“Wellness 2.0” Provider Expanding Operations.
February 20, 2008 – BioIQ, a healthcare information technology company based here that specializes in wellness and diagnostics, announced today the completion of $2.5 million in Series B financing. The investment round was led by venture firm Great Pacific Capital. Great Pacific’s Managing Partner Dave Gross will take a seat on the BioIQ board.
“Securing growth capital allows us to extend our product line and expand our reach into corporate, institutional, and direct-to-consumer markets,” said Justin Bellante, CEO at BioIQ. “People everywhere are acknowledging the importance of regular screening to detect chronic conditions like diabetes, heart disease, and cancer. We’re seeing steady demand for our corporate wellness programs and are preparing to offer our solution directly to consumers.”
“As early investors, we have worked with BioIQ since inception, and we are now seeing the fruits of our labor,” said Gross. “BioIQ has established a foothold in the wellness industry as the go-to solution for at-home biometric screening and high-participation corporate wellness programs. We are excited to help them expand their operations.”
In an effort to control rising health care costs, progressive companies are encouraging employees to monitor important biometric information. BioIQ enables high-participation wellness programs by supplying consumer-friendly test kits at home with test results provided online. “The use of biometric monitoring has been widely proven as a key factor in the detection of diseases such as cancer, diabetes and heart disease in their early stages, often before symptoms occur, ” said Dr. Alfred J. Damus, chairman of the BioIQ Medical Advisory Board and a Fellow of the American College of Emergency Physicians. “For the first time, individuals can take control of their health by connecting with the best diagnostic and health assessment technology available today.”
BioIQ develops and markets diagnostic wellness solutions through corporate, institutional, and direct-to-consumer channels. Its home test kits and corporate solutions enable people to detect critical diseases such as cancer, diabetes, and heart disease in their early stages, often before symptoms occur. BioIQ empowers people to take control of their health by connecting them with best-of-breed diagnostic and health assessment technology and enabling private interaction with test and assessment results through a personal health dashboard that is securely managed and updated online. www.bioiq.com
About Great Pacific Capital
Great Pacific Capital is an early-stage venture firm active in Santa Barbara and Ventura counties. The firm backs teams with a demonstrated ability to apply technology to solve a problem and grow a business. Industries of interest include: Internet media, software as a service (SaaS), medical diagnostics and wellness.
Press Contact: David Baum
Director of Communications, BioIQ