Biofourmis hires key Amazon executive as startup looks to expand into clinical care services

Maulik Majmudar, M.D., spent the last three years at Amazon helping the retail giant build out its Amazon Halo wearable.

Majmudar, a cardiologist and digital health leader, is moving over to Softbank-backed technology startup Biofourmis as its chief medical officer. Majmudar will help the startup build out its clinical care services, including near-term plans to offer in-home provider services that complement its care-at-home technology platform.

The Boston-based digital therapeutics company combines AI-based data analytics and biosensors to monitor the progress of medical treatment.

As chief medical officer, Majmudar will oversee product management, data science and clinical affairs, with a focus on clinical validation and demonstrating outcomes for Biofourmis.

"I'm excited about what the company has done and built to date and the opportunity that lies ahead for them," Majmudar told Fierce Healthcare. 

Biofourmis' CMO Maulik Majmudar, M.D. (Biofourmis)

Biofourmis' FDA-cleared software-as a-medical-device Biovitals platform enables care teams to remotely monitor the physiological signs of patients in both acute and post-acute settings and provides clinical teams with a real-time look at patients’ disease trajectory, which helps identify clinical decompensation at an earlier stage. 

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Biofourmis' Biovitals Hospital@Home program, which it originally co-developed with Brigham and Women’s Hospital, delivers inpatient-level care within patients’ homes. That platform includes clinical care services and non-clinical services such as program management, operations, supply chain and revenue cycle management.

Biofourmis banked a $100 million funding round back in September led by high-profile investor Softbank's Vision Fund 2. The company, which launched in 2015, has raised $144 million to date. 

The COVID-19 pandemic has accelerated the momentum behind shifting patient care from brick and mortar hospital facilities and into patients' homes. By adding clinical services to Biofourmis' technology platform, the company will offer a comprehensive at-home care platform and an end-to-end solution not commonly offered by remote patient monitoring companies, according to Majmudar.

The provider services will expand Biofourmis’ engagement with clients for its post-acute in-home care, hospital at home care and chronic condition management.

The company's expansion into clinical care services will likely include strategic partnerships to deliver in-home care.

In late 2020, the Centers for Medicare & Medicaid Services announced reimbursement parity with inpatient care for hospitals with "hospital at home" programs.

Before Amazon, Majmudar was associate director of the Healthcare Transformation Lab at Massachusetts General Hospital and an assistant professor at Harvard Medical School. Majmudar has served on Biofourmis’ clinical advisory board since the company’s inception in 2015 and on the board of directors since 2019.

RELATED: Startup Biofourmis moves into oncology with Gaido Health acquistion

Jumping on board at Biofourmis offers an opportunity to work in a more nimble environment, Majmudar said.

"Large companies are robust and they can take punches. They have the resources, backing, time and scale. Startups have to be nimble to make quick pivots and do experimentation," he said. "I'm excited about Biofourmis, and start-ups in general because they have the ability to make quick decisions and you can work with a tight, cohesive team. The pace at which you can move appeals to me. The ability to deliver and execute on your vision, that's the big challenge."

Biofourmis' vision is to become the "most comprehensive and tightly integrated care-at-home platform across a range of patient acuity levels and medical conditions," Majmudar said.

“As we expand our offerings to including in-home provider services, we will continue to demonstrate the value of our solution through improved outcomes that support both providers and insurers in value-based care arrangements that include shared risk," he said.