Medley Health, which provides physician practice management services, announced Wednesday that it had raised $20 million in Series A financing from Cardinal Partners, Technology Partners and Vivo Ventures. The Dublin, Calif.-based company says it will use the capital to expand its physician partnerships, invest in its practice management services and boost staffing. ”As a physician, I understand firsthand the challenges that independent doctors face today,” Dr. Albert Cha, a managing partner at Vivo Ventures, said in a statement. “Medley Health’s business model … empowers primary care doctors to remain independent with a greater focus on direct patient care.”
PRESS RELEASE
Medley Health Announces $20 Million Series A Financing from Cardinal Partners, Technology Partners and Vivo Ventures
Funding to Enable Medley Health to Expand Physician Partnerships and Service Offering
DUBLIN, Calif., Nov 16, 2011 (BUSINESS WIRE) — Medley Health(TM), a leading provider of membership practice marketing and communications services for independent primary care physicians and their patients, today announced a $20 million Series A financing from Cardinal Partners, Technology Partners and Vivo Ventures. Medley Health is using the capital to expand its physician partnerships, invest in its comprehensive suite of digital marketing and practice management services, increase company staff and fund the development of its membership-based practice model.
“Medley Health combines all of the elements we look for when investing in technology-enabled healthcare services companies,” said Tom McKinley, partner at Cardinal Partners. “Medley Health has successfully introduced a suite of services that enable primary care doctors to remain independent, while transforming their practices to deliver truly patient-centric care. Moreover, Medley Health’s business model aligns patients and their physicians to collaborate and achieve improved health outcomes in a cost-effective manner.”
Medley Health’s mission and business strategy prioritize the doctor-patient relationship at the center of the healthcare model. Membership enables primary care physicians to devote more attention and focus to comprehensive, ‘whole person’ patient care, while remaining independent practitioners. Through membership, patients have the ability to experience a meaningful and sustained partnership with their doctor with a greater emphasis on preventative, proactive care.
“With a long-term focus on investing in consumer-driven healthcare, and as an early participant in a first-generation concierge practice, I believe the model holds tremendous potential to improve the doctor-patient relationship,” said Jim Glasheen, general partner at Technology Partners. “Now, via the membership model, Medley Health offers primary care physicians and their patients an innovative suite of technology and services that strengthen and expand their ability to collaborate and communicate more effectively.”
The financing announcement comes only two weeks after the company announced a strategic collaboration with athenahealth, Inc., a leading provider of cloud-based practice management, electronic health record and care coordination services. This collaboration enables Medley Health’s partner physicians–who operate independent primary care practices focused on delivering patient-centric care–to easily implement an automated and secure solution suite for patient billing, clinical cycle management, streamlined workflow between their physician practices and hospital systems, and patient-physician communications.
“As a physician, I understand firsthand the challenges that independent doctors face today,” said Albert Cha, MD, PhD, managing partner at Vivo Ventures. “Medley Health’s business model, with its emphasis on direct patient care, strong doctor-patient relationships, and continuous investments in communications innovations, empowers primary care doctors to remain independent with a greater focus on direct patient care.”
“The support of top-tier investors such as Cardinal Partners, Technology Partners and Vivo Ventures further validates the recent progress Medley Health has made in bringing our membership practice model and services to market,” said Steve Wigginton, CEO and president of Medley Health. “We believe deeply in the power of the physician-patient relationship to improve health outcomes and are thrilled to have investors that share our commitment to providing physicians and their patients with an affordable alternative to assembly-line healthcare.”
About Medley Health
Medley Health(TM) is a leading practice marketing and communications services company that partners with independent primary care and family doctors to help them transition and thrive in membership-based practices. Dedicated to strengthening and supporting the doctor-patient relationship, the company offers a comprehensive suite of digital marketing and practice management services to support enhanced communication and collaboration between doctors and their patients. For more information, please visit: http://www.medleyhealth.com/.
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