It’s like billionaire Mark Cuban is now the E.F. Hutton of healthcare. When he talks, people listen. I might be taking some liberties with the Hutton commercial of the ‘70s and ‘80s, but there is actually some truth to this statement. Maybe not everyone is listening, but certainly they are now paying close attention to the data integration of apps and devices focused on healthcare these days as a result of Cuban’s recent investment.
Those of us who have been covering the mobile market and connected devices space recognize the power of data. We also know that once you combine apps, data, and healthcare you have a winning combination. In fact, at Connected World magazine we believe so much in health and fitness changing our world we even scheduled our own Connected World Conference to be placed in the middle of the Chicago Auto Show in February 2014 in an effort to get to a million people including, consumers, businesses, and investors to see what solutions the market has brought so far.
But like most tech innovators, much of these efforts had fallen on deaf ears, well that is until the NBA’s Dallas Mavericks owner stepped up the foul line and sunk the winning basket and invested in Validic, a company that integrates and manages data flow.
That says to me that Cuban really understands data, apps, connected devices, and the importance of managing and integrating it all together, and yes, everyone should listen when he talks, and follow his lead.
Validic is going places. Not just because Cuban invested in it—that certainly doesn’t hurt, but the company has a vision that will connect personal health data to the healthcare system. But more importantly it has a visionary that still is humble enough to talk to regular journalists like us.
In fact, when Mike Carrozzo talked with CEO Ryan Beckland last week it spoke volumes about a guy who has a vision and is still passionate to talk about it with anyone willing to listen, even though he just closed an investment round of $760,000 led by Cuban. And if he snagged the interest of a tech wizard like Cuban there’s a whole lot more where that came from.
So what are we talking about here? We constantly hear buzz around products like Fitbit, Jawbone, Nike, Garmin, and list goes on, but what Beckland and his crew did is make it simple to provide a single API stream to its customers. Now that’s music to everyone’s ears. That’s why the four P’s, as Beckland calls them, Payers, (insurance agencies), Providers, Pharma companies, and Preventive Wellness companies, are now able to easily access the data from the devices or health-related apps as we result.
What I like most about this story is that big-time investors are back in the market in a really big way after we are all still reeling from the worst economic downturn in history. Folks like Cuban get it. He sees that data collection of remote-patient monitoring and preventative healthcare will actually save millions while in the end making billions through individual mobile apps and devices such as medical tattoos, blood pressure monitors, and even fitness watches, wristbands, and so much more. This is one investor who recognizes that personalized health is the future of healthcare.
While we’ve have known it, since we’ve been covering it, I’m just glad that he is able to step up and support the tech innovators who really deserve investor support. He’s welcome to share his vision with us live on The Peggy Smedley Show anytime he wants. As I see it, if Cuban keeps investing we can only imagine the type of solutions we will see next.