Patient engagement and marketing company MedCenterDisplay has raised $1.5 million as it begins to expand beyond its core products.
Area investment funds TriStar Technology and Mountain Group Capital led the round, said CEO Gregg Tarquinio, with a number of angel investors — returning and new — also joining in. The proceeds of the raise will go toward expanding six-year-old's MedCenterDisplay's core business, mainly branding screens on hospital walls, as well as the building of mobile applications — the company this summer licensed some technology from fellow local GOBA — and product development.
"We want to take the technology we got from GOBA and saturate the market for interactive and native mobile apps," Tarquinio said Friday, adding that hospital executives must increasingly implement technology to both increase their patient satisfaction scores and be eligible for federal incentive payments.
MedCenterDisplay's raise comes two years after Tarquinio and his team raised $7.5 million to build the business. The company has since grown its hospital customer base to nearly 200 and its staff roster to more than 30.
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