Virginia Venture Partners, the equity investment program of the Virginia Innovation Partnership Corporation, has announced an undisclosed investment in MD Ortho Systems, a “virtual-first” provider of workplace-related orthopedic medical services.
Based in Charlottesville, Va., MD Ortho offers employees direct access to orthopedic specialists, bringing cost cuts and productivity gains to employers.
“There are 137 million annual U.S. healthcare visits for orthopedic conditions, and 80% of workers’ compensation claims are orthopedic in nature,” said MD Ortho CEO Joe Jennings, previously the founder of digital therapeutics firm BeHealth Solutions. “The current system is incredibly inefficient and costly for both employees and their employers.”
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MD Ortho disrupts the status quo with direct access to orthopedic specialists, creating a new pathway to cut costs in workplace orthopedic disorders. It has built technology as a crucial aid in managing services covering hundreds of types of orthopedic injuries and conditions, and covering a gamut of facilities ranging from diagnosis and treatment to physical therapy, bracing, imaging and surgical referrals. It uses AI for telemedicine and a robust cloud platform to enable video calls and other features.
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“MD Ortho Systems is partnering with organizations to provide a concierge orthopedic telemedicine service that saves both time and money,” said Alex Euler, senior investment director at Virginia Venture Partners, and founding board member of the Charlottesville Angel Network. “By working with MD Ortho Systems, employees and their employers will feel a lesser burden when seeking the care they need.”
VIPC, a nonprofit corporation, bridges gaps at the earliest stages of the Innovation Continuum. Its investment programs include Virginia Venture Partners, which invests in early-stage companies by providing seed funding. Since its inception in 2005, VVP has invested $41.8 million in over 275 portfolio companies, including 17 companies in designated Opportunity Zones. Its recent portfolio investments include Wellthi, Kinometrix, Electra.aero 8 Myles, AtWork Systems and Babylon Micro-Farms.