BetterCells Ltd hosted an initial public offering (IPO) session this week in Perth, outlining the health management company’s wellness hub and conducting spot tests using the OligoScan spectrophotometry product.
The privately held company has focused its attention on global markets, viewing the US$2.2 trillion healthcare crisis – and its $170 billion Australian counterpart – as growing problems which can potentially be mitigated with better preventative care.
BetterCells founder and managing director Andrew Haythorpe delivered the IPO presentation, describing the online hub as ‘filtering out the noise’ in the functional and integrative medicine markets.
BetterCells’ platform allows users quick easy online consultations with their preferred practitioner from the comfort of their own home.
The system securely stores health data, providing individuals with more control over their own path to wellness.
The company has plans to float this year or next and is considering its options of where to list.
Haythorpe told Proactive Investors that they were ‘exploring where the best cost benefit would be’, pointing out that North American markets would provide a significant opportunity.
He noted, however, that there ‘seems to be huge untapped market potential in Asia’, contrasting that benefit against the better level of existing service and infrastructure within the health space in North American markets.
As part of the information session, BetterCells conducted spot tests using the OligoScan product to detect trace elements and heavy metal intoxication in human tissue.
Haythorpe presented some of his own results, having found his iodine, phosphate and selenium levels needed raising, and that he had high levels of mercury and cadmium.
OligoScan is a handheld spectrophotometry device, originally manufactured by French company Physioquanta, which measures the absorbance level or the optical density of a specific chemical or mineral substance.
Due to different densities, different types of compounds will emit or reflect light over a certain range of wavelengths.
Tom Andrew, one of BetterCells’ connected practitioners and a pharmacist at Captain Stirling Pharmacy, told Proactive Investors that the customer response to the OligoScan was very positive.
He said that one of the interesting aspects of the test results was seeing correlated levels of minerals within family members, which represent the beginnings of BetterCells’ aspiration to utilise big data to further refine its testing and integrative capabilities.