It is no secret that the US healthcare system is strained. It holds the designation of being expensive in the world while having the worst outcomes among developed countries. Mend is a company proving it does not have to be this way. The company aims to enhance human health outcomes and reduce the cost burden imposed by incumbent operators through clinically based nutrition solutions and a digital platform. I am excited to announce S2G’s investment in mend and look forward to working with them to transform healthcare from within.
Understanding Today’s Healthcare System
US healthcare expenditures exceed $4 trillion, or $12,914 per person annually, more than any other nation in the world. But despite this higher spending, the US has not achieved better health outcomes and has conversely ranked lowest across measures of quality of care while continuing to have alarming rates of disease and illness. The healthcare system also needs to produce better outcomes for caregivers, with nearly 70 percent of physicians and clinical staff reporting burnout, leading to chronic staffing shortages.
In orthopedics, nearly 40 percent of surgeons report seeing more than 50 patients daily. Increased life expectancy has led to growth in the geriatric population, and with age comes an increased risk of osteoporosis, osteoarthritis, and several other joint-related conditions.
Imagine you are a 70-year-old patient waiting to undergo hip replacement surgery. In today’s medical systems, physicians have limited tools to assist patients before surgery and monitor and manage risks after surgery, even though the before and after care substantially impacts surgery and recovery outcomes. Across the board, there is a tremendous opportunity for improving healing times through supplements and comprehensive, tailored care.
Additionally, in areas such as athletics where there is a high rate of injury, immense value is placed on better preventative and post-injury care. For professional athletes, injury could spell the end of a career and products that can improve outcomes are highly sought after.
A Multipronged Approach
Mend’s business is to help heal patients around the time of surgery and then in perpetuity. It starts before an operation when mend begins working with patients to provide nutritional products, wearable devices, and an application to help patients become healthier for surgery and then recover and return to function more quickly. After a successful journey, mend aims to transition patients to healthier habits by offering a range of nutritional products to improve daily life and reduce the risk factors associated with chronic disease.
The patient’s journey is enabled through a range of evidence-based nutritional products including Joint Replacement, Control: Glucose, Perform: Daily, Inflammation, Repair, and Regenerate. These products are combined with a digital care companion that includes digitally-enabled coaching, support, wearable devices, and integration with healthcare partners. Together, mend provides this offering to private practices and hospital systems as Upgraid by mend.
In addition to comprehensive patient support, mend offers robust data and insights to clinicians, empowering them to provide holistic, coordinated patient care. Data can also be used for predictive capabilities and identifying system inefficiencies. In these ways, mend’s platform enables the switch from fee-for-service care to value-based care and can help catalyze a larger-scale industry shift towards the value-based care model.
Mend is here to work with the healthcare industry to improve the quality of care while reducing costs. S2G Ventures led the recent $15M Series A round with other backers, including iSelect Fund, Touchdown Ventures, Colorcon Ventures, Keen Growth Capital, Genhenn Capital, and Alumni Ventures. The funding will allow mend to execute existing contracts, scale its program nationwide, reach more orthopedic patients, and explore other areas to help patients heal.
We look forward to working with mend to accelerate the improvement of human health outcomes and the radical transformation of the existing healthcare system.
