One really cool thing about Alabama’s startup ecosystem is that we’ve got organizations actively working to recruit interesting new companies to move their HQs here. Alabama Futures Fund (AFF) and Redhawk Advisory have declared their latest investment in a Florida-based telemedicine company known as MomentMD. Keep reading for all the details.
MomentMD: the facts
- Who they are: Amtekh, Inc. DBA (doing business as) Moment MD
- Where they’re located: currently based in Oviedo, Florida, they’ll relocate to Birmingham, thanks to the AFF investment
- What they do: they developed a telemedicine platform designed to optimize personal healthcare
- Who it’s for: uninsured, high-deductible health plan patients + higher ed student patient populations
Why it matters
A lot of current remote healthcare users access telemedicine through their employer-sponsored healthcare. Usually, people dial an 800 number or a visit weblink which puts them in touch with the MD or nurse practitioner who’s on call at that time.
If you’re a MomentumMD patient, you can access the following by appointment, even without insurance:
- Primary care
- Acute care
- Mental health services
- Dental care
- Healthcare specialists all over the US—big win if you need to access someone with the expertise to handle your particular healthcare need
- HIPAA-compliant cloud-based medical records for patient users—great for continuity of care and better patient outcomes
- Lab orders or prescriptions through the platform
Patients can either pay a one-time per-use fee or a monthly subscription.
“As founders, we could not be more grateful to continue our journey with AFF as we deliver on our mission to be the decentralized digital health platform of the world. Birmingham offers a strong start-up ecosystem to grow MomentMD and the AFF team is a consistent source of guidance and expertise. They’re a partner you want on your side.”MomentMD’s Co-Founder and CEO, Abanob Farag
Not Alabama Futures Fund’s first rodeo
Alabama Futures Fund has previously invested in a dozen companies since they launched in Q4 of 2018. Whenever they invest in a company outside the state, part of the deal is that the company will move its HQ to Alabama.
With Moment MD, AFF served as lead investor on the funding round with participation from other US-based investors. Redhawk Advisory, LLC, serves as the investment manager of AFF and advised on this investment.
“MomentMD is aiming to provide access to high-quality, personalized care to anyone, regardless of their circumstances. Patients can find specialists through the MomentMD platform who become long-term partners in their health, not just transactional practitioners who are traditionally limited to addressing minor or acute illness. MomentMD’s approach represents a major advancement in the relevance of telemedicine.”Matt Hottle, Partner at Redhawk