BALTIMORE--(BUSINESS WIRE)--WellDoc®, a healthcare company that develops technology solutions to improve chronic disease management outcomes and reduce healthcare costs, today announced that they are one of only 15 innovative companies selected by NASDAQ and Consensus Advisors to participate in The Next Great Consumer Brands Showcase on March 17, 2011, at the NASDAQ OMX MarketSite Tower in New York City’s Times Square.
Founded in 2005 by an endocrinologist, WellDoc initially focused on developing solutions to support diabetes management. Since its inception, the company has achieved considerable milestones, which led NASDAQ to recognize the company for its promise in helping patients and physicians manage chronic disease.
“We are honored to have been selected by NASDAQ and Consensus Advisors as one of today’s most exciting consumer brands and to showcase our proprietary technology to such a prestigious group of fellow innovators and attendees,” said Jon Brilliant, chief financial officer. “WellDoc’s clinically proven mHealth solution has positioned us as leaders in this nascent market. We appreciate being recognized by NASDAQ and Consensus Advisors for our hard work and commitment to enable patients and healthcare providers to efficiently extend care beyond the walls of the physician office.”
“Lessening the demand for health care is a vital priority for our society. mHealth solutions are one of the cornerstones of this effort, and are poised for rapid growth as they have the potential to reduce medical costs and errors regardless of race, age, or socioeconomic status,” said David Loucks, chairman and chief executive officer of Healthios, a specialized healthcare advisory firm. “WellDoc not only has proven that their diabetes solution can accomplish this goal, they are well on their way to providing effective mHealth solutions for several other disease states.”
In July 2010, the company’s flagship product, the DiabetesManager® System received United States Food and Drug Administration (FDA) 510(k) clearance. Now, WellDoc is the only mHealth company to receive FDA clearance for automated, real-time clinical and behavioral coaching based on patient data and to conduct randomized, controlled clinical trials for their solution, which helps patients and healthcare providers coordinate diabetes care for adult patients with type 2 diabetes, propel self-management, and achieve long-term adherence.
In recent months, WellDoc has announced collaborations with large-scale commercial companies including AT&T, who is currently marketing and selling the AT&T-WellDoc mHealth Solution™ across the healthcare ecosystem, including to payors, self-insured employers and disease management organizations. Under this collaboration, it was recently announced that Health Care Services Corporation (HCSC), the fourth largest health insurer in the United States and an operator of Blue Cross Blue Shield plans in several states, will initiate a DiabetesManager program as part of the AT&T mHealth Solution. In late 2010, WellDoc became the first mHealth solution to announce an integration with a leading electronic health records (EHR) system, allowing for streamlined and enhanced patient care by combining a best-in-class patient coaching platform and clinical decision support with the workflow efficiency of an EHR system. WellDoc recently expanded its mHealth offerings with the acquisition of Oncology Care Home Health, LLC. WellDoc’s decision to grow into this disease state will allow for cancer patients, providers, and their caregivers to significantly benefit from the coaching and support tools WellDoc offers.
In December 2010, WellDoc’s DiabetesManager was selected by PC World as one of their “15 Mobile Apps That Will Matter in 2011.”
About WellDoc
WellDoc®, a healthcare company that develops technology solutions to improve chronic disease management outcomes and reduce healthcare costs, is focused on simplifying the way chronic diseases are managed through a collaborative, life-changing approach that breaks down the barriers of engagement and adherence by providing patients and their healthcare providers with real-time, actionable information. WellDoc has developed an industry-leading, technology-based solution that helps people with chronic diseases better manage their conditions. For more information, visit www.welldoc.com.
About Consensus Advisors
Consensus Advisors is a boutique investment banking and financial advisory firm based in New York and Boston. Consensus focuses on complex transactions for companies undergoing significant transformation of their business models. Consensus professionals have decades of relevant industry experience representing and advising companies, entrepreneurs, investors, creditors and lenders in financial and brand equity transactions. They have extensive relationships with the multiple resources necessary to help companies at every stage of development, including commercial banks, private equity, venture capital and hedge funds, factors, investors in distressed assets, and real property and equipment lessors. www.consensusadvisors.com
About the NASDAQ OMX Group, Inc.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/nasdaqomx) and Twitter (http://www.twitter.com/nasdaqomx).