eMerge Health Solutions said Wednesday that CincyTech has invested $250,000 in the company as as part of an $850,000 planned equity round. CincyTech is a Cincinnati-based VC firm.
eMerge Health Solutions has received a $250,000 investment from Cincinnati-based venture capital firm CincyTech as part of an $850,000 planned equity round that will provide the company with a year of operating capital and continued product development.
Three Cincinnati gastroenterologists, along with their technology and business partners, wanted to find a more efficient way to create treatment and reimbursement documentation that would improve quality of care while saving time and money. Dr. Alan Safdi, Dr. Michael Safdi, Dr. Pradeep Bekal and Dan Walker of the Ohio GI & Liver Institute, and Bharat Saini, a former GE Aviation technology manager, collaborated to develop software that could help them become more efficient and decrease the chance of documentation errors. Alex Vidas has since joined them as CEO.
They team has so far conducted 50,000 surgical procedures using an intra-operative (during procedures) voice-command engine that is now patent-pending. The doctors discovered the voice-command system could not only save time but also improve the outcomes of their procedures because they were gathering so much more information to analyze.
Now, nearly five years after launching eMerge Health Solutions in 2006, the five principals of eMerge have completed initial product development, secured an agreement with Jewish Hospital in Cincinnati, and developed relationships with other potential clients. eMerge has installed the system in four locations — three ambulatory surgery centers and at Jewish Hospital.
eMerge will showcase its product May 7-10 in Chicago at the Digestive Disease Week conference — a premier medical education event that draws more than 17,000 physicians and healthcare professionals from around the world.
About eMerge Health Solutions
eMerge Health Solutions’ HIPAA-compliant workflow and documentation systems are designed by its team of practicing physicians, nurses, healthcare business leaders and information technology specialists. eMerge has command-driven voice templates for operative note, nursing, pathology and pharmaceutical documentation modules suitable for ambulatory surgery centers, operating rooms, emergency rooms, hospital floor nursing needs and nursing homes. www.emergeendo.com
CincyTech is a public-private venture development organization that invests in startup businesses in high-tech industries in Southwest Ohio. With substantial support from Ohio Third Frontier and corporations, foundations, civic organizations and individuals here, it is stimulating the growth of venture-worthy companies in information technology, bioscience and advanced manufacturing.