Dr. Ikenna Okezie is Chief Executive Officer and co-founder of Somatus, a $2.5 billion market leader in value-based kidney care. His healthcare start-up is based in Virginia United States and is set to revolutionize the way kidney disease is managed and treated.
According to Shoppe Black, a leading curator of black businesses globally, Somatus was founded in 2016 and has grown to become a leader in kidney care with a focus on prevention and enabling patients to take better control of their health.
BackgroundÂ
Dr Ikenna Okezie was born in Nigeria but moved to the United States at the age of two. He was raised in Detroit and his attraction to medicine was influenced by the fact that his father and elder brother are physicians. But his close-knit family has always encouraged him to widen his net and go into business.
He majored in Economics at Yale, where he graduated cum laude before moving to Harvard Medical School in 1994. He earned high honors and honors in all clinical rotations.
Three and a half years into his medical degree, he followed his passion for business by applying for the Havard Business School where he was accepted and his journey into health-related business started.
SomatusÂ
Somatus was founded by Dr. Ikenna Okezie in 2016 and has grown to become a major market leader in kidney care focused on early detection and prevention in the United States.
With the help of cutting-edge technologies and strategic partnerships, Somatus offers hope to millions affected by chronic kidney disease, promising a new era of compassionate healthcare.
Business model
Somatus fills a gap in traditional kidney care which often involves dialysis for late-stage disease. Somatus improves upon this model by exploiting technology to emphasize early detection and prevention.
Somatus uses an advanced health technology known as the proprietary RenalIQ platform to achieve its goal. This AI-powered platform uses machine learning and analytics to track patient health, identify at-risk individuals, and offer telehealth and virtual care options.
Somatus also broadens its approach by entering a partnership with local nephrologists, primary care physicians, and health plans. This approach provides patients with personalized care and ample knowledge they need to manage their conditions effectively.
Market share and valuationÂ
In 2022 Somatus served over 150,000 members across various health plans. It also, in that same year, raised over $325 million in Series E funding.
This deal was ranked as one of the biggest healthcare VC deals of 2022, valuing the company at over $2.5 billion.
What to KnowÂ
- Over 37 million Americans have chronic kidney disease, underscoring the potential need for Somatus and room for expansion.
- As of 2022, Dr Ikenna Okezie was valued at $250 million when his company Somatus was valued at $2.5 billion during a successful series E funding.
- Somatus was named among the 10 healthcare companies to hit a $1 billion valuation in 2022.
