Miami, Florida, Dec. 07, 2017 (GLOBE NEWSWIRE) -- EpicMD, a Miami, FL based provider of telehealth technology platform and service solutions, uniquely focused on the needs of independent healthcare providers, has raised $3 million in Series A funding. Physician backed, private equity firm Sagemoore Capital served as lead investor of the round. They were joined by a host of the company’s largest customers, including high-net-worth family offices representing a number of nationally recognized medical thought leaders, each of whom engaged as early adopters of the platform solution.
“This early financing provides additional working capital to accelerate the national expansion of our platform and includes meaningful commitments to fund certain related merger and acquisition activity of related companies” said Matt Wanderer, Founder and Chief Executive Officer of EpicMD. Wanderer goes on to note that “EpicMD’s next-generation telehealth platform is purpose built to accelerate America’s transition to a more consumer friendly, mobile-first, healthcare model with lowers costs, greater access and the convenience modern healthcare consumers expect and deserve”.
“We appreciate that this capital represents support for both our platform and business model, in response to the overwhelming demand for more convenient, lower-cost healthcare services and improved access to independent physician and specialty practices here in the United States and worldwide. EpicMD looks forward to continuing to execute on our strategy and achieving several major milestones in 2018.”
Jack Karabees, EpicMD’s President and Vice President of Sales added, “Numerous research studies, most specifically in the past 12 months by Congress and the CMS, indicate that consumer-driven telemedicine and telehealth solutions, such as those provided by EpicMD, can considerably drive down costs of healthcare access and delivery and bring real value to physicians and their practices. We feel these solutions are key to future healthcare reform, and are poised for continued growth over the next few years.”
Scott Silverman, Managing Director of Sagemoore Capital offered, “As an organization focused on the financing of roll-up and consolidation strategies in the health-tech space, we are deeply excited about our long-term committed partnership with the dynamic team at EpicMD. Sagemoore Capital will continue to support the company’s growth needs aggressively and ensure the company is properly aligned with the capital it needs to further ramp up its’ organic growth strategy as well as to support the company’s growing list of related add-on acquisition investment opportunities”.
About EpicMD 24/7
EpicMD provides a provider centric telehealth technology platform for healthcare providers wanting to offer personalized telemedicine solutions to their patients. Epic offers a free, HIPAA compliant cloud-based technology solution which enhances any physician’s, specialist’s or provider’s practice while boosting patient satisfaction and convenience. The EpicMD platform immediately eliminates the bulk of uncompensated after-hours calls, prescription refill requests, provision of lab results, etc., while providing on-demand after-hours primary care consultations when requested.
www.epic.md
About Sagemoore Capital
Sagemoore Capital is a physician-led private equity firm focused on health technology investments in the lower middle markets. The organization utilizes an evergreen fund structure with committed capital from family office investors resulting in a patient capital base.This structure offers a flexible investment horizon designed to maximize stakeholder alignment by focusing on true long-term value creation. Sagemoore’s investment principals each have more than 15 years of professional investing and healthcare operating experience.
We seek to cultivate deep partnerships with entrepreneurs and experienced operating teams for the benefit of our portfolio companies. We believe our approach creates strong partnerships with portfolio company leadership to create successful, lasting and valuable businesses.
www.sagemoore.com
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