May 05, 2015
Healthspek Crosses A Milestone
In less than two years, Nashville-based healthcare technology startup Healthspek has earned national accolades, transitioned from an award-winning iPad app to a universal mobile platform and built an impressive base of users. Now the company has reached another milestone: more than $1 million raised from private investors across the country.
Local healthcare technology veterans Randy Farr and Bruce LeFew leveraged their 50+ years of industry experience to launch the company that won the coveted APPY Award in its first year of operation. As a “wallet for life,” Healthspek aggregates medical information from doctors, users and third parties – creating a secure cloud-based platform from which individuals can manage everything from vitals, current conditions and allergies to medications, legal documents and insurance information at no cost.
“What’s exciting is organizations are seeing value in the Healthspek platform for their members and employees,” said Farr, who was first recruited to Nashville by Vanderbilt University, where he developed health insurance plans in coordination with the university’s Medical Center.
Together with LeFew, who built a 30-year career in the hospital and ambulatory world, he built Nashville’s EaseMD into a very successful electronic medical record software suppliers for physician offices. Healthspek was a natural evolution for the team.
Healthspek’s lead investor and Board member David McClary of Willowbrook Capital Management, LLC, says that combined experience allowed the pair to see the opportunity for creating a digital consumer healthcare platform to deal with the increasingly complicated regulatory environment for health-related services. Since then, Healthspek has secured partnerships with companies like Walgreens, been invited to present at AARP’s national convention, and is now working in the realm of pharmacogenetics and precision medicine to allow users to better refine their own medication management.
“Healthspek is a profoundly innovative concept that has proven to be highly valuable to a user base that has doubled in less than a year. The personal data that Healthspek users are assembling only grows and increases in value as we go through life,” McClary said. “We’ve raised $1.1 million in private capital from select individual investors, and while still accepting angel capital the company has begun active conversations with institutional investors for securing a Series A financing round.”
Through the easy-to-use apps (iPad, iPhone, Google Play) and desktop websites, users can securely manage personal and family health records 24/7 from anywhere in the world.
Healthspek allows account holders to take ownership over doctors’ electronic medical records, legal documents and automated refill reminders, insurance cards and more.
What sets Healthspek apart from past PHRs (personal health record) is the dashboard. The dashboard can be customized by users and organizations to provide relevant and actionable health services, products and interests to meet organizational and individual needs.
Healthspek also receives medical records and facilitates electronic communications with providers. With the patient’s permission, doctors can access records through Healthspek’s www.chartnow.com – providing convenience for both patient and physician.
The company’s founders plan to complete the final round of individual investor financing by the end of the third quarter. To learn more, visit www.healthspek.com.
- Entrepreneur of the Week: Randy Farr, Healthspek, Co-Founder & CEO—The Longevity Network
- HealthIT: Brentwood-based Healthspek eyes $1.5MM Series A capraise—Venture Nashville Connections
- Consumer Health Platform Healthspek Launches Precision Medicine—Yahoo! Finance
- Consumer Health Platform Healthspek Launches Precision Medicine—BusinessWire
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