for[MD] released information related to the completion in May of a $464,000 non-brokered fundraising effort. The equity issuance was subscribed by eight investors. This is the first time for[MD] was raising money on the private placement market after being a graduate of Blueprint Health’s accelerator program. The company is backed by Oxeon Investments, the corporate venture arm of Oxeon Partners an executive search firms specialized in the healthtech and health services market. The firm makes direct angel and early-stage venture investments, co-investments with the leading US healthcare venture funds and limited partner investments in healthcare institutional investors.
for[MD] is an Health Insurance Portability and Accountability Act (HIPAA) compliant private social network for medical professionals. The network serves as a secure platform for sharing cases, enhancing communication between physicians, their peers and subject matter experts. The company markets its services directly to organizations (such as medical societies and alumni associations) for increasing retention and grow membership. The ultimate goal of the platform is to ease information gathering and exchange so physicians re-focus on providing high quality services instead of quantity.
Gregory “Greg” Chang (Chief Executive Officer) leads the New York NY based company which was registered in 2012. For[MD] elected not to disclose its revenues. The board of directors includes Michael Gagnon and Mike West.
Status: Completed/Final close
Amount offered: $464,000
Amount placed: $464,000