houston Innovators Podcast to discuss the latest at TMC Innovation. Photo courtesy of TMC Innovation

When it comes to the Texas Medical Center's innovation community, Emily Reiser is a professional dot connector. As senior manager for innovation community and engagement for TMC Innovation, she's tasked with connecting everyone within the accelerator, the biobridges, the coworking companies, and more with the resources they need.

"When we think about how a startup is going to be successful, we think about how they are going to build new partnerships. But we also think about all the people they're going to need to activate and bring them to the next level," Reiser says on this week's episode of the Houston Innovators Podcast. "What we do is curate a community of high-value resources that can help these companies elevate to that next level."

Reiser explains this includes mentors, subject matter experts, consultants for regulatory needs, and more. On one hand, its providing curated support, but on the other hand, especially in non-COVID times, it's creating an atmosphere where people can run into each other at an event or onsite.

"My role is to help make sure that we bring all these people together and activate them so that everyone can get to that next level faster," Reiser says. "My favorite analogy is a switchboard operator. You take what someone needs on one end and connect it to what someone needs on the other end."

Health care in general has been greatly affected by the pandemic, Reiser says, and investment and innovation within health care hasn't been immune to challenges over the past year or so either. One of the greatest effect has been on telemedicine, she says.

"The fact is that this technology existed previously but had faced adoption hurdles — both by patients and providers themselves — prior to the pandemic, but when COVID hit and the policy changed how those visits were getting covered for reimbursement, that's opened up an entire wave of adoption," Reiser explains. "There's nothing like what happened this past year in terms of accelerating one component of health care innovation like this."

Telemedicine, as well as other emerging technologies that came out of the pandemic, are top of mind for Reiser and her team — as is advancing medical innovation across the TMC.

"When you think about the Texas Medical Center as just one example of where we sit in this entire environment, we have fantastic delivery of care," Reiser says. "We also have this incredible amount of research done on campus, a lot of federal funding for grants, and different innovations coming out at that early stage."

There was a unique opportunity in Houston to build upon another aspect of of the greater health care industry that existed between the research stage and the point of care,

"But up until about six years when TMC Innovation first opened, we didn't have a lot of in-between — how to go from the bench to the bedside," she explains. "We at TMC Innovation have been really focusing starting to fill in more of that in between."

Reiser shares more about the state of innovation in health care on the episode, as well as her advice for health tech startups and investors looking to connect. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


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Building Houston

 
 

A Houston startup that created a remote monitoring and care platform has raised millions in financing. Image via michealthcare.com

A virtual health care and analytics provider startup has closed its latest round of funding for a total of $27 million in financing.

Medical Informatics Corp. closed a $17 million series B co-led by Maryland-based Catalio Capital Management and California-based Intel Capital. The financing also includes an additional $10 million in debt led by Catalio through Catalio’s structured equity strategy, according to a news release.

“We are excited to have had this round co-led by Catalio and Intel Capital," says Emma Fauss, CEO and co-founder of MIC, in the release. "Catalio brings significant financial and technical resources, while Intel Capital possesses strong operational and industry experience, and we look forward to continuing to leverage both firms’ expertise as we continue to scale.”

MIC created an FDA-cleared virtual care platform, called Sickbay, that gives health care providers and hospitals away to remotely monitor patients in any setting with vendor-neutral real-time medical device integration, workflow automation and standardization.

“We have seen an increased demand for our solution as our clients face significant staffing challenges and are looking for ways to amplify and empower their workforce," Fauss says in the release. "Some of the largest health care systems in the country are standardizing their infrastructure on our Sickbayplatform while consolidating IT spend."

Other participants in the round included new investors TGH Innoventures, Tampa General Hospital’s innovation center and venture fund, and Austin-based Notley — as well as existing investors San Francisco-based DCVC, the Texas Medical Center, and nCourage, a Houston-based investment group.

As a part of the round, two individuals from Catalio will join the board at MIC. Jonathan Blankfein, principal at Catalio will join the board of directors, Diamantis Xylas, head of research at Catalio, will join as board observer.

“Health care systems’ need for high-caliber, cost-saving, data-driven technology is only going to increase, and MIC’s proprietary platform is perfectly positioned to address some of the most critical clinical challenges that health care organizations face,” says Blankfein in the release. “We look forward to continuing to support MIC’s strong team as it continues to deliver better outcomes for health care organizations and patients alike.”

Amid the pandemic and the rising need for remote care technology, MIC scaled rapidly in the past two years. The company will use the funding to continue fueling its growth, including hiring specialized talent — deep product specialists and client engagement teams — to support long-term strategic partnerships.

“One of the main barriers to advanced analytics in health care is the siloing of data and today there is a significant need for a platform to enable flexible, centralized and remote monitoring at scale and on demand,” says Mark Rostick, vice president and senior managing director at Intel Capital, in the release. “Medical Informatics is setting a new standard of health care by removing these data silos for health care providers of all sizes and transforming the way patients are monitored from hospital to home with real-time AI.”

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