Medinas Health, a San Francisco, CA-based marketplace for healthcare organizations to buy and sell surplus and short-date medical supplies and equipment, raised $1M in seed funding.
The round was co-led by Ashton Kutcher & Guy Oseary’s Sound Ventures and General Catalyst’s Rough Draft Ventures, with participation from Precursor Ventures, Trammell Ventures and angels.
The company intends to use the funds to launch a beta to pilot its platform with partners in mid-2018 with the goal to build out initial sales by onboarding healthcare organizations (e.g., hospitals, ambulatory surgical centers, vet practices, and nursing homes) and product suppliers (e.g., original equipment manufacturers).
Led by CEO Chloe Alpert, Medinas is a data driven marketplace that allows healthcare organizations to securely buy and sell their surplus and short date medical supplies. The company aims to save a significant part of the $765 billion in wasted healthcare dollars by assisting healthcare organizations to monetize (1) surplus medical supplies/equipment, and (2) short date products that would otherwise be discarded, therefore significantly reducing medical waste. Medinas Health’s platform integrates with existing systems and workflows at healthcare organizations to provide a user-friendly buying and selling experience.