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One Medical Passport secures USD4Mm Series A Investment from FCA Venture Partners

One Medical Passport has closed a USD4 million Series A investment from FCA Venture Partners, a Nashville-based venture capital firm focused on healthcare IT.

One Medical Passport’s online software is used by over two million patients and 700 medical facilities annually throughout the US and its customers include many of the top healthcare management companies. The solution enhances the involvement of patients in their own care before, during and after surgery and medical procedures and improves the communication and collaboration between patients, doctors, and medical facilities. The funds will be used to fuel the company’s aggressive growth plans as it continues to build out its cutting-edge software suite and finishes development of its comprehensive patient engagement solution.
 
“I am excited by the opportunities that this infusion of capital brings to One Medical Passport,” says Dr Punzak, CEO of One Medical Passport. “Being self-funded until this point was a good discipline for us; it taught us to live within our means, prioritise what we were doing, and focus on flawless execution. However, during this past year, we sensed that the market and our company were at a very unique inflection point and that a small amount of outside capital would have a dramatic effect on our company and on our ability to bring our solutions to a much broader market. After discussions with several VC firms, FCA was the clear choice for us. We liked the fact that FCA was really in tune with the healthcare IT market, that the principals were hands-on, and that they truly understood the potential for our software and our company.”
 
“This was a very unique investment opportunity for us,” says John Burch, managing partner of FCA. “What Steve and his team have accomplished is really quite remarkable. In this age of sky-high valuations for companies with no revenue and no clear path to profitability, they have built a company the old-fashioned way: recognising an opportunity to improve the way things are done, and then delivering a solution that exceeds expectations. In addition, their management team is very strong and has worked together for years; they have a very clear vision of where they want to take this company.”
 
“What really excites us is their opportunity for growth,” says Matt King, managing partner at FCA. “The patient engagement solution that they are building has been shown to several key healthcare executives and clinicians. The overwhelming response has been that this is going to transform how patients prepare for and recover from surgery.”
 

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