Newtopia has secured a follow-on investment from Bloom Burton & Co, a Canadian investment banking firm specializing in the health sector. The value of the investment round was not disclosed, however, Techvibes reported it to be $2 million. Based in Toronto, Newtopia is a personalized health coaching company focused on helping individuals achieve weight loss and make healthy living decisions. Earlier this year, it received funding from insurance underwriter Argo Group US Inc. It has also been backed by Canadian venture capital firm BDC Capital and a number of angel investors.
Newtopia Announces Major Investment From Bloom Burton
Investment firm is latest to support innovative corporate wellness company
TORONTO, ONTARIO, Dec. 3, 2014 – Bloom Burton & Co., a leading investment banking firm specializing in the health sector, through an affiliated fund, has joined the growing number of institutional investors in Newtopia, a personalized health company that uses genetics to develop personalized health plans and reduce corporate health costs. Bloom Burton’s support follows the announcement of a significant investment from international insurance underwriter Argo Group US Inc. (AGII:NASDAQ GS), which plans to utilize Newtopia’s services across its full US employee base.
“We are thrilled with the support from Bloom Burton, an organization with deep expertise in healthcare innovation, development and commercialization” says Jeff Ruby, Founder & CEO, Newtopia. “Bloom Burton understands the corporate health landscape and the exciting growth opportunities for Newtopia, especially in markets such as the US, where population health trends and new legislation have highlighted the urgent need for corporations to play a supporting role in employee health.”
Newtopia’s innovative enterprise health engagement platform significantly reduces corporate health costs by specifically targeting employees at-risk for metabolic syndrome (obesity, type 2 diabetes, heart disease and stroke) and developing a highly personalized approach to lifestyle management. The program has been proven to improve key health metrics, producing in-year savings in medical costs. “We’ve proven that our program delivers positive health benefits within a very short timeframe, driving significant savings and return on investment for the organizations we work with,” says Ruby. “Bloom Burton’s support will allow us to expand our team and pursue our growth agenda even further.”
“This is a great opportunity for Bloom Burton to help accelerate Newtopia’s growth,” says Brian Bloom, President, Bloom Burton. “The efficacy of their approach using genetics, live coaching and engagement science in the corporate health space is just the type of innovation we seek and I’m glad that we can contribute to their continued success.”
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.com to learn more.
Newtopia is a personalized health company leveraging genetic testing and the latest engagement science to inspire individuals to make healthy lifestyle decisions. Newtopia’s patented enterprise health engagement platform combines personality-matched coaching with mobile social health communities and genetically tailored health products to keep clients motivated and on track. Newtopia is partnering with insurers, employers and brands to offer disease prevention and management programs to risk-assessed individuals that deliver proven sustainable outcomes, quantifiable cost savings and a substantive ROI. Newtopia’s programs and products are guideline and evidence-based and are available across the United States and Canada.
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