TECHdotMN: News about Minnesota Startups

Twin Cities healthIT startup Zipnosis is moving into nine new US markets this week, according to CEO Jon Pearce.

The web and mobile product launched three years ago from Minnesota to provide virtual rapid diagnosis and treatment to patients for minor health ailments at $25 per diagnosis — or zip — as they’re branded.

Zipnosis grew to Colorado and Washington last year, which raises the reach to 12 states in total now, including: Alaska, Connecticut, Illinois, Kentucky, Maryland, Massachusetts, New York, Rhode Island, and Wisconsin.

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European startup accelerator HealthXL will be touching down in Minneapolis on January 29th to host a nationwide “preliminary selection day” held at Worrell Design.

By offering mentors, money, and media, the Dublin-based initiative is seeking to recruit 10 HealthIT startup companies from around the world for their next class beginning in February.  Over 100 entrepreneurs have already submitted their applications for a chance to pitch the crowd, and more are yet anticipated.

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St. Paul-based startup Zipnosis allows for the diagnosis and treatment of minor health problems using a computer or smartphone 24/7.  After completing a one-minute ‘zip’, patients receive their online diagnosis and prescription for $25 (less than the average co-pay, minus the inconvenience).

“Zipnosis is a fundamental and sustainable shift in how we think about healthcare,” says co founder and CEO Jon Pearce.

Pearce co founded the startup in 2008 while in grad school at the University of Minnesota, Carlson School of Management.  Later that year, Zipnosis would proceed to enter and win the Student Division Minnesota Cup.

So far, Zipnosis has raised “a little over a million dollars,” and just this week announced the beginning of a national expansion strategy.

“I initially thought that the Minnesota Cup would be a distraction,” he reflects, “when actually, it was the best business decisions we’ve ever made.” Applicants have until 11:59pm on May 20th to submit their three-page business plan summary.

Via News Release

“(St.Paul) Minnesota-based Zipnosis today announced that it will launch services in Colorado and Washington on May 15.  Zipnosis has revolutionized the traditional doctor’s waiting room experience by providing safe, online diagnosis and treatment of nine common health needs, including: colds, flu, sinus infections, cold/canker sores, seasonal allergies, acne, tobacco cessation and female bladder infections and yeast infections.

“We’re excited to offer Colorado and Washington state residents access to the most affordable and convenient health care in America,” said Zipnosis CEO/Co-Founder Jon Pearce. “Our online diagnosis reduces access and payment barriers, while ensuring a safe, appropriate diagnosis in minutes.”

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Minneapolis-based Zipnosis, an “on the go” provider of remote diagnosis and treatment solutions for individuals suffering from basic health ailments, recently filed notice that the company aims to raise up to $2m in investment capital.

While the SEC Form D (Notice of Exempt Offering of Securities) filed on June 25th indicates that only $62.5k has been raised to date in this offering, securities attorney Michael Schley of Larkin Hoffman explains that  “It’s not uncommon for startup companies to file their Reg D exemption notices early in their funding cycle, sometimes even before the first sale.  Although an issuer must file amendments upon certain material changes, sales up to the stated amount do not require such a filing and the Form D will suffice for a period of up to one year while the issuer completes its offering.”

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