PRINCETON, N.J., July 23, 2015 /PRNewswire/ -- Rosemark Capital announced today that it participated in the Series B round, partnering with Doctor On Demand, the leading Video Telemedicine provider. It is the second deal for Rosemark; its first, with enterprise solution HealthTech company Jiff, was announced in early June.
"What an exciting time to become part of the Doctor On Demand growth story," said, Chris Kuenne, Rosemark's Founder and Managing Partner. "In a space that's transforming healthcare delivery, Doctor On Demand's superb product and extensive provider network positions it perfectly to become the leading brand for moms, dads and busy employees seeking a trusted mobile physician consultation for one of the many acute conditions that can be handled through this care modality." He adds, "We're delighted to bring Rosemark's expertise in user engagement to help accelerate trial, use and adoption of this enhanced form of medical care."
The telemedicine space is growing exponentially. A recent Goldman Sachs report projects the telehealth market size will swell to $12B in primary care alone, with the potential to reduce healthcare costs by $100B annually.1 Video telemedicine provides medical care for conditions that can often be diagnosed remotely. For patients, the ability to discuss most common medical issues with doctors on-screen eliminates time wasted in the waiting room. Self-insured employers and health plans benefit by cutting the cost of visits from more than $200 to $40. With Doctor On Demand, employers and health plans can provide the peace of mind of a trusted physician consultation in a more convenient venue, while also reducing the overall cost of care, providing ease and value to a market in desperate need of both.
Doctor On Demand offers immediate, video-based access to top physicians and psychologists. Patients have responded by awarding Doctor On Demand's apps with more 5-star App Store reviews than all other telemedicine apps combined. This superior patient experience, combined with its unique No Subscription (PEPM) Fee business model, has made Doctor On Demand the telemedicine partner of choice for an increasing number of companies.
The company has scaled rapidly since its founding in 2012, by signing on more than 25 million lives through large employers and its strategic partnerships with United Health Care and the national Blue Cross Blue Shield Association among others. With a platform that continues to outperform the competition in terms of its value proposition for employers and employees alike the company is poised to leverage its new funding for explosive growth.
"We're proud of the quality of our product and the world-class physicians that deliver care on our platform," said Doctor On Demand Co-Founder and CEO Adam Jackson. "Patients rave about their experiences. With Rosemark joining this round and bringing its patient engagement expertise, Doctor On Demand's potential will be realized that much faster."
Other investors in this previously announced round include Tenaya Capital, Qualcomm Ventures, Dignity Health, Jump Capital, and Anne Wojcicki. Previous investors included Venrock, Shasta Ventures and Sir Richard Branson.
1 – Goldman Sachs Equity Research, June 29, 2015
About Rosemark Capital
Rosemark brings deep enterprise selling and digital personalized marketing skills to high-growth companies that have established strong product-market fit, built a scalable platform and are now focused on rapid growth. It specializes in supporting founding management teams who seek to accelerate customer acquisition, deepen customer engagement and are looking for capital partners who have the operational experience of having scaled their own firms through the growth thresholds of $50M, $100M, $150M and beyond. Rosemark.com
About Doctor On Demand
Doctor On Demand is a healthcare service that provides Video Visits with Board Certified Physicians, Psychologists, and other providers via smartphones, tablets, and desktop computers. Doctor On Demand delivers services through employers, health systems, health plans, and directly to consumers. Patients simply download the Doctor On Demand app or visit www.doctorondemand.com, provide a list of their symptoms, and are instantly connected for a Video Visit. Patients rate Doctor On Demand as the best Video Visit provider. The company has more 5-star App Store reviews than every other telemedicine app combined. 87% of patients love Doctor On Demand so much they have recommended it to their family and friends. Entrepreneurs Dr. Phil McGraw, Jay McGraw and Adam Jackson founded the company in 2012 to provide fast, easy, and cost-effective access to high quality medical and behavioral health care. Doctor On Demand is based in San Francisco. To learn more, please visit www.doctorondemand.com.
Contact: Stephanie Sandberg, 917-364-1924
SOURCE Rosemark Capital Group