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Cloud Startup Acquires $30M Equipment lot & Completes $3.4 Million Series A
NEW YORK–(BUSINESS WIRE)–November 16, 2013–
M1T, an American business active in the Health Care industry, has made an investment of $3.4 Million in Cloud Medical (“Cloud“), completing the company series A round. Cloud is a Healthcare IT company focused on deploying hardware and software systems that will minimize inefficiencies related to compliance and auditing, giving providers more control over medical procedures, processes and records.
M1T and Cloud Medical partnership; Cloud completes $3.4 Million Series A and secures $30M in high tech equipment (Photo: Business Wire)
“The mission of Cloud is to provide the healthcare industry with technologies that will result in safer and more affordable healthcare. Cloud will be the first company of its kind, operating independently to partner with, and support providers with top-tier technology and the information management systems required to compliment electronic medical records and the tools to identify and cut expenses,” said James Nicholson, Senior Advisor to Cloud Medical. James was the original co-founder of Mitek, which ultimately became DePuy Mitek of DePuy Synthes, a Johnson & Johnson Company.
James Nicholson is the newly appointed CTO of Cloud and Chair of M1T Healthcare Capital Partners, a fund dedicated to backing technology enabled Healthcare companies. With the successful close of a $3.4 Million dollar round, Cloud will target facilities in need of technology improvements in primary markets throughout the United States. Cloud plans to optimize case coverage of medical procedures through real time data and video monitoring in healthcare facilities nationwide.
“The current market is incredibly de-centralized with consultants, manufacturers and data technologies all pulling providers in different directions. We are filling the need for support as one single integrated hardware and software technologies company” said Anthony Gude, Executive Director of M1T. “Our goal is to empower the healthcare industry to adopt technologies that will allow them to control expenses and inefficiencies produced by the constant change in policy, patient claims and other liabilities.”
Due to the recent passing of Obamacare and additional regulatory acts such as the Sunshine Act, the resulting burden of compliance and record keeping has and will continue to increase the costs of healthcare for everyone involved. “Transparency is often perceived as costly and impractical within the healthcare industry,” said Steven Schlatmann, Executive Director of M1T, however “The Cloud technology suite is able to offset and control the costs of compliance, enabling better budgetary control to the healthcare services industry and promote transparency.”
“The M1T collaboration with Cloud affirms our commitment to enhance the accuracy, security and delivery of real time data to all parties, including providers, insurers, and regulatory bodies, a tremendously impactful tool amid the debates about the Affordable Care Act.”
M1T is an American business focused on creating growth opportunities by making significant contributions within the Healthcare, Hospitality, Media, and Technology industries. For more information, visit http://m1tinvest.com
About Cloud Medical
Headquartered in Silicon Valley, California, Cloud Medical Monitoring is an information management technology suite tailored to the requirements of the healthcare industry pertaining to compliance, case coverage, quality control and risk management. For more information contact http://Cloudmedical.co
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20131115006007/en/
Anthony Gude, 917-912-7887
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