accelerate our overall plans then we’re interested in those,” Bhan says.
This is far from Bhan’s first go-round in the health care information sector. He was co-founder and CEO of Medsite, which he sold in 2006 to WebMD. Medsite focused on providing medical, clinical, and drug information to physicians.
While he is already tapping lessons learned from his work developing Medsite, Bhan also hopes to gain traction by networking with other startups. Medivo was recently named to the inaugural class of the Healthcare Transformers program run by the Startup Health Academy. The first session of this mentoring program will meet in New York on March 26 and Medivo Bhan is being looked to as a mentor to other startups, according to Startup Health Academy president Unity Stoakes. “We thought [Bhan] could be an inspiration to the whole community,” says Stoakes. “He’s building a business we think is innovative.”
Stoakes says the 36-month program includes monthly virtual class sessions and quarterly in-person meetings aimed at helping health care startups support each other to innovate and grow. Startup Health Academy does not take equity in these startups but does offer to connect them with potential investors and customers. “The best investor is customer revenue,” Stoakes says.
Bhan believes the concentration of established health care companies in the local market can help foster opportunities for more startups to grow in this industry. “It is a great time to start a company especially in New York,” he says. “There is a lot of interest from the investor community to help solve big issues we’ve been trying to tackle in health care.”
