Healthcare and Blockchain Startup Patientory Partners with WIVA for Capital

On December 15, Patientory, Inc., a healthcare data startup based in Atlanta, Georgia, has announced a partnership with students from the Environmental, Social, and Governance (ESG) Initiative’s Wharton Impact Venture Associates (WIVA) to collaborate on capital fundraising efforts.

The WIVA team is dedicated to investing exclusively through WeFunder, a crowdfunding platform where Patientory has successfully reached its fundraising goal of $50,000. WeFunder allows non-accredited investors to support early-stage startups, with contributions starting at just $100.

Investors participating in this initiative will do so via a Simple Agreement for Future Equity (SAFE), which grants them the right to acquire equity in the company in future financing rounds.

WIVA's Role and Healthcare Challenges

WIVA students have been instrumental in connecting Patientory with WeFunder, as they explore significant challenges within the healthcare industry, particularly those related to fragmented data. The National Association of Chronic Disease Directors reports that approximately 40% of American adults live with chronic illnesses, which often requires interactions with various parts of the U.S. healthcare system. This situation results in healthcare data being scattered across multiple systems, making efficient data sharing difficult. Currently, around 80% of healthcare data remains inaccessible, which negatively impacts the quality of patient care.

Patientory's Blockchain and AI Solutions

To tackle these data accessibility issues, Patientory has developed an innovative healthcare AI and data platform powered by blockchain technology. This platform aims to empower patients by giving them control over their health information.

Patientory's approach includes two key solutions:

• Patientory Consumer Wallet: A secure platform for patients to store, share, and even monetize their health data.

• Neith Enterprise Dashboard: An analytics portal designed for healthcare stakeholders to extract insights from shared and de-identified consumer health data on the Patientory blockchain network.

By offering a secure and user-friendly platform, Patientory utilizes AI to provide personalized health recommendations, helping individuals improve their well-being and connect with appropriate clinical trials and affordable medications.

WIVA's Educational Experience

Talia Cohen, a WIVA student from the class of W’24, highlighted Patientory's potential to enhance healthcare outcomes and positively impact patients' lives. Cohen's team was particularly impressed by Patientory's financial sustainability, noting that the company has over 45,000 subscribers and has secured more than $4 million in pharmaceutical clinical trial contracts.

Cohen stated:

“Having grown up with two parents in healthcare, I understand the importance of healthcare data and its impact on patients' lives. Patientory’s commitment to empowering patients with control over their medical data and facilitating secure exchanges among healthcare stakeholders is truly impressive.”

WIVA provides students with hands-on experience in impact investing, guiding them in identifying startups with the potential for significant societal impact. This educational journey includes conducting comprehensive financial and impact analyses, interviewing founders, and connecting startups with potential investors.

FAQ: Patientory and WIVA Partnership

Q1: What is Patientory?
A1: Patientory, Inc. is a healthcare data startup based in Atlanta, Georgia, focused on improving healthcare data accessibility and empowering patients through innovative technology, including blockchain and AI solutions.

Q2: What is WIVA?
A2: The Wharton Impact Venture Associates (WIVA) is a student-led initiative associated with the Environmental, Social, and Governance (ESG) Initiative at the Wharton School. It focuses on impact investing and supports startups that aim to create positive societal change.

Q3: What is the purpose of the partnership between Patientory and WIVA?
A3: The partnership aims to collaborate on capital fundraising efforts, leveraging WIVA's resources and connections to help Patientory raise funds for its operations and projects.

Q4: How much capital is Patientory aiming to raise?
A4: Patientory has set a fundraising goal of $50,000 through the WeFunder crowdfunding platform.

Q5: What is WeFunder?
A5: WeFunder is a crowdfunding platform that allows non-accredited investors to support early-stage startups. It provides an opportunity for individuals to invest in companies with contributions starting at just $100.

Q6: How can investors participate in Patientory's fundraising?
A6: Investors can participate by contributing through WeFunder, using a Simple Agreement for Future Equity (SAFE), which gives them the right to acquire equity in the company during future financing rounds.

Q7: What challenges in healthcare does Patientory aim to address?
A7: Patientory seeks to tackle issues related to fragmented healthcare data, which affects patient care quality. Approximately 80% of healthcare data is currently inaccessible, hindering effective data sharing among healthcare providers.

Q8: What solutions does Patientory offer?
A8: Patientory provides two main solutions:

• Patientory Consumer Wallet: A secure platform for patients to store, share, and monetize their health data.
• Neith Enterprise Dashboard: An analytics portal for healthcare stakeholders to gain insights from shared and de-identified consumer health data on the Patientory blockchain network.

Q9: How does Patientory enhance patient care?
A9: By utilizing AI and blockchain technology, Patientory empowers patients to take control of their health information and provides personalized health recommendations, connecting them with clinical trials and affordable medications.

Q10: What educational benefits do WIVA students gain from this partnership?
A10: WIVA students gain hands-on experience in impact investing, learning to identify startups with significant societal impact, conducting financial and impact analyses, interviewing founders, and connecting startups with potential investors.