Can a business do good and do well?
The impact of what we do as a commercial enterprise is more important than the profit that we make. This is true social entrepreneurship.
We believe a business can be successful delivering health technology breakthroughs for a truly global marketplace. It is possible to produce ultra-low cost medical devices that provide clinically accurate vital signs monitoring for people in remote villages or urban communities.
We are building a business model and technology that challenges the status quo. Both are innovative. Both are the foundation for our success.
Success in our books is a financial return on making healthcare affordable for everyone, accessible everywhere. Our goal is about democratizing healthcare: how can people access the care they need and how can our technology enable that equity in care.
Innovative models of delivery are required for healthcare to be affordable and accessible – even in developed countries. By supporting and embracing new models that are being pioneered in the developing world, such as mobile health (mHealth), we can ensure a sustainable health system for our children.
Technology will enable us to build mHealth applications that will deliver the power of predictive healthcare. Current barriers to accessing healthcare include diagnosis, triage, transportation and treatment. Affordable, mobile devices with smart sensors can bridge this gap, ensuring that patients who live hours, or even days, away from healthcare can receive timely lifesaving interventions. mHealth apps will enable community health workers with limited training to overcome these barriers and make sophisticated lifesaving decisions.
In the developing world, detecting risk can be a lifesaver. That’s why the most important return on investing in our technology would be exponential: even one low-cost sensor used by one community health worker in one village could save many lives.
We’re doing well by doing good.
One of the most innovative things about LGTmedical is the business model. It’s really unusual for a business to try to make something as inexpensive as possible without sacrificing quality or features.
It’s been a huge struggle to try and convince people that the impact of what we do as a commercial enterprise is more important than the profit that we make. This is true social entrepreneurship.
Dr. Mark Ansermino
Chief Medical Officer