/ ANNOUNCEMENTS

CoverUS raises $750k funding round to support development of new consumer-powered health engagement platform. 

NEW YORK, March 4, 2019 – Click for press contact

CoverUS, a Brooklyn-based healthcare technology company, has completed its pre-seed financing round in the amount of $750,000 to develop a new consumer-powered health data wallet and mobile engagement platform. Funding came from internationally recognized venture studios and angel investors, as well as prominent physicians and technologists.

 If CoverUS is successful in design and implementation, the CoverUS app will allow people to collect their health information and reward them for allowing access to anonymized insights and taking actions that provide richer “real-world data” to researchers, improve their own health and cut system costs. CoverUS envisions that the establishment of this two-sided marketplace between patients and the medical industry  could help reduce the estimated $1 trillion in waste in US health spending and enable active members to earn and save up to $1,500 per year – enough to nearly wipe out the average medical debt carried by 42.9 million Americans.  

“The breadth and diversity of our initial investor group makes us optimistic that our plan to put patients in the driver’s seat might fundamentally improve healthcare economics and outcomes globally,” said CoverUS President Christopher Sealey. “This financing round allows us to accelerate development and, we hope, put our product into the hands of patients as soon as possible.”

 A key facet of CoverUS is the RESPECT framework– a data governance and privacy model that is being built into the CoverUS app to go beyond HIPAA and GDPR compatibility to provide people with true agency over how their health information will be used. Consumers today are exposed – the majority of health data is bought and sold by third parties without patient awareness, and healthcare is the industry most affected by data breaches.

“At CoverUS, we view ourselves as consumer advocates in a rapidly evolving health data economy,” says CoverUS CEO Andrew Hoppin. “CoverUS is a business based on trust. We’re singularly focused on protecting member privacy and putting power over data back where it should be – in the consumer’s hands.” 

CoverUS plans to launch its app later this year through a pilot program with a community of 1.5 million patients.

Through March 23rd, CoverUS is offering non-accredited investors the opportunity to invest in the company for as little as $100 through the Republic crowdfunding platform. Click the link below to participate:

Coverus.health/invest

Disclaimer: This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and the Company’s objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect the Company’s current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. 

The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.