Modular Medical: Reinventing Diabetes Care
People with diabetes can still live fully-functioning lives thanks to Modular Medical.
In the US alone, more than 37 million people have diabetes, and 1 in 5 don’t know they have it.
Rapidly becoming the 7th leading cause of death in the States, diabetes is making people believe their lives should be led differently than usual, but not if Paul DiPerna has a say in it.
To help diabetes patients feel good about themselves, Paul devised an approach that would reinvent diabetic care that was practiced until 1998. Using all of his knowledge to devise a medical asset that will help struggling diabetics control the disease, Paul made his vision a reality. His company, Modular Medics, designs technologically-advanced insulin pumps and brings ease into the lives of all diabetic users.
Continue reading the inspiring story of a man that reshaped the treatment of one of the 21st century’s most common diseases.
The Beginnings of a Hard-working Man
The story of Paul DiPerna begins with a curious young boy, interested in his surroundings and what the outside world holds. He would spend countless hours exploring his neighborhood, turning every stone to see what was underneath.
From the moment he was born in 1958, Paul’s parents showered him with love and support. His upbringing led Paul to grow up into a confident young man who wanted to experience the world first-hand and make a difference.
As years went by, Paul started to show strong leadership skills, naturally presenting himself as the go-to person among his friends.
Eager to learn, Paul completed his high school education and continued to expand his knowledge at the University of Massachusetts, earning himself a Bachelor’s degree in Science in Mechanical Engineering. Afterward, he headed to Northeastern University to obtain a Master’s in Engineering Management.
As faith would have it, Paul would become involved in the health industry without knowing that he would change many people's lives.
One Simple Idea is All it Takes
With the confidence and knowledge he gathered after graduating from the University of Massachusetts and Northeastern University, Paul tried his luck on several projects. However, nothing felt fulfilling until he finally found his trademark company - Modular Medical.
Paul always had a knack for helping people in different ways, whether it was supporting his friends from a young age or assisting medically-challenged individuals in the years to come.
Being highly interested in the health industry, Paul couldn’t stand still until he made a difference that mattered - offering a more convenient solution for diabetes. Becoming aware of how diabetes affected people's everyday lives, Paul knew there was something more to be done. This drove him to establish Tandem Diabetes Care Inc. - the predecessor of Modular Medical.
Little did Paul know how this move would lead him to set up another company that’ll reshape the existing diabetes treatment.
Life-changing Treatment for Everyone
Modular Medical was founded in 1998 in San Diego due to Paul’s ingenuity to offer a more suitable diabetes treatment accessible to every diabetes-struggling patient. The smart-tech company had a goal to bring back hope and emancipate the diabetes community, delivering sustainable treatment outcomes.
Thanks to the devices developed at Modular Medical, today, more diabetes patients gain access to insulin pumps that were otherwise too expensive to attain.
Paul knew that the diabetes market was still untapped, and there was room for improvement. His humanity didn’t let him rest as he knew many people couldn’t afford the necessary insulin pumps at that time.
As he discovered, there’s a group of diabetes patients called ‘almost pumpers,’ diabetes patients that would use an insulin pump if it wasn’t that expensive. A staggering number of 30% of diabetes patients in the US are ‘almost pumpers’ - a fact that horrified Paul and led him to his most significant invention.
Modular Medical’s Superstar
Paul’s company takes much pride in its flagship product - the MODD1, an advanced insulin pump specially designed to open access.
What makes this tiny gadget a life-saving product is its lifespan of 90 days of perpetual use. Due to the cutting-edge microfluidics technology, this insulin pump enables low-cost insulin pumping.
Diabetics will no longer have to cut back on quality treatment due to restricted access or overpriced insulin pumps. Diabetes care for everyone - as was Paul’s motto from the start.
Every Obstacle Is an Opportunity in Disguise
When Paul and his team went through the numbers of diabetes patients in the US, they were appalled by the facts. Namely, 32% of the population used insulin pumps to manage their condition. Moreover, 68% of diabetics need multiple injections daily to stay on top of their disease's challenges.
Being strong-willed and enthusiastic, Paul took on the task of developing a gadget that would ease diabetes control and offer affordable treatment for struggling patients. His brainchild, Modular Medical, became the company that seized the window of opportunity and divided a solution to a burning issue.
Funding the Dream
To fill the gap in the health procurement sector, Paul and his team needed to attract investors that believed in their shared dream.
With strong convictions that the noble cause of delivering proper medical care to those in need will sit well with the potential investors, Paul went through 3 funding rounds. The company managed to raise a total of $10.8M which proved to be enough for Paul to turn a prospect into success.
Modular Medical’s latest funding was from a post-IPO debt round on May 12, 2021. Registered under the OTCQB: MODD ticker, Paul’s company currently has 80 shareholders. However, Modular Medical’s only investor is Varana Capital.
Everything is Possible iF You Believe
Even though Paul’s vision attracted the attention of only 1 investor, he didn’t believe in quitting and even pushed forward much harder to make sure his idea was shaped into a product.
Being in the same business as Medtrum, Impel NeuroPharma, HeartBeam, and OmniCure, Modular Medical had to fend off the competition successfully and persist in the cut-throat healthcare industry.
Even though his dream was not shared by many, Paul did all he could to ensure the company stayed on the right track and offered diabetic patients affordable treatment.
Apart from the financial help, Paul knew he would need more help to make his dream a reality. That’s why he expanded his team to around 20 like-minded people, each an expert in the field of tech, healthcare, and medicine in general. Together with his employees, Paul worked hard to develop and execute a treatment model that will help more than 37 million diabetics in the US.
The Future Is Modular
Modular Medical’s headquarters are still located where it all started - in San Diego, CA.
Today, the company proudly holds seminars and teaches medical professionals and healthcare businesses about the advantages of using Modular Medical’s insulin pumps that save lives. The company’s business plan revolves around expanding the scope of delivering up-to-date medical care for diabetes patients, hoping to lower the percentage of the population unable to afford proper medical care.
As per the founder, Paul DiParma holds over 70 patents on different aspects of medicine like blood separation technologies, micro pumping, and systems for the care of diabetes. Thanks to his 30-year working experience, Paul knows how to engineer and deliver medical items that truly make a difference.
Although the vision stays the same, the company hierarchy has changed. Currently, Paul DiParna still poses as founder and President of Modular Medical. The CEO position has been passed on to James Basser, who continues developing Paul’s idea to make diabetes care even more affordable and accessible for everyone in need.
The journey and hardships of Paul prove one thing - when your cause is humane and you surround yourself with like-minded peers, no dream is off limits!