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Osmind pitches clinical management and data analysis for mental health practices using psychedelics

Jimmy Qian and Lucia Huang, the co-founders of a new clinical practice management and data analysis platform for mental health providers focusing on cutting edge psychedelic treatments, met at Stanford University. 

The two both come from healthcare backgrounds. Huang, whose mother was a biomedical engineer, worked as an associate at Warburg Pincus focused on healthcare and worked at the startup Verge Genomics before heading to Stanford’s business school while Qian was in medical school at Stanford.

Both also went to high school in the Bay Area and were intimately familiar with the mental health crisis affecting the communities around Silicon Valley.

Qian worked on a few non-profits in the mental health space through his undergraduate years at Penn and then again in the Bay Area while he was at Stanford.

Osmind’s founders say the goal for their young startup is to help patients access innovative treatments to mental health by providing clinicians and pharmaceutical companies with software and services that will make the provision of care, and proof of the efficacy of treatment, more readily available.

There are 11 million Americans that are resistant to most mental health therapies, according to Huang and Qian. Those patients can cost the healthcare as much as $250 billion, they said. “Nobody has been able to help this patient population,” said Huang in an interview. “Pharma doesn’t develop drugs for them.”

Now graduating with Y Combinator’s latest cohort of companies, Osmind’s public benefit corporation intends to aggregate data from the sickest patient population and provide that data to drug developers for clinical trials and to help insurers route patients to the treatment providers that can benefit them the most, according to Qian.

The company, which launched its services two months ago, already has 30 practices using its software covering 3,000 patients.

“The beauty of all of this is that it’s a win-win for everyone,” said Huang. Providers get a software platform that streamlines administrative tasks and provides patient outreach and remote monitoring services. They also have a web portal that allows them to view patient progress.

Qian said its a service designed for physicians that are not necessarily technically savvy. It also provides a dataset that can be used to clinically validate some of these more experimental forms of therapy including psychedelics and ketamine treatment.

“We improve the care journey,” said Qian. “These are clinics that don’t have the manpower to do that.. You can’t call your patients every single day.”

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Latin America Roundup: Grupo ZAP, Grow Mobility, Wavy get acquired; Credijusto adds $100M; Cornershop, iFood brace for delivery boom

Sophia Wood

Sophia Wood is a Venture Partner at Magma Partners. Sophia is also the co-founder of LatAm List, an English-language Latin American tech news source.

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Warburg Pincus considers Service Logic sale

Warburg Pincus, is considering a sale of Service Logic, a commercial heating, ventilation, and air-conditioning company that could fetch more than $1.5 billion, according to people with knowledge of the matter.

The New York-based private equity firm is holding talks with potential advisers to sell Service Logic in the first half of 2020, said the people, who asked not to be identified because the information is private. Service Logic, based in Charlotte, North Carolina, is expected to attract interest from corporations and other private equity firms, the people said.

No final decision has been made and Warburg Pincus could opt to keep the company, they said.

A representative for Warburg Pincus declined to comment, while a representative for Service Logic didn’t respond to requests seeking comment.

Service Logic is one of a number of HVAC assets likely to come to market in 2020. U.K.-based Melrose Industries Plc is seeking to raise more than $3 billion from a potential sale of the bulk of its Nortek division, Bloomberg News reported in January. United Technologies Corp. is seeking to spin off its HVAC division, Carrier, as it prepares to close its merger with Raytheon Co.

Warburg bought Service Logic from Sterling Investment Partners in 2017. The company services more than 12,000 clients and 90 million square feet of commercial, industrial and institutional real estate, according to its website.

Source: The Latest