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MyHealthTeams, a San-Francisco social networking website that aims to connect people suffering with a variety of health conditions, has pulled in $1.75 million in funding from private equity investors Adams Street Partners and 500 Startups.
Research has shown that 1 in 2 Americans are living with a chronic condition. MyHealthTeams was founded in 2011 as a community-focused site for parents of children with autism.
MyHealthTeams focused its efforts on autism first, as one in 88 children in America is diagnosed with symptoms of autism. After launching in June 2011, the autism social network already has 26,000 registered parents from all across the country. The company is following the same strategy for other chronic conditions and diseases.
“There’s not going to be a Facebook for health,” said Eric Peacock, the company’s founder. “There’s going to be something better, but there will be one for autism, and one for breast cancer, and one for diabetes, and so on.”
Today, MyHealthTeams has launched the MyAutismTeam mobile app, where members can recommend local businesses to suit the needs of those with autism. The iPhone app is available for free. In my opinion, the app is an important step as it is a highly tedious and painful process for people with disabilities to find local businesses that cater to their needs, whether it’s taxi companies that accept guide dogs, or drive-throughs that cater to the deaf and hard of hearing.
There are already myriad national associations to support people with specific disabilities, but Peacock claims that none of them focus on these social and local aspects, “the part where a person actually takes action to tackle their condition.”
Peacock told me the company will make money by leveraging the large numbers of parents signed on to the platform, by offering them discounts on the sales and products they need. Peacock hopes that provides of these services will be willing to split the revenue share.
MyHealthTeams plans to grow and reach new patients by partnering with the medical community. “Within the next five years doctors may be prescribing this type of resource directly to their patients at the time of diagnosis,” said Mike Lynn, a practicing physician and a partner at Adams Street Partners, in a statement.
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