The startup’s model is synergistic: It serves medical associations and medical centers that provide content that can be monetized through shares of advertising and subscription revenue, while simultaneously educating clinicians who must continually work to stay abreast of current practices and meet continuing medical education requirements (CME-CE).
The company is now building clinician use among physicians, pharmacists, nurses, allied health professionals and others.
Interviewed for this story, the cofounders confirmed that the $2MM Seed equity raise is now underway; and, that the company had previously raised $1.6MM in angel funding, via convertible-notes offerings.
Investors in ConveyMED have thus far included Memphis-based MB Venture Partners, Atlanta-based 550 Capital Partners and Cincinnati-based Queen City Angel
Memphis-based MBVP’s Gary Stevenson and Queen City Angels’ John Bruck serve on the ConveyMed board of directors, along with both CEO Donoghue and CCO West. Bruck splits his time between Cincinnati and Knoxville, where he is director of the University of Tennessee UT Research Park’s SPARK Innovation Center. ConveyMED’s leadership also includes CTO Kevin Yancy (LinkedIn), a former IT project and security manager for FedEx Services and software developer for Lokion; and, Chris Patteson MBA (LinkedIn), whose CTO/CISO and risk management roles have included tours with FedEx, Archer, Bridgestone, Black and Decker, UPS, and other majors.
The company’s outside advisors include attorneys with Waller Lansden and with Nelson Mullins.
Its accounting is with Memphis-based Frazee Ivy Davis and it banks with Renasant Bank.
Donoghue said in a recent online post, in part, “Our mission is to elevate podcasting as a medium for medical education and the ConveyMED brand represents our commitment to offer the highest caliber educational content in the most convenient way possible (that would be podcasts!) to all healthcare professionals.”
While its content is delivered via conventional “podcast” channels, ConveyMED’s founders believe their content is well differentiated on the basis of rigorous curation of clinical guideline reviews, case-based discussions, flipped-classroom options, mini-courses, question banks, and visual content that augments audio, .
EO Donoghue was previously SVP for global marketing for Smith & Nephew Orthopaedics, the UK-based medical devices company that has a major Memphis presence.
Donoghue earned his MBA at Christian Brothers University in Memphis; and his bachelor’s in physical therapy at the University of Tennessee Health Science Center. His LinkedIn profile here.
COO-CCO West previously led the ZeroTo510 life-sciences accelerator in Memphis, a post he assumed after management-team roles in five different healthcare, medical and pharma businesses
West earned his MBA at Duke University’s Fuqua School of Business and his bachelor’s at the U.S. Military Academy West Point. His LinkedIn here.
Following graduation from West Point, West served as a U.S. Army Infantry officer deployed in First Gulf War, where he was awarded a Bronze Star for actions in combat. His other awards included an Airborne Badge, the Ranger Tab, and the Combat Infantryman’s Badge. VNC
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| Published May 12, 2022 |
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