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Pingmd and Rxante Receive Fundings to Continue Product Development

FUNDINGS:

Pingmd is an app that connects parents with their child’s pediatrician. The startup behind its creation, Dauphin Health, has raised $1.33 million. The company is based in New York, and was created by Drs. Gopal and Manju Chopra. The app is free, and parents can keep track of vaccinations and allergies, as well as communicate (securely) with their child’s pediatrican.

Pingmd currently has seven employees and thousands of patients have used it so far. There are plans to expand throughout other parts of North America and into Europe. According to Dr. Gopal Chopra the app is “gear towards getting the physician the right information to make a decision.

Directors that were listed on the SEC document included Matthew Greenfield, Ernest Pomerantz, and Rudy Mazzocchi.

Sometimes it’s hard to remember to take prescribed medicine. RxAnte aims to change that. The company develops technology to help remind patients to take medications. And a few weeks ago, RxAnte received a $4.6 million investment. The investment came from Aberdare Ventures and West Health Investment.

According to BizJournals.com, RxAnte’s “technology can predict which patients are likely to stray from their scheduled drug-taking schedules, and what interventions are likely to be most effective.” This funding will help the company continue creating new technology and introducing them to the market

October 4, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.

Meta Health Technology Acquired By Streamline Health; Breakthrough, MyHealthTeams, and PatientCo Ink Receive Fundings

Aquistions

Streamline Health announced last week that the company will be acquiring Meta Health Technology, a “leading provider of health information management solutions for hospitals, clinics, physician group practices and long-term care facilities across the U.S. and Canada,” according to Red Orbit.

Streamline acquired approximately $15 million capital stock from Meta Health which was $13.4 million in cash and $1.6 million in Streamline Health Stock. Robert E. Watson, President and Chief Executive Officer of Streamline Health Solutions, discussed the acquistion:

The Meta suite of solutions, when bundled with our existing solutions, will help current and prospective clients better prepare for this challenge. In addition, the pending release of a computer-assisted coding solution (CAC) will place Streamline Health at the core of addressing the complexities of the ICD-10 transition.

Fundings

Launched in 2009, Breakthrough addresses that fact that one in four Americans suffer from a mental illness. The company is offering a way for users to contact mental health professionals through email or video. It also allows users to find providers based on various criteria including price, specialty, or disorder.

Breakthrough has raised $900k in seed funding from many different investors. The contributors included the following: Ash Patel and Mike Marquez of Morado Ventures, Charles River Ventures, Square COO Keith Robois, Badoo COO Benjamin Ling, Gus Fuldner, PracticeFusion co-founder Matthew Douglass, PayPal Director and former eHealth exec Avery Kadison, Invite Media co-founders Nat Turner, and Zach Weinberg.

MyHealthTeams is a start up that develops communities, both socially and locally, for those who live with or help those with chronic conditions. The startup announced on Tuesday a $1.75 million round today. The round was led by Adams Street Partners, with participation from 500 Startups.

According to TechCrunch.com, MyHealthTeams’ mission is:

To make it easy for people to quickly find and connect with a network of other people who are in a similar position and can understand the challenges faced via its own condition-specific social networks. In addition, members can also easily find referrals of local providers and businesses best suited to help them — and this, presumably, is part of the business model.

The funding is going toward expanding the company.

and finally, Patientco Ink raised $3.75 million in a Series A financing. The round was led by BlueCross Blue Shield Venture Partners and Sandbox Industries. In addition, as a result to the financing, the Managing Director of Sandbox Industries, Tom Hawkes, will be joining Patientco’s board of directors.

A press release concerning the financing described Patientco:

Patientco simplifies the challenges of understanding healthcare expenses for patients so they pay their healthcare providers faster. Already more than one million patients across 20 states securely receive, pay and track their healthcare expenses via Patientco. Patientco’s proprietary technology integrates with physician and hospital information systems to provide a comprehensive communication, payment and reconciliation solution.

Sandbox Industries invested in the company to help develop and further Patientco’s solution and “to solve the increasing healthcare payments problem.”

Thank you to Rockhealth.com for putting together a list of fundings and acquisitions each week. Be sure to check out their weekly newsletter!

September 20, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.

Predilytics, InCrowd, and Doximity Receive Fundings and Plan to Expand

FUNDINGS

A Facebook for doctors? That’s what Doximity is being called. It started out as a LinkedIn for doctors, but with the addition of a news feed, it’s turning more Facebook-like. The company recently raked in $17 million series B round fundings. It was led by Morgenthaler Ventures, along with participation from Emergence Capital Partners and InterWest Partners.

This is the second round of funding that Doximity has received, which is when the company grew the most. It is a free, social networking tool that is secure and allows doctors to discuss patients, which cannot occur with regular social networks or text messaging. According to VentureBeat, Doximity

. . . hopes to connect doctors so that they can collaborate on cases, identify the right candidate for a referral, send private messages to each other, converse about the latest research, and gain exposure for their practice. It has experienced rapid expansion and recently announced that one in seven physicians in the United States have signed up.

Be sure to look for big things from this company in the future.

Boston-based startup Predilytics combines machine learning and health care to help health care companies run more efficiently. On September 4th, the company announced that it closed on a $6 million Series A round of funding. Contributors include Flybridge Capital Partners, Highland Capital Partners and Google Ventures.

Gigaoam.com quote Predilytics as describing their services as follows:

Predilytics offers a new approach for generating healthcare insights – applying big data, machine learning technology to create transparent, unbiased business driven results. This approach exceptional predictive models that are 2x to 4x more insightful and actionable than conventional statistical/regression modeling and rules-based methods.

Predilytics plans to use this funding to “further expand its product offerings and grow operations with a focus on analytics, information technology, application development and account management.”

InCrowd allows “pharmaceuticals to survey screened and targeted healthcare professionals in real-time.” The company recently closed a $2.2 million Series A round. The round was let by Nauta Capital.

InCrowd has a database of “pre-screened healthcare professionals.” These professionals have opted-in to being in the database. Pharmaceutical companies can take this database and find doctors that fit the description of who they want to to take their survey, and then a survey will be sent out to them.

Thank you to Rockhealth.com for putting together a list of fundings and acquisitions each week. Be sure to check out their weekly newsletter!

September 14, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.

Agile Health, Best Doctors Inc., and Life Image Among Many Companies Receiving Fundings

FUNDINGS:

Agile Health, based in Nashville, announced that the company has recently raised $2 million. The company created “Kick Buts,” a smoking cessation program. It was built after the company’s starters, Gary Slagle and Scott Werntz, saw research from the UK that showed people were more likely to quit smoking if they were involved in a texting program. The article about this funding didn’t include anything additional information about where the fundings came from, as officials at Agile Health weren’t immediately reachable for comments.

A Nashville-based, mail-order institutional pharmacy, NuScriptRX, announced on August 27th that they closed on a $5 million round of funding. The round was led by Council Capital and Council & Enhanced Tennessee Fund. There were quite a few other investors, including Clayton Associates of Nashvlle, Linwood A. “Chip” Lacy, Jr., and Envest of Virginia Beach, Va.

Best Doctors Inc., a company that “provides proven medical cost containment solutions to employer groups and other parties around the globe,” received a $45 million equity investment recently. The investment came from BBH Capital Partners.

This funding will go toward technology and infrastructure at Best Doctors, and to help hire more employees. According to this article, the company addresses “the issue of misdiagnosis in people and patients getting the wrong treatment. Last year, the company, which has 30 million members, handled close to 10,000 cases in the U.S., where 29 percent of the cases were misdiagnosed.”

Life Image, a healthcare informatics company in Massachusetts, raised $4 million recently. $11.8 million was raised in a Series B financing round recently as well, bringing the total to almost $16 million. There were 13 investors, which included Cardinal Partners, Galen Partners, Massachusetts Technology Development Corp., and Partners Innovation Fund.

The company has cloud-based software that “facilitates transferring, indexing and searching for digital medical images to reduce the time and cost of redundant exams, avoiding excessive radiation exposure for patients using an image transport method with optimal security that is faster and more reliable than the current practice of using CDs and DVDs,” according to Med City News. 

A healthcare software company based in Brookfield, Wisconsin, recently completed a $2o million recapitalization. Connecture will now be able to “meet demand for the creation of health insurance exchanges mandated by the Patient Protection and Affordable Care Act, as well as supporting Connecture’s ongoing investments in software innovations intended to benefit the health plan, broke, and insurance exchange markets,” according to a news release.

The investment was led by Great Point Partners LLC, and Chrysalis was listed as a co-investor.

Sequoia Capital recently became the latest backer for Telecare, and with that support, led a round of funding that raked in $25.5 million. Telecare created a new way solution to managing diabetes, which includes a wireless glucose monitor, as well as apps that help family and friends follow the progress of their loved ones who suffer from diabetes.

The glucose monitor was released earlier this year. With this $25 million funding, Telecare plans to expand marketing, sales, research, and development.

Lumosity is a health-game creator that “develops games and exercises that aim to improve core cognitive abilities and enables users to remember more, think faster and perform better at work and school,” according to Tech Crunch. The company received $31.5 million in Series D funding recently. This brings their total funding to around $70 million.

The round was led by Discovery Communications, and other investors included Menlo Ventures, FirstMark Capital, Harrison Metal, and Norwest Venture Partners. The funding will go “towards further research into human cognitive performance, expanding reach and marketing and branding.” Lumosity has more than 40 games in its collection that focus on memory, attention, and problem solving.

 

Thank you to Rockhealth.com for putting together a list of fundings and acquisitions each week. Be sure to check out their weekly newsletter!

September 10, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.

PotikDok Raises $1.3 million, 23andMe Acquires CureTogether, and Merkle Acquires 5th Finger

Fundings

A startup from Silicon Valley, PokitDok, has recently raised $1.3 million in seed round funding. Pokitdok is a health and wellness startup that “aims to provide its members with the information and resources they need to make the very best health and wellness related decisions for themselves and their families.

Among investors in Pokitdok were Charles River Ventures and the Ballast Fund. PokitDok is currently in private beta and will be launched nationally on July 17th. The company connects users with with other users and professionals, and discount services can be purchased for certain providers through PokitDok.

Acquistions

5th Finger, a mobile marketing and mobile health vendor, who had numerous clients such as Safeway and Pfizer, was recently acquired by a customer relations management company, Merkle. According to Mobi Health News, the acquistion occured for an undisclosed amount.

5th Finger is well-known for developing Pfizer’s text message vaccine adherence program back in 2011 which sent vaccine reminders, education, and health care information to parents. It has also developed an app for Medtronic, and the company focuses on “medication adherence, health tracking, wellness education, engagement, gamification, and sales support functions.”

23andMe, the startup that invented the “Personal Genome Service” and has the goal of “becoming the go-to resource for personal genetic information, has acquired CureTogether, a similar startup. CureTogether helps its users “create their own research studies, learn about their health, and connect with experts and others who suffer from similar conditions” by providing them with the necessary tools.

From CureTogether, its founders, Daniel Reda and Alexandra Carmichael, will become a part of the 23andMe team. 23andMe will receive many new resources as a result of this acquisition. 23andMe currently has $53 million in fundings and this acquisition appears to be another step in the right direction.

Thank you to Rockhealth.com for putting together a list of fundings and acquisitions each week. Be sure to check out their weekly newsletter!

July 20, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.