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Forbes Topline

This Next Billion-Dollar Startup Raised $110 Million To Treat A Deadly Disease Virtually

Forbes Topline

Forbes

Business News, News, Entrepreneurship, Business

4.86 Ratings

🗓️ 29 August 2024

⏱️ 25 minutes

🧾️ Download transcript

Summary

With San Diego-based Equip, Kristina Saffran and Erin Parks have convinced health insurers from UnitedHealthcare to Aetna to pay for research-backed treatment for thousands of patients struggling with eating disorders. A decade after recovering from anorexia, Saffran started a company to help make this same type of therapy more accessible by offering a single online portal through which families can treat and manage a child’s eating disorder. Equip also offers wraparound services that aren’t always offered alongside in-person therapy, with the full care team including a therapist, medical doctor, dietician and peer and parent mentors. Equip’s virtual therapy is so powerful because of a shortage of specialized therapists and in-person clinics, said Saffran’s cofounder Erin Parks, 44, a clinical psychologist who previously worked at the UC San Diego Eating Disorder Clinic. Before starting Equip, Parks treated families who had flown in from all over the country seeking care. Read the full story on Forbes: https://www.forbes.com/sites/katiejennings/2024/08/15/after-surviving-anorexia-this-founder-raised-110-million-to-treat-the-deadly-disease-online/ See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi everyone. I'm Maggie McGrath editor of Forbes Women. The 10th annual list of

0:08.4

the Forbes Next Billion Dollar Startups is out now and on this list is a health care company aiming to help

0:15.8

patients with eating disorders. That company is called equip and we are joined

0:20.8

by their two co-founders today,

0:22.9

Christina Safran and Dr. Aaron Parks.

0:26.1

Thank you both so much for being here.

0:29.1

Thanks for having us.

0:31.1

Now, there's a study from Harvard that indicates that eating disorders and the unpaid

0:36.5

caregiving, the loss productivity and the treatments add up to a $65 billion economic cost every year. But Christina, your experience with

0:46.6

eating disorders and the eating disorder industry, if I may, is very personal. You've

0:51.1

joked that you've been in eating disorders all your life. Can you kind of explain what that means and how you got to this role?

0:58.0

Yeah. So I was diagnosed with anorexia at 10 years old which is young but unfortunately not that rare we treat five year olds here at a clip.

1:07.0

I talk about the fact that I had a whole lot of

1:13.7

privilege, good insurance, family that could afford to pay the lots of money out of pocket and

1:16.5

perhaps most notably I fit that stereotype of what we think eating disorders look like.

1:22.8

They actually don't have a look, they don't discriminate,

1:24.6

they affect everybody.

1:25.7

But even with all that privilege,

1:27.2

I had a pretty horrific treatment experience,

1:29.7

which is really the norm for folks with eating disorders.

1:32.2

So I spent my entire freshman year of high school,

1:34.9

not in high school, in and out of four different hospitals

...

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