Twin Health Financial Model
Health-tech Startup Financials (Free Excel Download)
AI-powered "Whole Body Digital Twin" platform that delivers personalized metabolic health guidance to reverse and prevent chronic metabolic diseases (type 2 diabetes, obesity, fatty liver disease).
professionals from Deloitte
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About this model
Twin Health uses a Whole Body Digital Twin to provide personalised metabolic-health guidance for diabetes, obesity, and related disease. Its chronic-care proposition combines data-driven guidance with an outcomes focus for members whose conditions can generate significant long-term healthcare costs.
It is sold through employers and health plans with an outcomes-oriented commercial model. Growth depends on covered lives, enrolment, engagement, PMPM revenue, device and coaching capacity, clinical outcomes, and the extent to which guarantees influence pricing, renewal, and margin.
The model forecasts covered lives, enrolment, PMPM revenue, device and coaching cost, outcomes guarantees, and contract renewal. It includes care-team labour, technology and device costs, sales cycles, gross margin, operating cash flow, cash burn, and runway.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Twin Health
twinhealth.com
How to build a detailed financial model for Twin Health
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Twin Health model - distilled from its pitch deck and publicly available information.
Product & value proposition
- The Whole Body Digital Twin™ is a dynamic digital simulation of each patient's unique metabolism, built from wearable sensor data collected daily (non-invasive).
- Delivers personalized, real-time guidance across nutrition, sleep, activity, breathing, and medication management via a mobile app.
- Works alongside healthcare providers and a care team (not a standalone consumer app).
- Goal: eliminate medications under physician supervision, reverse/prevent metabolic disease, extend healthy lifespan.
- Differentiator: first application of digital-twin technology to human metabolism; personalized vs. population-based guidelines; clinical-trial-validated outcomes.
Market
- 25% of people worldwide estimated to have metabolic syndrome
- 415 million people worldwide living with diabetes
- >500 million will have diabetes by 2040
- No explicit TAM/SAM/SOM dollar figures provided. No market-size chart in deck.
Revenue model
- Not explicitly stated in deck.
- B2B2C PMPM subscription: platform sold to self-insured employers, health plans, or provider groups; members access via their plan/employer. Standard digital-health model consistent with CCO's focus on "value-based care transformation and risk-based contracting."
- India operations (launched 2019) suggest a direct-to-consumer or clinic channel may also exist outside the US.
- No pricing, contract structure, or ARPU shown in deck.
Traction & metrics
Clinical outcomes only - no commercial traction metrics (revenue, member count, growth rate) disclosed:
- 90%+ achieved type 2 diabetes reversal
- 92% eliminated all diabetes medications, including insulin
- -3.1 HbA1c average reduction (baseline 8.7)
- 9.1 kg average weight reduction
- -24 units/L average ALT reduction (patients with abnormal baseline liver function)
- Source: ADA Diabetes journal, June 21, 2021 (RCT interim data)
- India service launched 2019
- No revenue, ARR, member count, churn, NPS, or growth rate shown.
Competition / moat
- Moat claims in deck: first RCT for reversing chronic metabolic disease with digital-twin tech; published in peer-reviewed journals (ADA, AACE, ISPOR, Endocrine Society - 6+ publications by 2021).
- Clinical validation cited as differentiator vs. "generalized population-based diet and exercise programs" and "costly medications".
- No competitive landscape slide; no named competitors.
Team & funding ask / use of funds
Team:
- Jahangir Mohammed - Co-Founder & CEO; 80+ patents, IoT Pioneer (World Economic Forum)
- Terry Poon - Co-Founder & CTO; ex-VP Engineering Jasper Technologies (IoT)
- Lisa Shah MD - CMO; ex-CMO Advantia Health, CIO Sound Evolent Health
- Maluk Mohamed PhD - Co-Founder & VP Research; runs India ops
- Christine Purcell - CMO Marketing; ex-Facebook, McKinsey
- Garrick Bernstein - CFO; ex-CFO One Medical (ONEM IPO), ex-Vestar Capital
- John Davis - CCO; 20 yrs healthcare, ex-Evolent Health
Board: Bruce Dunlevie (Benchmark Capital), Mohit Bhatnagar (Sequoia Capital India), Caroline Xie (ICONIQ Capital), Toby Cosgrove MD (ex-Cleveland Clinic CEO), Francine Kaufman MD (ex-ADA President).
Recommended financial model
- Archetype + why: B2B2C digital health PMPM subscription model. Revenue = contracted members × PMPM rate. The commercial org (CCO with value-based care background, board including major institutional VCs and health system leadership) points strongly to employer/health-plan channel deals, not direct consumer. A 3-statement model with a membership-cohort revenue build is appropriate given recurring revenue and high gross-margin software economics.
- Forecast horizon & granularity: 5 years (2022–2026); monthly for Year 1–2, annual for Years 3–5. Monthly needed to track member enrollment ramp and cash burn vs. funding.
- Key drivers & assumptions:
- PMPM rate
- Enterprise contract size (covered lives per deal)
- Number of enterprise contracts signed per year
- Member take-up rate within contracted lives
- Average contract length
- Gross margin
- Care team headcount per 1,000 active members
- India revenue contribution
- S&M as % of revenue
- R&D as % of revenue
- G&A as % of revenue
- Cash burn / runway
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: Moderate contract ramp, ~10% member take-up, PMPM ~$150
- Bull: Faster enterprise sales (2× contracts), higher take-up (15%), potential health-plan mega-deals
- Bear: Slow sales cycle, low take-up (5%), reimbursement delays; tests cash runway
- Required sheets / outputs:
- Assumptions - all drivers with toggle for scenarios
- Member Cohort Build - contracts × take-up × PMPM → ARR by cohort
- P&L (Income Statement) - revenue, COGS (care team + platform), gross profit, OpEx, EBITDA
- Headcount Plan - care team, sales, R&D, G&A
- Cash Flow / Runway - operating cash flow, funding milestones, months of runway
- Balance Sheet (simplified)
- KPI Dashboard - active members, ARR, PMPM, gross margin %, burn rate, LTV/CAC (once data available)
Frequently asked
Is the Twin Health financial model free?+
Yes. The Twin Health model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Twin Health's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
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