Mamotest

The world health organization (WHO) stated that breast cancer is the most common cancer in the world. 1 of every 8 women will develop it in their lifetime, and of the 700,000 lives it takes every year, 70% occur in developing countries.  This happens because 80% of the population in developing countries doesn’t have access to preventive diagnosis.

Breast cancer survival rates vary greatly worldwide, ranging from 80% or over in North America, Sweden and Japan to around 60% in middle-income countries and below 40% in low-income countries (Coleman et al., 2008). The low survival rates in less developed countries can be explained mainly by the lack of early detection programmes, resulting in a high proportion of women presenting with late-stage disease, as well as by the lack of adequate diagnosis and treatment facilities.

Late diagnosis is a consequence of lack of medical equipment, lack of specialized doctors, lack of awareness, and insufficient  legislation that promotes annual screening exams.

Digital penetration rates are still low in Latin America and other developing countries. Specifically in the healthcare sector, only 60% of doctors use electronic records and digital software. Data collected is still not traceable, transparent, nor used for data-driven decision making.

Additionally, developing a new drug costs an average of USD 2.5 billion

For this drug to reach the market, it can take between 10 and 15 years

And just 3 out of 10 commercialized drugs generate income that exceeds average R&D costs. Because of extremely high costs, 80% of the population in developing countries can’t even consider accessing these drugs.

Late diagnosis and no access to drugs results in most breast-cancer related deaths worldwide. Cost of health expenses make over 100 million people drop under extreme poverty every hear (WHO). Without a mother, 2 of every 3 children in developing countries will not be able to finish school or end up in street gangs. 

With the same amount of money used to treat one woman in an advanced cancer stage, the health system can treat four at an early one, and still 80% of breast cancer cases in Mexico and the other developing countries are detected at stage 4 with a survival rate of 27%, while if the same cancer is detected at stage 1, survival rate goes up to 98%.

There are 3.9 Billion women in the world. And they all will need a mammogram by the age of 40.

Mamotest is a data driven patient end to end solution defeating breast cancer. It goes from awareness, demand traction and high quality imaging diagnosis to patient journey follow up. We don't just collect medical and clinical data but also care for psychological and socio-economic data. We create universal access to the high quality mammograms in overpopulated and remote areas. Allowing  all women to get their annual studies for 40% of the normal market price - with a second Artificial Intelligence based reading that increases 69% the chance of finding an earlier stage cancer. 

Mamotest is a comprehensive solution that creates inclusion itself. We operate diagnostic centers in unattended areas and with an holistic approach, we work on:

1. Legislation: By presenting and having approved a law that gives women 1 or 2 paid days off work to take gynecologic exams.

2. Awareness: By running online and offline campaigns throughout the year to promote prevention and access to information both to patients and doctors. 

3. Marketing strategies for demand traction: Medical strategy for referring, women ambassadors to promote preventive screening in their communities, direct marketing campaigns and partnerships with NGOs, Foundations and private companies. 

4. Technology & equipment: Investmenting in state of the art mammogram units and medical grade displays for radiologists. 

5. Medical quality: Using teleradiology to deliver results with the best available physicians in less than 24hs. Radiologists use a German breast cancer screening AI platform to complement their reporting process, increasing detection rates on early developing cancers.

6. Access: We democratize access to high-quality medical diagnosis, regardless of where patients live or their financial situation. We created an extremely efficient and effective model to offer out of pocket prices below 30% market price. 

7. Follow up: Identifying and supporting risk patients throughout the whole patient journey, guaranteeing their access to affordable and personalized early treatment to save their lives. 

Mamotest targets every woman over 40 years of age. In  Latin America, 80% of them do not have current access to mammograms, due to a lack for equipment, technicians, breast cancer radiologists and where they do, costs are prohibiting. Most of them do not have formal employment and depend on their partner's income, whose average salaries are around 500 USD, while trustable quality mammogram costs between 70 and 150 USD. The public sector sometimes serves these studies, but they have a 4 to 6 month waiting list.

By opening Mamotest centres in remote areas and monetizing patient data we are able to subsidize the cost of mammograms for women, looking at reaching a prize as close to zero as possible and breaking down the biggest two barriers that separate women from early diagnosis: reach and cost. Additionally, A.I on our platform gathers data that helps connect cancer patients to doctors in their area and have full traceability on the health sector, allowing all information to be in hands of the patient and the wide array of professionals who treat them. With better data on women, governments will be able to make accurate budget decisions to treat the population. The cost of trating four women in stage 4 cancer with a 27% success rate can be used to treat 10 women in stage 1 cancer with 98% success rate.

Within 7 months the Mamotest team was able to open one of the most complex markets in Latin America, Mexico, by opening 6 new centres for underserved women and with an ambitious goal of 100 centres by the end of 2024. 

We are a team of young, high-achieving professionals with diverse, international experience, and a track record globally recognized by the United Nations, World Economic Forum and Harvard University among others. We have Forbes promises and Global Healthcare visionaries awardees. 72% of our employees are women.

Mamotest was born In 10 years, most of us operating in Argentina at its worst economical context ever, we have never been afraid of tackling genuine problems in order to make our business work at full scale. 

Our advisory board is represented by AI, Real World Evidence and Health Economics specialists to guide and help us achieve our ambitious mission by revolutionizing the healthcare system. 

We have a start up and high tech permanent state of mind, but we strongly believe in the need of tropicalization of solutions, technologies and ideas. We commit ourselves to every community we serve, with a deep understanding of their social, economic, geographical and psychological situation. We directly speak to patients, we base our everyday work on our patients feedback and design demand generation campaigns after scanning the local market. 

We dream big and we do not fear change, we create it.

We aim to bring visibility to the pressuring challenges the healthcare sector has worldwide. In the developed world, access to quality healthcare, diagnoses & drugs increases life expectancy and helps solve basic needs for families to flourish. We believe basic services and preventive healthcare should be of access to all, and we believe technology is the great catalyst for change.

We have an incredibly ambitious plan to solve breast cancer, starting from Latin America and expanding to underserved USA, Europe, Africa and Asia. Our platform is global and the problem we are trying to solve 

Solve will provide us with funding, mentorship and exposure to create exponential change that can benefit millions of families worldwide. As a Latin-American born healthtech, we are looking forward to working with the most prepared makers and shapers under Solve and MIT to scale our solution on a global platform.

We believe in coopetition, building powerful networks of impact-minded leaders  in different industries is critical to expand our solution and compliment others, impacting millions of humans around the world.

Also, our short term expansion plan includes expanding our solution to the unattended population of the USA, specially targeted to Hispanic and Black women with no access to high quality healthcare. For this reason, gaining exposure in media, conferences, and stakeholders in the USA is very valuable for Mamotest.

Decision-making in developing countries are conducted practically blindfolded. People do not have access to real or high quality healthcare and die due to systemic failures.

There is no real information on countries population, specially for those living in remote areas or speaking native languages. There are no census, no valid data, which accounts for lack of transparency, corruption and underutilized funds. Pharmaceutical companies cannot access to the last mile, nor have updated information in order to develop new drugs more effectively. Most breast cancer related drugs attack late-stage breast cancer, and the world is due for early stage breast cancer to save more women and avoid chemotherapy.

We are not only creating easy, high quality, affordable access to mammograms for women in BoP. We are creating a new market, of 130 million women in Latin America who, though our platform, will become visible to the health sector and would be eligible for diagnosis, treatment, drugs, other services.

Also, our commitment is not only to patients, it is with people, human beings. By considering psychological, social and geographical profiles of women to help define the most personalized treatment for them, we are not only considering medical outcomes as the final goal, but women’s quality of life after treatment.

In the way we understand the future of healthcare, some definitions to be considered and the way we’re addressing or taking them into account are:

-Technology and AI should be used as a tool to scale impact and make processes more efficient to deliver personalized and quality healthcare. Our slogan is “technology for good”

-Healthcare should have a preventive rather than reactive approach in order to save millions of lives and billions in healthcare costs and treatments. Our market demand generation and education campaigns are focused on this premise. 

-Inclusion and accessibility: All human beings should have the right to access quality health in spite of their socioeconomic and geographic condition. Democratizing access to quality healthcare is our mission as a business.

-Structuring, collecting and analyzing data is essential for evidence-based decision making. The way we structure and collect data has been an important phase in the design of our new platform software. We use data statistics to make processes more efficient and promote evidence based public policies.

-All players in both the public and private health sector should work together to guarantee efficiency in the complete patient journeys in order to generate a systemic change. In Mamotest, even if mammography only delivers results for potential cancer that should be complemented with further studies, we articulate our work with gynecologists, clinicians and oncologists to guarantee the patient’s early treatments access, with Governments to guarantee oncologic drugs availability, and with NGOs to help patients during the process.

-Solutions should be flexible and resilient to unexpected circumstances. During COVID’s crisis, we managed to launch a free service for all institutions in LATAM to prevent the collapse of healthcare systems, using our Mamotest’s software and the network of specialized radiologists.

-Not all successful solutions are replicable everywhere. A market analysis is very important to understand how some solutions may impact and adapt. Particular differences in developed and developing countries may result in ineffective results of the same solution. We have a very deep market investigation done as a result of strong presence in territory, and close relationship with our patients and their medical referrals.

Goals for next year (2023):

Number of centers: 56

Operating countries: Argentina and Mexico

Number of beneficiaries: 500,000

Oncologic patients impacted to reach personalized treatment (estimated): 11,500

Goals for the next five reays (2027):

Number of centers: 535

Operating countries: Argentina, Mexico, USA, Colombia, Brazil, Spain

Number of beneficiaries: 4,800,000

Oncologic patients impacted to reach personalized treatment (estimated): 96,050

As a B corp and member of UN Global compact, we are constantly measuring our social and economic impact in the world.

In 2021 we gave access to hight quality diagnosis to 60.000 women, 72% of them are at the bottom of the pyramid. 

With the same amount of money used to treat one woman in an advanced cancer stage, the health system can treat four at an early one. This accounts for drugs, chemo, hospitalization and procedures. 

Mamotest has 15 operating centers in Argentina and Mexico.

So far we delivered high quality digital results to more than 460.000 women, with an average of 60K studies per year since 2019.

72% of these patients are at the bottom of the pyramid, and 87% of women diagnosed with breast cancer within our system, were able to receive an early treatment and save their lives.

From an economic impact point of view, Mamotest generates USD 15M savings to the health system, per year.

An impact matrix designed by the impact Swiss Consultancy Le Fil is used anually to measure Mamotest's impact.

The healthcare industry is, at least, 20 years behind every other industry in terms of tech adoption. This kept the health system, world wide, working in silos during many years thus medical data was not shared and that led to millions of preventable lost lives. Today Mamotest is shedding light on this problem, in Latin America, implementing an end to end solution that goes from awareness, to high quality diagnosis (specialized MD’s + Ai) to patient journey follow up and support for treatment selection. By doing this we are able to have a 100% patient data traceability and collect medical, genetic, socioeconomic and psychological data for every single patient. It means a data revolution, with the help of Ai and by combining all this data we are not only able to save millions of lives but in the mid term, probably start getting to new solutions for an old problem, based on different combinations of variables that were never combined or considered before. This is the health system of the future…working fully integrated. Our theory is already being validated and could soon be of use to defeat other diseases rather than breast cancer. 

Our Data for Good concept, is our gold standard. Mamotest is not only generating preventive healthcare demand by educating the population, and giving access to high quality affordable breast diagnosis, but is including the 80% population market that was being excluded from research statistics and product development as their data was not collected or analyzed.

Our end to end solution involves different technologies that interact with each other in a streamlined workflow. We have high-edge mammogram units taking medical quality images that are sent to our centralized cloud platform. We integrate with AI based diagnosis platforms for report generation and provide online real time follow-up to patients at risk.

Thanks to our flexible API we are able to connect with different partners and enhance our tech solution.

We are using AI for our screening program allowing doctors to focus on potentially sensitive studies, improving both: accuracy and timing.

Delivering a perfect experience for our patients and doctors is our obsession so we provide tools and features for engagement in every phase: open whatsapp channels, patient portal, doctor portal, mailing alerts, reminders and online appointments are used for a 360° online experience.

We are a company whose business is dedicated to fostering Gender Equality and Women Empowerment. Our business model is our corporate policy towards this subject as we work towards bringing gender equality to Health Services to all women, regardless of how "formal" their role is in the economy. 

We create and push laws that allow better access and annual paid leave for women to get their health checkups, we lobby press and government towards creating legislation that brings the same rights to health, we push for awareness and empower women to take control of their own health.

78% of our employees and 1/3 of our decision makers are women.

Mamotest’s actual sources of revenue are represented in 2 business models:  

Private owned centers: 

• Target client: Medical insurance companies pay a fee for every mammography, and patients with no insurance pay out of pocket. Mamotest uses a cross subsidized model to keep the out of pocket 50% below the average market price, increasing access without jeopardizing high quality diagnosis. 

• The investment on equipment and center’s operations are managed completely by Mamotest.

• The operation is fully runned by Mamotest, including awareness, high quality diagnosis and full patient navigation for women at risk, guaranteeing their completion of diagnosis phase, and access to affordable and personalized treatment at an early stage.  

Private-public model:

• Target client: Goverments (Health Ministries, local state governments, public insurance) 

• Mamotest provides service and  runs the complete operation of the mammography sector in public hospitals. An outsourcing contract is signed , in which the Government pays a fixed monthly fee and women (87% from BoP)  take the exam at no cost. This model has increased 6x the amount of mammograms done to the population, while generating valuable statistics for better decision making.

• Mamotest takes responsibility for installing of the equipment, hiring of technical employees, medical telediagnosis and awareness, communication and marketing campaigns to promote preventive screening, and full patient navigation for women at risk, guaranteeing their completion of diagnosis phase, and access to affordable and personalized treatment at an early stage.  

We are financially sustainable with strong unit economics, and we have $1.2M in annual revenue. We are not cash flow positive because we are investing very strongly in our growth in Mexico and in the development of our patient follow up platform. We expect to open 100 new diagnosis centers in Mexico in the next 24 months.

To finance growth, we are looking for investors for our Series A.

We are currently developing a new business model based on monetizing the data that we collect in our business as usual (in our diagnosis centers). This model will allow us to expand our revenue capability and the operating margins from our operations while reducing cost for mammograms for women.

By the end of 2024 we aim to have revenue of $23M.

We aim to bring the solution to Brazil, Colombia and underserved USA and be cash flow positive by 2026.

In our story we have a list of clean examples on our capability to close key deals and raise money from strategic investors:

• Between 2017 and 2018, we closed a financing for $880K from one of the most important insurance healthcare companies from the north of Argentina (Ioscor).

• In March 2020, Chivas Venture elected us as one of the most important impact social companies from the world and granted us $40K.

• In April 2021, we closed our seed investment round for $1.6M with Merck, Sharp & Dohme as the Lead Investor.

• In November 2021, we closed a deal with Vara (AI Company) in which they invested $240K in the opening of our first center in Mexico.

• In January 2022, Zayed elected us as the best Healthcare Social Impact Company in the world and granted us $600K.

• In March 2022, we closed a key deal with Fuji Mexico, in which they will be installing a mammography unit in each opening center and pay them a monthly rent of USD 3400. This deal is a game changer for us, since it allows us to open new diagnostic centers without having to purchase each mammography unit. (mammography unit cost $150K in cash)