Modernizing Medicine, the creator of the Electronic Medical Assistant™ (EMA), a cloud-based specialty-specific EMR application, announced today that in 2012 the company launched into a new market and scaled massively in existing markets, winning the business of numerous physician practices. The company also entered into agreements with several key vendors, increased its staff to triple digits and secured its largest round of funding to date.
New Products and Gain in Market Share
In October, Modernizing Medicine launched EMA Plastic Surgery™ at the American Society of Plastic Surgery's annual conference in New Orleans.
The adoption rate of the already launched user-friendly and adaptive EMA Dermatology™, EMA Ophthalmology™ and EMA Optometry™ grew by over 1000%, bringing the total number of providers using EMA to over 2,000. Modernizing Medicine won the business of numerous large physician practices, including the Beatrice Keller Clinic, a full service dermatology clinic in Arizona with three offices and 17 physicians.
States Dan A. Nelson MD, Medical Director, Beatrice Keller Clinic: "We researched a number of products and chose EMA due to the ease of use, speed and quality of the medical records produced. I would say that EMA is far more Derm specific with better Derm content, a workflow that fits Derm practice better and superior graphics and photo capabilities. EMAs competitors are less interesting for exactly the inverse reasons -- the workflow is designed for more general medicine with less specificity for Derm and inferior graphics and photo capabilities."
Strategic Agreements and Endorsement
Modernizing Medicine entered into agreements with several key vendors that have added tremendous value to EMA's users. Based on Modernizing Medicine's agreement with Logical Images, EMA Dermatology users now have the option to access Logical Images' VisualDx technology, which is a comprehensive digital image library with nearly 90,000 images representing all ages and skin types. Modernizing Medicine's agreement with Sonomed Escalon will provide EMA Ophthalmology users with the option to use AXIS image management software. Modernizing Medicine also received an endorsement from the Inga Ellzey Practice Group, the leader in dermatology coding and billing.
Corporate Growth and Looking Forward
Modernizing Medicine added 62 employees to its team in 2012, bringing the company total to 110 employees.
Modernizing Medicine moved its headquarters from Boynton Beach, Florida to a larger office at the Research Park on the Florida Atlantic University campus in Boca Raton, Florida. In 2012, Modernizing Medicine announced that it had closed a $12 million dollar capital raise, with a combination of equity capital and a senior debt bank facility, that was led by Pentland Group plc and joined by many of the company's own customers. "
What a year! I am thrilled with Modernizing Medicine's incredible growth in 2012 and could not be more proud of our amazing team," said Modernizing Medicine, co-Founder, President and CEO, Dan Cane. "From new product launches and key partnerships to unbelievable sales numbers and a strong funding round, we've done a lot this year. We are looking forward to a promising 2013 with the launch of EMA Cosmetic™, EMA Orthopedics™ and EMA Otolaryngology™."
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