By Andrew Cohen
May 30, 2024
As U.S. life expectancy has fallen below that of most other developed countries, high-net-worth investors have targeted longevity and anti-aging solutions in the aftermath of the COVID-19 pandemic. About one-third of family offices have portfolios overweighted on health care investments, according to a 2023 study from Goldman Sachs.
On the cancer front, innovators include Cancer Check Labs, a blood test screening company founded by Sumit Rai of the Dallas-based Rai single-family office. CourMed, a private health concierge used by family offices and other high-net-worth individuals, counts Cancer Check Labs among its at-home services.
“What his company can do is identify cancer in very early stages, almost at stage zero,” said CourMed CEO Derrick Miles. “It’s done through a blood draw. We utilize a concierge service to come to your own home and take the blood; then it undergoes analysis, and over 200 types of early cancer can be detected, [with] a 90% chance of survival.”
CourMed members are charged $995 per test, which Miles said is lower than the standard Cancer Check Labs test priced around $1,295.
It’s common for family offices to fund causes that are personal to them, with one example being Rai’s founding Cancer Check Labs after he lost his sister to the disease. Many blockbuster drugs and therapies are developed for decades before reaching breakthrough success — an investment timeline that family offices can afford.
“Family offices are patient capital. It’s been 14 years in the making of finally getting this technology out to the masses,” Miles said of Cancer Check Labs. “Family offices have worked out all the issues around legal, accounting and insurance. They’ve solved the lion’s share of issues; now they’re looking for a competitive advantage,” he added, explaining why family offices sign up for CourMed’s at-home health care service.
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