Analyte Health Offers Greater Access to Expert Care Through New Online Medical Service
Company Has Raised $22 Million To Date Expanding Reach of Medical Services to Undertreated Patient Populations
CHICAGO, July 25, 2012 /PRNewswire/ -- Analyte Health, Inc., a privately held online medical services company offering specialty care, counseling and convenience not available in a traditional primary care setting, has introduced a new model that will expand access to healthcare and encourage early diagnosis and treatment among patients who might otherwise be underserved.
The company's first online medical service focuses on testing, treating and counseling individuals at risk for infectious disease, specifically the large and undertreated sexual transmitted disease (STD) patient population. Customers can access the services via web, phone and mobile devices through SexualHealth.com and STDTestExpress.com.
Studies of the more than 70,000 patient encounters tested and treated to date through Analyte Health reveal that the service proves to be more cost-effective, timely and inclusive than established medical options. For example, Analyte Health has helped to identify and treat nearly 10 times as many chlamydia cases in the 18-24 age group since October 2009 as would be expected from trend data gathered by the Centers for Disease Control and Prevention in recent years.1
"Our statistical analysis reveals that we are reaching more high-risk STD populations than traditional testing venues through our first product offering, confirming that this is a model ideally suited to reaching patient populations who may otherwise go undiagnosed and untreated," said Lisa Oldson, M.D., Medical Director at Analyte Health. "This is good news for patients, public health, and insurance companies seeking to better control healthcare costs."
The company has raised $22 million to date in venture capital funding through investors including, Apex Venture Partners, Mohr Davidow Ventures and New World Ventures.
"We have built a disruptive healthcare business that dramatically improves the patient experience on several levels," said Sridhar Murthy, Chief Executive Officer of Analyte Health. "Our business is designed to reduce obstacles to diagnostic testing using the latest online technologies. Our patient satisfaction data indicates we are succeeding where traditional models often fail. Our model will become increasingly valuable as the recently upheld Affordable Care Act puts more decision-making control and financial responsibility in patients' hands."
1 Between October 2009 and April 2012, 11.9% of patients aged 18 – 24 testing through Analyte Health tested positive for Chlamydia; CDC statistics report that between 1996 and 2009, 1.54% of the same group tested positive for Chlamydia.
About Analyte Health, Inc.
Analyte Health, Inc. is an innovative healthcare company based in Chicago, IL, that uses technology to help people gain greater access to expert medical care and information. While focusing on specific medical conditions, we deliver specialty care, counseling and convenience not available in a traditional primary care setting. Analyte Health offers these individuals access via the web, mobile devices and telephone to a dedicated national team of doctors, nurses and health experts as well as more than 4,000 partner testing centers. Through the company's first virtual medical condition focused on sexually transmitted diseases, more than 70,000 patient encounters to date, patients have trusted Analyte Health to deliver stress-free and convenient STD testing and care. More information about the company is available at www.AnalyteHealth.com.
Analyte Health, Inc. ("Analyte") is a privately held company. This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits to consumers from using Analyte's services. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of risks and uncertainties, including, among other things, the potential impact of regulatory and third party payor developments in the field of telehealth and STD testing, general business and economic conditions, and costs or delays in obtaining or maintaining regulatory approvals and licenses. Any forward-looking statements in this release are based on limited information currently available to Analyte, which is subject to change, and Analyte will not necessarily update the information.
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