Epsy Isn’t Funded By Venture Capital
Epsy’s growth doesn’t depend on traditional venture capital support. Instead, The company is a part of LivaNova (stock ticker: NASDAQ: LIVN). LivaNova is an international medical device company with $287 million in annual sales in 2019. LivaNova also offers other medical devices, VNS Therapy, to help patients with drug-resistant epilepsy. Their established relationships with healthcare professionals means it has an advantage in distributing its apps.
How The Startup’sApp Helps Manage Seizures
Epsy helps patients and doctors cope with epilepsy. The company’s platform helps patients keep track of their health data so that treatment can be improved. Some users have commented that using the app has helped them fine-tune their medications.
As a business specializing in health data management tools, the app means doctors and patients can make the most of their time together during appointments. Doctors can remotely access Epsy data from their patients with their agreement. As a result, there is less need to spend appointment time on data gathering.
Over Three Million Americans Have Epilepsy
While Epsy is currently limited to the US mobile app stores, it has access to significant business growth opportunities. In Europe, there are more than six million people with epilepsy, according to World Health Organization (WHO) data. In contrast, there are over three million Americans with the condition.
The number of people suffering from the condition only tells part of the story. As a brain disorder, epilepsy can significantly impact a person’s quality of life. According to the CDC, “ Some seizures can look like staring spells. Other seizures can cause a person to collapse, shake, and become unaware of what’s going on around them.” As a result, Epsy can help people track important data to make such seizures less severe.
Epsy Is in a Billion-Dollar Market
In 2019, the epileptic seizures treatment market was estimated to be worth over $1 billion in the United States alone. The epilepsy market value is forecast to grow relatively slowly, at a rate of about 4%, from 2020 to 2030. Most of the market is currently dominated by companies that create treatments and drugs. Epsy offers a complementary solution, focused on health data management for a single condition, rather than directly competing for business with established pharmaceutical firms.
If the company can achieve traction in the epilepsy market, it may expand its business into cardiovascular conditions next. Epsy’s parent company, LivaNova, also offers products for cardio needs such as heart valves and heart-lung machines.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book "Project Managers At Work" shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.