rHEALTH

A Space-Age Medical Device

Company Information

Website:

https://www.rhealth.com/

Sector:

Medical Devices & Equipment

Location:

Bedford, MA

Memory foam, baby formula, cordless drills — all three innovations were originally developed for NASA, and eventually made billions of dollars here on Earth.

A new type of blood-testing platform created by a startup called rHEALTH may be the next winner on this list.

This company’s platform was originally designed for astronauts, who needed a reliable way to monitor their health while spending months, or even years, on missions in outer space. They needed a way to analyze their blood to check for deficiencies or diseases in a place far, far away from any hospital or lab.

So NASA called a tiny research lab called DNA Medicine Institute to create such a solution. The result was a blood-testing platform that could run medical tests using a single drop of blood, with a device that could operate in zero gravity. The device was called a Reusable Handheld Electrolyte and Laboratory Technology for Humans — rHEALTH, for short.

This device was successfully tested aboard the International Space Station in 2022. But soon after, its creators realized that the device could have massive potential on Earth. So it aimed to create a consumer version, and launched a startup called rHEALTH to bring it to market.

rHEALTH is developing a consumer version of its testing platform called the rHEALTH Awesome. It features the same diagnostic capabilities as the original platform, while being, in the words of the company, “reshaped for everyday use.”

The system includes a primary handheld analyzer that reads blood samples, uploaded via single-use cartridges. A wearable sensor tracks vital signs like heart and respiratory rate, while results are sent to an accompanying mobile app.

With its platform, rHEALTH is targeting the $323 billion market for diagnostics and patient-monitoring devices. Initially, it will go after the $16 billion market for complete blood count tests — this test, known as CBC, gives doctors a snapshot of your overall health and is one of the most common blood tests in the world — and part of the market for patient-monitoring devices.

To generate revenue, rHEALTH will employ a razor-razor blade business model. This involves making money through a one-time sale of a product (a razor, for example) as well as recurring sales of a related accessory or consumable (for example, razor blades).

In this case, the rHEALTH Awesome device will serve as the razor, while disposable test cartridges will be the blades. The company may generate additional revenue via subscriptions to its app.

rHEALTH launched in 2023. The company has raised more than $23 million in funding from NASA, the National Institutes of Health (NIH), and pharmaceutical companies.

rHEALTH has been finalists in multiple startup competitions and its platform has been featured in scientific journals Nature Communications and PLOS One. The company has applied for, or been granted, seventeen patents to protect its technology.

Team Background

Eugene Chan - Chief Executive Officer

Dr. Chan realized the potential for a consumer version of the blood-testing platform while seeing patients at Massachusetts General Hospital and the Brigham and Women’s Hospital.

He was noticing delays in getting diagnostic test information from patients. The more time passed without this information, the more likely a patient was to suffer. So he wondered…

“What if I can have a device in my hand that gives us the health information about a patient immediately?”

This is what led to the creation of rHEALTH. In addition to his role with this startup, Dr. Chan is Founder, President, and Chief Scientific Officer of DMI, where he’s led the company for almost twenty years. He’s also Chairman of the Board of Directors with Abpro, a company developing antibody therapies for life-threatening diseases.

Prior to starting these companies, he founded US Genomics, a biotech company. He earned a Bachelor’s degree in Biochemical Studies and an MD in Medicine from Harvard.

Marcus Atkin - Industrial Designer

Marcus designed rHEALTH’s device and has a background in medical-product development.

Most recently, he was Director of Big Gun Creations, a product-development and packaging business where he worked with clients including Pfizer, NASA, and Speedo.

Before that, he was a freelance consultant, serving clients including Motorola, Siemens, and Nestle.

Earlier in his career, Marcus was an industrial designer with Dyson, a company selling vacuums and other cleaning appliances. He studied Architecture at City College of San Francisco and earned a Bachelor’s degree in Product Design from De Montfort University in England.

John Porto Jr. - Director of Operations

Prior to joining rHEALTH, John was Operations Director with Nordson Medical, a New Hampshirebased medical-equipment manufacturing business. Before that, he was an operations manager with Vention Medical, a similar medical-equipment company.

Earlier in his career, he was a system and sales manager with Advanced Polymers, a company creating specialty chemicals. John earned a degree in Electrical Mechanical Drafting Technology from Middlesex Community College.

Co-Investors

National Institutes of Health

An agency of the U.S. Department of Health and Human Services, the NIH is the primary agency of the United States government responsible for biomedical and health-related research. The NIH both conducts its own scientific research through its Intramural Research Program (IRP) and provides major biomedical research funding to non-NIH research facilities through its Extramural Research Program.

NASA

Raising
$1.23 million
Committed
$375.585K (31%)
Current Valuation
$99.82 million
Min. Investment
$500
Deal Type
Title III
(For all investors)
Offering Type
Equity
Finance History
Notable Investors
  • National Institutes of Health
  • NASA
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