PurposeMed

PurposeMed

Verified
Connecting physicians with their patients online. Learn more

Launch date
Employees
Market cap
-
Net debt
-
Enterprise valuation
CAD19—28m (Dealroom.co estimates Jun 2021.)
Calgary Alberta (HQ)

Financials

Estimates*

Edit
Revenues, earnings & profits over time
USD202120222023
Revenues3.0m9.9m16.2m
% growth-229 %64 %
  • Edit
DateInvestorsAmountRound
-

N/A

-
N/A

CAD500k

Seed

CAD4.7m

Seed
*

CAD3.5m

Grant
Total FundingCAD8.7m

Recent News about PurposeMed

Edit
More about PurposeMedinfo icon
Edit

PurposeMed is a forward-thinking startup that operates in the telemedicine sector, a rapidly growing market driven by the increasing demand for remote healthcare solutions. The company provides a secure virtual care platform that connects healthcare providers with their patients online. This service is particularly valuable for individuals who are unable to visit their primary care physicians due to various reasons, including geographical barriers, time constraints, or health concerns such as the COVID-19 pandemic.

PurposeMed serves two primary types of clients: healthcare providers and patients. For healthcare providers, the platform offers a virtual clinic that allows them to maintain continuity of care while also providing the convenience of remote consultations. This dual benefit helps healthcare providers retain their patient base and expand their reach. For patients, PurposeMed offers easy access to a network of doctors who can provide necessary medical care without the need for in-person visits.

The business model of PurposeMed is based on a subscription and usage fee structure. Healthcare providers pay a subscription fee to use the platform, which includes various features such as secure video consultations, patient management tools, and digital health records. Additionally, there may be usage fees based on the number of consultations or specific services utilized. This model ensures a steady revenue stream while also scaling with the growth of the user base.

PurposeMed makes money by charging these subscription and usage fees to healthcare providers. This approach aligns the company's financial success with the value it delivers to its clients, ensuring that both parties benefit from the arrangement. The platform's secure and user-friendly design also helps in retaining clients and encouraging long-term usage.

In summary, PurposeMed is revolutionizing the healthcare industry by making access to care a universal right through its innovative telemedicine platform. It bridges the gap between healthcare providers and patients, ensuring that medical care is accessible, convenient, and continuous.

Keywords: telemedicine, virtual care, healthcare platform, remote consultations, patient access, secure video, digital health, subscription model, healthcare providers, online doctors.

Tech stack

Group
Tech stackLearn more about the technologies and tools that this company uses.