MedPass, Brazilian employee healthcare management platform for SMEs, raised US$6m from undisclosed investors. MedPass raised US$1.5m in 2016 from Brazilian private equity firm OSF Merchant Banking.
(Press Release) -With strong growth projected for the global HealthTech apps market, Brazilian created MedPass is firmly on the leading edge of this wave as it gains significant traction with investors and clients alike.
MedPass – which currently targets corporate employees – today unveiled a substantially enhanced version of its HealthTech platform, 4.0, as it reports additional strong investor backing: After earlier securing $8 million in seed funding since 2016, it now has commitments from investors for another funding round of $6 million to finance the company’s continuing growth.
In Brazil’s highly fragmented healthcare startup market, with over 500 registered companies listed on Crunchbase, just 30 firms have received more than $1 million in seed funding, and a mere 10 have been funded above $5 million – and MedPass is one of them.
Introduction to MedPass HealthTech Platform
Unique features of the MedPass version 4.0 include a virtual assistant “Ben,” equipped with over 120 medical algorithms applied individually to the risk profile and medical records of the user, allowing specific screening and meaningful medical help.
Employees of MedPass clients begin their journey using MedPass by filling out digital assessments, within the MedPass application itself, of their health conditions, habits and behaviors. The results obtained generate managerial dashboards updated through integrated digital medical records, with assessments of quality of life and health, which guide population management policies of the clients. Messaging resources have also been created to allow clients’ HR staffs to transmit important communications with specific employees or companywide.
MedPass focuses on engaging its users by guiding and monitoring them through the app and through its own “Health Center,” where physicians and nurses engage through chat/video, seven days a week allowing, if advisable, to schedule consultations with specialized physicians. Health professionals can access digital medical records of client employees through MedPass and can prescribe medications and lab exams, which can be performed at a discount in an accredited network.
MedPass Version 4.0: “Added Urgency” for Platform in COVID Era
“The need for MedPass’s unique technology was unmistakably clear before COVID 19,” said MedPass co-founder Hans Apostel. “But with the outbreak of the pandemic, a regular monitoring of health takes on added urgency, which MedPass ensures.”