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.