June 4, 2024: Testing 1, 2, 3... 🎤

Can anybody hear me? We have a new company to discuss...


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Testing, Testing, 1, 2, 3…

Today, we meet a company that’s doing big things in the healthcare space when it comes to lab testing.

You’re going to want to sit down for this one…

Today we introduce you to Vital Biosciences and discover everything they are doing for the healthcare space.

What is Vital Biosciences?

Vital is reimagining lab testing to enable radically accessible care. We're developing the VitalOne, a compact blood analysis device designed with the latest advances in robotics, biochemistry, computer vision, and microfluidics to deliver lab-grade results in the doctor’s office in minutes.

Wait a minute…this sounds a bit familliar…

Unlike Theranos (and Elizabeth Holmes failed startup), Vital has developed a compact device designed to swiftly process over 50 lab-grade tests in primary care settings such as clinics, pharmacies, home care locations, and more.

Unlike tests that need just a pinprick amount of blood, Vital's tests require 600 microlitres, or 0.6 mL, which is significantly more than the 35 microlitres typically obtained from a finger prick.

Vital employs cutting-edge technologies in microfluidics, computer vision, biochemistry, and robotics to simultaneously conduct three types of lab tests: hematology, clinical chemistry, and immunoassays.

Theranos once claimed it could revolutionize blood testing by using just a single drop of blood to perform hundreds of lab-grade tests with a small device. However, its founder, Elizabeth Holmes, was later convicted of fraud and conspiracy and is now serving an 11-year prison sentence.

In the wake of Theranos' collapse, numerous companies in Canada have emerged, aiming to deliver on the promises that the notorious Silicon Valley startup failed to keep.

How has it been received by the market?

Their market reception has been exceptional, having secured over $110M USD in Letters of Intent (LOIs) from prominent care providers such as Carbon Health, Advent, and Geisinger.

Their success stems from three key factors:

  • Firstly, The VitalOne delivers a radically better patient experience by enabling real-time medicine, eliminating sources of adherence drop-off, gaps in care, and follow-up lapses.

  • Secondly, it unlocks testing revenues, empowering providers to capture testing revenues and drive 2x the gross margin for ~50% of their visits.

  • Lastly, The VitalOne increases the scope of care, enabling providers to see higher acuity patients, drive higher patient volume, and increase non-lab billing.

Want to join the team?

They’re hiring! Find them at https://vitalbio.com/careers


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