Ottawa’s HealthWave announced today that it has raised $2 million in funding from angel investors to accelerate growth in the USA.
HealthWave has developed an award-winning technology platform that revolutionizes the process by which licensed health practitioners recommend and dispense natural health products and nutraceutical supplements to their patients.
Approximately 80% of physicians and nurses recommend supplements to their patients. Although doctors can recommend supplements and nutraceuticals to patients, they haven’t had a means to prescribe them and ensure they receive professional grade products.
HealthWave has provided a platform to do just that; enabling health professionals to prescribe and sell professional grade products, while avoiding the overhead of managing physical inventory.
Concurrent with this investment, HealthWave has expanded US operations, adding three executives to their leadership team, including Timothy Dickman as the company’s Board Chairman and Chief Revenue Officer. Dickman brings over three decades of health services experience in the US and previously led transformational growth efforts as the former CEO of both Prime Therapeutics and QuadMed LLC.
With this funding also comes a major product update. Earlier this week, HealthWave released a private application program interface (API) that enables third parties to connect to the same engine that powers HealthWave. This API allows doctors to e-prescribe nutraceuticals from any interface, thus setting the foundation for a new standard of care in the industry.
“The nutraceutical market is ripe for disruption; coupling informatics with evidence based standards of care for supplementation,” said Kyle Braatz, HealthWave’s co-founder and CEO.
“Our team has built a foundational platform that is perfectly positioned to create that disruption. The addition of investment capital and three experienced executives in the US sets us up to accelerate the fantastic growth trajectory that we are already on,” Braatz excitedly added.