CareSource Indiana invests $500,000 in myBiometry to revolutionize chronic disease management

Investment to support groundbreaking asthma detection technology

INDIANAPOLIS (CARESOURCE) – CareSource Indiana, a leading nonprofit health plan, announced today a $500,000 investment in myBiometry, a health care technology company developing a novel solution aimed at identifying the risk of an asthma attack up to 20 days in advance. This investment, managed in partnership with Elevate Ventures, underscores CareSource's commitment to leveraging innovative technologies to improve health outcomes for Hoosiers.

myBiometry's technology represents a breakthrough in managing asthma, a chronic condition affecting approximately 11% of adults and 6.3% of children in Indiana, according to data from the American Lung Association and the Indiana Department of Health. By enabling early intervention, this system aims to significantly enhance health outcomes for individuals with asthma, particularly in communities with high rates of respiratory conditions.

This investment also marks a pivotal step toward advancing health equity and outcomes in Indiana, as asthma is more prevalent in certain racial, ethnic, geographic and socioeconomic groups. By investing in myBiometry's innovative solution, CareSource Indiana will support the clinical value of early asthma detection, helping to build a model that could be scaled to improve asthma care nationwide. The partnership aligns with CareSource’s broader strategy to support solutions that address social determinants of health and foster long-term well-being for Hoosiers and members across the country.

"Investing in innovative solutions like myBiometry aligns with our goal of improving health outcomes," said Steve Smitherman, president of CareSource Indiana. "This collaboration not only has the potential to transform asthma care but also to enhance the overall quality of life for our members. We are proud to invest in a company aligned with our dedication to health equity and innovation."

Bryan Nolan, founder, CEO and chairman of myBiometry, expressed enthusiasm about the partnership, "We are excited to partner with CareSource Indiana as we work together to transform asthma management. Our goal is to empower individuals and health care providers with the tools they need to prevent asthma attacks before they happen, significantly improving quality of life and reducing health care costs."

Toph Day, CEO of Elevate Ventures, emphasized the importance of the investment, "Supporting companies like myBiometry aligns perfectly with our focus on driving innovation that has a measurable impact on health and well-being. In addition, CareSource Indiana’s strategic investment further supports groundbreaking solutions needed to address complex health challenges. We believe myBiometry’s technology will set a new standard in asthma care, and we are excited to be part of this journey."

The investment in myBiometry is part of CareSource Indiana’s broader approach to backing innovative health solutions that address critical health challenges. By collaborating with companies like myBiometry, CareSource Indiana continues to advance its efforts to improve health outcomes for Hoosiers.

About CareSource 

CareSource is a nonprofit, nationally recognized managed care entity with over 2 million members. Since its founding in 1989, CareSource administers one of the largest Medicaid-managed care plans in the U.S. The organization offers health insurance, including Medicaid, Health Insurance Marketplace, and Medicare products. As a mission-driven organization, CareSource is transforming health care with innovative programs that address social determinants of health, health equity, prevention and access to care.

For more information, visit us at www.caresource.com/in/plans/, or follow us on X, formerly known as Twitter, LinkedIn or Facebook.

About myBiometry

myBiometry is a health technology company dedicated to empowering patients and health care providers through advanced biometric monitoring solutions. Our platform provides real-time health insights that help individuals manage chronic conditions more effectively, improving outcomes and quality of life. Headquartered in Massachusetts with operations in Indiana, myBiometry is at the forefront of innovation in health care technology. Learn more at www.mybiometry.com. myBiometry’s products are currently in development and have not yet been approved by the FDA.