World Diabetes Day takes place on Thursday this week and to mark the day Rand Merchant Investments (RMI) has invested in a firm focused on diabetes.
Okay so perhaps that’s stretching it a bit as often these negotiations take a long time but the coincidence is somewhat poetic.
Through its investment arm, AlphaCode, RMI has secured a 25.1 percent stake in Guidepost.
Guidepost bills itself as a diabetes coaching service whereby it helps those with diabetes.
“The Guidepost platform orchestrates care pathways defined by our clinical team and provides data analytics that enable coaches to generate insights into each person with diabetes. Through the Guidepost platform, coaches connect with their patients, select appropriate interventions and work with their patients to make those interventions work in the real world,” the firm explains on its website.
The other side of the coin is that Guidepost also helps insurers manage diabetes risk. Diabetes can be incredibly expensive from both a patient and insurer’s point of view if not managed correctly and Guidepost helps solve this.
“We’re delighted to partner with AlphaCode and RMI as we grow our business. We already work with life insurers such as OUTsurance, innovative medical schemes such as CAMAF and pharmaceutical businesses such as Novo Nordisk. The heart of our business is a network of caring diabetes coaches empowered by our technology. We look forward to supporting our coaches and patients even better with RMI’s involvement,” chief executive officer and co-founder of Guidepost, Graham Rowe, said in a statement.
The investment will be used to bring in key executive skills, further develop Guidepost’s technology and scale the business both locally and globally.
“We believe that Guidepost’s growth will come from applying its healthtech capabilities to the insurance industry. Guidepost has already started programs at insurers where they are underwriting diabetic lives and managing these patients on the program in collaboration with Swiss Re. There is also the opportunity for the skilled leadership team to roll out this methodology for other diseases and chronic conditions,” senior investment executive at RMI, Dominique Collett, added.