MDLIVE, a provider of virtual health services based in Sunrise, announced Wednesday that it has recently closed on a $50 million investment from private equity firm Bedford Funding, which specializes in the software industry.
Bedford Funding joins previous investors, Sentara Healthcare, Sutter Health, Heritage Group and Kayne Anderson Capital Advisors. According to the MoneyTree Report on venture capital, MDLIVE attracted $23.6 million of funding in 2014.
Funding will help MDLIVE expand its acquisition strategy and consumer reach to further its vision of building a fully integrated, end-to-end virtual health system, said Randy Parker, CEO.
MDLIVE, with more than 200 employees, provides millions of Americans with access to virtual doctor visits utilizing partnerships with established industry leaders, including Walgreens, Microsoft, and major health systems across the country. By providing convenient access to healthcare through a HIPAA-compliant cloud-based platform, patients, healthcare providers and the healthcare system benefit through improved outcomes and cost savings, the company said.