{"id":647812,"date":"2013-03-20T11:28:40","date_gmt":"2013-03-20T15:28:40","guid":{"rendered":"http:\/\/www.pehub.com\/?p=192040"},"modified":"2013-03-20T11:28:40","modified_gmt":"2013-03-20T15:28:40","slug":"qpid-raises-4-mln-in-funding","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/647812","title":{"rendered":"QPID Raises $4 Mln in Funding"},"content":{"rendered":"

QPID<\/strong> said Wednesday that it closed $4 million in funding from investors including Matrix Partners<\/strong>, Partners Innovation Fund<\/strong>, Massachusetts General Physicians Organization<\/strong>\u00a0and Cardinal Partners<\/strong>. Brandon Hull, Cardinal Partners’ managing GP, is joining QPID\u2019s board. Boston-based QPID provides electronics health records software.<\/p>\n

PRESS RELEASE<\/p>\n

QPID\u2122 Inc., an innovative provider of health record acceleration and intelligence solutions, today announced that it has closed $4 million in early funding from investors including Matrix Partners, Partners Innovation Fund, Massachusetts General Physicians Organization (MGPO) and Cardinal Partners. The funding will support QPID\u2019s growth strategy in three main areas: hiring critical talent to accelerate product innovation, marketing and sales, and strategic expansion into the commercial market after four years of R&D at hospitals within the Partners Network, including Massachusetts General Hospital and Brigham & Women\u2019s Hospital. As part of the investment, Brandon Hull, Managing General Partner at Cardinal Partners, will join QPID\u2019s Board of Directors.
\n\u201cWhile our initial intention was to raise $3 million, and we turned away prospective investors, we decided to extend the round to include Cardinal Partners because the firm is an excellent fit with our earliest committed investors \u2013 Matrix Partners, Partners Innovation Fund, and MGPO,\u201d said Mike Doyle, President and CEO of QPID. “To be oversubscribed with such a quality syndicate is a testament to the value of what we\u2019re offering at QPID \u2013 taking electronic data and creating intelligence around it. Essentially we are moving health care to a place where Electronic Health Records (EHR) are something that clinicians love, not loathe.\u201d
\nQPID allows clinicians to easily extract data entered into any EHR, and presents information in an actionable format not previously available. With more than 5,000 health care professionals already using QPID for over 7,000 daily patient encounters, QPID is improving the daily workflow for clinicians in 15 different clinical departments at multiple hospitals in the Partners System. Its expansion into other health care institutions is imminent, making health care workers \u2013 physicians, nurses, administrative staff, physician\u2019s assistants, and more \u2013 able to find and use the most accurate, updated information on a patient, resulting in better workflow and increased productivity.
\n\u201cIn doing our diligence on QPID, we were able to ascertain that QPID saves clinicians time, allowing them to make clinical decisions with the full knowledge of what is in the EHR \u2013 ultimately, improving patient safety. It is one of the few emerging health care platforms with a demonstrable ROI,\u201d said Brandon Hull, Managing General Partner of Cardinal Partners. \u201cWhen we saw the solution in action, we were convinced of its crucial presence in any health care entity using an EHR \u2013 it unlocks data that clinicians need in order to provide the best health care possible. Its ease of use and value – combined with our knowledge and experience in working with some of QPID\u2019s senior management at other health care entities \u2013 convinced us that we wanted to be a part of this venture.\u201d
\n\u201cThere\u2019s no doubt that the health care experience and technical background of the QPID management team and its investors will enable the company to grow rapidly and become a strategic asset that leading health care institutions across the country need,\u201c added Stan Reiss, General Partner of Matrix Partners.
\nAbout QPID Inc.
\nQPID is an intelligence system for EHRs \u2014 permitting creation of clinician-directed queries, analytics and reporting abilities in real time. The consequence is improved filtration and exception handling in health care workflow, and its effect is akin to business intelligence, namely, activating stored data to reduce cost, improve revenue and quality of care delivery. QPID was developed within Massachusetts General Hospital and Partners HealthCare in Boston. QPID is venture backed by Matrix Partners, Partners Innovation Fund, Massachusetts General Physicians Organization (MGPO) and Cardinal Partners.
\nConnect with QPID
\n\u00b7 LinkedIn
\n\u00b7 Website
\n\u00b7 Twitter
\nAbout Matrix Partners
\nMatrix Partners\u00a0is a premier venture capital firm that has generated outstanding returns for more than three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Cambridge and Waltham, MA; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. Matrix Partners has invested in several game-changing, industry-leading businesses such as Apple Computer, Aruba, HubSpot, JBoss, Netezza,\u00a0Phone.com, Polyvore, Starent Networks, Tivoli Systems, Veritas, Zendesk, and Zong.
\nAbout Cardinal Partners
\nSince 1996,\u00a0Cardinal Partners\u00a0has been one of the leading venture capital partnerships focused exclusively on healthcare investing. Cardinal specializes in early stage financing rounds, usually as the lead investor in the initial financing round of a growth company. Cardinal\u2019s investors include university endowments, foundations, pension funds, banks, and insurance companies. Cardinal currently manages funds totaling $400 Million.
\nAbout Partners Innovation Fund
\nThe\u00a0Partners Innovation Fund, established in 2007, was launched with a total commitment of $35 million from Brigham and Women\u2019s Hospital and Massachusetts General Hospital. It addresses Partners HealthCare\u2019s unmet need for funding of early-stage technology to drive improved medical care for patients.
\nAbout Mass General Physicians Organization
\nThe\u00a0Massachusetts General Physicians Organization (MGPO) is a multi-specialty medical group dedicated to excellence and innovation in patient care, teaching and research.<\/p>\n

The post QPID Raises $4 Mln in Funding<\/a> appeared first on peHUB<\/a>.<\/p>\n

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QPID said Wednesday that it closed $4 million in funding from investors including Matrix Partners, Partners Innovation Fund, Massachusetts General Physicians Organization\u00a0and Cardinal Partners. Brandon Hull, Cardinal Partners’ managing GP, is joining QPID\u2019s board. Boston-based QPID provides electronics health records software. PRESS RELEASE QPID\u2122 Inc., an innovative provider of health record acceleration and intelligence solutions, […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-647812","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/647812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=647812"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/647812\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=647812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=647812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=647812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}