AUSTIN, Texas, April 27, 2020 /PRNewswire/ -- Medici, a virtual healthcare company based in the U.S., today announced the completion of its Series B financing round of $24 million by current investors, which include Barry Sternlicht of Starwood Capital Group, Kenneth Griffin of Citadel, Nathan Kirsh of the Kirsh Group, Howard Jenkins of Publix, and Tom Meredith, formerly of Dell. Medici offers a HIPAA-compliant virtual healthcare platform for over 25,000 healthcare providers and their patients to securely communicate via text, voice and video chat.
The funding comes at an integral time in the telehealth industry, as virtual visits are projected to top one billion by year's end amid the coronavirus outbreak. The capital infusion will be used to accelerate its growth and the impact Medici has on its approach to patient care during this critical time, and beyond.
Barry Sternlicht of Starwood Capital Group states, "We're very excited to be a part of the continued growth of Medici. We feel Medici is exceptionally well positioned to transform healthcare and be a household name. We anticipate this funding will help spearhead the continued innovation and commitment that Medici has for recreating the doctor-patient relationship."
While Medici has been streamlining doctor-patient interactions for a number of years, the company has recently seen a huge uptick in patient registrations and consultations as more people look to telehealth for their healthcare needs in light of Covid-19. Medici saw an increase of 1,409 percent in patient registrations from February to April and unlike other platforms, Medici allows patients to virtually connect with their own doctors, rather than a stranger.
"We are thrilled to have remarkable investors who really want to see lives and healthcare transformed," says Clint Phillips, CEO of Medici. "Unlike Zoom or FaceTime, Medici allows you to text, ePrescribe, Refer, group chat, bill, translate, triage, keep your number private, your consults organized, and gives $1m liability insurance to physicians. This investment will allow us to invest further into our team and technology to truly impact global healthcare."
To learn more about Medici, please visit Medici.md.
Founded in 2016, Medici, Latin for doctor, is a digital care platform working to transform healthcare by recreating the doctor-patient relationship through mobile technology. With its secure communication platform and provider first approach, Medici enables next-generation virtual healthcare for providers to extend care and be reimbursed without extra overhead or administrative burdens. A winner of the Business Intelligence Group's 2020 BIG Innovation Awards, Medici seeks to fill a need beyond the pandemic; it aims to lead the way in the future of healthcare. Medici are headquartered in Austin, TX and have an office in Johannesburg, South Africa.