eMedicalFusion Announces the Completion of a Private Equity Transaction and Strategic Alliance
The Private Equity Transaction provides capital to develop new product capabilities and enhance the product roadmap while the Strategic Alliance Agreement with Pharmacy Services, Inc. will help the firm gain market share quickly.
FOR IMMEDIATE RELEASE
PRLog (Press Release) Mar 30, 2011 Yesterday, eMedicalFusion, LLC, (VA) completed a private equity transaction in which it contributed all of its assets to eMedicalFusion, LLC, a newly formed Missouri corporation in exchange for a substantial interest in the new company. Pharmacy Services Inc. and Diana Baumohl each contributed cash to capitalize the new company. Pharmacy Services, Inc. signed a Strategic Alliance Agreement with the new company to help eMedicalFusion gain market share quickly.
Andre D. Etherly, CEO and Chief Technology Officer of the VA-based eMedicalFusion, LLC continues as CEO and Chief Technology Officer of the new company. “I am pleased and excited to announce the “next chapter” in the evolution of eMedicalFusion. We have just completed a very timely strategic alliance and investment transaction that provides the company with more capital, a new vertically integrated “go to market” partner and an infusion of additional human capital that promises to immediately strengthen the company and position it for rapid growth” says Etherly. There is no doubt that this transaction has increased our ability to execute in the market and will provide more capital to enhance our vision and product roadmap.
Etherly founded eMedicalFusion, LLC to provide the next generation of cloud-based Practice Management applications specifically targeted at practices that use a cash, concierge and/or hybrid revenue model that the firm has come to define as the “New Physician Enterprise”. The product heavily leverages leading-edge, highly-secure, self service technology including a robust patient portal. It is changing the way that medical practices do the business of the practice and is leading and accelerating the adoption of the paperless office. Since its inception, the company has rapidly added functionality, capacity and new clients and now serves medical practice clients from the east coast including Rhode Island, New Jersey and the Washington DC area to the west coast including the Los Angeles area and other points west.
Pharmacy Services, Inc., led by CEO Jake Wilson is a PCAB Accredited compounding pharmacy serving medical practice clients nationally. Many of their clients are potential users of eMedicalFusion and the two firms have agreed to terms of a “win-win” Strategic Alliance Agreement that promises to provide benefits for the pharmacy, its physician clients and patients. Additionally, Jake’s many years of experience and success in the pharmacy benefit management industry at Express Scripts, Inc., a Fortune 500 Company, and one of the fastest-growing healthcare services companies in the U.S., will be invaluable to eMedicalFusion as it goes through the next phase of growth. Jake will serve on the board of the Missouri LLC.
Diana Baumohl also brings a wealth of industry experience and success in healthcare services. She also held key leadership roles at Express Scripts and is a material investor and an officer in the new company. Diana will serve as a Vice President and board member of new company. As Vice President, she will be focused on Market Development and new initiatives.
The new eMedicalFusion, LLC is headquartered in St. Louis, MO but continues to have its technology development and deployment office in Vienna, VA. The firm is committed to an expansion and strengthening of the technical support function to support its growing user base.
Pharmacy Services, Inc. DBA Bellevue Pharmacy is a state-of-the-art compounding pharmacy headquartered in St. Louis, Missouri. Bellevue is the leader in compounding pharmacy, passionately supporting the practice of individualized medicine. Bellevue’s team of pharmacists offers more than 50 years of combined experience in integrated medicine to bring physicians and their patients the highest level of service, quality and care. Bellevue provides individualized compounded therapies, including True Sublingual Tabs, Duragel and pellets, for patients treated by physicians practicing integrative and functional medicine, preventative and age-management medicine, bioidentical hormone replacement therapy, aesthetic medicine, and environmental medicine.
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eMedicalFusion, LLC is a Missouri Limited Liability Company that provides cloud-based, practical, easy to implement Practice Management solutions targeted at cash, hybrid, concierge and integrative medical practices. eMedicalFusion solutions are based on the fusion of technology and innovative business processes enabled by deep domain knowledge. The application is delivered through a secure web-based platform that alleviates the need for practices to purchase servers and hire IT staff. The solutions incorporate components of conventional Practice Management but add a powerful integration engine that integrates multiple applications to create the specific functionality needed by cash, concierge and hybrid practices. Self-service features including ePatient Portal, online scheduling, shopping cart, secure messaging and workflow enablement are the underlying capabilities that drives back-office efficiency and patient satisfaction.