Sep 5, 2023

Biohealth Innovation Tuesday, September 5, 2023 In a significant stride towards advancing improvements in neonatal care, BioHealth Innovation, Inc. (BHI) portfolio company and client, Innara Health, has become an integral part of Cardinal Health – a leading distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities, This strategic integration underscores Innara Health’s dedication to improving neonatal feeding outcomes, a commitment that has been nurtured through a collaborative journey involving prominent industry figures and organizations. Background and Collaborative Journey The evolution of Innara Health’s transformative medical device has been fueled by a collaborative effort involving key players in the healthcare and investment sectors. The journey, which began in with FDA clearance in 2008, pivoted in 2019 when Keith Molzer, Founder and Managing Partner of Flyover Capital and Innara Health Board Chair, played a pivotal role in recruiting Chris Mathia already with Innara Health as Vice President of Sales in 2017, to ascend to the role of CEO. A crucial turning point for Innara Health came through Keith Molzer’s enduring relationship with BioHealth Innovation’s President & CEO, Rich Bendis, leading Innara Health to engage BHI’s services as a client and eventual portfolio company. BHI facilitated Innara’s pursuit of non-dilutive funding through application for SBIR grants, identified key opinion leaders (KOLs), partners, and connected them with the investment community. One of these connections led Innara to Ethel Rubin, Ph.D., an Entrepreneur-in-Residence (EIR) with BHI, who joined Innara’s Board of Directors. Ethel and Rich’s involvement led to a cascade of connections, including a meeting with Kolaleh Eskandanian, Ph.D., MBA, PMP, and Chief Innovations Officer from Children’s National Hospital, leading to Innara Health becoming a portfolio company of the National Capital Consortium for Pediatric Device Innovation (NCC-PDI). This connection provided invaluable guidance, placed Innara in front of influential clinicians and opinion leaders, and ultimately led to their participation in the MedTech Innovator 2021 Pediatric cohort – a six-month accelerator program. During this period, Innara Health secured $50,000 in non-dilutive funding from the FDA through the Children’s National and MedTech Innovator’s Accelerator and Venture Competition, “Make Your Medical Device Pitch for Kids.” The Path to Cardinal Health As Innara Health’s trajectory progressed, the company embarked on a redesign of its innovative NTrainer™ System medical device. Through her guidance and position on Innara’s Board of Directors, Ethel Rubin connected Innara with Strategic Lifesciences investment banking firm Outcome Capitol. Outcome Capitol played a pivotal role in introducing Innara Health to numerous strategic healthcare companies, resulting in Cardinal Health’s interest in Innara. This union marks a significant milestone as Innara Health’s pioneering technology becomes integral to Cardinal Health’s mission to enhance neonatal care. With this strategic integration, Innara Health’s innovative approach to improving neonatal feeding outcomes is poised to have a broader impact under the auspices of Cardinal Health. This collaboration aligns with Cardinal Health’s reputation as a trusted industry leader, combining their distribution prowess with Innara Health’s cutting-edge neonatal care solutions. “The trajectory of our organization changed immensely once we engaged with BHI,” shared Chris Mathia, CEO of Innara Health. “The access to BHI staff with deep domain expertise, their guidance, the introductions to KOL’s, and the sheer number of opportunities we were presented with was both staggering and critical in our journey. Dr. Rubin’s guidance as a board member was particularly invaluable. It was a luxury, especially for a small med-tech company based in Kansas, to have daily access to someone with her experience and network. Her impact, as was BHI’s, was instrumental to our success.” “The result of Innara Health and The NTrainer becoming an innovation addition within Cardinal Health’s nutritional delivery portfolio of solutions demonstrates the depth of BHI, its resources, and networks that help our clients,” noted Rich Bendis, President & CEO of BioHealth Innovation, Inc. “We take pride in fostering collaborations and connections that propel innovative healthcare solutions forward. This achievement demonstrates how BHI’s dedicated support empowers our clients to develop groundbreaking technologies and successfully navigate the complex landscape of healthcare industry partnerships. We congratulate Innara Health and celebrate this integration as a testament to the strength of the BioHealth ecosystem.” For the original press release regarding Cardinal Health’s launch of the NTrainer™ System 2.0 and Innara Health’s integration, click here .