Medivo Raises $7M in Series A Funding Round Led by Safeguard Scientifics

11/18/11Follow @jpruth

Health care IT company Medivo in New York raised $7 million in a Series A funding round led by Safeguard Scientifics (NYSE: SFE) in Wayne, PA according to a press release issued Thursday. Medivo, founded in 2010, provides a platform for data analytics and connects lab testing services with physicians and patients. According to the press statement, the new funding will go toward product development, sales, and marketing.

Patients can use Medivo’s online platform to become better educated about their lab results. Medivo’s platform also relays information to primary care physicians and identifies patients who need testing services. Prior to Medivo, co-founder and CEO Sundeep Bhan co-founded Medsite, an interactive medical education and physician recruitment company which was sold in 2006 for $41 million to WebMD (Nasdaq: WBMD).

João-Pierre S. Ruth is the editor of Xconomy New York. He can be reached at jpruth@xconomy.com and followed on Twitter @jpruth. Follow @jpruth

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