Company name: Mediconecta
Concept: Mediconecta.com is a telehealth innovator that provides on-demand medical consultations via videoconference. Using an in-house network of physicians and a robust proprietary platform, the company offers complete clinical resolution via web, its mobile app or telehealth kiosks.
Story: Daniel Silberman and Salomon Simkins, both engineers from Venezuela who received MBAs in the United States, started Mediconecta about five years ago and built it on the basic yet powerful premise that technology can be a pivotal element in the much-needed transformation of healthcare.
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“By providing access to real time, on demand virtual medical visits that can take place anywhere the patient is located, we are able to drastically lower the constraints for delivering quality, affordable and timely medical care,” said Silberman, an industrial engineer who moved to the U.S. in 2004, received his MBA at MIT Sloan School of Management and did consulting and strategy work for a number of years before starting Mediconecta. Simkins, his co-founder and longtime friend, received an MBA from Harvard Business School and has a master’s in biomedical engineering from Penn State; he is based in Israel.
The company’s main business model is to provide telehealth services via the consumers’ insurance companies. “But what we are doing more and more is going straight to consumers through partnerships ... with channel partners who have broad reach in the mass consumer space,” Silberman said.
Today, Mediconecta is the largest telemedicine provider in Latin America with a presence in Mexico, Chile, Ecuador, Venezuela and Peru, with plans to expand into other specialties and product lines, including for U.S. Hispanics who have families in Latin America.
While Latin America is significantly behind the U.S. in telehealth adoption, “it’s really interesting how mainstream this will all become in the next few years,” Silberman said. “The business models that will exist and evolve in a few years will be different than they are today, so we are trying to stay ahead of the pack.”
Launched: July 2011
Management team: Daniel Silberman, founder and CEO; Salomon Simkins, founder and chairman; Daniel Fridzon, CTO
No. of employees: 50, most of them in Latin America.
Financing: $4.1 million in angel funding
Recent milestones reached: Mediconecta won the 2016 eMerge Americas late stage startup competition, winning $100,000 in investment as well as “giving us validation on a very credible platform” and “opening doors for investment and partnership opportunities,” Silberman said. Also, the company successfully deployed Medipunto health kiosks for employers and signed its first distribution partnership with a telecom company in Latin America.
Biggest startup challenge: Creating an entirely new service category in emerging markets. “Being the pioneers in the space, we now benefit from obvious advantages, although getting there was a lengthy process that took significant effort and resources,” Silberman said.
Next step: Mediconecta will continue to penetrate its core markets while expanding into several more countries in Latam and Spain. The service offering is also growing beyond its core in primary medical care and into other telehealth services including medical specialties and a virtual wellness hub, which provides access to virtual coaches in nutrition, fitness, maternity and other areas. The company will also be deploying more of its telehealth kiosks for employers for convenient, on-demand services.
In the United States, where the industry is growing more than 25 percent a year, Mediconecta has an opportunity to merge the medical need of Latinos in their home countries with the high quality medical care offered in the U.S. “This is a project the company will be pursuing via strategic partners, through a highly differentiated product to sell to their Hispanic customers,” Silberman said.
Nancy Dahlberg: @ndahlberg