Investor Project Summary
PROBLEM AND OPPORTUNITY
Aging adults have the greatest care needs and the highest per capita wealth of any demographic. According to Bank of America Merrill Lynch, the global spending power of aging adults over 60 will top $15 trillion by 2020. Traditional family caring networks can’t cope with the needs of aging loved ones. Care homes are struggling to provide person-centric care for their patients. Technology solutions that actually improve the care needs of this demographic and meet the needs of the care industry have been virtually non-existent. There is a huge and growing demand in the care market for such a solution.
REMELIFE’S CARE SOLUTION
ReMeLife is a b2c and b2b multi-sided platform global markets model, with dual social media driven freemium b2c and subscription based b2b formats that is coupled with its companion app RemindMeCare (aka ReMe) that provides digital person-centred care solutions that are portable across the care journey for those with MCI, the elderly, dementia, LD’s and their care providers; from care in the community to end of life.
ReMe, ReMeLife’s companion app solution is the first technology solution of its kind that has been proven in care home and hospital trials to therapeutically work to improve elder, dementia and Alzheimer’s care.
The ReMe Solution captures the likes, dislikes, moods, preferences, wellbeing, habits, memories, life story, and family relationships of the patient automatically through the patient’s engagement in activities that include entertainment activities like photo capturing and sharing, music and media play and reading lists, communication sessions with family members and multi-party games played with family and friends as well as therapy-related activities, such as remininiscence, cognitive and music therapies, whilst providing remotely managed care, such as medication and hydration reminders. Patients engage in these activities on TV, mobile or tablet, a large screen table top tablet in a care home, via Amazon Alexa or through a care robot like Genie the Robot.
ReMeLife and ReMe enhances person-centred care, connectivey and therapy and offer multiple functionalities that support all those involved in care.
- ReMeLife is a global community membership platform that uses blockchain to provide self-data management and incentivisation through a tokenised member relationship for those involved in the care process.
- For those cared for at home, the companion app ReMe provides activities and profiling that supports care and therapy, packaged with care circle connectivity, remote monitoring tools and entertainment-based engagement.
- For care homes, ReMe assists families remotely engage, monitor and participate in care provision whilst carers can better know the person, deliver bespoke reminiscence, cognitive stimulation and music therapies. For the business, ReMe assists with GDPR compliance, training, CQC reporting and reducing paperwork, saving time and money.
- For the hospital, ReMe improves admission, reduces medication and wellbeing decline and assists in an earlier discharge and optimised stepdown.
- For local authorities and assisted living, ReMe enables a means to remotely manage the needs of those that are isolated and vulnerable.
Existing USP’s, Features & History …
- Unique personal multi-media profiling system that enables enhanced care delivery
- First fully portable personal support care system, usable from diagnosis to end of life
- ReMe provides first secure GDPR compliant Electronic Life Records (ELR) care data, that’s portable across care sectors
- UK’s first Alexa integrated care skills offering self-management, remote connectivity and monitoring
- First G Cloud approved person centred care software in evidenced based trials with Kingston Hospital
- First GP prescribable post dementia diagnosis app
- Suite of care business tools providing client acquisition and lead nurturing, training and regulatory reporting
- Incubate by Cisco, University College London and the Digital Catapult
What we’re building …
- Blockchain based tokenised care incentive & rewards membership platform
- Consumer personal data self-management interface
- A means for ReMeLife members to participate in its profits through a Continuous Security Offering
- Community engagement tools through AI deployment
Electronic Life Records
The data set captured for each patient is that patient’s Electronic Life Record™ (ELR™), a new data record invented and trademarked by ReMeLife which underpins the Solution. This ELR data set, unlike many other data sets, is portable and interoperable for the patient throughout the patient’s care journey. ELR is ported from care sector to care sector by the patient and is usable, with consent, by all care providers. This ELR data set has a multiplicity of uses, from research, care engagement, business administration and care reporting, to commercial engagement with consumers, enabling their purchase of products from dementia/care-friendly vendors. ReMeLife, through tokenisation, empowers its users to manage, monetise and decide how their personal data is used.
We have built a suite of Alexa care skills that enable the use of voice across the care journey to deliver not only enhanced engagement but voice activated care support, that includes remote connectivity and reporting, hydration and medication alerts and a range of self-care management tools. These are being developed on an ongoing basis in partnership with Amazon.
Now that the effectiveness and “stickiness” of the ReMeLife Solution (with its integral ReMe app) and its ability to return investment back to the care homes, has been proven and its distribution channels have been set up, ReMeLife is poised for “hockey-stick” unicorn-style revenue growth from the sales process that was designed by its founders to be viral and which is proving to be so. For each care home installing the ReMe App Solution there are on average 70 patients and carers that use it several times a day along with their 200 family members and care givers that also use it daily. Those family members and care givers use ReMe to keep in close touch with the patient and who in turn give their enthusiastic referrals to their family and friends who are also desperately interested in improving the care of their loved ones.
ReMe will initially make most of its revenue through monthly subscription revenue, from both care homes who are charged between £700-1500 per month and end users that are charged small monthly subscription fees for premium services like Amazon Alexa among other premium services on top of a “Freemium” model. Once there is a critical mass of users of the ReMeLife platform, there will be other revenue models—including advertising models and shared member revenue models that will become relevant. The current financials only show the care home and end user subscription revenue. In markets outside of the UK, channel partners earn suitable subscription margins to incentivize their participation in ReMeLife’s global distribution strategy.
CLIENTS & PARTNERS
- Acibadem: we are integrating the ReMe app and ReMe’sAlexa care skills within Acibadems’ (the second largest hospital group in Europe with 1 million+ patients) post surgery support package and will support the client acquisition process.
- Sharp: the ReMe app is bundled into Sharp’s MeetUp touchscreen care table and with an integration that enables capturing usage and care statisticcs from the use of Google Playstore app, so converting the MeetUp from being simply a large tablet to a powerful care and engagement system.
- CareUK; we’re completing trials with the UK’s. third largest care home group.
- Software Integrations: we’re integrating the ReMe app into numerous care planning systems for care homes, assisted living and day care centres, giving access to 7k+ care facilities.
- Hardware Integrations: we’re integrating ReMe with wearables, such as Pingbit and Genie the robot and with software system.
- Kingston Hospital: we’re continuing our work in Kingston Hospital to support their in ward care and to ingegrate both ReMe and the hospital with community care.
- Bluebird Care: we’re partners with the UK’s second largest home care franchisor
- GP Prescribability; ReMe is in the Digital Health London and EMIS GP app library evaluation pathway, such that ReMe will soon be the UK’s first prescribable dementia app for post diagnosis support.
- Digi-therapeutic; ReMe is working in Kingston Hospital to validate its impact on admission, medication, person centred care, discharge and step-down.
- NHS Roll out; With success will come the packaging of ReMe for an NHS roll out, since ReMe is a low-cost solution that achieves cost savings.
- Integrations; ReMe is interoperable with care planning and other digital systems providing data that supports their products and channel market access. Numerous integrations are underway, including with wearables such as Pingbit and social care robots, such as Genie the robot.
- Blockchain-based Data Security; with a growing community in which data is the key to enhancing wellbeing, it’s intended to use blockchain to both secure data and validate the contract and payment process. This will provide a mechanism for offering rewards to the loyal members.
- Payment Wallet; We’re creating ReMC coins, a care token that can be used to pay for care services, enabling easy remote transactions for numerous care settings, such as for care home residents wanting to spend their monthly allowance, children buy gifts and for transactions between partners and affiliates, in the manner of a token wallet.
- Amazon Partnership; We will continue to develop our range of Alexa based care skills to enhance ability of ReMe to engage with its target audience of vulnerable persons cared for, but also with the aim of increasing the commercial relationship with the ReMe care circle.
- Robots; We’re in partnership with a robotics company specialising in care, which will embed ReMe into a table-top robot as the ‘brain that knows the person’.
- Enhanced Functionality; We will continue to build our runway of B2B tools, that include client acquisition and nurturing tools, on the job dementia training and games.
- Community Engagement Tool (CET); ReMeLife is the consumer interface that ensures engagement and the ability to monetise, to the consumers benefit and, on an opt-in and trusted basis, the relationship between RemindMecare and its community. The more ReMe learns about the person cared for, the more it will can match the person with local services, events, activities, part time work and persons in the community. By providing care tools and offering a daily content-based engagement platform, with offered discounted partner products, ReMeLife will be a trusted resource, in the manner of eBay, Facebook or LinkedIn.
- Global Brand; Now used in Australia, India, Singapore and the US, we will aim to scale to capitalise on opportunities.
- Businesses and Insurers; ReMe is being configured to service the needs of businesses that wish to reduce absenteeism through enabling their work force to connect remotely with the person cared for.
Based on agreements with channel and care partners including Sharp, CareUK, and Bluebird in the UK and other channel, care and healthcare partners in international markets like Australia, Ireland, and Europe, ReMeLife is on target in 2020 for deployment in 3400 care homes, 1.8M end users and £8.9M in revenue. And with the planned launch of its DLT-based tokenized loyalty programme, to incentivize its global eco-system members, its planned international rollouts in North America and Asia, and global partnership with Amazon Alexa which includes ReMeLife-proprietary Alexa “skills”, ReMeLife is focused on a very achievable set of goals for the end of 2021—namely a global user base of 5.5 million and 2021 revenue of £55.6 million.
Two co-founders with entrepreneurial and start-up skills, an MSc in UX and voice-based engagement, ex of Inmarsat and Endemol. Team members include the Vice Chairman of the National Care Association and ex Head of Virgin Public Sector.
- Mandy Thorn, Director, with 27 years of experience in elder care and owner of a care home
- Guy Cooper, CTO, Ex Head Public Sector at Virgin, CACI, Minsitry of Defence
- Alistair Gray, Finance Director, formerly VP EMEA for JAS World-wide and ex-KPMG auditor
- Radhika Narayan, Client Engagement, with 18 years of digital health experience
- Stewart Southey, Blockchain in Healthcare Specialist,founder of Catena blockchain consultancy
- Anton Christof, Blockchain Manager, founder of KPMG’s Blockchain Centre of Excellence
- Lisa Tan, lead Tokenomics architect, lead steegitst Nodeunlock, Singapore University
- Tony Piedach, Loyalty, with 15 years of experience designing consumer loyalty programmes for corporations
Key Advisors include:
- Lindsay Royan, Medical Advisor, Head of Psychological Services at North East London NHS Foundation Trust with 26 years of experience working in elder care.
- Sir Vince Cable, Business and Political Advisor, a leading UK politician who led the Liberal Democratic Party in the UK and was a former Chief Economist at Shell
ReMeLife’s an early stage already commercialised low cost, easily adopted online platform and app, poised for growth. A global B2C/B2B highly scalable social media driven internet business with a highly monetisable freemium/subscription membership-based business model, ReMe offers significant social impact potential and high returns to investors.