HealthSpot
closedTelemedicine kiosks for retail and workplace locations.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | $11.6m | Debt | |
| Total Funding | 000k | ||
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HealthSpot, Inc. was a telehealth services company founded in 2010 by Steve Cashman and Kevin Banion in Dublin, Ohio. Cashman, with a background in the software and consumer electronics industries, aimed to provide greater access to affordable healthcare by bringing the doctor to the patient.
The company developed the HealthSpot Station, a 40-square-foot, fully enclosed kiosk designed for private medical consultations. These stations were equipped with high-definition videoconferencing and integrated medical devices, including a stethoscope, otoscope, pulse oximeter, and blood pressure cuff, allowing physicians to conduct remote examinations. Patients could either schedule an appointment or walk in, with services covered by insurance or a flat fee. HealthSpot's business model involved placing these kiosks in convenient locations like retail pharmacies, corporate offices, and clinics. It formed significant partnerships with major organizations, including Rite Aid, the Cleveland Clinic, Mayo Clinic, and Xerox.
The company raised approximately $48 million in funding from investors such as Cardinal Health, Xerox, and Cox Communications. Despite these partnerships and significant funding, HealthSpot struggled with customer adoption and a viable revenue model. The cost of the kiosks, coupled with a business model that required pre-scheduled appointments, limited its appeal compared to on-demand telehealth services and urgent care centers. After generating only $1.1 million in revenue over three years against liabilities of $23.3 million, HealthSpot ceased operations at the end of 2015 and filed for Chapter 7 bankruptcy in January 2016. In June 2016, pharmacy chain Rite Aid acquired HealthSpot's assets, including its 191 kiosks and intellectual property, for $1.15 million.
Keywords: telehealth kiosk, telemedicine services, remote diagnostics, virtual consultation, healthcare technology, medical kiosk, video consultation, HealthSpot Station, Steve Cashman, Rite Aid telehealth, remote patient examination, digital health, retail clinic, workplace health, remote medicine, telemedicine bankruptcy, healthcare access, medical devices, virtual care, Chapter 7 bankruptcy