While
RedBrick Health is growing rapidly, its customers are shrinking.
The five-year-old health technology and services company has 85
employees currently, and it expects to add another 50 this year, says
chief marketing officer Eric Zimmerman.
The company offers health improvement programs through its consumer
health engagement platform. RedBrick has 20 clients of two types. Most
are large, self-insured employers that utilize their full product, while
a few channel partners license their social engagement platform, a
component of the larger corporate platform.
The social engagement platform was the basis for the Biggest Loser
Minnesota Challenge, now in its second year and sponsored by the
Alliance for a Healthier Minnesota.
Minnesotans lost a collective 75,000 pounds during 23 million minutes of
physical activity during the 12-week program, which ended April 15. The
challenge was expanded this year from 2010's seven corporations to more
than 22,000 people across the state.
RedBrick is measuring its success in more than shed pounds, however.
Medical device manufacturer Welch Allyn, a RedBrick client since 2007,
has seen an estimated $1.32 million in total health and productivity
savings over two years, according to a recent release. That's $443 per
year per participant, and a 3-to-1 return on investment, says RedBrick.
The Welch Allyn numbers are typical of other clients RedBrick has such
data on, but they're higher than industry averages, says Zimmerman.
The company released the fourth generation of its platform in February,
and it had raised one-third of a $15 million equity round, according to
an SEC filing that month.
Source: Eric Zimmerman, RedBrick
Writer: Jeremy Stratton