OhMD Closes Latest Round of Financing, Led by FCA Venture Partners
BURLINGTON, Vt., Feb. 22, 2022 /PRNewswire/ -- OhMD, an industry leader in patient communication and collaboration solutions, announced the closing of its latest round of financing this month, led by FCA Venture Partners and supported by a co-investment from the Dudley Fund, which includes access to former executives from IDX, GE Healthcare, Marathon Health, OpenTempo and other healthtech companies. This investment will allow OhMD to accelerate the adoption and innovation of its platform to further improve patient relationships through conversation. The company will also create new strategic partnerships to bring simple, safe and effective communication tools to more patients and healthcare providers.
OhMD, which launched its modern patient-centric digital health solution in 2019, is widely regarded as an industry leader in easy-to-use communication and patient collaboration tools for healthcare. OhMD works with practices, hospitals and health systems across all healthcare specialties to facilitate meaningful conversations and improve the patient experience while simplifying care team workflows. The company developed its platform with a patient-centric approach to two-way conversations, emphasizing user-friendly functionality and choice-based communication methods including text/SMS, encrypted secure chat, telehealth video and live website chats.
"FCA Venture Partners is committed to identifying and supporting healthcare industry early-growth companies that are poised to deliver significant value through a breakthrough solution, and to do so while building a sustainable business model," said Todd Johnson, Partner at FCA Venture Partners. "OhMD is a standout. Their leadership envisioned the future of healthcare communications well ahead of the market, and we are thrilled to partner with OhMD as they lead the way toward a better healthcare experience for patients."
Since inception, OhMD has delivered meaningful results for the customers they serve as well as millions of patients.
- Over 40,000 providers use OhMD
- With more than 10,000 5-star reviews, OhMD is one of the top-rated medical apps in the App Store
- 4.9 out of 5 stars and a recognized leader in patient relationship management, telemedicine, and HIPAA compliant messaging software on G2, the world's largest tech marketplace
- 101% year-over-year revenue growth
"We are at a critical and exciting time in healthcare as patients assume a more active role in their approach to health and wellness," said Ethan Bechtel, co-founder and CEO of OhMD. "The point of entry to that empowerment is communication, and OhMD is at the tip of the spear enabling a new, more efficient and effective method of communication and collaboration for healthcare organizations, physicians and patients. We are proud of our impact, the growth and adoption rate of our solutions, and look forward to amplifying our momentum and delivering valuable innovative solutions with meaningful outcomes."
The movement toward a more patient-centric health model has been accelerated in recent years due to the rippling effects of the pandemic, which resulted in remote office visits, an increase in the need for care and communication, and a shortage of staff. The introduction of simple patient communication tools to service this movement has created a new industry that is defining the modern approach to healthcare delivery.
"At OhMD, we have an opportunity to reach millions of additional patients by building deeper integrations with electronic health records providers," continued Bechtel. "Through these partnerships, OhMD can be used by any healthcare organization to improve patient outcomes through dynamic, scalable conversations and replace telephone calls with something far more efficient, personal and compassionate."
OhMD is a leading patient-centric communication platform giving care teams and patients the freedom to communicate directly with one another. With a toolkit used by care teams in practices, hospitals and health systems across the United States, OhMD works to improve patient experience, engagement and collaboration. For more information, visit https://www.ohmd.com/
About FCA Venture Partners
FCA Venture Partners is a venture capital firm investing in early-stage healthcare technology and technology-enabled healthcare services companies that improve patient care, reduce costs, and increase efficiency. FCA brings portfolio companies valuable healthcare insights, connections, and board-level experience to accelerate growth and build disruptive and sustainable businesses. Based in Nashville, the epicenter of healthcare innovation, our team has a decades-long track record including more than 60 investments in the rapidly changing healthcare industry. For more information, visit https://www.fcavp.com.
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SOURCE OHMD, INC.