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Galen Growth Asia HealthTech CEO Summit 2016 Report

Executive Summary

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GALEN GROWTH ASIA HEALTHTECH CEO SUMMIT 2016 REPORT – EXECUTIVE SUMMARY

The Galen Growth Asia HealthTech CEO Summit 2016 report offers its readers rich insights and points of view as seen through the eyes of the Asia HealthTech founders and CEOs as well as other ecosystem operators who are all leading the transformation of healthcare from China, to India all the way to Indonesia bringing together the perspective of HealthTech CEOs from 12 countries in Asia.

“Understand why there are not as many entrepreneurs tackling HealthTech as we see in the United States and yet again, why there is such a tremendous opportunity to take this leap of faith.” DANNY YEUNG, CEO of Prenetics – Hong Kong’s serial entrepreneur

Bringing together in one report, a gloves-off, open discussion of savvy healthcare entrepreneurs having the unparalleled opportunity to meet in one place, to discuss, and deliberate some of the shared challenges in bringing products-to-market, especially in a region where advanced healthcare infrastructures in high-GDP nations exist alongside developing markets with remarkably different needs. The report unveils their points of views on the vast landscape, the opportunities and the challenges: No theory, only real-world application.

In the HealthTech CEO Summit Report, you will learn from the experiences of HealthTech entrepreneurs across Asia. The report features Q&A sessions with start-up founders and CEOs, who discuss the demand drivers for their products and share their thoughts on the importance of the HealthTech ecosystem to the future of healthcare in the region. The Report addresses, through shared insights, key topics such as scaling operations into new territories, adhering to the government and regulations, and enabling IP protection for certain types of technologies amongst many others.

This report will also help you understand their funding, their business models and strategies. The HealthTech CEO Summit Report also provides a quantitative and qualitative preview of the HealthTech landscape in region. In addition to showcasing the top 15 HealthTech start-up funding rounds in Asia over the past two years, the Summit Report offers a comprehensive review of the Summit’s featured start-ups, which illustrate the evolution of Asia HealthTech solutions and founding teams. The report also provides useful category and geographical maps for HealthTech in Asia.

For more in depth insights into HealthTech in Asia, we recommend reading our complete report.

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ABOUT GALEN GROWTH ASIA’S HEALTHTECH CEO SUMMIT REPORT

WHAT WE DO

Galen Growth Asia exists to act as a catalyst at the intersection of the healthcare and technology convergence to enable Asia’s HealthTech ecosystem. We are the first and only HealthTech focused organization in Asia.

Our mission is to develop a sustainable and vibrant HealthTech scene across Asia – fostered through collaboration between corporations, investors, new ventures, hospitals, governments and other stakeholders. The Inaugural HealthTech CEO Summit on December 9th 2016 marked the beginning of Asia’s HealthTech ecosystem. The Summit bridged leading HealthTech CEOs across Asia with over 150 key healthcare influencers in the corporate, government, and private sectors of investments and care delivery. Featured start-ups had a total combined funding of over USD 200 million, and presented solutions for a variety of healthcare challenges in Asia.

The need for healthcare in Asia is rising rapidly. At 3.5 billion people, it is home to 50% of the global population and over $1.7 trillion in healthcare spend. This projected spend will continue to increase, led by several demand drivers: 1) Increase in prevalence of chronic diseases and growing disease burden from changing lifestyles and ageing, 2) increasing affordability and awareness of the emerging middle class, 3) increasing role of the government in the provision of healthcare, and 4) recognition that a healthy society is the key to economic growth.

Just as Industry 4.0 is impacting all sectors of industry, healthcare is being transformed by global rapid technological changes: rapid economic development and demographic changes, increasing affluence and demand for better healthcare services, increase in ageing and comorbid populations, just to mention a few.

GGA believes that HealthTech will play a central role in addressing these demand drivers and thus significantly improving the standard of healthcare in Asia.

Great ideas will realize their potential through a great network: by catalyzing the formation of such a HealthTech network comprising start-ups, corporations, research institutes, healthcare delivery systems and clinicians, investors, government agencies, regulatory bodies and media, we aim to break down the silos and create an effective ecosystem. Put simply, our goal is to connect.

Through our focus on enabling both social value and investing opportunities, we mobilize thought leaders in healthcare and technology, support innovators in HealthTech to inform their solutions and business models, and provide valuable insights for market access, business development and investment opportunities.

We would not exist without our sponsors, partners and community, who support our rapid growth and are helping us shape HealthTech’s ecosystem in Asia.

Galen Growth Asia is Asia’s HealthTech Connector!

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GALEN GROWTH ASIA HEALTHTECH CEO SUMMIT 2016 REPORT – EXECUTIVE SUMMARY

Building a better, faster and stronger Asia HealthTech ecosystem We are at the inflexion point of a major paradigm shift in healthcare where technology is forcing a rethink from laboratory to patient. HealthTech is transforming healthcare driven by the convergence of technology and healthcare and creating enormous opportunities to significantly improve the standard of care with substantial societal benefit. We, at Galen Growth Asia, believe that HealthTech represents an unprecedented opportunity to address Asia’s growing healthcare challenges. Harnessing this promise will require better and stronger collaboration between the ecosystem’s key stakeholder groups. Galen Growth Asia has given itself the mission of being the catalyst in the sector, to build a sustainable ecosystem across Asia. On 9th December 2016, Galen Growth Asia hosted the first-of-a-kind Asia HealthTech CEO Summit, which gathered 30 of Asia’s most promising HealthTech entrepreneurs to debate the importance of technology in healthcare innovation. In addition to entrepreneurs, the event assembled over 150 business leaders in the healthcare sector representing investors, corporates, clinicians, and many other key stakeholders in Asia-Pacific’s ecosystem.  We deliberately built the CEO Summit’s program to foster debate on building a better, faster and stronger Asia HealthTech ecosystem through interaction and iteration. Given the overwhelming positive feedback, we intend the Asia HealthTech CEO Summit to be an annual event.  We thank the CEO Summit sponsors: Mercer Marsh Benefits and Holmusk as well as our founding sponsors: Takeda, Zuellig, OWC, Lumen Lab and Medtronic, for their faith in and support of the Galen Growth Asia mission.

Julien de Salaberry Managing Director/Co-founderGalen Growth Asia

We, at Galen Growth Asia, believe that HealthTech represents an unprecedented opportunity to address Asia’s growing healthcare challenges.Julien de Salaberry Managing Director/Co-founder, Galen Growth Asia

Our report includes• Insights and points of view of the Asia HealthTech founders and

CEOs representing 12 countries in Asia• Profiles of HealthTech start-ups in the ecosystem, which disclose

founders and CEOs bios, product information, latest disclosed investment rounds, partnerships, and media involvement

• Q&A sessions with start-up founders and CEOs, who discuss the demand drivers for their products and share their thoughts on the importance of the HealthTech

• A comprehensive outline of the CEO Summit, including an evaluation of the participants, notes of each session, and the CEO’s concluding statements

• A snapshot of Asia’s top 15 funding rounds• Snapshots of the power of the Galen Growth Asia database

analytics e.g. Category and geographical maps for HealthTech in Asia

• Evolution of Asia HealthTech solutions and founding teamsAnd much more…

What to expect• Asia’s first HealthTech market and industry report• A gloves- off, open discussion of savvy healthcare entrepreneurs’

points of view• Detailed profiles of the 30 most prominent HealthTech start-ups

in Asia• HealthTech trends in Asia exemplified through graphs and visuals• HealthTech market analyses of Singapore, Taiwan, Hong Kong,

China, and South Korea conducted by HealthTech CEOs• Market insider information on the potential of HealthTech in Asia

Who should read this report• Venture capital & private equity firms• Insurance• Healthcare corporations• HealthTech start-ups• Advisory firms and consultants• Tech firms

HOW IS OUR REPORT DIFFERENT?

to purchase Galen Growth Asia’s HealthTech CEO Summit digital report.

CLICK HERE

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GALEN GROWTH ASIA HEALTHTECH CEO SUMMIT 2016 REPORT – EXECUTIVE SUMMARY

Jana Care

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SUMMIT GUEST

“The largest deals in size and quantum in HealthTech are happening in Asia.”Nawal Roy – Founder & CEO of Holmusk

Having Asia’s HealthTech leaders in one place at Galen Growth Asia first-of-a-kind HealthTech CEO Summit, the following most relevant keywords at the Summit were identified by themes around the participants discussion on the importance of technology in healthcare innovation as an unprecedented opportunity to address Asia’s healthcare challenges as well as helping to empower and innovate APAC’s healthcare systems with HealthTech solutions.

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GALEN GROWTH ASIA HEALTHTECH CEO SUMMIT 2016 REPORT – EXECUTIVE SUMMARY

FoundersScott Montgomery (CEO)Scott holds a Bachelor of Physical Education. Previously worked as Director and Operations Manager at Onsite Health Solutions. Scott has strong Management and Leadership skills.

Jeames GillettJeames holds a Bachelor of Science in Applied Sciences. Previously been working for as Manager at Vitality Works and in various Management positions at Onsite Health Solutions. Jaemes shows strong physiological skills.

Globetrekker Challenge is the B2B wearable solution for employee health analytics. An innovative workplace team activity challenge engages employees on a highly customized and gamified experience. Select your device, select your start date, select your duration and also your theme. Whether that is exploring a geographical journey somewhere in the world, educating employees on the fundamentals of stress & resiliency or creating your very own company specific challenge, Globetrekker Challenge is must for any wellness program.

Founded 2013

Industry Healthcare Platform

Product Device agnostic; Mental wellness

program, HR data analytics

Team Size 11-50

Funding USD 430k Seed (2015)

USD 150k Seed (2014)

Partnerships Leo Tech

Website globetrekkerchallenge.com

Address 8 Eu Tong Sen St

Singapore 059818

Media

• http://intranet.ecu.edu.au/staff/centres/human-resources-service/our-services/

work-health-safety-and-wellness/health-and-wellness-program/globetrekker

• http://mikeadamscg.com/interview-with-scott-montgomery-director-of-globe-

trekker-and-serial-entrepreneur/

Inspire the world to use wellness as medicine and prevent lifestyle diseases.

The concentrated meeting of HealthTech leaders in a closed forum to encourage ‘gloves off’ open discussions.

Immature. Asia does not have the confidence (yet) that technology can enhance healthcare for everyone, it still is hesitant, it will try and replace Drs.

GP’s do not prescribe lifestyle behaviors with the same power they prescribe pharmaceuticals.

Facilitating health tech leaders discussion (summit), collaboration (networks) and start up funding (introducing likeminded investors). 

What is your company’s mission statement?

What motivates you about the GGA HealthTech Summit?

How do you see the Asia HealthTech landscape evolving?

What problem in the system constrains your mission the most?

How do you see Galen Growth Asia’s role in shaping the HealthTech landscape?

Snapshot Questions

HealthTech CEO Startups represented 10 distinct HealthTech categories. Clustering related categories reveals a nearly even distribution and reflects startups focus on patient flow inefficiencies within their ecosystem.

Note: Percentages were calculated from 31 attending CEOs at Galen Growth Asia’s HealthTech CEO Summit 2016

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19

7

13

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HealthTech Categories & Share

%

Remote Monitoring

Telehealth

Medical Big Data

Electronic Medical Record

Predictive Analytics

Health Services Search

Patient Engagement

Doctor Networks

Genomics

Healthcare Platform

Health Apps

Medical Devices

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Startups, by year of incorporation, were evenly distributed between 2011 and 2016 with the years 2013 and 2015 witnessing strongest growth which is reflective of the status of overall Asia HealthTech ecosystem.

Before2010

2011

13%

13%

2012

2013

10%

22%

2014

2016

2015

10%

10%22%

0 5 10 15 20 25

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GALEN GROWTH ASIA HEALTHTECH CEO SUMMIT 2016 REPORT – EXECUTIVE SUMMARY

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GALEN GROWTH ASIA HEALTHTECH CEO SUMMIT 2016 REPORT – EXECUTIVE SUMMARY

To celebrate the launch of our first Galen Growth Asia HealthTech CEO Summit Report, we are pleased to offer a special discount of 50% to our readers for the next 30 days by using the following Promotional code

Never miss an update! Subscribe to Galen Growth Asia’s HealthTech Quartely Newsletter Contact us info@galengrowth.asia www.galengrowth.asia

TABLE OF CONTENT

//Section A Foreword

of Asia’s Key Markets

//Section B Summit Guest

//Section F Acknowledgment

//Section C An Exclusive

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09

91

Summary

Summary

//Section D GGA HealthTech67

//Section E GGA Asia HealthTech85

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Galen Growth Asia’s HealthTech CEO report

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CEOSUM16

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DISCLAIMER: © 2017 by Galen Growth Asia Pte Ltd. All rights reserved. Galen Growth Asia hereby grants user a personal, non-exclusive, non-refundable, non-transferable license to use the Report for research purposes only. Galen Growth Asia retains exclusive and sole ownership of all its Reports. When quoting from this report, please cite Galen Growth Asia. Information contained in this publication is derived from carefully selected sources we believe to be reliable. Galen Growth Asia, its employees, affiliates, agents, and licensors do not warrant the accuracy, completeness, non-infringement, merchantability, or fitness for a particular purpose of this report. Nothing in this report constitutes or should be taken as investment advice. For information about this document, please contact us via email at: info@galengrowth.asia