The documentation is loaded right into the patients' medical records and it's ready to view by noon the following day. "Once I started practicing medicine, I quickly saw how burdensome documentation had become," Pelo said in a news release. His company offers a mobile app and wearable technology that allows doctors to record visits with patients - and provides virtual medical scribes to decipher the information and complete the documentation, while remaining compliant with HIPAA privacy and security rules. IScribes was born out of the frustrations of its co-founder Jared Pelo, an ER doctor who found it a pain to complete all the documentation his hectic job required.
Over the next two years we will get the payments out of escrow and earn-out." "The majority of the deal has already been realized. "About 80 percent of the returns have been paid out to us," he said. The actual profit is about $137,000, and most of it has been paid out to investors, Cartwright said. Portfolio companies across the three funds and our highest return to date," he said. "This is the fifth acquisition or recapitalization transaction we've had out of our 17 The sale brought the fund's investors an internal rate of return of 32 percent, which takes into account the present value of future payments, said Tim Cartwright, chairman of Tamiami Angel Funds.
Iscribe virtual software#
Less than six months later, the young company was acquired by Nuance Communications, a multinational computer software technology business headquartered in Massachusetts that provides speech and imaging applications. The fund - the third for Tamiami Angel Funds - invested $265,000 in iScribes in July. The Tamiami Angel Fund III reported its highest return on an investment with the sale of iScribes, a medical transcription service for physicians, to a publicly traded company. A bet on a health tech company has netted a healthy return for investors in a Naples-based fund.
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