Background
Amalgam Rx, Inc. is a digital health company dedicated to enhancing healthcare decision-making for both patients and providers. The company's mission is to empower individuals and healthcare professionals to make optimal healthcare decisions by integrating advanced technology into everyday medical practices. Amalgam Rx specializes in developing Software as a Medical Device (SaMD) solutions and Electronic Health Record (EHR)-integrated tools that streamline care delivery and improve patient outcomes. With a presence across four continents, the company's algorithms and applications support nearly 10 million patients and have facilitated over 50 million clinical decisions.
Key Strategic Focus
Amalgam Rx focuses on creating and deploying regulated digital health solutions that integrate seamlessly into healthcare workflows. The company's core objectives include:
- EHR Solutions: Developing tools that integrate into EHR systems to enable patient identification, clinical trial recruitment, care guidelines, and financial assistance within the provider workflow.
- Digital Products: Collaborating with leading life sciences companies to develop patient support applications and regulated SaMD products that drive positive outcomes.
- Medical-Grade AI: Building conversational AI solutions that comply with rigorous life sciences regulatory standards to enhance patient engagement.
- Data Insights: Leveraging billions of proprietary data points to deliver insights derived from millions of longitudinal patient records.
These initiatives target chronic disease management, aiming to improve patient outcomes and reduce healthcare costs.
Financials and Funding
In October 2023, Amalgam Rx secured a strategic investment from CVS Health Ventures during its Series B funding round. This investment aims to scale Amalgam's EHR-integrated clinical decision support platform, providing actionable information for healthcare providers at the point of care. Additionally, Aetna, a CVS Health company, is collaborating with Amalgam to implement these solutions in select health systems, focusing on improving outcomes and reducing costs for Aetna members.
Pipeline Development
Amalgam Rx has developed several key digital health solutions, including:
- iSage Rx: Launched in 2017, iSage Rx is the first FDA-cleared, prescription-only mobile application for the automated titration of all brands of basal insulin. It allows physicians to select from multiple clinically validated basal insulin algorithms tailored to the specific needs of type 2 diabetes patients.
- Dose Check: Developed in partnership with Novo Nordisk, Dose Check is a digital insulin initiation and titration app designed to assist people with type 2 diabetes using basal insulin. The app integrates with connected insulin delivery devices, continuous glucose monitors, and EHRs to simplify insulin management. In December 2022, Novo Nordisk expanded its global agreement with Amalgam Rx for the commercialization of Dose Check and made an equity investment in the company.
- Elevmi: In October 2024, Amalgam Rx, in collaboration with Otsuka Precision Health, Inc., launched Elevmi™, an intelligent digital application designed to support caregivers of patients with Alzheimer's disease. Elevmi leverages AI to deliver curated, personalized content, helping caregivers manage and coordinate care effectively.
Technological Platform and Innovation
Amalgam Rx's technological platform is distinguished by several proprietary technologies and methodologies:
- Modular SaMD Platform: Enables rapid development and deployment of regulated digital solutions, configurable by therapeutic area to integrate complex algorithms, devices, and services into a single offering.
- EHR Integration: Seamlessly integrates solutions into EHR systems, facilitating patient identification, clinical trial recruitment, and care guidelines within the provider workflow.
- Medical-Grade AI: Develops conversational AI solutions built to comply with rigorous life sciences regulatory standards, enhancing patient engagement and decision-making processes.
- Data Insights: Utilizes billions of proprietary data points to deliver insights derived from millions of longitudinal patient records, supporting evidence-based decision-making.
Leadership Team
Amalgam Rx's executive team comprises experienced professionals with diverse backgrounds:
- Ryan Sysko: Chief Executive Officer
- Chris Bergstrom: President
- Dr. Suzanne Clough, MD: Chief Medical Officer
- Matti Prasad: Chief Technology Officer
- Jennifer Main: Chief Operating Officer and Chief Financial Officer
- Bharath Sudharsan: Chief Data Scientist and Head of AI
- Scott Bechtler-Levin: Chief Customer Success Officer
- Matthew Combs: Chief Growth Officer
The Board of Directors includes:
- Jeff Courtney: Board Member
- Jane Buus Laursen: Board Observer
- Sonny Vu: Board Member
- Andrea Messina: Board Member
Leadership Changes
In March 2021, Amalgam Rx appointed Jennifer Main as Chief Operating Officer and Chief Financial Officer. Main brings extensive experience from her previous role as Chief Operating Officer at the Centers for Medicare & Medicaid Services (CMS).
Competitor Profile
Market Insights and Dynamics
The digital health market is experiencing significant growth, driven by the increasing adoption of telehealth services, the integration of AI in healthcare, and the demand for personalized patient care solutions. The global digital health market is projected to reach substantial valuations in the coming years, with a compound annual growth rate (CAGR) reflecting the rapid expansion of digital health technologies.
Competitor Analysis
Key competitors in the digital health space include:
- Livongo Health: Specializes in chronic disease management solutions, particularly for diabetes, leveraging connected devices and personalized coaching.
- Omada Health: Offers digital behavioral medicine programs aimed at preventing chronic diseases through lifestyle changes.
- Glooko: Provides a diabetes management platform that integrates data from various devices to offer insights and support for patients and healthcare providers.
These companies focus on integrating technology into healthcare to improve patient outcomes and streamline care delivery.
Strategic Collaborations and Partnerships
Amalgam Rx has established several strategic partnerships to enhance its market position and innovation capacity:
- Novo Nordisk: Expanded global agreement for the commercialization of Dose Check, integrating with connected insulin delivery devices, continuous glucose monitors, and EHRs.
- CVS Health Ventures: Strategic investment to scale Amalgam's EHR-integrated clinical decision support platform.
- Otsuka Precision Health, Inc.: Collaboration to launch Elevmi™, an AI-driven digital support solution for caregivers of patients with Alzheimer's disease.
- Amazon Web Services (AWS): Collaboration to accelerate the development and global commercialization of regulated digital solutions designed to transform healthcare delivery.
Operational Insights
Amalgam Rx differentiates itself through its ability to rapidly develop and deploy regulated digital health solutions that integrate seamlessly into existing healthcare workflows. The company's modular SaMD platform and EHR-integrated tools provide a competitive advantage by offering scalable, customizable solutions that address specific therapeutic areas. Additionally, Amalgam's focus on medical-grade AI and data insights positions it as a leader in delivering evidence-based, personalized healthcare solutions.
Strategic Opportunities and Future Directions
Amalgam Rx is poised to capitalize on several strategic opportunities:
- Expansion of Digital Therapeutics: Developing and commercializing additional SaMD products across various therapeutic areas to address unmet medical needs.
- Enhancing AI Capabilities: Investing in advanced AI technologies to further personalize patient care and improve clinical decision support.
- Global Market Penetration: Leveraging existing partnerships to expand the geographic reach of its digital health solutions, particularly in emerging markets.
- Integration with Emerging Technologies
