Medivo, Inc.
Headquartered in New York, NY, Medivo is a healthcare IT company that provides data analytics and lab testing services via the Internet that empower and enable patients and physicians to improve health. Medivo has a convenient online, HIPAA-compliant platform which connects patients to a nationwide network of physicians, lab service centers and home testing services. The company offers two services to physicians and patients, respectively. PatientPath is a free service that organizes lab results into convenient reports that identify patients needing follow-up care. Medivo Monitor offers patients a free support service, customized by disease state, which provides ongoing education, lab testing and office visit scheduling. www.medivo.com
Why Medivo? — Medivo’s platform—which includes a national network of clinicians, IT and compliance—improves and increases access to lab testing, identifies patients who need testing and assists them to get those tests, educates patients about those results, and relays information to primary care physicians. Led by a proven, serial entrepreneur—Sundeep Bhan—we believe that Medivo is a game-changer that will allow physicians and patients to make more efficient use of diagnostic testing and become better consumers of healthcare.
Market Opportunity — From cholesterol tests to cancer diagnostics and emerging genetic tests, laboratory testing is a critical component of healthcare. Physicians rely heavily on laboratory test results and interpretations to make critical decisions that govern patient diagnosis and treatment and dictate resource utilization. While laboratory costs make up 2-3 percent of overall healthcare costs, laboratory services affect 70 percent of all critical clinical decisions, such as admission, discharge and drug therapy. In response to increasing demand, the number of labs expanded greatly over the past several decades. The lab testing industry in the United States is a more than $50 billion market which is expected to double by 2020. Medivo is well positioned to capitalize on these trends by identifying gaps in care and providing convenient access to testing services.
Safeguard Board Member — Gary J. Kurtzman, MD
Financial Summary — Safeguard has deployed $6.3 million of capital in Medivo has a 30% primary ownership position.
Initial Capital Deployment — December 2011
