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St. Louis talent and St. Louis investment have led Healthy Bytes to relocate its headquarters from New York to St. Louis. With investments from Cultivation Capital and BioGenerator in the $1.25 million, over-subscribed Series A financing round, Healthy Bytes enters a $2.6 billion market with its health care platform that improves lives through nutritional counseling by connecting Registered Dietitians to employers, providers, and patients.
The growing obesity epidemic, driving record numbers of patients with diabetes, high blood pressure and orthopedic issues, is causing employers and physicians to seek solutions. With overwhelming recognition of the critical role diet plays in health achievement and maintenance, nutritional counseling provided by Registered Dieticians is sought as the gold standard.
Insurance companies pay for nutritional services, yet they are underutilized, because the majority of Registered Dieticians are unorganized and underemployed, making them difficult to find and hire. Healthy Bytes’ solves for this challenge by providing new employment opportunities, insurance plan credentialing, contracting, back-office needs, and billing and claims resolution for Registered Dieticians.
Under new leadership by Chief Executive Officer Dr. Mary Jo Gorman, Healthy Bytes has evolved from a claims processing company to a tech-enabled services company. Its new offices are located at the CIC@CET Building at 20 South Sarah in the City of St. Louis.
“I was looking for a company that would thrive in St. Louis, and I have found both the capital and the talent I need here – particularly in health care, where St. Louis is rich with world-class hospitals and institutions – to grow this business,” Dr. Gorman said. “I’ve had success growing several companies here, and I wanted another opportunity to contribute to the rising excitement in St. Louis around company development. Support from St. Louis investors BioGenerator and Cultivation Capital will allow us to create another great health care business in St. Louis.”
This is Dr. Gorman’s fourth startup company to lead. Prior companies include Critical Care Services, InPatient Care Group, Advanced ICU Care.
“This is an attractive investment for BioGenerator. Dr. Gorman is a powerhouse of proven talent, who has recognized a fragmented market with an opportunity to consolidate,” said Dan Broderick, BioGenerator Vice President of Investment. “With healthier lifestyles trending widely, and businesses recognizing that healthier employees lead to less time off work and lower insurance premiums, Healthy Bytes is poised for growth.”
“With Dr. Gorman’s leadership, Healthy Bytes is well-positioned to become a leader in this underserved market in need of disruption,” said Bill Schmidt, Cultivation Capital General Partner. “Cultivation Capital is proud to invest in this new St. Louis-based company.”
Diōko Ventures and New York Angels also participated in the Series A.