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    5 Replies Latest reply on Oct 6, 2008 11:23 AM by Tony3143

    Medical Vendor - Looking to raise $500k working capital

    medicalvendor Newbie
      Medical software integrator seeking $500k in working capital to be raised from multiple sources in $25k - $50k each. Fundamentally sound company in all areas, substantial competitive advantages, profitable business model, and poised for significant growth.

      Growing Market Share, Award-Winning Product, New Markets. Company currently has medical practice customers in 24 states and in over 30 specialties. New area of expansion is hospital-owned clinics - company recently won a multispecialty hospital-owned contract with 11 clinics and over 50 providers. Widespread lack of qualified Health I.T. talent, a complex sale/marketplace with educated buyers, and substantial learning curve for technical employees presents substantial barriers to entry for newcomers.

      Market Growth Outlook: In June 2008, the New England Journal of Medicine released a study indicating that only 4% of physicians use a fully functional electronic records system. However, 26% plan to purchase within 2 years - presenting a potential market of over 250k physicians in small practice, group practice, and hospital-clinic settings. Study: (http://content.nejm.org/cgi/content/short/NEJMsa0802005v1)

      Use of Funds: Company plans to use funds to invest in sales and marketing of existing and new products and services, in addition to product line expansion to offer a lower-end system for the 1-2 physician practice market.

      We have a one page summary sheet, executive summary, and business plan for serious inquiries.

      Thank you!