Tagged: healthtech

h2 wellness reports $3.1 million raised at first close


XDATA – October 22nd 2015
h2 wellness received two commitments for its $5 million financing round. Investors committed to buy 62% or $3.1 million worth of equity almost two weeks ago. $1.9 million in additional funding can be raised before October 2016 based on the placement’s structure. It appears to be the first time the company is filling a security offering under a registration exemption.
h2 wellness markets h2 connect Platform a modularized, scalable and secure digital health platform that connects behavioral science and individual data sets into a personalized health portal that drives individuals to their goals, while delivering on key business objectives. The platform also helps health and wellness brands provide their customers with attractive, innovative digital strategies in a cost-effective, timely manner, eliminating the risk of software development and ongoing maintenance.
The company, headquartered in Los Angeles CA, is led by Hooman Fakki (CEO). h2 wellness elected to keep its revenues undisclosed.
The executive team includes Houman Arasteh.
Offering recap
Status: First close
Company: h2 wellness
Industry: Other Health Care
Amount offered: $5 million
Amount placed: $3.1 million
SEC filing: Source
First sale: 10-09-2015
Data as of: 10-21-2015

Teladoc reported the completion of a $50.25 million financing round


XDATA – September 19th 2014

teladoc$50.25 million was raised by Teladoc following the successful placement and issuance of its unregistered equity securities. A total of forty investors participated to the non-brokered placement which started a little over a week ago. The company closed eight previous unregistered private placements which raised an estimated $40.6 million. The company is registered with the SEC under two distinct identification numbers.

Teladoc markets telehealth services. Through the company’s services patients consult with a physician via phone or secure online video to receive treatment for non-emergency medical issues, such as allergies, bronchitis, pink eye and sinus problems. The company is backed by Cardinal Partners, HLM Venture Partners, Kleiner Perkins Caufield & Byers, New Capital Partners, and Trident Capital.

The company is headquartered in Dallas TX. Revenues on or below $100 million were reported by Teladoc.
The executive team includes Daniel Trencher, Henry Dephillips, Jason Gorevic, Jeff Nadler, Kevin Williamson, Mark Hirschhorn, Mike King and Thomas Seaman.
The board of directors includes Arneek Multani, Dana G Mead, David B Snow, James Outland, Martin Felsenthal, Samuel Havens and Thomas Mckinley.

The company has raised an estimated total of $90.85 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Teladoc
Industry: Other Health Care
Amount offered: $50.25 million
Amount placed: $50.25 million
First sale: 09-09-2014
Data as of: 09-18-2014

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First close initiated by PlushCare after raising 3% of its $1.5 million target


plushcareOne investor bought $50,000 worth of mezzanine securities from PlushCare three weeks ago. According to the data disclosed, the company expects to raise a total of $1.5 million via this non-brokered financing. An additional $1.45 million in funding is to be raised until the offering draws to a close in May 2015. Unregistered securities don’t appear to have been previously sold by the company.

PlushCare markets a HIPAA compliant platform offering virtual doctor visits. Users can book a virtual visit online for $40 for the diagnosis and treatment of common ailments such as influenza, upper respiratory infection, strep throat, and sinus infection among others. The service is available in California for now.

Ryan Mcquaid (CEO) leads the San Francisco CA based company which was registered in 2013. PlushCare kept its revenues undisclosed.

Offering recap
Status: First close
Company: PlushCare
Industry: Hospitals and Physicians
Amount offered: $1.5 million
Amount placed: $50,000
First sale: 05-22-2014
Data as of: 06-10-2014

$1 million unregistered debt financing and first close reported by Synced


syncedSynced disclosed being in the market to raise $1 million via debt issuance. Apparently 15% or $150,000 has already been subscribed by two investors. The non-brokered placement started one month ago. An additional $850,000 in funding is to be raised until the offering draws to a close in April 2015. The company hasn’t previously offered unregistered securities.

Synced designs, develops and markets a mobile software as a service (SaaS) platform geared toward companies to energize their health and wellness programs. The application features tools to engage and motivate employees to be healthy as well as reward them.

Synced, registered in 2014, is headquartered in New York NY. It is led by Andrew Ferenci (CEO). Revenues remained undisclosed.
The executive team includes William S Paladini.

Offering recap
Status: First close
Company: Synced
Industry: Other Technology
Amount offered: $1 million
Amount placed: $150,000
First sale: 04-30-2014
Data as of: 05-30-2014

VoCare launched $20* million fundraising effort


vocareDespite filing an amendment for its Series A financing round, VoCare confirmed that the company is in the market to raise $20 million via a brokered equity private placement. The company structured the offering to remain open until April 2015 if not fully subscribed. No securities have been subscribed by investors yet. The private placement, excluding $500,000 to be paid toward officers’ salaries and $500,000 to be paid in placement fees, will bring in estimated net proceeds of $19 million. Until this disclosure VoCare had raised an estimated $5 million in unregistered securities via one previous financing round. The company disclosed to Random Research having raised $5 million as part of its Series A financing round despite its previous filing disclosing $3.35 million raised. The company is backed by SAW Capital and Elevate Ventures.

VoCare is a health tech company developing simple to use alert and monitoring products for seniors. Products include MyHealth Tablet which allows physicians and care giver to monitor patients remotely. The tablet has the ability to capture all patient vital signs (such as weight, blood pressure, glucose reading, temperature, oxygen level, and others), as well as conduct a “remote office visit” with a patient. It also offers audio and visual medication reminders, physical therapy alerts, and patient education on relevant topics. The tablet is Health Insurance Portability and Accountability Act (HIPAA) compliant. Other products include a personal emergency response system, a mobile phone solution as well as a call center.

The company, headquartered in Indianapolis IN, is led by Steven R Peabody (President and CEO). VoCare elected to keep its revenues undisclosed.

*The size is well outside our coverage however it shows how analysis and research can turn a questionable filing into news.

Offering recap
Status: Launched
Company: VoCare
Industry: Other Health Care
Amount offered: $20 million
Data as of: 04-25-2014

Supramed disclosed its mezzanine placement was 50% completed


Change: offered +0% / raised +50% / placed 50%

supramedAccording to the information disclosed by SupraMed, subscription to its $750,000 mezzanine issuance increased by 50%. An additional $125,000 worth of securities was placed by the company with two investors since the company last released data a month and a half ago. This brings to $375,000 the amount raised from the ten backers who subscribed to the offering. The subscription will close either once the offering is sold in full or in almost six months, whichever one comes first.

The company is developing a Health Insurance Portability and Accountability Act (HIPAA) compliant software as a service (SaaS) “access anywhere” application (app) for surgeons’ medical practice and electronic health record (EHR) management needs. The app is in development, the practice management app is expected to launch in Q1 2014 and the EHR app will roll out in Q3 along with a product combining both services. Monthly subscription to the service ranges from $249 to $399 for the complete suite.

Raluan G Soltero (President) leads the San Diego CA based company which was registered in 2013. SupraMed kept its revenues undisclosed.
The executive team includes Robert B Pollack.

The company has raised an estimated total of $1.13 million via private unregistered security offerings.

Offering recap
Status: Intermediary close
Company: SupraMed
Industry: Other Technology
Amount offered: $750,000
Amount placed: $375,000
First sale: 09-06-2013
Data as of: 03-13-2014

First close filed by Push Health after raising 77%


push healthPush Health initiated a first close after placing $310,000 with eleven investors. The company’s $400,000 non-brokered equity financing started to sell almost two weeks ago. Based on the offering’s structure, the company has until February 2015 to raise an extra $90,000. This is the first time Push Health is selling securities under a registration exemption.

The company developed and markets a mobile phone application for doctors to send prescription electronically to patients. The app organizes patients information, automatically documents the doctor’s notes and routes prescriptions to the right pharmacy. The software is HIPAA (Health Insurance Partability and Accountability Act) compliant.

Matthew Williamson (Co-Founder, Co-president and CFO) leads the Torrance CA based company which was registered in 2012. Push Health elected to keep its revenues undisclosed.
The executive team includes Chirag Shah (C0-Founder) and Steven Bull (CTO).

Offering recap
Status: First close
Company: Push Health
Industry: Other Technology
Amount offered: $400,000
Amount placed: $310,000
First sale: 02-27-2014
Data as of: 03-03-2014

Medication dispenser, PharmRight, raised $400,000 in equity at first close


pharmrightPharmRight reported selling 53% or $400,000 as part of a new unregistered private offering. A total of seven investors subscribed almost two weeks ago to the company’s $750,000 non-brokered equity financing. $350,000 in additional funding can be raised before February 2015 based on the placement’s structure. This is the first time PharmRight is selling securities under a registration exemption.

The company designed and is commercializing a medication dispenser for in-house use. The dispenser holds up to 15 different pills and can store up to ninety day of supply. The product is designed to dispense medication on demand or on schedule, alert patients through a vibrating bracelet and alarm on the system when it is time to take pills. It also feature a web-based cloud tracking system so physicians and caregivers can monitor that patients are adhering to the schedule.

The company, headquartered in Charleston SC, was registered in 2013. No revenues were reported by the company. The executive team includes William C. Park. The board of directors includes Dennis D. Duranceau and James R. Parker.

Random Research reported recently on two other companies developing a product related to medication adherence: ReMindTechnologies and Health Recovery Solutions.

Offering recap
Status: First close
Company: PharmRight
Industry: Other Technology
Amount offered: $750,000
Amount placed: $400,000
First sale: 2014-02-07

HealthTech patient engagement platform announces second offering in a month


Health Recovery SolutionHealth Recovery Solutions launched a new $500,000 equity financing round. Thus far $200,000 was placed on January 19th with two investors. The company disclosed having initiated another offering on January 7th, it is unclear if the placement was sold in full prior the launch of this offering. Three previous financing rounds raised an estimated $1.6 million bringing the total estimated amount raised to $1.8 million.

The company develops and markets a solution to lower hospitals’ readmission rates by providing hospitals and accountable care organizations (ACO) an early warning system to manage their highest risk patients. Under Medicare laws, hospitals with high readmission rates can incur multi-million dollar penalties. ACOs are networks of doctors and hospitals that shares responsibility for providing coordinated care to patients in hopes of limiting unnecessary spending. High risk patients receive after their admission a 4G tablet, loaded with individualized instructions and videos to follow while they are in the hospital and when they return home. Once at home, patients track their progress towards key milestones, such as taking medication as prescribed, weighing themselves, and staying appropriately active. The tablet aggregates, streamlines, and digitalizes essential patient real-time data and delivers it to hospitals and caregivers. The data can be analyzed via a web monitoring portal as well as smartphone applications.

The New York, NY based company is lead by Jarrett Bauer (President, CEO and co-founder). Revenues were not disclosed. The executive team includes Rohan Udeshi (COO and co-founder) and Daniel Priece (CTO).

Offering recap
Status: First close
Company: Health Recovery Solutions
Industry: Other Technology
Amount offered: $500,000
Amount placed: $200,000
First sale: 01/19/14

EHR company placed an additional $100,000 of its mezzanine offering


supramedSupraMed announced raising an additional $100,000 since September 2013 when Random Research first reported about its $750,000 mezzanine financing. The company had raised 20% of its financing round, it increased to 33% and stands at $250,000. The two new investors subscribed to the offering on two occasions first in December 2013 and this month. The new investors surfaced after the company participated in the LA region Challenge Cup competition organized by 1776 a Washington DC-based incubator.

When we first reported about the company back in September information was scarce. SupraMed is developing a Health Insurance Portability and Accountability Act (HIPAA) compliant software as a service (SaaS) “access anywhere” application (app) for surgeons’ medical practice and electronic health record (EHR) management needs. The app is in development, the practice management app is expected to launch in Q1 2014 and the EHR app will roll out in Q3 along with a product combining both services. Monthly subscription to the service ranges from $249 to $399 for the complete suite.

SupraMed, registered in 2013, is headquartered in San Diego CA. It is led by Raluan “Ron” G. Soltero (President and CEO). The executive team includes Robert B. Pollack (CTO). Both executives are board-certified plastic surgeons in private practice.

Offering recap:
Status: Third close
Company: SupraMed
Industry: Other Technology
Amount offered: $750,000
Amount placed: $250,000
First Sale: 09/06/13