DealMakers Evan Richardson On Raising $65 Million To Build A Virtual Clinic Offering High-Quality, Science-Based Obesity Care
Oct 16, 2024
Evan Richardson, founder of Form Health and an expert in consulting and private equity, shares his entrepreneurial journey in revolutionizing obesity care. He discusses the hurdles of raising $65 million for his virtual clinic and emphasizes the importance of teamwork and supportive networks in entrepreneurship. Richardson reflects on navigating health tech's challenges, the evolution of healthcare services, and his vision for accessible cardiometabolic care. His insights weave together personal growth, industry dynamics, and the future of medical accessibility.
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Value of Differentiation
- Doing what competitors do only achieves top quartile performance but not true differentiation.
- Real business success requires focusing on areas where you can be meaningfully different.
Failed Startup Lesson
- Evan Richardson shares his first founding attempt in financial services, which failed due to lack of responsiveness to data and team mismatch.
- Despite investing heavily, the project ended as a "flaming hole in the ground."
Holistic Obesity Care Model
- Form Health focuses on holistic, medication-driven obesity care treating root causes and comorbidities.
- They deliver high-value outcomes mainly through employer partnerships who fund the treatments.
