FOR IMMEDIATE RELEASE – February 17, 2017
Mammoth Health Innovation Inc. of Toronto, Canada (Mammoth) and Launch New York Inc. (Launch NY) of Buffalo, NY today announce the signing of a Letter of Intent (LOI) to create the Launch NY Health IT Fund.
This Fund will be administered by Launch NY to Health IT companies locating in Western New York, for which Mammoth will have assisted in securing a listing on the US General Services Agency (GSA) Schedule 70, providing the necessary capital and services to be able to successfully sell directly to all levels of the US government.
“With Mammoth’s expertise, getting a Health IT company listed on the GSA is now pretty straightforward,” said Dan Wasserman, Founder and CEO of Mammoth. “But a listing is only a ‘seal of approval.’ In fact, a recent Forbes article said that the biggest impediment for small companies being able to tap into the huge US government market is they lack the necessary money and know-how. Our new Fund is aimed at directly addressing this.”
Marnie LaVigne, President & CEO of Launch NY said “Growing a Health IT cluster in Western New York that builds on our cross border relationships is perfectly timed with the rapid growth of our nonprofit seed fund investment activity, which is a cornerstone of our charitable mission in transforming the regional economy.”
Wasserman went on to say, “As originally announced at Canada House in Los Angeles last May, Mammoth still plans to tap into donations from the entertainment industry, and especially the ex-pat community. Launch NY being a 501(c)(3) means we will now have the facility to do precisely that. In addition, Launch NY’s business support services add so much depth to qualified Health IT companies, which significantly enhances their likelihood of success.”
About Mammoth Health Innovation Inc.
Mammoth opens the massive US government market to Health IT companies. The first step is listing these companies on the General Services Agency (GSA) Schedule 70. Our minimum requirements are 2/4/6 – that is; 2 years in business, 4 or more recent references for a Past Performance Evaluation by Open Ratings (a Dun & Bradstreet Company), and a concentration in one or more of the 6 sectors identified in the GSA Fact Sheet (e.g. Electronic health records, Mobile & tele-health, Cloud-based services, Medical sensors, Remote monitoring devices, Assistive technologies). For companies assisted by Mammoth, to be listed on the GSA, Mammoth will provide access to the Launch NY Health IT Fund for financing. In addition, Mammoth will serve interested Health IT companies with professional procurement guidance.
About Launch New York Inc.
The mission of Launch New York Inc. (Launch NY) is to identify, support, and invest in high-growth, high-impact companies and catalyze the entrepreneurial culture in the 27 counties comprising the western half of New York State. Launch NY is a 501(c)(3) nonprofit venture development organization that promotes economic development by connecting startups to unique proof-of-concept capital and high-quality mentoring support through 18 experienced local entrepreneurs-in-residence and a national mentor network of 2,000 industry, business, and investment experts. Launch NY is headquartered in Buffalo and has regional co-location with partner organizations in Binghamton, Ithaca, Rochester and Syracuse, where it coordinates with regional entrepreneurship education and programs. It has served over 600 companies comprising more than 1,500 jobs since starting operations in 2012. For more information, see www.launchny.org
FOR IMMEDIATE RELEASE – November 15, 2016
Toronto ON – Mammoth Health Innovation Inc. is pleased to announce that our Founder & CEO Dan Wasserman will be speaking at the Connected Health’s Cross Border Workshop on December 14, 2016 in Washington, DC.
Dan will be highlighting the exceptional opportunity Health IT companies have this year to leverage the new US General Services Agency (GSA) designation of SIN 132-56. This new ID covers six sub-categories including Electronic health records, Mobile & tele-health, Cloud-based services, Medical sensors, Remote monitoring devices, and Assistive technologies, paving the way for international companies to access the US government healthcare markets.
Under the Cooperative Purchasing program, listed companies can sell into all government procurement levels including State, Local and Tribal governments. In 2017 the GSA forecasts that $31.3 billion will be spent in this sector and Under US law is it expected that $7.2 billion could be placed through small businesses. Moreover, Health IT companies from 124 countries, including Canada, can qualify under the US Trade Agreement Act.
Early adopter Canadian and American Health IT firms can leverage Mammoth’s extensive know-how in dealing with all levels of the US government. Moreover, our depth of hands-on experience extends to navigating the full procurement pathway.
About the Connected Health Conference (November 11-14, 2016):
It is the largest and most diverse gathering of public sector and health and technology industry leaders working at the intersection of innovative product and service development, research, business and policy throughout the world. Building thought leadership across the ecosystem, this year's Conference focuses on an increasingly consumer-centered, technology-enabled and collaborative approach to improving health. Each component -- from keynotes, panel discussions, interactive sessions, roundtables and the dynamic exhibit floor -- focuses on new research and actionable knowledge such as best practices, lessons learned and conclusive case studies.
About Mammoth Health Innovations Inc.
Our Mission is to globally deploy Health IT innovations for better patient outcomes at a reduced cost to deliver those outcomes. Our Vision is to exploit Canadian-led Health IT innovations that address a global aging population faced with reduced available funding.
For more information please contact Mammoth Health Innovations directly:
FOR IMMEDIATE RELEASE – July 21, 2016
In April 2016, Cedars-Sinai Medical Center’s Technology Transfer Office and Mammoth Health Innovations Inc. agreed to a collaboration framework to work together to develop and commercialize new healthcare technologies.
As part of its ongoing efforts to bring the intellectual property and technologies developed by its researchers and clinicians to market, Cedars-Sinai believes that this relationship can support the development and distribution of promising inventions to improve the quality of life for patients around the world.
Cedars-Sinai, located in Los Angeles, California, is a leader in providing high-quality healthcare encompassing primary care, specialized medicine and research. Since 1902, Cedars-Sinai has evolved to meet the needs of one of the most diverse regions in the nation, setting standards in quality and innovative patient care, research, teaching and community service. Today, Cedars-Sinai is known for its national leadership in transforming healthcare for the benefit of patients. It demonstrates a commitment to the community through programs that improve the health of its most vulnerable residents. Cedars-Sinai impacts the future of healthcare by developing new approaches to treatment and educating tomorrow’s health professionals. Cedars-Sinai’s Technology Transfer Office supports these activities by identifying, protecting and supporting the commercialization of discoveries and technologies developed at Cedars-Sinai.
Mammoth Health Innovation Inc., located in Canada, is building a donor-based fund mandated to accelerate the collaborative commercialization of bi-national Health IT (Information Technology) innovations. In addition to capital, Mammoth brings together the four other necessary elements to successfully commercialize; a proven model, relationships with large global entities, strategic partnerships with U.S. innovation centers, and hands-on project management with experienced expert advisors.
FOR IMMEDIATE RELEASE – July 5, 2016
Thornhill, Ontario – Recent announcements by the Ontario Health Technologies Fund (HTF) and the US General Services Agency (GSA) create huge opportunities for Canadian Health IT innovators.
Dan Wasserman, Mammoth’s Founder & CEO today said, “in addition to our fund, there are immediate services Mammoth can provide Health IT companies like a Health Economic and Commercial Impact Study (HECIS).”
“Typically American innovators undertake these concurrent with filing provisional patents, or entering the regulatory pathway. However, Canadians tend to ignore their importance until raising a Series A financing, often wondering why their valuations are so much less than their American counterparts.”
Mid-May the US General Services Agency (GSA) announced a unique Health IT code for the following 6 sub-categories:
The HECIS provides a detailed rationalization to demonstrate ‘project expertise,’ which the GSA’s is substituting for the normal 2-years in business rule. They’re also forecasting $31.3 billion for Health IT spending in 2017. Applying the US SBA small company purchasing requirement of 23% creates a potential $7.2 billion procurement opportunity. Since Canadian companies can be listed on the GSA, Mammoth lined up qualified universities to provide the HECIS and non-dilutive funding sources to reduce the out-of-pocket costs.”
“Based on my own experience after working for 11 years in DC, eight of which dealing with US government procurement, at last Canadian Health IT clients will be on an equal footing with my colleagues who handle defense and aerospace. This is a BIG thing!”
Additionally, the Health Technologies Fund (HTF) was just launched by the Ontario Chief Health Innovation Strategist (OCHIS). It too incorporates a requirement to demonstrate “economic evidence of value to the health care system.”
Two past examples that predate Mammoth show where a HECIS has been impactful.
On returning to Canada, Wasserman was engaged by Fio Corporation. They had developed a point-of-care rapid test for malaria and Ebola. The level of funding they were seeking from the Bill and Melinda Gates Foundation, the Paul G. Allen Family Foundation, the World Health Organization, etc., made this study a necessity. Last year their Deki® device helped stop the spread of Ebola!”
Another is Patient Safety Technologies, acquired by Stryker in 2014 for US$120 million (over 6X sales). Founder Brian Stewart presented an enormous amount of data on the problem they solved at the 2015 OCTANe MDIF. When I later asked him about this, he replied that they used a local university and the HECIS was essential for the final valuation.
Wasserman concluded, “Mammoth’s broad expertise extends well beyond the new opportunities provided by the HTF and GSA announcements. That’s why we need to limit our first cohort and I encourage anyone who is interested to register quickly.”
About Mammoth: A binational donor-based fund to accelerate global commercialization of healthcare innovations. Its five strengths are: capital, a proven model, relationships with large global entities, international health partners, and professional project management.
CONTACT: Dan Wasserman, 416-835-3500 or [email protected]