Meet MemoryWell
The newest member of the Inflect Health portfolio
As the saying goes, “moments may come and go, but memories last forever.”
But what happens when those precious memories begin to slip away, and your ability to function with them?
We’re talking about dementia.
According to the Alzheimer’s Association 1 in 3 seniors dies with Alzheimer’s or another dementia, and it kills more than breast cancer and prostate cancer combined. Moreover, in 2021 Alzheimer’s and other dementias will cost the nation $355 billion, and more than 11 million Americans provide unpaid care for people with Alzheimer’s or other dementias. Dementia is a painfully devastating group of degenerative conditions that wreak havoc on a person’s ability to function, and one that medical practitioners and caregivers have struggled to find solutions for for decades, if not centuries. Many companies have come forth with products and tools for dementia but there’s one of note that recently came to our attention with a truly viable solution to help ease the pain felt by patients.
Meet MemoryWell, a digital data platform that promotes person-centered care through life storytelling.
Led by founder Jay Newton-Small, a national correspondent for TIME Magazine and author of Broad Influence, MemoryWell’s origin story was born from her own journey of navigating her late father’s healthcare experience as he battled Alzheimer’s. As Newton-Small describes in MemoryWell’s founding story, moving her father into an assisted living facility was one of the hardest days of her life and opened her eyes to ways in which long-term care programs for the elderly fall short, beginning with the 20-page onboarding questionnaire she received that day. A national journalist for more than 15 years, Newton-Small turned what might have been rigid, dry documentation of her father’s life into a beautifully-written, fascinating narrative about Graham Newton-Small’s many accomplishments. She gave her father’s story new life, and in the process empowered his caregivers with the information they needed to soothe him in tense moments. Her father’s near-daily rages subsided and he became more amicable, even in the face of his battle with dementia. MemoryWell was born.
Today, approximately five years since MemoryWell’s founding, Newton-Small and her growing team show no signs of slowing down. The platform that Jay built allows seniors and their families to build captivating timelines of their lives complete with photos, videos, letters and more, then matches them with professional writers to complete the story. The objective? To better introduce patients to their caretakers, improve the quality of care delivered and help ease the pain and confusion felt by those struggling with dementia.
“At MemoryWell, we are on a mission to deliver a world-class digital data platform that promotes person-centered care through life storytelling and are committed to helping those suffering from dementia,” said MemoryWell CEO Jay Newton-Small. “We take great pride in our ability to ease the struggles of so many patients and look forward to growing our platform swiftly as more medical practitioners realize the potential of our solution.”
MemoryWell’s impact and promise is rapidly gaining traction nation-wide. The company has partnered with more than 40 care providers since 2017, working in Alzheimer’s and dementia care, senior living, home care, Medicare Advantage plans, hospice and palliative care. MemoryWell also just announced $2.5 million in seed series funding which it will use to scale its platform and continue to build its predicate social determinants of health AI rating system. They’ve also revealed plans to launch large-scale pilots with Prospero Health, a home-based supportive care company, and PCH Mutual Insurance, a national insurer of senior living providers.
As for Inflect Health’s role in MemoryWell’s journey, we are proud to announce that the company is the latest addition to our growing portfolio of healthtech companies. We’ll be supporting Newton-Small and her team as strategic healthcare investors, providing guidance on how best to develop, scale and deploy the platform in the months and years to come.
“Having enjoyed the stories and wisdom from my grandparents, I frequently wonder what stories my patients with dementia have, but tragically are unable to share,” said Inflect Health CEO Rick Newell, MD MPH. “We are thrilled to be partnering with MemoryWell as they enable seniors and their families to create an impactful life story that empowers us caregivers to best care for them as their memories slip away.”
We can’t wait to watch MemoryWell grow with our support and help the company in its mission to support those suffering from dementia.
For more information about MemoryWell, how it works and how to get involved visit MemoryWell.com and be sure to follow them on Facebook, Twitter and LinkedIn.
