NASHVILLE, Tenn., May 13, 2015 /PRNewswire/ — MDsave, the nation’s first and largest online healthcare marketplace, announced its first institutional investment of $12 million from MTS Health Investors, the New York-based private equity firm.
MDsave provides cash-paying consumers with discounted access to quality healthcare providers. With the increasing prevalence of high-deductible insurance plans, this offering is helping consumers to reduce out-of-pocket expenses for common medical treatments. In its first three years, MDsave has become the preferred choice for accessing healthcare savings, regardless of an individual’s insurance status.
“MDsave is the first national healthcare service brand focused on lowering healthcare costs for the consumer,” said Paul Ketchel, MDsave CEO and Co-Founder. “We equip patients and providers with a dynamic and user-friendly technology platform to connect when a medical procedure is required.”
MDsave’s capital infusion from one of the nation’s top healthcare investors is further evidence that healthcare’s future is tied to consumer choice and transparency, delivered via next generation technology and innovation. Through offices in Nashville and San Francisco, MDsave will use the funding to bolster its platform nationally and internationally, providing thousands of consumers with affordable access to quality medical treatments. Today, MDsave serves over 50 US markets. The service will be available to all US consumers in the coming months.
“Patients are demanding transparency with regard to their healthcare commitments,” said Ketchel. “MDsave was built to provide just that. It’s the first healthcare marketplace that allows patients to shop, compare and purchase healthcare services.” The company offers groundbreaking technology that connects patients with negotiated savings of up to 60% on bundled healthcare procedures like surgeries, imaging, office visits and more. Consumers pay for services up front, thereby streamlining efficiencies and allowing providers to reduce costs. Healthcare providers also save on third party collections and medical billing when using MDsave platform, making the company unique among other digital health platforms.
“It’s truly a win, win for patients and providers,” said MTS Partner, Oliver Moses, who is joining MDsave’s Board of Directors, bringing 20 years of M&A and investing experience in healthcare to the board. “The MDsave team’s extensive healthcare knowledge and Silicon Valley technology innovation gives providers a platform to drive down costs, increase patient volume and pass savings on to patients,” said Moses. MDsave has listed 6,800 procedures in 50 markets. The company ensures patients receive treatment from quality health providers, and even offers a money back guarantee.
MDSave, Inc. provides a single online location for consumers to research, compare and purchase medical services with total cost transparency, www.mdsave.com. Many of the largest healthcare providers offer their services through MDsave. Harpeth Capital served as investment advisors to MDsave through this investment process.
About MTS Health Investors
MTS Health Investors, LLC. makes equity investments in operating companies within services sectors of the healthcare industry. The fund focuses on companies that deliver greater value for every dollar spent in healthcare. Investment targets are primarily U.S. companies with valuations of $25 Million to $300 Million.