Innovative telemedicine, second opinion and radiology services platform receives venture capital funding from progressive healthcare investors to improve global population health

FORT LAUDERDALE, FLORIDA - USARAD Holdings Inc., a leading U.S. Joint Commission Accredited telemedicine and radiology services solutions provider, including its SecondOpinions.com® division, announced today that three healthcare-related firms have made an investment in USARAD.

"Many parts of the world are experiencing a significant shortage of expert physicians, especially radiologists. By delivering U.S. board-certified specialists to these regions through the use of technology, USARAD is positioned to affordably bring high quality healthcare around the world" explained Ralf Schnell, CEO of the Venture Capital Unit of Siemens. "Their division SecondOpinions.com is leveraging critical healthcare trends including consumerization, globalization, mobile health and broadband access", he added.

Dr. Sean Casey, Chairman and General Partner, Omphalos Venture Partners said "My team and I are eager to utilize our experience building the world's largest teleradiology company, to help grow the next-generation teleradiology and second opinions platform. USARAD will not only improve consumer confidence, mitigate risk and benefit both patients and physicians, but also will make a positive change in the way healthcare is delivered on a global level", he added.

"Our physician network is quite excited about the unique approach of USARAD, where they understand not only the challenges faced by the U.S. healthcare system, but also their advantage in global delivery of world-class care in a cost-effective manner", said Bobby Bahram, Managing Partner of Excelerate Health Ventures, a healthcare information technology fund which supports entrepreneurs. "They take an approach of treating their customers as partners, and they take a holistic view in problem solving".

"As healthcare continues to undergo rapid changes, we are truly honored that these firms have validated our vision, and have joined forces with our exceptional team which includes industry pioneers." said Michael Yuz, MD, MBA, CEO and Founder of USARAD Holdings. "USARAD will directly and significantly improve the quality of care and patient outcomes, as well as decrease healthcare costs, while bringing the same services to the rest of the world".

About the Venture Capital Unit of Siemens

As part of Financial Services, the Venture Capital Unit of Siemens is the corporate venture capital organization of the company and invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure & cities markets and hence plays a key role in Siemens' global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. Since 1999 the company has invested in about 180 start-up companies worldwide. For more information, visit www.siemens.com/venturecapital.

More HCB News