UPMC Enterprises has become a strategic investor in BrainCheck, a medtech company focused on improving access to cognitive health care and transforming screening for Alzheimer’s and related dementias.
Enterprises participated in BrainCheck’s $10 million Series B funding round, which was led by Next Coast Ventures and S3. Additional investors included True Wealth Ventures, Tensility Ventures, and Nueterra Capital. SelectQuote joined UPMC Enterprises as a strategic investor.
The new funding will allow BrainCheck to expand research and development capabilities, develop a digital therapeutic, and enhance go-to-market capabilities.
BrainCheck is working to bridge the growing gap in cognitive health screening and care in the United States. While the number of seniors with dementia is expected to triple in 30 years, there is a limited number of neurologists suited to perform cognitive impairment screening.
“BrainCheck shows promise as a cognitive assessment tool that would allow patients to independently complete the test while allowing physicians to spend more time reviewing the results and planning care with patients,” said Dr. Adele Towers, director of risk adjustment at UPMC Enterprises and a geriatric medicine specialist at UPMC.
An FDA Class II Software as a Medical Device, BrainCheck allows physicians to facilitate in-person or remote assessment for early and accurate impressions of cognitive function. The 10- to 15-minute test is covered by Medicare and most private insurers and can be administered on a mobile phone, tablet or desktop computer. The company’s platform is a digital, easy-to-use alternative to the pen-and-paper brain health tests commonly used by specialists.
The BrainCheck platform is used in over 400 neurology, primary care, and geriatrics practices to reduce the human and economic toll of cognitive impairment and dementia.