MintHealth Launching Tokenized Equity Offering, Appoints New CTO

MintHealth Logo (PRNewsfoto/MintHealth)

Global decentralized health platform, MintHealth™ has announced the launch of its tokenized equity offering. The company intends to raise up to $24 million pursuant to Regulation D of the U.S. Securities Act of 1933. The decentralized health platform-as-a-service aligns health plans, provider groups, and wellness brands around patient engagement, improved clinical outcomes, and lower healthcare costs. The platform will enable the patient to manage their own self-sovereign health identity and record, secured via blockchain, and engages the ecosystem to drive healthy patient behaviour through the Vidamint™ token.

The Company’s Regulation D, Rule 506(c) offering is open to accredited domestic and international (under Regulation S) investors. MintHealth recently announced it will release both a security and utility token (see 3/15 MintHealth Updates Toward Security Token Structure release). MintHealth will offer investors a security token (MHST) in this Regulation D offering under the United States Securities Act of 1933. Vidamints™ (VIDA) are loyalty/utility rewards that are sold at a fixed price directly by MintHealth. Operating as the rewards and incentive system on the MintHealth platform, VIDA will be used to engage patients with daily, highly personalized activities that improve health and lower insurance costs. The MHST token is expected to entitle holders to a 10% royalty percentage of revenues generated through the sale of Vidamints by MintHealth, subject to certain adjustments and offsets, and also to equity ownership in MintHealth.

Samir Damani, CEO and co-founder of MintHealth, explained: “We are working toward securing financing to propel MintHealth into the next phase of growth. We are seeing strong early interest from investors based on the significant progress that has been made on bolstering the leadership and advisory teams, as well as lining up initial pilot partners. The interest in our platform-as-a-service model is a testament to the large unmet need in healthcare around decentralized solutions for moving health data combined with token incentives to drive meaningful behavior change and improved clinical outcomes at lower costs.”

Also announced was the appointment of Tyson McDowell as Chief Technology Officer, effective immediately. As a senior technology executive and serial entrepreneur, McDowell brings 16 years of healthcare information technology experience and a deep background in enterprise class web-based systems for healthcare and high-engagement consumer technologies, to MintHealth. McDowell will be responsible for driving all aspects of MintHealth’s technology vision and product development. As CTO, his primary focus will be advancing the overall direction and development of MintHealth platform. Technology architecture, software development, user experience design, and data analytics will fall under McDowell’s purview.

Damani remarked: “Tyson’s combination of technical expertise, leadership experience, and an entrepreneurial approach make him a strong addition to our executive team. His previous work in optimizing processes within the US healthcare system and working with every stakeholder in the value chain will be invaluable to MintHealth. As the technical evangelist for the company, Tyson will play a key role in shaping the company’s technology strategy as we embark on its next phase of developing the MintHealth platform.”

McDowell joins MintHealth from Lead Wingman, a venture studio he founded to incubate early stage tech companies that aim to partner humans with AI and machine learning. Prior to this, he co-founded Benchmark Revenue Management, a revenue cycle management software company, which merged with Avadyne Health in 2012. He served as CEO, CTO and President optimizing the receivables process for more than $20B in healthcare reimbursement.

McDowell commented: “My experience has led me to realize the greatest technology application is the ability to drive human behaviours that impact true health outcomes. This is one area where MintHealth is uniquely positioned to have significant impact on chronic disease prevention and management, and enable consumer-driven value based care overall. I am thrilled to have the opportunity to lead the development of a transformative platform that combines blockchain, token incentives, a self-sovereign patient health record and health data exchange.”

Matthew Warner
Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.