Patient Provider Communications has landed $1.7 million in seed capital thanks to large government grants and significant private investment.
The Ann Arbor-based start-up's principal technology is called "Eloquence." It is a nurse-call system developed through an innovative healthcare communication technology. The company is currently in the final stages of developing its Beta version that is set to be deployed to a couple local hospitals by the fourth quarter of this year.
"We will be developing a commercially viable product by the end of the year," says Lance Patak, co-founder & chairman of Patient Provider Communications
. "Our goal is to have it installed in at least one Beta site by the second quarter of 2014 and our first purchase order by second quarter of 2014."
The 4-year-old company has secured a $1.225 million Phase 2 federal Small Business Technology Transfer grant. It also has scored $250,000 from the Michigan Pre-Seed Capital Fund
, and is closing on $125,000 from private investors that will be matched with $125,000 from the Michigan Emerging Technologies Fund
Patient Provider Communications employs a team seven employees and four independent contractors. It has hired four people over the last year, including a new CEO this spring.
Source: Lance Patak, co-founder & chairman of Patient Provider Communications
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.