Nineteen members of angel investment network Anges Québec have contributed to the financing of MEDFAR Solutions Cliniques. The deal, which included contributions from other private investors, totaled $695,000. Anges Québec’s investment was led by Enzo Blasi, president of Intellio Capital Humain Inc. MEDFAR, which is based in Montréal, will use proceeds of the round to expand the marketing of its clinical management software, which optimizes patient follow-up and centralizes data in an electronic medical record. Last month, Anges Québec Capital Fund, a fund established to invest alongside Anges Québec members, was recapitalized at $85 million.
Angels invest $695K in MEDFAR Solutions Cliniques
March 4, 2015
Angels participate in a $695K investment in MEDFAR Solutions Cliniques and its MYLE electronic medical file
(Montreal, February 23, 2015) – Already used by over a thousand doctors in Quebec, the MYLE web application from MEDFAR Solutions Cliniques attracted several member investors of Anges Québec. Nineteen of them invested $530K to expand the marketing of this clinical management software, which optimizes patient follow-up and centralizes data in an electronic medical record, while offering numerous practical functionalities. Four private investors completed this total financing of $695K.
Electronic Medical Record (EMR) and collaboration platform for the entire care team, MYLE allows for better sharing of information between interveners who can consult or add notes to the patient record, get an overview of the patient’s health and better traceability of the patient’s clinical course. The web application is accessible on all platforms and allows for faster and more efficient management of electronic medical records, appointment taking and schedules, billing, medication, prescription registers, diagnostic imaging and laboratory results. “Our solution optimizes the entire clinical process and increases workflow efficiency by 30% to 40%, which frees time to focus on patient care,” explained Elias Farah, Chairman and CEO of MEDFAR Solutions Cliniques.
Enzo Blasi, the angel who led this investment project at Anges Québec, believes that MYLE could rapidly conquer new markets, given its qualities and MEDFAR Solutions Cliniques’ dynamic management team: “In addition to having developed an effective, flexible and easy to use application, the company is led by a duo of outstanding entrepreneurs who know how to get their business project up and running. I have complete confidence in this team and their clinical management software. With this financing, they will now be able to focus on expanded marketing outside Quebec.”
Robert Brouillette, Chairman of the Anges Québec board of directors said: “In addition to being investors, our members are also experienced entrepreneurs who can advise and effectively guide young businesses and accelerate their development. This unique aspect of our network adds value to the financing granted.”
About Enzo Blasi
Enzo Blasi is President and associate founder of Intellio Capital humain. He got his start in business in 1985, as partner in a business that he made an independent company in 1997. The sole owner, he propelled the company’s sales from $2 to $7 million, a 300% jump in two years. At the forefront of mobile systems solutions and wireless applications, the company would become Imagina Solutions Technologiques inc. and would be acquired by GFI Solutions in 2005. Enzo Blasi has participated in the growth of the information technology for 30 years, and has helped to launch numerous companies in this field.
About Anges Québec
Anges Québec is a network of 165 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential. In this capacity, Anges Québec works with a number of key Québec organizations interested in the development and growth of technological innovations. So far, Anges Québec members have invested and reinvested in 60 promising businesses in the seed and startup phases.
To keep track of news and activities, join Anges Québec on LinkedIn.com
Elias Farah, CEO MEDFAR Solutions Cliniques
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