Tuesday, November 15, 2011

Intersouth Leads $4.5 Investment in SimplifyMD

Intersouth Partners, which is based in Durham, is the lead investor in a Georgia-based startup that focuses on electronic medical records technology delivered through a software-as-a-solution offering.
SimplifyMD has closed on $4.5 million in its first round of institutional financing.

SimplifyMD’s solution is certified by an Office of the National Coordinator-Authorized Testing and Certification Body. The company notes that an EMR solution that is certified is required for healthcare providers to receive federal financial incentives through the American Recovery and Reinvestment Act.
Founded in 2006, the company already has “thousands” of customers, including doctors in 27 specialties.
As part of the deal, John Glushik of Intersouth joins the SimplifyMD board.
The company, which is based in Alpharetta, also named Michael Brozino, a former McKesson executive, as its president and a member of the board. Brozino has more than 20 years of experience in healthcare.
SimplifyMD plans to use the funds to expand its sales team and to drive growth among physicians as clients for its EMR solution.
“SimplifyMD and its market stood out because of the elegant, yet simple nature in which it has met the government’s stimulus requirements, while simultaneously reducing operating cost, improving profits and increasing the time physicians are able to spend with patients,” Glushik said in a statement. “The addition of Mike further strengthens the company’s position, injecting even more industry experience into this already strong team.”
Brozino described SimplifyMD’s solution as “low cost, easy to install, easy to learn and that doctors will actually use.”
“Physician practices recognize the advantage of moving to digital records, but most EHRs haven’t delivered a reasonable path without unnecessary complexity,” he added. “For four years, simplifyMD has delivered a SaaS solution that reduces complexity and delivers immediate impact with a proven return on investment. I’m excited to be joining the company at such a critical time in its growth, and working to continue building that loyal customer base.”

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