Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for medical industry professionals · Friday, March 29, 2024 · 699,731,783 Articles · 3+ Million Readers

VIPC’s Virginia Venture Partners Invests in MD Ortho Systems to Deliver Virtual-First Orthopedic Services

Concierge orthopedic telemedicine services offer rapid access to care, reduce medical and workers compensation costs and increase workplace productivity.

MD Ortho Systems is breaking the cycle of inefficiency by providing convenient and direct access to orthopedic specialists for fast, effective diagnosis and treatment.”
— Joe Jennings, CEO at MD Ortho Systems

RICHMOND, VIRGINIA, UNITED STATES, June 5, 2023/EINPresswire.com/ -- Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation (VIPC), today announced an investment in MD Ortho Systems. Charlottesville, Va. based MD Ortho Systems provides comprehensive virtual care solutions to address expensive musculoskeletal conditions across employee populations. MD Ortho Systems will use this investment to further develop its proprietary technology and grow its business.

Workplace orthopedic disorders are costly to U.S. businesses, with the majority of the claims requiring further care from orthopedic specialists. The current standard of care is inefficient, expensive and time-consuming, as it requires multiple office visits with different doctors for various diagnoses and treatments. Not to mention the difficulties in finding providers, scheduling delays, and the potential for inaccurate diagnoses and treatment recommendations. This results in missed work, lost productivity and an increase in medical, disability and workers' compensation costs.

“There are 137 million annual US healthcare visits for orthopedic conditions, and 80% of workers’ compensation claims are orthopedic in nature. The current system is incredibly inefficient and costly for both employees and their employers,” said Joe Jennings, CEO at MD Ortho Systems. “MD Ortho Systems is breaking the cycle of inefficiency by providing convenient and direct access to orthopedic specialists for fast, effective diagnosis and treatment. The result is substantial savings to both employers and employees, a healthier workforce, and increased workplace productivity. We thank VIPC’s Virginia Venture Partners for investing and facilitating our continued growth.”

Using its proprietary technology, MD Ortho Systems can manage hundreds of types of orthopedic injuries and conditions. Its comprehensive services include diagnosis, treatment, physical therapy, bracing, medication prescriptions, imaging orders and surgical referrals as needed to manage and solve patients’ problems. Patients are able to access care at work or at home using a smartphone, tablet or computer, and there are no expensive co-pays or out of pocket deductibles. Employers benefit from reduced medical and workers compensation costs, increased productivity, and improved employee retention and wellbeing.

“MD Ortho Systems is partnering with organizations to provide a concierge orthopedic telemedicine service that saves both time and money,” says Alex Euler, VIPC Senior Investment Director of Virginia Venture Partners. “By working with MD Ortho Systems, employees and their employers will feel a lesser burden when seeking the care they need. We look forward to witnessing their growth and are grateful for the opportunity to contribute to their success.”

About MD Ortho
MD Ortho Systems provides a concierge orthopedic telemedicine service to employers. The current standard of care is inefficient, slow and costly to employers and employees. We offer employees rapid access to expert orthopedic care, with no copays, deductibles or loss of earnings due to time away from work for doctor visits. Employer benefits include decreased absenteeism, improved productivity and employee retention, and decreased medical and worker’s compensation costs. For more information, visit https://www.mdorthosystems.com/

About Virginia Venture Partners
Virginia Venture Partners is the equity investment program of VIPC that makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $41.8 million in capital across more than 275 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.virginiaipc.org

About Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities | As the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.
Programs include: Virginia Venture Partners (VVP) | VVP Fund of Funds (SSBCI) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Petersburg Founders Fund (PFF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center |Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Facebook, Twitter, and LinkedIn.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org
Visit us on social media:
Facebook
Twitter
LinkedIn

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release