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Wellsheet

Delivered November 4, 2019. Contributor: Amy R.

Goals

To gather historical, current state, competitor details, and founder professional details on Wellsheet to prepare for a meeting about investing in the company.

Early Findings

  • Wellsheet was one of 10 finalists competing in the 2019 MedCity INVEST Pitch Perfect competition.
  • Previous Wellsheet investors include Real-Life Innovations, Newark Venture Partners, and BioAdvance. The company has also participated in Newark Venture Partners’s accelerator program and The New Jersey Innovation Institute Health IT Connections program (to help with its marketing strategy).
  • One of Wellsheet’s prominent collaborations was with RWJBarnabas Health and Cerner. One of the stakeholders (Joseph Scott, executive vice president of health care transformation for RWJBarnabas Health) spoke highly of the product and noted that the large New Jersey integrated health system fully implemented it at two facilities.
  •  Limoli gave an interview at the New Jersey Health Tech Startups conference in 2018 and noted that "'There are a lot of new things happening with Wellsheet. ' The company had ‘just gotten back from HIMSS18, the health information, and technology conference in Las Vegas, and we were exhibiting there for the first time. We got a lot of attention from the health systems, and there were a lot of potential partners there. We had also just updated our branding, so we launched a new website.' The company is currently 'focusing on its mission, which is to help doctors practice more easily, get the information they need and reduce the frustrations they have with existing systems. Our new slogan is ‘doctor-friendly by design.'"
  • Wellsheet’s 2017 venture deal was noted at $570,000 with a total financial amount recorded at $670,000.
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