Hello Health Raises $11.5M from First Generation Capital, Inc. and
Others to Meet Market Demands for Free Revenue Generating EHR Platform
Additional Funding Helps Bring New Revenue Streams to Independent
Practitioners at No Cost.
Full press release follows.
SOURCE: Hello Health
NEW YORK--(BUSINESS WIRE)—(Nov. 26, 2012)
Hello Health®,
the leader in revenue-generating “electronic health revenue” (EHR) and patient
management technology, today announced the closing of an $11.5M round of
financing to support increased demand for the company’s EHR platform. As
physicians struggle to maintain their primary care practices, Hello Health
offers a channel for transparent communications and the opportunity for
providers to develop independent revenue streams making this the first
electronic health revenue system available. Furthermore, the entire Hello
Health platform is available to physicians free of charge. Today’s round, along
with a $10M funding
round in late 2011, brings the company to more than $20M raised in
the last year. First Generation Capital Inc., as lead investor, financed $10M
of the round.
Hello Health will use this money to support the expansion of its
platform for increased physician revenue opportunities and to develop strategic
partnerships. The notion that physicians are all wealthy is a challenge providers
must overcome if they want to remain independent. More and more physicians are
selling their practices to hospitals, simply because they can no longer afford
to provide excellent clinical care and run a profitable business. In most
cases, physicians and medical office managers are tasked with understanding all
of the business functions of the office in addition to their primary
responsibilities as providers of patient care.
“Independent physicians are beginning to test alternative business
models,” said Ian Ihnatowycz, president and chief executive officer of First
Generation Capital Inc. “Research estimates one in three independent physicians
will aim for higher yields by adopting subscription-based care models, and this
trend will increase 100 percent annually for the next three years.”
“We continue to hear from our physicians that many of the quality
services they provide are actually driving their practices out of business,”
said Nathanial
Findlay, founder and chief executive officer of Myca®
and Hello Health. “Hello Health is committed to helping ensure the local,
independent physician can stay in business and deliver the quality care that
their patients value, for the long-term.”
About Hello Health Inc.:
New York City-based Hello Health Inc. is dedicated to transforming
primary care by connecting patients and physicians through technology. The
company’s revenue generating platform and technology integrates an electronic
health record, practice management capabilities and a patient health portal on
a single, secure platform. Hello Health is free to primary care practices and
generates incremental revenue through a patient subscription model. A
subsidiary of Myca Health Inc., Hello Health collaborates with leading
organizations who offer complementary and strategic solutions that connect
patients and physicians. Learn more at www.hellohealth.com.
Hello Health® and Myca® are registered trademarks
of Myca Health Incorporated.
Contact:
Hello Health
Steven Ferguson, 418-655-8558
or
Racepoint Group
Amanda Griffith/Lindsay LeCain, 617-624-3200
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