MD Insider said Wednesday that it closed a $9.5 million investment led by Executive Chairman Jason Ader. Other investors in the round include Bill Ackman; Michael Fertik, Founder of Reputation.com; and Tim Ferriss, angel investor for companies including Facebook, Uber and Evernote. Santa Monica, California-based MD Insider uses big data to reduce healthcare costs for employers.
SANTA MONICA, Calif., April 29, 2015 /PRNewswire/ — MD Insider, a big data healthcare platform that significantly reduces healthcare costs for employers and sets a new standard for transparency in physician performance, today announced that it closed a$9.5 million investment in early 2015. The A round, led by Jason Ader, follows a record setting, significantly oversubscribed crowd-funding round raised via AngelList just a few months earlier. This round is a who’s who of top investors including Tim Ferriss and Bill Ackman.
MD Insider will use the funds to accelerate its expansion and to continue to grow its enormous pool of proprietary data that fuels its unique solution. Using big data to understand the performance of physicians, including quality and cost, enables employers to optimize and improve the quality of care that they bring to their employees.
“The disruptive nature of our business is generating a lot of buzz in the investment community and continues to attract top echelon investors who see the opportunity for us to completely change the way we think about transparency in the healthcare industry,” saidDavid Norris, CEO of MD Insider. “We are experiencing the same excitement for our platform among employers as it brings them cost savings through increased efficiency and enhanced performance.”
“I am excited to be onboard with MD Insider as I believe we are bringing quality and performance transparency to the market in a very unique way,” said Jason Ader, Executive Chairman of MD Insider. “There is a massive need in the healthcare marketplace for this kind of platform and based on the demand from large companies and excitement among major investors, I believe this company has tremendous potential.”
About MD Insider:
MD Insider is a technology healthcare company that uses the power of big data to significantly reduce healthcare costs for employers. By providing Physician Performance Transparency in the areas of experience, quality, and cost, MD Insider enables employers to optimize their physician networks, providing the best quality and lowest cost physicians to their employees.