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Socrates Health Solutions Wins Pitch Competition in Dallas

By May 25, 2016 News No Comments

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May 25, 2016 | Jana J. Pruet | Dallas Innovates

STARTUP CAME OUT ON TOP OVER 14 OTHER COMPETITORS AT HEALTHCARE DEALMAKERS CONFERENCE


Socrates Health Solutions snagged the grand prize at the inaugural Innovation Pitch Competition Wednesday at this year’s two-day Healthcare Dealmakers Conference at the Adolphus Hotel in downtown Dallas.

The event was organized by Health Wildcatters, a mentor-driven seed accelerator focused on the health-care industry, garnered nearly 100 applicants for the startup pitch competition. The top 15 were selected to give their 5-minute pitch for the chance to win $5,000 from Health Wildcatters and $5,000 in legal services from Polsinelli, an Am Law 100 firm that focuses on early stage and healthcare industry companies.

Socrates Health Solutions believes its proprietary technology has the ability to “disrupt an $11B market.”

“We are proud to honor Socrates Health Solutions as the winner of this competition. The team wowed the crowd of investors with their innovative new approach,” said Hubert Zajicek, Health Wildcatters CEO. “We know they have a bright future in helping redefine the health-care market and are excited to see them move to the next level with counsel from Polsinelli.”

Socrates Health Solutions won the competition with its small, inexpensive device called Companion. Companion is a small glucose monitoring device that clips onto the patient’s ear and quickly measures their glucose levels without the use of blood or strips, which means there are no finger pricks required.

Scott Julian Smith

Scott Julian Smith of Socrates health
Solutions (Staff Photo: Quincy Curé Preston)

Socrates Health Solutions believes its proprietary technology has the ability to “disrupt an $11B market.”

While the Companion is not yet available for purchase, a pilot study was facilitated by Dr. Charles Brodsky and Baylor University Medical Center.

“Socrates Health Solutions’ pitch was impressive and refined. The startup’s business plan and success to date illustrated a great deal of potential,” said conference founder Jon Henderson, who serves as managing partner of Polsinelli’s Dallas office and also chairs the firm’s nationwide Corporate and Transactional practice.

Attendees watched the pitches and voted for their favorite to select the winner.

Graham Randall of Noninvasix and Julia Cheek of Everlywell (Photo: Quincy Preston) Healthcare Dealmakers Pitch Event Runnerup

Graham Randall of Noninvasix and Julia
Cheek of Everlywell (Photo: Quincy Preston)

Aside from the grand prize winner, two other startups, Everlywell and Noninvasix, tied for runners-up.

Everlywell is a direct-to-consumer health testing company that provides innovative, at-home test kits and redesigned lab results.  And Noninvasix is a noninvasive alternative for brain oxygenation monitoring in the neonatal intensive care unit (NICU).

“Innovation and M&A activity are the most significant enablers defining the future of the health care industry,” Henderson said.

The conference runs through Thursday.

 

This content appears as it was originally published on Dallas Innovates

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