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Print Edition StoriesFriday, May 15, 2009
The Pitch
Medical Data Service hoping to fill remote data backup need
By Mass High Tech staff
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Medical Data Service
Headquarters: Milford, N.H.
Employees: 1
Founded: 2008
E-mail: john.lai@att.net
Phone: 603-672-8948
The Pitch: Medical Data Service is seeking seed funding for product development and sales and marketing.
PITCHING THE TECHNOLOGY
Medical Data Service says it provides onsite data storage and remote disaster data backup/recovery for medical facilities. The company says it intends to bring both services, usually served by separate industry segments, under one roof. By doing this, the company intends to offer a lower-cost product and reduce system resource redundancies. The company says its target clients are both enterprise hospitals and non-enterprise medical centers such as clinics and imaging centers.
PITCHING THE PEOPLE
Who is on the management team? John Lai, founder, formerly of DataPacT Systems and Teradyne Inc.
Have executives been involved in a cashout prior to this venture? No.
Who is on the board of advisers? The company has not formed a board.
PITCHING THE BUSINESS
How much money is being sought? Medical Data Service says it is seeking initial funding of $200,000 for product development and sales and marketing.
What partnerships, collaborations or affiliations are already in place? Medical Data Service was a recent presenter at the Worcester Polytechnic Institute Venture Forum’s Spotlight on Entrepreneurs. The company also says it is partnering with an insurance company to promote its product.
List any federal or state grants, contracts or awards received: The company says it has installed its first onsite medical data storage system at an unnamed medical center.
What’s the market size being pursued? Medical Data Service describes its market as a $2.7 billion medical image data storage market with an annual growth rate of 12 percent.
Who are the likely competitors, direct or indirect? The company says its competition comes from General Electric Co., Carestream Health Inc., Siemens AG, DR Systems Inc., Insight Enterprises Inc., Iron Mountain Inc., and Zotec.
Is the company profitable? No.
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