PITTSBURGH, Pa. – April 21, 2016 – Pittsburgh Life Sciences Greenhouse (PLSG), Western Pennsylvania’s only pure life sciences investment firm, announced today that portfolio company Wellbridge Health Inc. has completed a pilot study on its digital health care management solution and its positive impact on high-risk, vulnerable patients. The Company is also following up on investor leads from the 3 Rivers Venture Fair (3RVF), which took place April 5-6 at the David L. Lawrence Convention Center.
Wellbridge Health is a digital health care management company with a goal of reducing unnecessary hospitalizations and avoidable emergency room visits by combining easy-to-use technology and a human touch. The Company recently partnered with Gateway Heath to conduct a pilot study that monitored high-risk Medicaid and Dual-Eligible members with heart failure and other chronic conditions over a six-month period.
To conduct the study, Wellbridge Health leveraged interactive video technology, off-the-shelf devices, and proprietary protocols to address barriers to care and monitor behaviors, as well as clinical information, with a goal of reducing avoidable hospitalizations and emergency room visits. Wellbridge’s analysis of its pilot with Gateway Health showed a 93 percent adherence with daily protocol and a 158 percent return on investment. Due to this success, Gateway Health has selected Wellbridge as a vendor for digital health care management.
“The PLSG has been a tremendous asset to the continued advancement of our company,” said Cindy Zydel, CEO of Wellbridge Health. “We appreciate our strong relationship with their team and the guidance they have provided to help get us where we are today.”
Since Wellbridge Health’s inception, PLSG and its Accelerator Fund have made investments into the promising company. PLSG’s CEO, John W. Manzetti, also serves as Chairman of the Board of Directors of Wellbridge, providing business advice and guidance to the company.
“PLSG is committed to driving innovation forward in Western Pennsylvania through continued support and investments in our portfolio companies and their promising projects,” said John W. Manzetti, president and CEO of PLSG. “Wellbridge Health aligns nicely with PLSG’s mission and direction and we are very pleased to support their commercialization process.”
Three Rivers Venture Fair (3RVR), presented by the Pittsburgh Venture Capital Association, debuted in 2002 with the goal of uniting promising, capital-seeking companies with investors. PLSG and its Accelerator Fund attended to review investment opportunities from more than 150 presenting companies from the region. This year’s event introduced a new setting called “Venture Connection,” where investors hosted tables and were matched with entrepreneurs based on capital needs, industry and other key criteria in a “speed-dating” format. Coming out of the 3RVF, PLSG will be inviting some of the companies from 3RVF to pitch directly to the PLSG Investment Committee, igniting the PLSG due diligence process over the next few weeks.
“We look forward to continue networking with these innovative companies, many of which are already on the path to realize success and we look forward to watching them grow,” said Manzetti.