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Details - Information last confirmed on September 10, 2020
• Investment consideration: Niche telehealth business founded in 2019 by the present owner/CEO who has extensive leadership and expertise as an entrepreneur in healthcare, health information/records, and revenue cycle management services. Seeking a strategic equity partner to bring their marketing and financial resources together in order to take the business to the next level and provide some liquidity to the owner who has funded development entirely with personal funds.
• Ground floor turnkey operation: The Company presently has a network of licensed physicians that cover 29 states under non-exclusive agreements that are paid on a per-claim basis, with no upfront or block fees, and is continually adding new providers to the network. Credentialing has been completed with all major insurance companies and Medicaid. Also, credentialing with Medicare has been approved for telemedicine services during the Covid-19 pandemic crisis.
• Fully HIPPA compliant system: The service provides consumer and healthcare clients a white labeled software application (the “App”) for their computers and Apple and Android mobile devices with full-service for a wide variety of remote telemedicine healthcare services including medical, behavioral health, dermatology and others. In effect, a Virtual Doctor 24/7 from phone/tablet/PC.
• Outstanding growth opportunities: For health plans, insurance companies are a "Virtual App" so members of that company can get better priced service. For insurance companies, they can load all their members, charge them fees, and receive fees when members use the services. For employers, same as health plans but better deals for self-funded companies to reduce costs, create a Kiosk on site, etc. For physicians, this is an opportunity to provide services to their patients 24/7. Telehealth market has exploded as a result of the Covid-19 pandemic and will continue to grow rapidly as providers and patients become more comfortable with, and knowledgeable about, the service.
• Continuity of management: The founder/CEO will remain actively engaged in the business post-transaction to assist in the continued growth but prefers to have the partner’s back office staff handle all administrative and HR functions to allow the owner more time to focus on sales and marketing activities.
• Valuation and deal structure: Best offer.
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