John Fraser is no stranger to Minnesota’s healthcare industry — he’s started and scaled not just one, but two, nationwide healthtech companies that have since been bought out.
Much could be written about both of these respective firms; the long story short is that ABILITY was bought by Bain Capital in 2008, spun out again, and eventually resold to Summit Equity for $550m in 2014. Still headquartered in Minneapolis to this day and now approaching 400 employees, ABILITY has demonstrated continued growth via acquisition with no signs of slowing down.
ApeniMED, on the other hand, made health information exchange software that appealed to Wisconsin’s IOD, which acquired ApeniMED for an undisclosed price in 2013.
Fraser, with MD partners Robert Scott and Kevin Peterson, is now on the cusp of this third healthtech venture: Treatment.com.
He loosely describes Treatment.com as the evolution of an earlier brand name IQmed, which at the core, is an artificial intelligence engine for doctors to increase diagnostic accuracy by double digits, starting with the most common medical problems seen by primary care providers.
The solution will be delivered to customers (health systems, clinics, hospitals, etc) via the provider’s electronic medical record (EMR) system and accessible via the web and mobile solutions.
Treatment.com is currenlty in the R&D phase, and according to this SEC disclosure, seeking to obtain $350k in convertible debt. As such, Fraser resisted overdisclosure for now, simply saying notable AI researcher David Poole from The University of British Columbia and other experts sourced from the University of Minnesota have been retained for the IP development.