Integrated Medical Management, Inc. (IMMI) successfully placed 34% of its $1,403,000 non-brokered equity offering with fifty-six investors as part of a funding agreement signed this month. The company expects to raise an additional $927,000 to close the offering within a year. This is the first offering initiated by the company on the private placement market.
The company offers medical practice management services to physicians including billing, collection and anesthesia scheduling. The application (app) offers a customizable dashboard, online patient payment and automated claims follow-up processing among other features. IMMI leverages technology as well as a staff of knowledgeable coders and insurance collectors trained in each medicine specialty reimbursement guidelines to submit claims quickly and efficiently.
The company, headquartered in Las Vegas NV, was founded in October 1993. It is led by Leslie Frazier (CEO). IMMI resported revenues on or below $5 million for the latest fiscal year. The board of directors includes W Bradford Isaacs, Donald Mason Jr., Leejon Moore, Zafrir Diamant and David Robison.
Status: First close
Company: Integrated Medical Management, Inc.
Industry: Other Health Care
Amount offered: $1,403,000
Amount placed: $476,000