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HMD
was founded in August 2001 by former executives from Quorum Health
Group, Brentwood, TN, who recognizing
the potential for using technology to improve healthcare. The Company received its initial funding from an early stage
venture capital firm, Evergreen Investments and Management, LLC, and, in
February 2003, a syndicate of investors led by CB Health Ventures
acquired a majority interest in the Company.
In order
to secure the needed expertise to execute its business plan, the
Company acquired Executive Learning, Inc., in December 2001, a
nationally recognized health care consulting firm specializing in
performance improvement and customer service.
HMD developed The Smart Hospital® project by creating partnerships with
physicians through 2009; however, the Patient Protection and Affordable
Care Act of 2010 eliminated the opportunity for physicians to acquire
ownership in hospitals. This healthcare reform act which became
law as of March 23, 2010 has required HMD to modify it's business
strategy with a focus on development through partnerships and consulting
agreements with other hospitals and healthcare systems. HMD has
been a development partner for new hospitals in Louisiana, North
Carolina, Oklahoma and Texas ranging from 10 beds to 110 beds in size.
HMD
has extensive experience in hospital management, physician practice
management, technology, finance, law, compliance, sales, performance
improvement, customer service, and building healthcare companies.
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