Life2, Inc., an innovator in healthcare analytics & clinical data services announced today the closing of its $1.5M Series A funding. Morley Device Innovations (MDI) is the sole new investor and Managing Director Donald A. Johnson will join the Board of Directors. The additional funds will be used for sales growth and product development of the company's Length of Stay Optimization Suite. This platform focuses on the myriad financial and operational risks facing all acute care hospitals.
"MDI is experienced in quickly analyzing and validating which medical devices will work and which ones will not work in today's healthcare market. We have applied this same acumen to the Life2 technology base and quickly concluded we wanted to be early investors," said Donny Johnson.
Mr. Johnson continued: "Life2 has developed and deployed innovative and transformative technology that is needed in the healthcare sector today more than ever. The technology calculates on a daily basis which caregiver actions work and which ones do not during a patient's hospital stay. The initial deployment helped reduce avoidable inpatient days at a 376-bed hospital by over 5,000 days in a single year. This was a 27% reduction resulting in a $10M economic impact for the hospital. These are proven, impressive and repeatable results that impressed the MDI team. Hospitals must find ways to improve their financial results while also improving outcomes. The Life2 technology helps on both fronts."
Sam Wilkes, Founder and Chairman of Life2 stated: "We wanted a true partner - not just a venture investor - for our Series A funding. Donny and his team bring a wealth of healthcare experience and industry contacts that will certainly help accelerate our sales growth. We look forward to capitalizing on this opportunity."
Life2's Length of Stay Optimization Suite delivers new information hospitals do not have. It provides a prospective look into the future, a Daily Cycle of new insights: patient based risk stratification, causality determination for selecting actionable interventions and an automated feedback loop for knowing which actions work and which ones do not. The platform provides these insights, enhancing existing management systems via normal hospital workflow. These valuable insights unquestionably impact results.
About Morley Device Innovations: Morley Device Innovations (MDI) is a team of seasoned investors, clinical and regulatory affairs specialists, scientists, researchers and industry veterans. MDI is an affiliate of Morley Research Consortium, an Atlanta, GA-based Contract Research Organization, with offices in Atlanta, Georgia and Redwood City, California (Silicon Valley). MDI invests in early to mid-stage healthcare companies globally to leverage its vast experience of getting products through worldwide regulatory entities. MDI uses the skill sets, experience, and health care industry connectivity of a team uniquely capable of acquiring, refining, and validating medical devices, thereby significantly enhancing the commercial value of its assets. MDI's business model mitigates the variables and risk of traditional venture investing. MDI's global ecosystem of contacts and affiliates allows us to source, analyze, invest and exit in shorter time frames with our own internal team from beginning to end of a product life cycle.
About Life2: Life2 is an innovator in healthcare analytics and clinical data services that has developed a proprietary risk mitigation platform for the Healthcare Industry. The platform focuses on the financial and operational risks facing acute care hospitals and their care continuum partners. By proactively addressing avoidable Lengths of Stay on a daily patient-by-patient basis, the hospital's care teams can positively impact revenue, reimbursements and clinical outcomes. Our platform "sits under" all existing management systems - feeding valuable new information & insights via normal hospital workflow. Please visit http://www.life2inc.com to learn more.