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UpLyft

The 1st self-transfer system between bed and wheelchair

USA, California
Market: Appliances, Medicine, Another
Stage of the project: Prototype or product is ready

Date of last change: 14.09.2021
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Idea

UpLyft™ is the first FDA-compliant self-transfer system between bed and wheelchair for individuals with limited mobility. In 1 minute, a person can self-transfer him/herself with UpLyft from a flat/supine position in bed into their wheelchair or vice versa. UpLyft replaces slings, body boards, and other inferior lift-to-stand mechanisms that require nursing assistance and physical force for patient transfer. Back injuries to U.S. healthcare workers from patient lifting now total ~$20 billion annually.

Current Status

In June 2020, we launched our digital footprint for UpLyft (website, social media, email marketing) and obtained ~$84,000 in open pre-order commitments with spending a mere $3,350 in digital advertising over a 60 day period. Today, UpLyft has secured ~$120K in deferred revenue from pre-order customers. These customers consist of our intial target market of at-home consumers.

Our manufacturing partner, D&K Engineering, offers world-class turnkey manufacturing services for multi-national medical device and consumer product businesses. With their expertise, we have perfected UpLyft’s patented core design, finger panels and dual controls. UpLyft has been reduced to practice under several prototype evolutions, and our UpLyft prototype 8.0 is now ready to go through FDA-compliant mass scale manufacturing with D&K.

UpLyft is now commencing manufacturing with D&K to fulfill the ~$120K received in pre-orders from at-home consumers in need. Our $2.5M raise will enable us to scale manufacturing and pre-sell the next 100 units via our national DRTV and digital marketing campaign.

Market

The Total Addressable Market (TAM) has 2 major segments: home care and institutions.

1. Consumers at home: Individuals with mobility challenges (spinal cord, Parkinson's, MS, ALS, muscular dystrophy, obesity, seniors) who require assistance transferring between bed and wheelchair on a daily basis.

2. Healthcare Facilities: Hospitals, nursing homes, rehabilitation centers, bariatric clinics, hospice, and other care facilities where healthcare workers transfer patients from beds into wheelchairs, onto gurneys, or other transport devices.

These 2 markets combine for an estimated $19.6 billion TAM in the U.S. based on a $5,995 price in each segment. The global market is expected to be 4 times the U.S. market for a global TAM of $78.4 billion.

The U.S. home market dominates with over 3M people requiring assistance getting in and out of bed daily, whereas healthcare institutions account for 260K units.

Problem or Opportunity

A critical need exists to safely and efficiently transfer physically impaired patients between beds, gurneys, and wheelchairs in private homes and institutions. Over 3M people in private homes require assistance to get in and out of bed every single day. In institutions, rates of musculoskeletal injuries from overexertion in healthcare occupations are among the highest of all U.S. industries. Over 52% of caregivers report chronic back pain, costing the healthcare industry $20B annually in workers compensation claims.

Solution (product or service)

UpLyft™ is the first FDA-compliant self-transfer system between bed and wheelchair for individuals with limited mobility. In 1 minute, a person can self-transfer him/herself with UpLyft from a flat/supine position in bed into their wheelchair or vice versa.

UpLyft is for…
- Consumers at home, providing them with independence via the self-transfer system;
- Healthcare facilities, reducing workers’ compensation liabilities related to patient-lifting injuries.

The motorized system features two sets of “finger panels” that wrap around the patient’s thighs and torso in both the sitting and prone positions. Dual controls can be operated by either the patient or caregiver. UpLyft replaces slings, body boards, and other inferior lift-to-stand mechanisms that require nursing assistance and physical force for patient transfer. UpLyft is both a self-transfer solution for patients and a 'zero-lifting' solution for caregivers and healthcare workers.

Competitors

While the below listed companies sell an array of mobility equipment, none of them are equipped with a known FDA-compliant lift system that can allow a person to self-transfer (without caregiver assistance) from a horizontal position in bed into their wheelchair (and vice versa).

• Surehands (HandiMove)
• Liko (Hill-Rom)
• Prism Medical

Current patient transfer systems manufactured/distributed by the above competitors include fabric slings, sit-to-stand lifts and scissor lifts. In addition to requiring a caregiver, these alternative lifts require physical labor, cause injuries to the patient/caregiver, are time-consuming and have weight limitations.

Advantages or differentiators

UpLyft's competitive advantage:

- No other FDA-compliant self-transfer system exists for patient transfer
- We have 15 patents issued
- Patented finger panels safely lift the patient to and from bed without pinching the skin
- Transfer takes about 1 minute (versus the 10-30 minute average transfer time)
- Extra-wide hospital grade model supports up to 600 lbs
- Home care price point of $5,995 is significantly lower than the cost of an in-house caregiver
- Assisted transfer requires no outside physical force, reducing caregiver back injuries
- UpLyft improves the quality of life for both patients and caregivers

Finance

For the home care market, UpLyft is sold at the conservative price point of $5,995/unit. We currently have $120K+ in pre-orders from customers willing to pay cash in hand.

For healthcare institutions, we plan to sell one portable unit per 10 beds on the basis of reducing workplace injuries. Our extra-wide hospital grade model has a current price point of $10,995.

By 2025, we expect to be generating over $124M in revenue with $23M EBITDA.

Business model

Initial marketing of UpLyft has been directed towards individuals for at home care via the company’s proprietary digital marketing, e-commerce, and social media platforms. All pre-orders to date have been obtained via digital marketing activities and our e-commerce platform. Longer term, direct reach to at- home consumers will be maximized via television advertising (DRTV) programs and targeted television media campaigns in sel ect metropolitan areas.

To date, the company has generated ~$120K of pre-order commitments with less than $10K in digital advertising spend, indicating that initial digital marketing efforts will be extremely cost efficient (fr om a return on ad spend “ROAS” perspective). These pre-order customers will receive initial production units from which we expect to monitor and generate positive customer testimonials.

Our longer-term DRTV marketing program will be supported by tailored e-commerce and digital marketing activities that drive purchaser, patient, and caregiver awareness. We also intend to establish meaningful presence at trade shows that are well attended by nurses, caregivers, and home-health organizations.

For the institutional setting, direct sales efforts via in-house sales personnel will initially be directed to nursing homes, assisted living facilities, and hospitals. Sales efforts will generally target Heads of Health & Safety, Directors of Nursing, and owners/CEO’s/CFO’s – all who know first-hand the burgeoning workers compensation costs, claims overages and denials due to employee injuries caused from patient lifting. We are a “demo to close” 3-step sales model within institutional facilities (outbound sales call, in- person demonstration to close, installation & training).

Money will be spent on

Our $5M raise will enable us to scale manufacturing and pre-sell the next 100 units via our national DRTV and digital marketing campaign.

Use of Funds:
R&D 60%: D&K full commercialization process, manufacture & install next 100 units, manufacturing efficiencies to lower COGS, 500 units in inventory
General & Admin 10%
Sales & Marketing 30%: Hire sales reps & customer success personnel, launch nationwide digital marketing and DRTV campaign

Offer for investor

Terms: TBD (e.g. $12M Pre-Money)

Team or Management

Won the competition and other awards

October 2019: $100K Winner of the 2019 MyEO Angel Shark Competition
June 2021: Finalist in the 2021 San Diego Angel Conference with a $100K Investment Secured

Invention/Patent

UpLyft has twenty-one (21) different patents submitted, published, pending, or issued in the U.S. and throughout various major foreign countries. To date, Patent Cooperation Treaty (PCT) searches have found zero prior art.

With our patent estate, fifteen (15) patents have been issued (3 in the U.S and 12 foreign) with the remainder either published (e.g. available for public review) or pending for issuance.

Some of our key patents issued include:
• Patient lifting apparatus, U.S. Utility, #10238565, 3/26/2019
• Patient lifting apparatus, Europe Utility, #3197416, 4/24/2019
• Curvable panel for patient lift, U.S. Design, D846744, 4/23/2019
• Curvable panel for patient lift, International Design, DM/094 811, 9/22/2017

Of our twenty-one (21) patent filings, nine (9) are utility patents and twelve are (12) design patents. Our utility patents provide the primary legal coverage against competitors by protecting our innovative concept, function, configuration, and specific claims related thereto.

Photos

Photo 1 - The 1st self-transfer system between bed and wheelchair
Photo 2 - The 1st self-transfer system between bed and wheelchair
Photo 3 - The 1st self-transfer system between bed and wheelchair
Photo 4 - The 1st self-transfer system between bed and wheelchair
Photo 5 - The 1st self-transfer system between bed and wheelchair

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video