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Pentland USA invests $4 million in Modernizing Medicine

MMI__0001_About ModMed

BOYNTON BEACH, FL – February 28, 2011— Over the past several months Modernizing Medicine’s Electronic Medical Assistant “EMA”, has taken the world of dermatology by storm, ushering in a revolutionary time- and cost- saving method for dermatologists to document and bill.

Having launched EMA only a year ago, Modernizing Medicine has just closed its Series A round of investment with the $4 million from Pentland USA, bringing the total round of investment of $7.1 million. Many of the investors are practicing dermatologists who quickly recognized the product’s unique potential.

“This isn’t what doctors think of as a typical electronic medical record, which can be a hassle and time sink,” says M2 Chief Medical Officer and co-founder Michael Sherling, MD, MBA. “EMA is an intuitive, smart system, that adapts to its user. Where a usual EMR can take several minutes per note, costing doctors hours a day in wasted time and productivity, EMA can generate a note, prescriptions, lab slips, and the super-bill in real time with virtually no key strokes from the user.”

Unlike Modernizing Medicine’s usual physician – investors Pentland USA is a subsidiary of the British Pentland Group plc which was involved in the start up of Reebok and Fuze Drinks and is the owner of a variety of brands including Speedo.

Pentland Group’s Chairman, Stephen Rubin said, “I’m not a doctor, but I certainly have been a patient in a medical office, seeing the doctor struggle with his or her computerized system. I know a winning product with broad appeal when I see it and EMA is definitely a winner.” It saves valuable time and ensures more accuracy for diagnosis and treatment.

And dermatologists clearly agree. Modernizing Medicine has brought 80 new dermatology practices on board, many of which are signing up for multi-year contracts. With the investment from Pentland, M2 plans to expand into other areas immediately.

“It’s great when you can do well by doing good,” says Modernizing Medicine’s CEO and co-founder, Dan Cane. “We can save time for the doctors as well as increase the quality of patient care. EMA allows the doctor to treat the patient who is in front of them, instead of turning their back on the patient in order to treat the chart on the computer behind them.”

For more information, please contact Robert Nagro, COO at 866-799-2146 or visit www.modernizingmedicine.com.

About Modernizing Medicine

Modernizing Medicine, Inc. (http://www.modernizingmedicine.com) was founded by Daniel Cane and Dr. Michael Sherling, and is privately held. Mr. Cane was one of the co-founders of Blackboard, Inc. (NASDAQ: BBBB) and was the founder of Kadoo Inc. Dr. Sherling, a Yale and Harvard trained dermatologist, is in private practice in Palm Beach County, FL.

Modernizing Medicine’s offering, Electronic Medical Assistant or EMA, was announced at the meeting of the American Association of Dermatologists in Chicago, in August, 2010, and has since gained significant acceptance in the dermatology community. Designed by practicing dermatologists, EMA enables physicians to truly save time and money in their day-to-day operations. The offering takes a completely new approach to patient information capture and processing, using the latest in Internet and touch screen technologies for ease of installation and use. As a Software-as-a-Service offering, it only requires a web-browser equipped PC or Mac, with no other hardware or software on-site at the medical practice.

For more information, contact:
Bob Nagro, Chief Operating Officer
866-799-2146
Robert.Nagro@modernizingmedicine.com