New investment from Newcross Healthcare and Eos will help further advance future U.S. and global expansion, bringing unique healthcare screening and engagement capabilities to more people.
Fountain Life, a preventative health and longevity company committed to transforming global healthcare from reactive to proactive, today announced it has secured $15M in funding from Eos Venture Partners, the leading InsurTech investor, and Newcross Healthcare, experts in healthcare including treatment and care at home, based in the United Kingdom. The investment is intended to support Fountain Life in the transformation of the healthcare ecosystem, including its integrated insurance business, while improving future healthcare and its availability in the home and more widely around the globe.
Fountain Life is committed to transforming the current healthcare model and moving the emphasis from reactive to preventive care by using cutting-edge technology to detect asymptomatic diseases early. The company has brought together some of the world’s leading and most innovative physicians and scientists to create a new kind of healthcare that is predictive, preventive, personalized, and data-driven. By leveraging new AI technologies and advanced diagnostic testing to identify conditions such as cancer, cardiac, metabolic, and neurodegenerative disease at the earliest stages, Fountain Life gives members the information and tools to make lifestyle modifications that can help them live longer, happier lives.
“Detecting asymptomatic disease is challenging because the human body is amazing at masking symptoms, but diagnostic technologies have come a long way. The ability to screen for structural abnormalities and other key indicators of developing disease exists today, but we must change the healthcare delivery model to truly realize the benefits of early disease detection,” said Bill Kapp, Fountain Life CEO and co-founder. “The best way to avoid or mitigate long term issues is to look for them early – waiting until conditions manifest themselves and require costly treatment is suboptimal and can lead to reduced longevity and quality of life. We are humbled by the commitment by Eos Venture Partners and Newcross Healthcare to supporting this transformation.”
Traditional health insurance spends just 3% of premiums on preventative healthcare. Fountain Health Insurance, a subsidiary of Fountain Life, switches that focus to 27% of premiums on preventative healthcare to create healthier populations and lower overall healthcare costs. While it does cover traditional care, its primary focus is on proactive engagement and preventative care. Preventative healthcare saves lives by catching illness early, while it is still highly treatable, or by eliminating it entirely. Preventative healthcare also saves money. Early detection and treatment costs are a fraction of those incurred when illnesses like cancer, heart disease, and diabetes are diagnosed in their more advanced stages. This is made possible by the convergence of sensors, networks, and AI that are transforming medical diagnostics and providing physicians with tools that were previously unavailable.
“We are delighted to announce our investment and partnership with Fountain Life, a unique business combining the latest in precision diagnostics with an insurance business to democratize access to leading medical technology,” said Eos partner Sam Evans. “We look forward to working with the team to support their product and geographic expansion plans.”
“We are very pleased to become a strategic investor in Fountain Life. The future transformation of care will be greatly enhanced by a focus on wellness and preventative diagnostics as well as advancements in treatment and care at home enabled by technology and a highly skilled healthcare workforce” said Stephen Pattrick CEO and co-founder of Newcross Healthcare.
Since its founding in 2020 by award winning life and business strategist Tony Robbins, best-selling author and serial entrepreneur Peter Diamandis, and accomplished surgeon, biomedical scientist, and serial entrepreneur Dr. Bob Hariri, Fountain Life has launched a health insurance business and opened dedicated centres in Naples, FL, White Plains, NY, and Dallas, TX, with a centre under development in Lake Nona, FL. The company plans to open additional centres in the U.S. and globally in 2023. In addition, members can receive Fountain Life services via tele-health where permissible by law.