Slyngshot Health Raises Strategic Capital to bring Personalized Medicine Therapy Options to Providers, Pharmacies, and Patients
Personalized Medicine therapy options can drive better outcomes, Slyngshot Health seeks to make these options more accessible through a first-of-its-kind digital network.
CHICAGO – November 1, 2018 – Slyngshot Health, a Chicago based healthcare network that enables the delivery of Personalized Medicine, today announces it has raised a round of strategic funding.
Slyngshot Health is building a secure, nation-wide digital network connecting providers and patients with best-in-class compounding pharmacies to improve patient outcomes. The seed round is led by Prakash Ramani, Managing Director, Head of Healthcare Investment Banking of Loop Capital Markets and other prominent Chicago based investors including Thad Wong and Michael Golden of @Properties. Slyngshot Health will use the investment to expand its network of providers into five major metropolitan markets over the next year as well as officially come out of beta with new to market technology.
“When we are successful in truly providing a robust and safe patient / provider / pharmacy experience, we will have the opportunity to improve the quality of hundreds of thousands of people’s lives”, CEO Badal Shah said in a statement. “We live in a country where we treat for sickness and not wellness, we treat for the masses and not the person. We are making Personal possible.”
Personalized Medicine is a $7 billion industry today and is expected to triple to $21 billion in the next two years. It is also highly fragmented. One-size does not fit all in medicine; therapy options should be tailored to the patient but aren’t. Custom dosage and delivery methods, limitless combinations of FDA approved pharmaceutical ingredients, and access to unavailable medications are simply not readily available. The Slyngshot Health digital network seeks to change this.
“Personalized Medicine and a comprehensive means to enable a sleeping giant of an industry is a strong thesis,” says Loop Capital Managing Director, Prakash Ramani. “Badal Shah has put together one of the most experienced executive teams we’ve seen, with expertise in medicine, compounding pharmacies, healthcare, and technology. It’s a perfect storm of opportunity and we are pleased to be a part of it from inception.”
Slyngshot Health was founded in 2018 by Badal Shah (CEO), Murray Firestone, Ph.D. (Director), Sahar Swidan, PharmD (Director), Randy Fink, MD (Director), and Fred Tanne, JD (Director). Notably, Mr. Shah has successfully built and exited several Chicago-based high-tech firms, most recently Turbo Appeal which was acquired by Paradigm Tax Group in 2017.
About Loop Capital
Loop Capital is a full-service investment bank, brokerage and advisory firm that provides creative capital solutions for corporate, governmental and institutional entities across the globe.
About Slyngshot Health
Slyngshot Health enables the delivery of Personalized Medicine through a first-of-its-kind digital platform connecting medical providers, pharmacies, and patients to improve patient outcomes.
Badal Shah, CEO