SnapMD startup lands seed money

August 16, 2013 in Medical Technology

SnapMD, a cloud-based telemedicine company, has closed a $600,000 seed round of funding with two California investment firms. In announcing the deal, SnapMD CEO Dave Skibinski said the investment would enable the company to add to the workforce and build on its technology.

The investment, announced Aug. 16, was led by Shea Ventures, the investment arm of J.F. Shea Company and Whittier Trust, the nation’s largest multi-family office asset management firm with more than $8 billion under management.

[See also: Health 2.0 to showcase 10 ‘hottest’ startups.]

“We could not be more pleased to have Shea Ventures and Whittier Trust as our lead investors. Along with the high-quality individual investors that also participated, the close of this round is one more validation of our business plan and approach to the market Skibinski said in a news release.

SnapMD’s cloud-based telemedicine platform features secure one-on-one video, audio and text consultations between patients and their primary care and specialty care physicians. Using SnapMD, healthcare providers can conduct scheduled consultations with patients undergoing active care. The platform can also be used for on-demand consultations to reduce avoidable visits to the emergency department, provide remote medical services such as in-school virtual clinics, and to facilitate physician-to-physician communications.

SnapMD’s business model is unique in the patient-to-physician telemedicine space, Skibinski says. The company exclusively licenses its platform to healthcare providers, empowering them to implement telemedicine to the greatest clinical benefit. SnapMD has been designed from the ground up to act solely as a telemedicine technology provider and will not develop its own provider network. The company’s platform is designed for enterprise level use and is currently being introduced to healthcare provider organizations via a SaaS model.

[See also: Health 2.0 to showcase 10 ‘hottest’ startups.]

“SnapMD firmly believes that healthcare, and how it is delivered, should be driven by healthcare providers,” said SnapMD COO George Tierney in a statement. “Our job is to provide tools to the healthcare community that will allow them to determine how best to leverage telemedicine. We want our customers out front. It is their brand identity that their patients know and trust and it is their brand that patients will see when using our platform. Our customers will define the use of this telemedicine technology within the patient community, we simply power the platform.”

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SnapMD startup lands seed money

August 16, 2013 in Medical Technology

SnapMD, a cloud-based telemedicine company, has closed a $600,000 seed round of funding with two California investment firms. In announcing the deal, SnapMD CEO Dave Skibinski said the investment would enable the company to add to the workforce and build on its technology.

The investment, announced Aug. 16, was led by Shea Ventures, the investment arm of J.F. Shea Company and Whittier Trust, the nation’s largest multi-family office asset management firm with more than $8 billion under management.

[See also: Health 2.0 to showcase 10 ‘hottest’ startups.]

“We could not be more pleased to have Shea Ventures and Whittier Trust as our lead investors. Along with the high-quality individual investors that also participated, the close of this round is one more validation of our business plan and approach to the market Skibinski said in a news release.

SnapMD’s cloud-based telemedicine platform features secure one-on-one video, audio and text consultations between patients and their primary care and specialty care physicians. Using SnapMD, healthcare providers can conduct scheduled consultations with patients undergoing active care. The platform can also be used for on-demand consultations to reduce avoidable visits to the emergency department, provide remote medical services such as in-school virtual clinics, and to facilitate physician-to-physician communications.

SnapMD’s business model is unique in the patient-to-physician telemedicine space, Skibinski says. The company exclusively licenses its platform to healthcare providers, empowering them to implement telemedicine to the greatest clinical benefit. SnapMD has been designed from the ground up to act solely as a telemedicine technology provider and will not develop its own provider network. The company’s platform is designed for enterprise level use and is currently being introduced to healthcare provider organizations via a SaaS model.

[See also: Health 2.0 to showcase 10 ‘hottest’ startups.]

“SnapMD firmly believes that healthcare, and how it is delivered, should be driven by healthcare providers,” said SnapMD COO George Tierney in a statement. “Our job is to provide tools to the healthcare community that will allow them to determine how best to leverage telemedicine. We want our customers out front. It is their brand identity that their patients know and trust and it is their brand that patients will see when using our platform. Our customers will define the use of this telemedicine technology within the patient community, we simply power the platform.”

Be the first to like.
VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)

Article source: http://www.healthcareitnews.com/news/snapmd-and-running-seed-money

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