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Vitals.com Closes on $4 Million in Financing, Fueling Accelerated Growth and Building on the Company's Rapid Expansion
Milestone Venture Partners, Greycroft Partners LLC, Cross Atlantic Partners and Health Venture Group Lead Private Equity Transaction; Coincides with Vitals Becoming a Quantcast Top 2,000 Site
LYNDHURST, N.J. Vitals.com, the leading online doctor evaluation service from MDX Medical Inc., announced today that it has closed on a $4 million round of financing, further propelling the company’s accelerated growth. The financing was led by New York-based venture capital firms Milestone Venture Partners, Greycroft Partners LLC and Cross Atlantic Partners with participating follow-on financing by Health Venture Group, LLC. Since its market launch in January of 2008, Vitals has emerged as one of the fastest-growing sites on the web and has become a Quantcast Top 2,000 web site, generating more than one million visitors per month.
“Vitals.com combines a remarkably comprehensive and accurate database of physician information with an elegant user experience,” said Todd Pietri, Co-founder and General Partner of Milestone Venture Partners. “In addition to rapidly accelerating website traffic, we were impressed by how the Company takes extra steps to be fair to doctors.”
“In just nine short months, Vitals has become a leader in the online health sector and this financing, from three pre-eminent firms, will further fuel our growth and build on our success,” said Mitchel Rothschild, CEO of MDX Medical Inc., parent company of Vitals. “This funding and our rapid growth speak to Vitals’ strong business model and the unique offerings that have made our site the essential pre-visit destination for anyone seeking a healthcare provider.”
Providing in-depth information on more than 720,000 doctors nationwide, Vitals is a sophisticated, yet easy-to-use tool for consumers to access information on doctors and specialists in their area, free of charge. Vitals features critical information necessary for consumers to find the doctor that is right for them, including empirical information on background and current affiliations, peer review recommendations and extensive patient feedback, all compiled into one central database.
Added Rothschild, “When launching Vitals in January 2008, we set out to make a matchmaking site for patients and doctors. The market has responded enthusiastically and we’re now helping more than 50,000 visitors per day to find the doctor who is right for them.”
About Vitals / MDX Medical Inc.
Vitals, an innovative, online doctor evaluation and comparison service from MDX Medical Inc., is a comprehensive source for empirical information, peer evaluations and patient feedback on more than 720,000 doctors nationwide. Vitals is a subsidiary of MDX Medical Inc., which is led by CEO Mitchel Rothschild and Co-Founder and Chief Medical Advisor Todd Rosengart, MD.
About Milestone Venture Partners
Located in New York City, Milestone Venture Partners is a venture capital fund with $70 million under management. The firm invests in early stage technology-enhanced service businesses in the Greater New York region, and specializes in media, marketing services, healthcare IT, and financial services IT. For more information, visit www.milestonevp.com.
About Greycroft Partners
Greycroft Partners, based in New York City, is a venture capital partnership formed to invest in promising digital media companies. The firm’s $75mm fund includes participation from leading corporate executives around the world. Greycroft also leverages an extensive network of media and technology connections to help investees gain visibility, build strategic relationships, and successfully bring their products to market. Greycroft’s portfolio companies benefit from active, hands-on assistance in all phases of expansion. www.greycroftpartners.com
About Cross Atlantic Partners
Cross Atlantic Partners, managing $155 million, has been investing in later stage health and life sciences companies since 1994. Our team of seasoned professionals has over 60 years of combined experience building emerging healthcare and life science companies, and has served on the board of directors of over 40 public and private companies. More information is available at www.crossatlanticpartners.com.
About Health Venture Group, LLC
Health Venture Group, LLC is a New York City based venture capital/consulting firm. The firm is focused on the consumer health care marketplace and works with well run and growing companies. HVG is particularly focused on the intersection of consumerism and healthcare and wants to accelerate and fuel the trend of turning patients into consumers. The managing partner of HVG is Richard D. Forman, founder of Register.com. For more information, visit www.healthventuregroup.com.
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