June 2, 2009
Based in Austin, Texas, Physicians’ full service and consultant firm, Hospitalists Now has received $3.5 million in series A funding with Sante Ventures leading the funding. Hospitalists Now is currently growing to help hospital physicians and this is already the sixth investment that the company has received.
The main function of Hospitalists Now is to coordinate patient care for its client hospitals, and offers these hospitals constant contact with their patients’ primary care physicians. Since its inception, Hospitalists Now already serves 14 hospitals and 42 healthcare providers, using a unique system to manage workflow, billing, coding and bidirectional communication with primary care physicians and the physicians treating the patients in the client hospital.
According to Michael Gonzales, CEO and founder of Hospitalists Now, the funding from Sante Ventures will allow the company to continue to new software development and begin beta testing of this new software that is supposed to make the process of coordinating hospitals and primary care physicians easier and more efficient for both hospitals and physicians. Furthermore, Mr. Gonzales added that this round of funding from Sante Ventures will also help Hospitalists Now reach out to more physicians and hospitals that are not yet in the company’s network.
So far, Hospitalists Now has received six different funding rounds, with this latest one being the sixth one. According to Doug French, managing partner of Sante Ventures, hospitalist medicine is one of the fastest growing industries in the healthcare sector and with the high caliber service that Hospitalists Now provides along with its technology, the company has a bright future ahead as it successfully reduces inpatient care for its client hospitals and primary care physicians.
Sante Ventures is a vc firm that primarily focuses on businesses in the life sciences industry. Sante Ventures was founded in 2006 and currently has over $132 million under its management. There are several criteria, that Sante Ventures requires from entrepreneurs seeking investments from the vc firm. The first criterion is that the entrepreneur has to be an exceptional executive and have and outstanding and uncompromising integrity as well as a proven track record and experience in their domain field.
The prospective entrepreneur must have a compelling and innovative product or service that has a good likelihood of disrupting the life sciences market.
The entrepreneur must also have a good business model with recurring revenues, high gross margins and operating leverage. The entrepreneur must as well have a fair and simple incentive among both investors and management of his company, as well as a good risk-return ratio. Furthermore, the entrepreneur must have an exit strategy that is well defined and multiple logical acquirers. Some companies in Sante’s portfolio include BioStable, Protein Discovery, Zeno, LDR, HealthSpring, and others.
For more information about Hospitalists Now, click here.