Toronto, Canada (November 9, 2015) – SeamlessMD, a pioneer in patient engagement technology for surgery, announced today that it has raised a $1.1 million seed round from BDC Capital, FundersClub and a group of prominent angel investors, including Dr. Ray Muzyka (Co-founder, BioWare and CEO of ThresholdImpact), Dr. Daniel Schwartz (Co-founder, QxMD) and Anthony Lacavera (Chairman, Globalive Capital and Founder, WIND Mobile).
As healthcare funding transitions from volume-based to value-based reimbursement, healthcare organizations are under significant pressure to reduce costs. SeamlessMD enables hospitals to improve health outcomes and lower costs by providing a cloud-based platform to guide and monitor patients through surgery.
Currently, North American hospitals are using the company’s platform for a wide variety surgeries, including hip and knee replacement, bariatrics, colorectal and thoracic surgery, and are seeing tremendous results. Research presented last month at the American College of Chest Physicians’ annual conference demonstrated how SeamlessMD has improved the patient experience, reduced surgery cancellations and prevented emergency room visits.
“Surgery is one of the most challenging experiences for patients and families. SeamlessMD enables hospitals to extend their care into the community and empower patients to better self-manage at home,” said Dr. Joshua Liu, CEO of SeamlessMD. “We are proud to learn that we have helped patients catch deadly blood clots after surgery, get infections treated earlier and avoid unnecessary trips to the emergency department. This investment is a major vote of confidence for our company’s vision and ability to solve a huge, costly problem.”
Available on smartphones, tablets and computers, the SeamlessMD platform helps patients learn what to expect, prepare for surgery and have a safe recovery at home. Personalized to the patient’s type of surgery and hospital care plan, the platform provides patients with evidence-based education, timely reminders, video education, progress tracking tools and feedback for self-management. The platform also provides healthcare providers and administrators with real-time analytics to monitor patients remotely, derive insights about the patient experience and measure organizational performance.
“SeamlessMD allows patients to access reliable information when they want – tailored to their specific needs,” said Dr. Carmine Simone, Chief of Surgery for Toronto East General Hospital. “Using SeamlessMD has helped us reduce emergency room visits, surgery cancellations and phone calls to the doctor’s office. It makes an already stressful situation more bearable for patients.”
“Having personally had experience as a physician, tech entrepreneur and surgery patient, I believe that SeamlessMD is uniquely positioned to tackle a huge and important problem facing our healthcare system,” said Dr. Ray Muzyka, originally an ER physician, later co-founder of BioWare and now an angel investor at ThresholdImpact. “SeamlessMD improves the patient experience both pre- and post-surgery, helping healthcare organizations innovate in patient care while efficiently managing their costs.”
SeamlessMD will use the new funding to expand its library of surgery programs, build additional clinical evidence and grow its customer base.