Medify said it raised $1.8 million in Series A funding from angel investors and Voyager Capital. The Seattle consumer health services company also announced its launch from stealth.
THE PROGNOSIS IS GOOD: MEDIFY LAUNCHES CONSUMER HEALTH SERVICE THAT EMPOWERS PATIENTS TO TRANSFORM MEDICAL INSIGHT INTO ACTION
Company Backed by Series A Funding from Voyager Capital and Seasoned Team of Technologists, Health Advocates and Medical Advisors
SEATTLE, WA – August 16, 2011 – Medify, the leading provider of data-driven consumer health information online, today announced the launch of its company. To date Medify has secured $1.8 million in Series A funding from several angel investors and Voyager Capital, the venture capital firm behind online startups aQuantive, Kryptiq and WellnessFX. Medify was founded on the vision of making complex medical information more understandable, relevant and actionable for consumers. Using the service, patients can quickly discover what works best for people with similar medical conditions, and use this newfound insight to ask for help from those they trust most.
The growing demand for reliable online health information is supported by a recent study from Pew Research which found that eight in ten internet users look for health information online, ranking the activity third only behind email and general internet queries.* The increasing occurrence of self-diagnosis and online medical exploration has sparked a new phenomenon known as the “E-Patient” movement – where patients, caregivers and concerned individuals alike are turning toward online resources and each other to understand and manage important health conditions.
Medify is led by CEO Derek Streat who was inspired to start the company after his own personal struggle to find information for his daughter’s rare and life threatening medical condition. The company has assembled an esteemed advisory board with experience at A.D.A.M, Dossia, HealthGrades, McKesson, UnitedHealthcare, UW Medical, and Vanguard Health, among others.
“The modern patient isn’t content to leave their health in the hands of a doctor – they are quickly becoming active participants in the medical process,” said Medify CEO Derek Streat. “There’s a wealth of medical content available online, but Medify is the only source that distills a massive amount of information on real patient outcomes down to the insights people really care about. By making this key information accessible to consumers, Medify empowers users to engage in a deeper dialogue with their medical team and make highly informed decisions about their health.”
Medify mines millions of research studies to derive the world’s largest database of real patient outcomes. The site organizes key information around relevant issues including thousands of conditions, top treatments, leading experts and institutions as well as hot research topics to help patients make highly informed decisions about their health and achieve better outcomes. Using Medify, patients can personalize their health search and understand key research results through intuitive, interactive graphics. Patients and their caregivers can turn these medical insights into action, by engaging a support network where they share treatment experiences, health updates and medical studies in a secure environment. With over 5,000 new finding added each day, Medify ensures that users are always kept up-to-date on the latest medical research and patient outcomes.
“Medify’s unique and proprietary solution fills a gap in the health information industry by providing real medical research that is sourced from medical researchers, scientists and other professionals and backed by hundreds of millions of real patient outcomes,” said Bill McAleer, partner at Voyager Capital. “With its team of veteran technology entrepreneurs and esteemed medical advisors, the company is poised to capitalize on the emerging “E-Patient” movement which is already a key segment of the larger multi-billion dollar health industry.”
*”The Rise of the e-Patient, Understanding Social Networks and Online Health Information Seeking” by Lee Rainie, Director, PEW Internet Project, 5.5.11, Institute for Healthcare Advancement
Medify is an online consumer health service for people managing important health conditions. The company is backed by a seasoned team of technologists, health advocates, and medical advisors who believe in the powerful combination of research and shared experiences. The service allows patients to discover what works for people with similar medical conditions, and use this newfound insight to ask for help from those they trust most. Specifically, Medify enables patients to personalize their health search, understand key research results through intuitive, interactive graphics, and turn insight into action through a suite of community tools. Medify mines millions of research studies to derive the world’s largest database of real patient outcomes. The site organizes key information around relevant issues including thousands of conditions, top treatments, leading experts and institutions, as well as hot research topics to help patients make highly informed decisions about their health and achieve better outcomes. www.medify.com