MDLive, a US-based virtual health services provider backed by non-profit health systems Sentara Healthcare and Sutter Health, has raised $50m from private equity firm Bedford Funding.
Founded in 2009, MDLive’s service incorporates a range of online and on-demand healthcare services, linked by a cloud-based virtual medical office platform.
The company intends to use the funding to expand its consumer reach and an acquisition strategy that saw it acquire telehealth company Breakthrough Behavioral in November 2014.
Sutter Health co-led a $23.6m round raised by MDLive in January 2014, investing alongside Sentara, venture capital firm Heritage Group, alternative investment firm Kayne Anderson Capital Advisors and John Sculley, vice chairman of MDLive’s board of directors.
Randy Parker, president and CEO of MDLive, said: “Through the development of an integrated virtual health system, MDLive will address the challenges faced across the continuum of health care, from patient to payer.
“By providing convenient, high-quality, cost-effective care that seamlessly transitions from the virtual to the in-person setting, we are reinventing health care delivery and setting a new standard for health care services in this country.”
– Image courtesy of MDLive Inc.