Electronic medical records management company Practice Fusion announced it has acquired Ringadoc for an undisclosed amount. Ringadoc, which provides a patient-doctor communication platform that allows doctors to answer after-hours calls and messages and provide a diagnosis, had previously raised about $1.7 million in seed funding, as previously reported by peHUB. Backers of Ringadoc include FF Angel (the seed vehicle of the Founders Fund), Wavemaker Partners (formerly known as Siemer Ventures), Telegraph Hill Capital and individual investors, such as Ryan Howard, founder and CEO of Practice Fusion, and Sharon Knight, former president of One Medical Group.
Practice Fusion Acquires Ringadoc
Acquisition sets the stage for Practice Fusion’s vision of a telemedicine platform
SAN FRANCISCO – August 6, 2014 – Practice Fusion, the nation’s largest cloud-based electronic health record (EHR) platform, today announced the acquisition of Ringadoc, an innovator of next-generation patient-doctor communication tools. This acquisition gives Practice Fusion a springboard for entry into the telemedicine market, an industry expected to swell to $4.5 billion in 2018.
Founded in Los Angeles in 2010, Ringadoc has attracted seed funding from FF Angel, Wavemaker Partners (formerly Siemer Ventures) and Telegraph Hill Capital. The company offers an automated, cloud-based answering service that allows doctors to instantly access and respond to after-hours messages via web browser, Android or Apple mobile application, for a starting price of $69 per provider. In addition, Ringadoc increases office efficiency by giving doctors the ability to triage patient calls, centralize communications and manage their patient population. Ringadoc’s service will integrate into Practice Fusion’s industry leading cloud-based EHR for healthcare professionals.
“There are three things necessary to make telemedicine possible: doctors, patients and data – and Practice Fusion’s EHR has all of these at scale. Ringadoc was a natural fit for us and will advance development of our full-fledged telemedicine platform, which could translate to avoiding millions of in-person trips to see a doctor for everything from a fever to a potential concussion,” said Ryan Howard, founder and CEO, Practice Fusion. “When it’s midnight on a Saturday and your child has a fever of 101, waiting the industry average of 18.5 days to see a primary care physician is not an option. Acquiring Ringadoc allows us to continue delivering on our mission of connecting doctors, patients and data to drive better health and save lives.”
“I created Ringadoc as a way to use technology to make communication between doctors and their patients easier, faster and more cost-effective,” said Jordan Michaels, co-founder and CEO, Ringadoc. “Now that we’re part of Practice Fusion, we look forward to accelerating our combined vision of telemedicine and making it a reality.”
To learn more about Practice Fusion, please visit: www.practicefusion.com.
To learn more about Ringadoc, please visit: www.ringadoc.com.
About Practice Fusion
Practice Fusion is the largest and fastest-growing healthcare platform, with a mission of connecting doctors, patients and data to drive better health and save lives. A driving force in modernizing American health care, Practice Fusion is used by a community of more than 112,000 monthly active medical professionals with over 81 million patient records. In April 2013, the company launched its consumer-facing platform, Patient Fusion, where patients can find and book appointments with doctors and access their medical records. The World Economic Forum recognized Practice Fusion as a Technology Pioneer for 2013. www.practicefusion.com