Medinas Health , a data-driven marketplace startup helping healthcare organizations safely and securely buy and sell their surplus and short-date medical supplies and equipment – announced today that it has raised $1M in its oversubscribed seed round. The round was co-led by Ashton Kutcher & Guy Oseary’s Sound Ventures and General Catalyst’s Rough Draft Ventures, additional investors included: Precursor Ventures, Trammell Ventures and Angels.
With the seed round closed, Medinas Health plans to launch a beta to pilot its platform with partners in mid-2018. Medinas’ goal is to build out initial sales by onboarding healthcare organizations (e.g., hospitals, ambulatory surgical centers, vet practices, and nursing homes) and product suppliers (e.g., original equipment manufacturers).
Medinas Health first gained attention at last year’s Forbes Change the World Competition by edging out over 1,000 other entrepreneurs to win the $500,000 grand prize. The winning pitch? “We are a team of engineers, product specialists, medical professionals and healthcare investors and we are all working together,” Medinas’ CEO Chloe Alpert said. “Imagine a future where healthcare costs can go down instead of up.”
Medinas Health aims to save a significant part of the $765 billion in wasted healthcare dollars by:
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Assisting healthcare organizations to monetize: (1) surplus medical supplies/equipment, and (2) short date products that would otherwise be discarded, therefore significantly reducing medical waste.
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Integrating Medinas Health’s platform with existing systems and workflows at healthcare organizations to provide a seamless and user-friendly buying and selling experience.
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Providing rural hospitals and clinics with access to reduced cost supplies to help bring care to every area of the country.
