From Idea to Series A – Mentors Catalyze Growth
Jeff Shepard, MedaCheck CEO, identified a $360 billion problem in the healthcare industry and set out to fix it. He noticed that 50% of patients do not take their prescribed medication and designed a simple reminder system to solve the problem.
Jeff had all the ingredients for launching a great startup. He had prior success as an entrepreneur, but for this particular venture he needed help getting started.
Cintrifuse supplied Jeff with resources critical to his company’s success. With our help, he turned MedaCheck into a successful company from a nascent idea.
Mentors Guide the Way
Cintrifuse connected Jeff with two mentors that were, and still are, pivotal to the company’s development.
His first mentor, Dana Soper, former CEO of Carepoint Solutions (since sold to BioScrip for over $200 million), gave Jeff valuable insights into the healthcare industry. She saw such potential with MedaCheck, she converted from being a mentor and now serves as Chief Strategy Officer.
Our mentors had an incredible impact on our progress so far. Their relationships, technical knowledge and industry experience helped us focus our strategy.” -Jeff Shepard, MedaCheck CEO
After Dana joined the MedaCheck team, Jeff Carr, Cintrifuse Executive-In-Residence (EIR), assumed the mentor role for MedaCheck. Thanks to Carr’s experience as an executive with Cincinnati Bell, the company negotiated an extremely favorable deal with Avant-Garde, a third-party call center. Jeff continues to advise MedaCheck and has developed a strong relationship with Shepard.
Pivotal Talent Connections
Not only did Cintrifuse’s involvement with MedaCheck supply the company with valuable mentors but it also gave the fast-growing startup access to talent.
In fact, our talent connections team introduced Jeff to the majority of MedaCheck’s team. Dana Soper, Chief Strategy Officer, was a previous mentor. Kerry Conaty, Chief of Staff, met Jeff Shepard as an employee of Cintrifuse. And, Nancy Koors, previous Cintrifuse EIR and interim CEO, continues to consult for MedaCheck.
Connections Lead to Funding and Customers
MedaCheck also tapped into a valuable network of VCs and potential customers through Tim Schigel, Cintrifuse Fund Manager. With Tim’s help, MedaCheck develop a targeted list of potential funders and eventually secured a $1.15 million Series A round this Spring (2015).
Cintrifuse has been so helpful building relationships and making connections and that’s really what an ecosystem needs” -Jeff Shepard, MedaCheck CEO
Tim also played a role in connecting MedaCheck to potential customers. Because of Tim’s relationships, MedaCheck landed Mercy Hospital and Cincinnati Children’s Hospital, two of Ohio’s largest healthcare providers.
The Cintrifuse Impact
MedaCheck’s success demonstrates the power of a startup hub. From the beginning, Jeff Shepard was heavily engaged with Cintrifuse and, because of that engagement, gained access to mentors, talent and funding. The relationships he forged at Cintrifuse spurred MedaCheck’s success.