Scottsdale, AZ-based SaaS company addresses medical industry’s need to
deliver timely patient access to electronic EHR information with
Meaningful Use-certified patient portal
Scottsdale, Ariz. — February 15, 2012 — Omedix, a national provider of
the leading patient engagement platform for medical practices, has
secured Series A funding from Scottsdale-based private equity firm
Canal Partners LLC and Boston-based Long River Ventures. With more
than 1,400 medical providers across the U.S. relying on Omedix
solutions to improve patient engagement, Omedix is using the funds to
accelerate product development, expand sales coverage and better serve
partners.
At the forefront of one of the fastest growing trends for 2012 in the
medical industry, Omedix enables practices to handle all of their
patient engagement needs with Omedix Engage™, a patient engagement
platform that delivers a single solution, a single integration and a
single vendor relationship. Omedix Engage powers all Omedix services
and solutions including its flagship product, the Omedix Patient
Portal™. Delivering unmatched ease of use and deep integration with
select Practice Management and Electronic Health Record (EHR) systems,
Omedix Patient Portal is one of the most powerful and intuitive
solutions to streamlining patient registration on the market. Omedix
Patient Portal is also certified as a Meaningful Use module.
“We built Omedix Engage and Omedix Patient Portal to address a void
with legacy portal solutions only executing on a small fraction of the
potential for patient engagement. By building a solution with the
latest technology, informed by the latest industry insights, and
engineered right from day one, we are enabling medical practices to
provide high-impact, patient self-service solutions that ultimately
lead to streamlined operations and a superior patient experience,”
says Omedix founder Josh Padnick, who serves as president and CEO.
“We’re thrilled with the strong market acceptance for our offering and
can now build on this momentum to fuel our continued rapid growth.”
Omedix’s Path to Series A Funding
According to Padnick, who initially founded Omedix as a web design
company in 2002, the backing of Canal Partners and Long River
Ventures, along with a number of angel investors, provides his company
with access to the ideal combination of CEO-level experience, local
resources and healthcare IT thought leadership. While Canal Partners
has decades of experience ushering the growth of software and internet
technology companies, Long River Ventures has a proven track record
with early stage health care IT investments.
“We were impressed with Omedix’s ability to identify and capitalize on
significant trends in healthcare IT,” says Jim Armstrong, managing
partner of Canal Partners. “By developing their proprietary patient
engagement platform on Amazon Web Services, the Omedix team is
leveraging all the cost savings, scalability and accelerated set-up
benefits of cloud computing. Plus their strategy of partnering with
such EHR leaders as SRSsoft and integrating with vendors like NextGen
and GE Centricity paves the way for seamless integration with the
industry’s top EHR systems and a robust sales pipeline for many years
to come.”
Armstrong is a founder and former CEO of Scottsdale, Ariz.-based JDA
Software Group (Nasdaq:JDAS). Along with serving as chairman of JDA’s
board of directors, he is a director and president of JDA Investments,
Inc.; chairman of Omnilink Systems, Inc.; director for NETtime
Solutions, LLC. and director for WebPT, Inc. As part of Canal
Partner’s investment in Omedix, Armstrong serves as an adviser to the
Omedix leadership team and observes its board of directors.
“Increasingly patients expect to interact with their physicians and
their office staff electronically.” says Will Cowen, managing partner
of Long River Ventures. “We invested in Omedix because they are
delivering a next-generation patient engagement platform that
streamlines routine transactions today, and will facilitate more
complex interactions as patients and providers assume risk under
healthcare reform.”
Cowen brings over 20 years of early stage company building experience
as a CEO of several start-ups, and as an early stage venture investor.
He serves, or has served, on the board of numerous companies
including, Convergent Dental, GetWellNetwork, Healthrageous,
lifeIMAGE, Medical Metrx Systems, MedVentive, Phreesia, Solais, and
Verax Biomedical. He also serves on the Omedix board.
Recruiting New Talent for Omedix’s Headquarters in Scottsdale
Since closing on the transaction in fourth quarter 2011, Omedix is
actively recruiting software engineers and sales representatives to
work at its Scottsdale headquarters to help meet increased demand for
its products and services. Omedix services are already in use at such
stellar clients as Drs. Goodman & Partridge, Arizona Digestive Health,
Biltmore Cardiology, Midwest Orthopedics at Rush University and the
Alaska Heart Institute. While Omedix has clients in 40 states and
counting, Padnick estimates that about 30 percent of the medical
practices and physician offices that use his company’s products and
services are headquartered in Arizona.
Software engineers and sales representatives can apply for open
positions online at visit http://omedix.com/careers/ to apply for a
position.
About Omedix
Omedix empowers healthcare organizations to manage all aspects of
their patient engagement through one secure integrated platform hosted
in the cloud. Over 1,400 providers use Omedix software to deliver
patient self-service, leading to dramatically streamlined workflows, a
superior patient experience, and a more efficient way to meet
Meaningful Use requirements. Visit www.omedix.com for more
information.
About Canal Partners LLC
Canal Partners LLC is a Scottsdale, Ariz.-based private equity firm
that delivers experience, resources and funding to accelerate a
company’s transformation from promising startup to proven market
leader. Founded in 2007, Canal’s managing partners are serial
entrepreneurs with an exceptional track record in both public and
private enterprises. Beyond simply financing deals, Canal takes an
active interest in enabling companies within its portfolio to achieve
significant revenue growth, financial stability, operational scale and
shareholder value. Canal is currently investing in software and
internet technology companies with market-accepted solutions and $1 to
$15 million in revenues. For more information, please visit
http://brookstoneventurecapital.com/.
About Long River Ventures
Long River Ventures invests in seed and early stage companies in
healthcare, IT, and other technology-driven sectors, primarily in the
Northeast. Formed by a group of experienced entrepreneurs and venture
capitalists, Long River has offices in Amherst, Boston and Worcester.
For more information, please visit www.longriverventures.com.
For more information, press only:
Maureen N. Tuskai
602.626.5596 – office
602.769.3448 – mobile
maureen@tuskai.com