Myca Health Inc. Announces a Strategic Investment by the Blue Cross Blue Shield Venture Fund and Sandbox Industries
Myca Health Inc., the leader and innovator in web-based health care platforms for health practices, today announced a strategic $5 million investment in the company by BlueCross BlueShield Venture Partners LP and Sandbox Industries. Myca Health has developed a platform for physicians and patients, MycaHub, that delivers a set of automated tools, intuitive interfaces, integrated systems, and the capacity for doctor and patient to engage in real time, any time, online or offline.
San Francisco, CA (PRWEB) October 7, 2009
Myca Health Inc., the leader and innovator in web-based health care platforms for health practices, today announced a strategic $5 million investment in the company by BlueCross BlueShield Venture Partners LP and Sandbox Industries.
Myca Health has developed a platform for physicians and patients, MycaHub, that delivers a set of automated tools, intuitive interfaces, integrated systems, and the capacity for doctor and patient to engage in real time, any time, online or offline.
"Today, physicians are overwhelmed and frustrated by the administrative burden of practice. Patients are equally frustrated by the lack of access and poor communications that seems to be part of visiting the doctor. We set about to change that," said Nathanial Findlay, CEO of Myca Health. "We've created a proprietary technology that for the first time harnesses the power of social networks and provider management tools to deliver something that really has the power to improve health care."
Everything about MycaHub is designed to simplify the engagement between a provider and the patient, let the physician concentrate on care and enable a higher quality of practice. MycaHub seamlessly integrates with today's communication tools like PDAs and smart phones, as well as remote monitoring devices and leading Electronic Health Records solutions, ensuring a seamless flow of both patient communication and data.
"We saw in Myca a company and a platform dedicated to the needs of physicians and patients," said Paul Brown, Managing Director of BlueCross BlueShield Ventures. "MycaHub is an innovative and effective way to increase access and satisfaction for Blue Cross Blue Shield members, and to enable physicians to do what they do best--provide care."
MycaHub, flexible and scalable, is as relevant to the smallest primary care practice as it is to large group practices, corporate care clinics and hospital-run clinics. Through Hello Health, a wholly-owned business that provides a practice and business solution for micro-practices, and larger practice applications being developed for Ascension Health and Qualcomm, Myca has brought to market a web-based healthcare platform that works.
The strategic investment has been made jointly by BlueCross BlueShield Venture Partners and by Sandbox Industries. "We're excited to be able to accelerate the adoption of MycaHub. We believe Myca's platform will increase quality of care while reducing cost," said Matt Downs, Managing Partner of Sandbox Industries.
"We are delighted and honored by the decision to invest by BlueCross BlueShield Ventures and Sandbox Industries," said Mr. Findlay. "They share our vision of a revitalized health care experience for both doctors and patients, one that is at the heart of the reinvention of care for all Americans."
About Myca Health Inc.
Myca is the power behind a revolution in healthcare. We're creating web-based platforms that work to positively transform the healthcare experience for providers and patients.
We started by questioning why the approach to care seemed locked in a decades-old mindset; paper-based, uncommunicative, inefficient and simply not rewarding for doctor and patient alike. We then tapped into the practical needs and wants of the marketplace - physicians, patients, administrators, and insurers - to guide the development and application set of the MycaHub technology. Five years later our proprietary technology is being adopted by customers of all sizes, from small practices to large hospital systems, each taking advantage of the MycaHub technology to create a patient-centered health care experience that results in a higher quality of care.
Our focus on helping physicians adopt and adapt to new methods of practice has led to the creation of supporting ventures such as Hello Health, a highly-publicized new primary care business model powered by MycaHub, and Hello Health University, in-person and online learning that help physicians transition to practice emabled by MycaHub.
Privately-owned, Myca has a seasoned world-class management team with highly complementary experience in medicine, technology management, product development, finance, sales and business development.
For additional information, please visit our web site at:
Www. myca. com
Or contact:
Nathanial Findlay CEO at nat(at)myca(dot)com.
About Blue Cross Blue Shield Venture Partners LP
BlueCross BlueShield Venture Partners, LP is a $116 million corporate venture fund sponsored by the Blue Cross and Blue Shield Association, an association of 39 independent Blue Cross and Blue Shield companies. The fund invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield Plans. Through a unique arrangement, the Fund is managed by BCBSA, the eleven Blue Plans that have invested in the Fund, and Sandbox Industries. The Fund invests in technologies, products and services in the healthcare industry that promote efficiency, lower costs and increase consumer options. Investments are made from seed through growth stages.
For additional information, visit our website at:
Www. bcbsvp. com
Or contact Anna Haghgooie at anna(at)sandboxindustries(dot)com or Tom Hawes at tom(at)sandboxindustries(dot)com.
About Sandbox Industries
Sandbox Industries is a business incubation and early-stage venture capital firm located in Chicago, IL. Founded in 2003, Sandbox is managed by leaders in identifying and commercializing novel ideas and technologies. The Sandbox team utilizes its network and unique combination of operational, strategic, and financial expertise to provide access to customers, capital, and connections when building marketing-leading companies.
Sandbox is the exclusive fund manager of BlueCross BlueShield Venture Partners. In addition, the company manages its own Sandbox Venture Fund, a seed-stage venture capital fund currently investing in businesses in the technology, consumer products, and health and wellness sectors.
For additional information, please visit our web site at:
Www. sandboxindustries. com
Or contact: Kelli Rhee at kelli(at)sandboxindustries(dot)com
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