The new technology making shockwaves in the healthcare industry, Mindstrong Health, just announced the news that they were able to raise $14 million to use on their technology. In a report by Bloomberg, the Mindstrong platform is tracks the patterns and use of a smartphone and uses that in comparison to the brain function of the user. This has the potential to completely revolutionize and change the way you use your phone. Instead of just sending text, you could also be detecting cognitive function and brain waves. This technology is being used to advance knowledge in mental health.
Mental health diagnosis is relatively subjective compared to other forms of medical practices. They are taken in clinical settings and rely heavily on the individuals involved. Mindstrong could completely turn the way this is done on its head and make diagnosis and understand on mental health more accurate. The goal is to soon be able to diagnose depression in the same way you would diagnose a broken leg. The results and markers that are taken with your phone are more accurate since they can be captured while you are in your natural environment. This has the potential to greatly improve the lives of those people who suffer from mental illness.
Jim Tananbaum founded Foresite Capital firm in 2010. He is currently their CEO and Managing Director. He lives in the San Francisco Bay area and has made a name for himself through his experience in the field and with his deal with Intarcia Therapeutics. Jim went to Yale, Harvard Medical School, Harvard Business School, and MIT. He earned degrees at all of these schools. Tananbaum has been in the industry for 25 years and has built up a lot of knowledge and expertise during that time period. Jim worked with Prospect Venture Partners II and III, and Sierra Ventures during his time in the investment business.
In addition to his medical knowledge, Jim Tananbaum is an experienced investor and has several calculated investments. In a report by Patient Daily, he is most proud of his collaboration with Amira Pharmaceuticals and Jazz Pharmaceuticals. Jim believes that Mindstrong could be a huge money saving tool for the medical industry since mental health is so closely tied to avoidable trips to the hospital. View his Linked In page for more info.