Yosef Safi Harb Presents Happitech at LSI Europe ‘23

Happitech has developed a CE-marked, smartphone-based method for effective remote monitoring of patients.
Yosef Safi Harb
Yosef Safi Harb
Founder & CEO, Happitech



Yosef Safi Harb  0:06  
Good afternoon everybody. My name is Joseph Safi Harp, and I'm the founder and CEO of Happitech. This is Nabil. And for year, nobody could figure out why his heart was racing. And Nabile spent 12 months in and out of the hospital with three different cardiac monitoring devices. The challenge is that detecting heart rhythm disorders can be like finding a needle in a haystack. Patients are often prescribed devices that lasts anywhere from 24 hours up to 30 days. But episodes can occur outside the time of monitoring. In addition, in many parts of the globe, many patients do not have access to adequate care or devices. And as a result of those problems, atrial fibrillation, the most common heart rhythm disorder, it goes undetected in over 30% of patients with huge consequences, hospitalizations, deaths and a huge cost annually. Now, existing hardware solutions are costly and not set up to scale. Because the device can cost anywhere from 100 up to 700 euros. The logistics in sending and receiving device makes it sometimes challenge to have the device available the moment that you need it, as was the case of Nabile, which altogether makes it hard to scale. So what if we could tackle this problem with something that 86% of the world population already has in their pocket. Nabil is my father, and I wanted to solve his problem. So I left my aerospace engineering job from great cardiologist. And we spent six years in clinical studies and regulatory approvals to create a CE mark solution that only uses your smartphone with no additional hardware whatsoever. How does it work? Simply by placing your finger on the camera for 90 seconds. That's it. It's as simple as that. So by doing so we can screen for AFib and monitor with a similar accuracy as a standard of care. How does it work? By placing your finger on camera we detect the tiny color changes that are caused by the pressure increase as your as the blood is pumping and increasing the capillaries. And then our CE approved AI does the rest. Simple as that. Now the beauty of our solution is we're not an app, we integrate into leading remote patient monitoring solutions, making deployment a matter of weeks instead of months. And with that, more importantly, we become seamless part of existing cardiology workflows and unlock large patient populations. So health platforms are different in each country. And they have access to a lot of hospitals. And we work very closely together with some of the leading European remote patient monitoring companies. And we've also signed already US base remote patient monitoring. And together with a joint go to market, we unlock the cardiology patients. And the beauty about that is the medical data can now flow all the way from the app of the patient into the EHR. And that's a big reason why hospitals love working with us. Because it's not a standalone solution. Everything gets into the EHR, allowing to deploy real world patient populations. In addition, we have delivered tangible, measurable results and more importantly on the ROI recently unlocked the reimbursement code that allows physicians to get a revenue of 160 euros per patient per quarter, in addition to showing a 40% reduction in consults. And of course, the cost of our device is is by 95% less than existing. And what's at the end of the day, we can save lives and reduce costs if we detect AFIB earlier, fewer hospitalizations, fewer the emergency department visits and fewer cardiac events. And we're on track to becoming a medical standard. With over 12,000 patients already monitoring clinical studies and hospital deployments across some of the best hospitals. We're the first digital health solution to receive reimbursement, making sure that the hospital remote patient monitoring and the device are able to be reimbursed. We're named at a Dutch guidelines and endorsed by the Dutch Heart Association, working with some of the best hospitals in the world. Now, what's our unique value proposition we can screen any patient anywhere in less than the time I've been presenting, whether you're a four mile hour drive away, or 5000 miles across another continent, because in terms of accessibility and scalability, a smartphone is a great solution. And we work great with single ECGs patches as Happitech allows a diagnostic funnel to happen more effectively. And this is one of the reasons why Happitech was the selected device in 160,000 at risk screening campaign, one of the largest in Europe. And the Happitech will be used to detect at risk heart patients in the community. And this is a research project that has received over 9 million in research funding by some of the biggest names in the Dutch cardiology space, including the Dutch cardiovascular Alliance, the Dutch Heart Association, but also Siemens, Roche and Philips. Now, how do we make money? So very important question. So we've licensed originally our technology to insurance companies and wellness companies, then we moved to licensing our technology to remote patient monitoring. And the unique opportunity here right now is there is a reimbursement code in Netherlands. And so now all parties involved are able to create a positive business case, the hospital, the remote patient monitoring, and of course, our device. We've done this with a team of 15 with deep know how in cardiology and medtech with a world renowned panel of incredible cardiologists, as well as deep experience in a variety of medical devices in the cardiac monitoring space. And we're ready for our next step. So with your help, we're looking for a 2 million investment to achieve three important milestones. The first is get FDA clearance, we have already invested a year into speaking with the FDA pre-sub, lining our clinical study site, and we're ready to go. The second is double our revenues year over year, which we've done also this year. And by utilizing the reimbursement code in Netherlands, we can achieve 50% market share. We're now in 10. We're aiming to be at least in 30 by next year. And the third important point is expand our medical device capabilities. Allow me to elaborate on that. Working beyond afib, we're working to expand our portfolio of cardiac biomarkers. And we have already IRB approved clinical studies in place that are looking at ischemic heart disease or valve and other disease areas. Because our goal at the end is to provide access to cardiac monitoring when you need it. Because 80% of cardiovascular disease is preventable when detected timely and managed properly. So I wasn't able to help my father the first time, but fast forward a few years later, were using Happitech he detected unusually high heart rate of 170 BPM, which prompted the Mercy visits where he was diagnosed and stabilized. And that's the power of Happitech. Cardiac monitoring right in your pocket. Thank you very much.

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