MMRE
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Consumer Health · Convertible Note ($68M cap)

Next Health

The largest branded longevity and functional medicine clinic network in the US, with 20 locations across 10 states and nine more in development.

Key metrics

Initial investment
$50K
Current value
$50K
Entry valuation
$68M
Latest valuation
$68M
Current MOIC
1.0x
Base case
$150K
Bull case
$375K
Conviction
3/5

Key value driver

Largest branded longevity and functional-medicine footprint in the US — 20 clinics across 10 states with more in development; a membership model built on recurring revenue; strong patient reputation driving word-of-mouth growth

Primary risk

Clinic roll-outs are capital-intensive and returns depend on new locations maturing; MMRE holds a convertible note, not priced equity; software-led longevity platforms are valued very differently from clinic networks

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