Company name: Medaxion LLC (Opens in a new window).
Industry: mobile health.
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Location: Nashville, Tennessee.
Solution/Product: Medaxion was formed to simplify administrative processes and create a communication and information stream for anesthesia practices. Its first product is Pulse (Opens in a new window), an iPhone platform that allows anesthesiologists to enter billing data at the point of care and cloud software that allows the practices’ administrators to aggregate information from individual practitioners. The company says the mobile solution makes scheduling and communication easier, and reduces paperwork for anesthesia practices.
Money raised: About $801K from 13 investors, according to a regulatory filing (Opens in a new window).
How it will be used: A company representative did not respond to requests for more information.
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Investors: unknown.
Management team: More than 20 years ago, CEO Jeff McLaren co-founded HealthStream (NASDAQ:HSTM (Opens in a new window)), a Nashville-based healthcare education and research company that went public in 2000 (Opens in a new window). He also co-founded and led Safer Sleep LLC through an acquisition and three rounds of private equity investment before starting Medaxion in 2008.
Market opportunity: The American Society of Anesthesiologists has about 48,000 physician members (Opens in a new window). A few other mobile solutions targeting anesthesiologist charge capture exist, including CompONE (Opens in a new window)’s ChargePad Anesthesia, Abeo (Opens in a new window)’s Coder app and Medelix’s Pocket Anesthesia Pro (Opens in a new window). But many anesthesia practices may be customers of bigger companies that have created comprehensive but nonmobile systems to automate charge capture while also having clinical support functions, like McKesson (Opens in a new window), Omnicell (Opens in a new window) and CareFusion (Opens in a new window).