ConsumerMedical Acquires Virtual Second Opinion Innovator InfiniteMD
Combined company streamlines virtual access to second opinions from the world’s top physicians for better medical decision-making
BOSTON — August 26, 2020 — Highlighting the healthcare market’s rapid pivot towards virtual care, leading clinical advocacy and decision-support company ConsumerMedical has acquired InfiniteMD (IMD). InfiniteMD is a technology-leading virtual Expert Medical Opinion (EMO) firm recognized for its innovative platform and network of elite providers and specialists.
“This acquisition streamlines the delivery of critical, expert medical guidance that will give our participants facing serious and complex illnesses a more convenient, tech-enabled, and virtual experience,” said David Hines, CEO and Founder of ConsumerMedical. “As our two organizations have worked together for the past two years, InfiniteMD has played a key role in meeting the growing demand by our employer and health plan clients to deliver the highest quality, most impactful, virtual support. Through this acquisition, we are setting a new standard for virtual EMO and clinical advocacy with a global high-tech, high-touch offering designed to help people anywhere in the world when they need expert medical guidance the most.”
“InfiniteMD and ConsumerMedical have forged a successful partnership around innovation, enabling both domestic and global market expansion,” said Babak Movassaghi, PhD, MBA, CEO and Co-Founder of InfiniteMD. “The mission of InfiniteMD has always been to use technology to democratize access to the top physician specialists. Moving forward as one company, we will accelerate the technology roadmap and develop more innovative solutions to address patients with complex health issues and power our expansion efforts both within and outside of the United States.”
InfiniteMD was founded by Harvard physicians and MIT engineers with a mission to empower patients by enabling access to the best minds in medicine for guidance on serious and complex conditions. The platform is utilized by top hospital delivery networks and has processed thousands of cases in 40+ countries. They offer access to 2,400 of the top physicians in the U.S. from institutions like Harvard Medical School-affiliated hospitals and other clinical Centers of Excellence ranking within the Top 20 Hospitals, according to U.S. News and World Report. Their proprietary platform facilitates true 360-degree multidisciplinary collaboration amongst these physicians as a case moves from intake and summarization, to review and rendering of a final virtual opinion via written report or video. Participants and their families have the option to interact with physicians over live video, team-based multidisciplinary video, and asynchronous video— the most modalities available for these services in the industry.
"We launched InfiniteMD with the premise of building the best technology-enabled expert opinion service,” said Christopher Lee, MSE, PhD, COO and Co-Founder of InfiniteMD. “Over the past few years, we have refined the InfiniteMD platform, established formal partnerships with the nation's leading medical centers, and optimized the most user-friendly experience for both patients and expert physicians. By joining forces, we're creating the strongest and most comprehensive offering in the delivery of decision-support via digital health.”
The terms of the transaction were not disclosed.
ConsumerMedical is a leading clinical advocacy, decision support and expert second opinion company serving over four million individuals through some of the nation’s largest employers, health plans and private exchanges. The company has been serving patients and payers for more than 24 years. As a Medical Ally, ConsumerMedical guides participants throughout their healthcare journey with compassionate, high-touch support and deep clinical expertise. ConsumerMedical offers a fully integrated suite of solutions including Medical Decision Support®, Surgery Decision Support®, Expert Medical Opinion, Claims Advocacy and more, helping individuals and families navigate the healthcare system while improving outcomes and reducing costs. ConsumerMedical’s results have been validated continuously by independent actuaries. www.consumermedical.com
InfiniteMD is a virtual expert opinion leader that provides consumers from around the world direct access to the best physicians in the United States via remote video and written consultations using its proprietary platform. Headquartered in Boston, Massachusetts, InfiniteMD works with physicians from institutions like Harvard Medical School-affiliated hospitals and other clinical centers of excellence that rank within the Top 20 Hospitals, per U.S. News and World Report. A cornerstone of InfiniteMD’s service is support for global consumers, which includes the international collection and translation of medical records, as well as providing medically trained interpreters during video consultations. www.InfiniteMD.com
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