6/26/23 Press Release: CEOᶜ Aging Innovation Fund Makes its First Strategic Investment

July 20, 2023

Investment Directed to DUOS, a Digital Health Company Empowering Older Adults to Live Independently

LOUISVILLE, Ky. (June 26, 2023) – CEOᶜ announced today that it has made its first strategic investment from the Aging Innovation Fund, a $50 million venture capital fund that invests in startups that provide digital healthcare solutions to the aging population. The $10 million venture round financing of DUOS, a digital health company focused on helping older adults stay connected and age independently, was coled by the Aging Innovation Fund, Primetime Partners and SJF Ventures.

“We are so excited to announce our first investment from the CEOᶜ Aging Innovation Fund,” said Tammy York Day, president and CEO of CEOᶜ . “Through our innovation engine, we have identified many great startups in the aging space but often these companies struggle for the capital needed fo grow. The CEOᶜ Aging Innovation Fund allows us to bridge the funding gap for these highly innovative companies, unlocking more opportunities to scale.”

Launched in 2020, DUOS provides a full suite of technology and engagement products for health plans, providers and employers. Tapping into over 100,000 different Medicare Advantage plan benefits and more than $30 billion in unclaimed public benefits, DUOS identifies the right plan benefit, community resource or government program at the right time, thereby driving increased member satisfaction in older adults, reducing stress and burden on caregivers and addressing critical care gaps for health plans.

"We're so pleased to welcome the CEOᶜ Aging Innovation Fund as a new investor in DUOS,” said Karl Ulfers, co-founder and CEO of DUOS. “The Aging Innovation Fund and Castellan Group are leaders in the aging innovation space, and their investment in DUOS is reflective of our strong track record of success at addressing aging needs. This funding will allow us to continue investing in our underlying technology and expand our impact with more older adults and caregivers."

Managed by Castellan Group, the CEOᶜ Aging Innovation Fund fills a critical void in the healthcare and senior industries, in which early-stage entrepreneurs often lack the necessary funding and coordination to bring novel technologies to market. The value in the Fund is unlocked by its strategic partners, an unmatched network of top industry operators and experts across the entire continuum of care. Unlike any other strategic investment fund in the nation, the CEOᶜAging Innovation Fund furthers job creation and improves health outcomes.

“DUOS is a prime example of how our investment thesis overlaps with improving patient lives in a meaningful and tangible way,” said Barry Brauch, managing director at Castellan Group. “We believe that our Aging Innovation Fund has never been more needed or relevant. Our established connections of industry operators and access to the entrepreneurs of tomorrow make us well positioned to capitalize on market tailwinds and to showcase our extensive experience in digital healthcare.” The first investment from the CEOᶜ Aging Innovation Fund is preceded by a thorough evaluation from subject matter experts, a robust process of due diligence and a final decision by its expert investment committee.

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6/26/23 Press Release: CEOᶜ Aging Innovation Fund Makes its First Strategic Investment

Investment Directed to DUOS, a Digital Health Company Empowering Older Adults to Live Independently

"As a community, we face considerable healthcare access, affordability, and quality challenges, particularly for our aging population. Overcoming these challenges requires innovation, cooperation, and communication among all parts of the healthcare system."

"It is exciting to work with industry leaders who have the common goal of transformative care delivery We are focused on improving outcomes and quality for all citizens in all of the communities that we collectively serve."

"At BrightSpring, we are essential to the nation’s healthcare strategy as a high touch provider for complex populations. We have the consensus of confidence needed to expand our continuum of care into areas of healthcare that need a new approach."

"We are a family of physical therapy and occupational therapy companies transforming healthcare by strengthening private practices, developing and educating highly effective clinicians, and lowering healthcare costs through workplace wellness and injury prevention."

"I believe that aging innovation will change the face of healthcare. I am honored to be a part of a local team that will help set the stage on a national level, as a catalyst for the advancement of one of the most important issues of our time."