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| [April 18, 2005] |
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RMD Raises $3 Million for Healthcare Communication Network
HOUSTON --(Business Wire)-- April 18, 2005 -- Investment led by Sevin Rosen Funds; facilitated by Vesalius Ventures
RMD Networks, Inc. today announced the company has secured $3 million in Series A financing to fund a unique technology that fosters improved system communication within the healthcare community. The investment was led by Sevin Rosen Funds, a top-tier venture capital firm, and facilitated through a partnership with Vesalius Ventures, a telemedicine venture capital accelerator.
RMD Networks' Collaborative Care Networks (CCN) is a secure, Web-based system that provides the framework to interconnect physicians, patients and other members of the healthcare community to facilitate communication and interoperability within the healthcare system. It reduces communication barriers among participating healthcare organizations, thereby increasing the quality of healthcare while reducing costs.
RMD Networks plans to use the new funding to expand sales and to increase awareness of the secure communication network.
"RMD's Collaborative Care Networks provide physicians and other healthcare stakeholders with a system for communicating and sharing information that is part of a practice's workflow," said Steve Adams, president and founder of RMD Networks. "Instead of depending on the phone, fax and traditional mail that can be error-prone and inefficient, practices can electronically collaborate to improve the coordination of care."
Successfully launched in 2001, the CCN has progressed through several stages of testing at local practices, culminating in a unique business model that provides Independent Physician Associations (IPAs), hospitals and other physician groups with the technology and infrastructure to collaborate and share information.
"Healthcare is decades behind in leveraging technology," said Ram Velidi, partner with Sevin Rosen. "RMD's Network provides physicians, practices and their business partners with a simple, easy-to-use system that facilitates complex relationships without placing significant financial burdens on practices to implement the technology."
The estimated annual savings through standardized health information exchange is more than $87 billion according to the Center for Information Technology Leadership (CITL).
"The national push toward physicians and practices implementing electronic medical records is the first step in providing a truly integrated medical care system," said Dr. Bernard Harris, president & CEO of Vesalius Ventures. "RMD's Collaborative Care solution provides the interconnectivity that will improve quality and lower healthcare costs."
In September 2004, Sevin Rosen joined the Vesalius Ventures partners, including Vanguard Ventures, Guidant Corporation (NYSE and PCX:GDT) and Fremont Ventures.
For more information, please visit www.rmdnetworks.com or www.vesaliusventures.com.
About RMD Networks
RMD Networks is an early-stage company, based in Denver, Colorado that provides secure communication networks and services to the healthcare industry. The company aims to reduce health care costs and improve quality by enabling secure and efficient information exchange. The RMD's Collaborative Care Solutions provide security, interoperability and automation of business processes across the healthcare community. (www.rmdnetworks.com)
About Sevin Rosen Funds
Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners' broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. The firm has offices in Dallas, Palo Alto, Austin, and San Diego. (www.srfunds.com)
About Vesalius Ventures
Vesalius Ventures is a seed-stage investment venture capital accelerator specializing in telemedicine, medical informatics and technology. Located in Houston, Texas, the firm helps create, fund and nurture new companies who will significantly shape health care in the 21st century. (www.vesaliusventures.com)
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