Teladoc Medical Services (Dallas, TX, USA) has announced a $4 million investment to fund its next phase of its operation. The innovative firm, founded in 2002, provides remote telehealth consultations via a national network of locally-licensed participating physicians, 24 hours-a-day, 365 days a year.
Teladoc physicians have access to the customer's electronic medical record thanks to a Continuity of Care Record (CCR) exchange. The physicians then use the detailed clinical histories to remotely diagnose and recommend treatment for non-emergency medical problems.
All of the company's associated physicians are credentialed and covered by medical malpractice insurance. On average Teladoc provides access to a physician within 30 minutes.
Existing investors, Cardinal Partners and HLM Venture Partners made the investment. Thomas McKinley, a partner at Cardinal Partners, justified the decision: “Teladoc has excellent business momentum and is rapidly expanding its customer base. We are particularly impressed by the company’s large national presence, extraordinary patient satisfaction scores, and high-quality provider network."
Marty Felsenthal, partner at HLM Venture Partners, adds, "Teladoc continues to exceed our expectations for market performance, and is the clear front-runner in the telehealth space."