ePocrates, the largest
handheld network for physicians, has secured $35 million in second round
funding from several of the most prominent healthcare and technology focused
venture capital firms. Participants in the round include lead investor,
Sprout Group, as well as Bay City Capital and all three Series A investors,
Draper Fisher Jurvetson, InterWest and Three Arch Partners.
"ePocrates has already proven to be a successful business venture, with
over 65,000 physicians currently using our products and services," said John
Voris, President and Chief Executive Officer of ePocrates. "This second round
of funding demonstrates investor confidence in the success we've already
achieved and in the future successes we are destined to accomplish. The
participation in this second round by all of our initial investors is a
testament to the way we have delivered on our initial vision and concept."
The ePocrates network provides physicians using Palm OS compatible
handheld devices with quick point-of-care access to important clinical
information. Since its November 1999 launch, the ePocrates network has grown
at an unprecedented rate, with the network expanding by of over 300 new
physician users per day. In the last seven months, ePocrates has announced a
wide range of strategic partnerships with industry leaders including Eli
Lilly, PCS, Cigna, Caremark, Advance Paradigm, and Palm Computing.
"ePocrates has proven that physicians are ready and willing to adopt
technology that provides real clinical value to their practices," said new
board member Dr. Philippe Chambon, General Partner at Sprout Group. "Through
its network, ePocrates is also building a unique channel of communication to
physicians that will allow the company to expand its product and service
The second round of funding will allow ePocrates to continue the
development of software that meets physicians' immediate needs, helping them
to improve patient care and practice more efficiently. Later this year,
ePocrates will introduce new products including formulary decision support
tools, up-to-date medical and general news and other transactional-based
services such as electronic prescribing.
ePocrates, Inc. is the largest handheld physician network enabling quick
point-of-care access to important clinical information. In less than nine
months, the ePocrates network has grown to over 95,000 users, including over
65,000 physicians. In addition to the qRx clinical drug database containing
information on over 1600 of the most commonly prescribed drugs, ePocrates will
soon provide formulary decision support tools, up-to-date medical and general
news and other transactional based services. Headquartered in San Carlos,
Calif., ePocrates is a privately-held company led by President and CEO John
Voris, former COO of PCS Health Systems and Eli Lilly veteran. The company
was founded in 1998 by Richard Fiedotin, M.D. and Jeff Tangney.