Over the last several years, we have seen the industriousness of many health tech founders applying various innovations to address highly prevalent diseases and conditions such as diabetes, metabolic syndrome, and behavioral health. We wondered what was next, and the answer came back clearly as musculoskeletal or MSK.
125 million Americans struggle with daily musculoskeletal issues which accounts for 10% of total healthcare spending in the United States. MSK is being monitored by anyone overseeing a population (think employer or payer). MSK is accentuated by some interesting tailwinds: we are carrying more weight on our joints today thanks to obesity; we are generally living longer and trying to remain active well into our senior years; we are suffering from poor posture and constant repetitive motions; we want to solve for pain through surgery or pain medication; we have access to better medical imaging and skilled orthopedic surgeons who are ready and willing to treat us. It is this confluence that is pushing MSK up the prevalence ladder.
But how do you even begin to tackle the diversity of MSK which ranges from conditions such as total knee replacement to chronic low back pain, and from services such as inpatient surgery to outpatient physical therapy? It’s great to see a flurry of entrepreneurial activity meeting this challenge head on across an array of markets from group health/medical benefits to disability/workers compensation.
We are excited to collaborate with Manish Shah, co-founder and CEO of PeerWell, leading the company’s $6.5M Series A. PeerWell offers a software-based condition management platform for MSK, addressing both surgery avoidance and surgery optimization.
To learn more, visit PeerWell.co.
With partners like Sedgwick and Healthcare Outcomes Performance Company (CORE Institute), PeerWell is bringing its digital MSK solution to more and more patients, and OMERS Ventures is excited to help Manish accelerate his vision.
-Michael Yang & the OMERS Ventures team