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Newtopia Announces $10 Million in Series A Funding

Filed in Press Releases by Newtopia on October 18, 2016

The Personalized Health Company Will Use the Funds for a Massive U.S. Expansion to Revolutionize Disease Prevention Programs in the Workplace

NEW YORK, NY–(Marketwired – Oct 18, 2016) – Newtopia, a leading personalized health company that uses genetic testing and behavioral science to build highly personalized disease prevention plans for enterprise, today announces $10M in funding led by a syndicate of U.S. and Canadian institutional investors including Bloom Burton & Co, an investment banking firm specializing in the health sector, through its affiliated Bloom Burton Healthcare Lending Trust.

Founded by entrepreneurial and health innovator Jeff Ruby, Newtopia plans to grow the team internally and aggressively expand its geographic reach in the U.S. to revolutionize disease prevention programs in the workplace. Its health engagement platform is proven to significantly reduce corporate health costs by targeting employees at-risk for obesity, type 2 diabetes, heart disease and stroke (metabolic syndrome) and deliver effective ‘n of 1’ experiences for lifestyle management.

“I founded Newtopia with one goal in mind — to transform the way businesses engage in employee healthcare and disease prevention,” said Jeff Ruby, founder & CEO of Newtopia. “This investment will be used to fuel our continued growth and industry leading outcomes in the health care industry and accelerate the deployment of targeted disease prevention solutions. We will continue empowering at-risk employees to take charge of their health and well-being while simultaneously helping businesses save on rising employee health care costs.”

Newtopia’s program has been proven to improve key health metrics and produce in-year savings in medical costs and ROI for employers by offering a hyper-personalized approach that includes key factors such as genetics, personality, motivation, and readiness to change.

“Our board is sincerely excited to move forward with the oversubscribed Series A round. Now we can shift gears and be completely focused on the business and partnering with our wellness community to exceed their goals,” said new board member Michael Weintraub.

Newtopia currently employs 50 and continues to grow the team aggressively in both New York and Toronto to accelerate its expansion in the U.S.

“This is a great opportunity to leverage our deep expertise in healthcare innovation, development and commercialization to help accelerate Newtopia’s growth,” said Brian Bloom, co-founder and president of Bloom Burton. “Their unique approach to disease prevention and engagement aligns with our vision in the corporate health space and we’re excited to continue working together.”

To learn more about Newtopia, visit www.newtopia.com.

About Bloom Burton & Co.

Bloom Burton & Co. is an investment-banking firm dedicated to accelerating returns for both investors and companies in the healthcare sector. Bloom Burton has an experienced team of medical, scientific, pharmaceutical, legal and capital markets professionals who perform a deep level of diligence, which combined with a creative and entrepreneurial approach, assists our clients in reaching the appropriate monetization events. Bloom Burton and its affiliates provide capital raising, M&A advisory, equity research, business and scientific consulting services, direct investing and company formation and incubation services. Please visit www.bloomburton.co to learn more.

My Aha Moment with Jeff Ruby of Newtopia #MaRSaha–– When his father was diagnosed with cancer, Newtopia founder Jeff Ruby realized that he was also at risk and the... Watch Now »

Newtopia Announces Executive Team Expansion In Anticipation of Rapid Customer Growth–– Newtopia adds five key hires to executive team and remains on track to hit 100 employees by end of 2016... Read Now »

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Newtopia Raises $2 Million, Uses Genetics to Reduce Corporate Health Costs

Excerpt from TechVibes Article by Techvibes NewsDesk on November 1, 2016

Newtopia has raised another round of funding.

The Toronto-based startup has raised an additional $2 million from Bloom Burton & Co., an investment banking firm specializing in the health sector, through an affiliated fund. Newtopia has now raised a total of $8 million in venture capital.

“We are thrilled with the support from Bloom Burton, an organization with deep expertise in healthcare innovation, development and commercialization,” says Jeff Ruby, founder of Newtopia.

The Canadian company uses genetics to develop personalized health plans and reduce corporate health costs. Newtopia’s enterprise health engagement platform reduces costs by specifically targeting employees at-risk for metabolic syndrome and developing a personalized approach to lifestyle management.

Employee wellness company Newtopia gets $10M to expand genetic testing and coaching platform

Excerpt from MobiHealth News Article by Heather Mack on November 1, 2016

Toronto-based Newtopia, a personalized health and wellness company, has raised $10 million in Series A funding to expand its offering of health management and coaching plans based on genetic testing and behavioral science. A syndicate of both US and Canadian investors took part in the round, as well as Bloom Burton & Co., which specializes in the health sector through its affiliate Bloom Burton Healthcare Lending Trust.

The funding will be used to hire more staff and expand Newtopia’s reach domestically by partnering with employers to offer disease prevention programs in the workplace. The company currently has a staff of 50, and plans to grow the team “aggressively” in both New York and Toronto, according to a company statement.

Excerpt from Betakit Article by Jessica Galang on November 1, 2016

Newtopia Raises $10 Million Series A To Help Enterprises Empower Employees In Managing Health–– Toronto-based Newtopia, a health engagement platform targeting the enterprise sector, has raised $10 million in Series A funding. The funding... Read Now »

Excerpt from Canadian Business Journal Article by Sara Sublousky on November 1, 2016

Newtopia Announces $10 Million In Series A Funding–– NEW YORK, NY–(Marketwired – Oct 18, 2016) - Newtopia, a leading personalized health company that uses genetic testing and behavioral... Read Now »

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It’s time for dietary intervention in the workplace

Filed in Inspired Insights by Jeff Ruby on March 13, 2017

In 2013, the Journal of the American Medical Association published a report identifying the top risk factors related to premature death and years lived with disease. In the 34 countries investigated, poor diet emerged as the greatest contributor to ill health out ranking other factors such as: smoking, high blood pressure, high body mass index, high fasting glucose and physical inactivity.1

In a similar study conducted in 2011, the Oxford Academic Journal of Public Health announced that poor diet had the greatest impact on health care costs, tallying up to £5.8 billion. A high body mass index followed with a cost of £5.1 billion. The cost of smoking and alcohol use were both £3.3 billion, and physical inactivity came in at £0.9 billion.2

Worldwide, it is clear that whether it be due to hunger or malnutrition, inadequate diet poses the greatest threat to our health and to the economic burden of disease. In the US, while hunger is an issue and should not be discounted, malnutrition is an even bigger issue. Malnutrition refers both to undernutrition and overnutrition, as well as to conditions arising from dietary imbalances leading to diet-related chronic diseases.

In the 2013 study listed above, the Institute of Health Metrics and Evaluation tracked 14 dietary risk factors related to malnutrition. These factors included dietary trends ranging from diets low in fruit, vegetables, nuts and seeds, to diets high in trans fats, sodium and sugar.

While the trends for some of these dietary risk factors appear to be improving, overall diet in the US population remains poor with less than 1% of adults meeting the American Heart Association’s definition for “Ideal Healthy Diet”.3

How is it possible that 99% of the population is falling short?

When it comes to identifying the barriers to healthier eating, the top culprits are lack of knowledge of what to eat, the complete bombardment of processed foods, and misleading advertising.

Think about it: nutrition is not taught in the regular school system, nor is it taught in most medical schools. Even if physicians have the desire and knowledge to educate patients, they simply lack the time to do so.

Then we have the complete bombardment of processed foods. Grocery stores are lined with prepackaged, ready to go, “just-throw-in-the-microwave”-kind of meals. Convenience stores and fast food joints are located on every street corner, and overall it is much easier to find a decadent treat than it is to find healthier alternatives, even in hospitals. Meals have clearly decreased in quality, but even worse, these unhealthy options have increased in quantity.

Next, we have misleading advertising. Manufacturers have preyed on the public’s fear of fat by labelling foods as “low fat” and “cholesterol free”. There has also been a trend to prioritize low calorie options despite being entirely sugar based and devoid of any nutrients.

This all seems very grim, until you consider the good news which begins with the fact that health and disease are multifactorial, and an avenue already exists to combat the barriers to healthier eating.

When diet is improved, the results impact much more than the stats related to diet alone; blood pressure decreases, obesity rates and BMI are reduced, and fasting glucose improves, reducing the risk of diabetes. In addition, when diet is improved, energy levels increase. Greater energy usually results in increased activity, better sleep, and a greater sense of well-being.

If poor diet is the greatest contributor to ill health, improving it will have massive positive implications.

That’s excellent, but it still doesn’t address the question of how we can educate people and target a large enough audience to make a dent in the problem.

This is where disease prevention programs come into play. Disease prevention programs provide an excellent platform to provide education in the key areas of health. By targeting the workplace, disease prevention programs have the opportunity to reach a large audience. As noted above, health and disease are multifactorial; when you improve one risk factor, or when you modify one contributing lifestyle habit, health improves exponentially. It is because of this that while nutrition might play one of the main roles to our well-being, and absolutely needs to be addressed, an ideal disease prevention program must also include the other lifestyle factors that follow close behind. We must tackle physical activity and we must investigate the behavioral motives to our decision-making process and readiness to change. Promoting sleep and stress management are also key.

What about addressing the issue of abundance and availability of unhealthy foods? With full-time employees spending most of their waking hours in the workplace, it’s now up to us as employers to become more aware of what we’re offering our employees. We can easily support workers by offering appropriate foods during meetings and in the cafeteria, or by offering vending machines that have healthier options. At the very least, we can provide a clean and safe eating area equipped with refrigerators and microwaves so that meals can be stored and prepared appropriately.

The advantage to all of this of course, is healthier and happier employees, reduced employer costs, and a great start to reducing malnutrition.

And that’s a win for everyone.

  1. http://jamanetwork.com/journals/jama/fullarticle/1710486?resultClick=1
  2. https://academic.oup.com/jpubhealth/article/33/4/527/1568587/The-economic-burden-of-ill-health-due-to-diet
  3. https://www.heart.org/idc/groups/ahamah-public/@wcm/@sop/@smd/documents/downloadable/ucm_470704.pdf

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