Cloud-based specialty EMR developer Modernizing Medicine raises $15M

Modernizing Medicine, Inc., which created a cloud-based, specialty-specific EMR called the Electronic Medical Assistant, has closed on approximately $15 million of an expected $20 million funding round that will enable an expanded focus on telemedicine. The latest funding comes from existing investors, led by Summit Partners and Pentland Group, many of whom are medical specialists […]

Modernizing Medicine, Inc., which created a cloud-based, specialty-specific EMR called the Electronic Medical Assistant, has closed on approximately $15 million of an expected $20 million funding round that will enable an expanded focus on telemedicine.

The latest funding comes from existing investors, led by Summit Partners and Pentland Group, many of whom are medical specialists who use EMA, according to Florida-based Modernizing Medicine. 

Developed by surgeons, EMA contains built-in specialty-specific medical knowledge and workflows. The company said it can be accessed online and is has a flexible format, combined with EMA’s touch-screen interface and advanced ICD-10 capabilities.

“With the investment we intend to continue focused development in the surgical-specialties, while also committing resources for development in telemedicine, IBM Watson and mobile applications,” said Daniel Cane, CEO and co-founder of Modernizing Medicine.

More than 4,000 providers have adopted Modernizing Medicine’s EMA in their practices. The EMA currently serves eight different medical specialties.

“In the dermatology specialty alone, more than 26 percent of U.S. dermatologists now use EMA,” Dr. Michael Sherling, co-founder and chief medical officer, said in a statement, calling the cloud-based EMR a “physician favorite.”

With the new funding, the company expects its employee base to grow with approximately 100 new positions being created in the next 12-18 months.