iRemedy Healthcare

iRemedy Healthcare has taken a page out of Amazon’s playbook.

It’s created an online marketplace. But while Amazon sells everything from clothes to tools to electronics, iRemedy’s marketplace focuses exclusively on medical supplies, a market projected to reach $163 billion by 2027.

iRemedy is considered a later-stage startup. It’s raised more than ten-million dollars in capital and has amassed more than 10,000 customers and 500,000 products. Notable customers include Johns Hopkins Medicine, Mayo Clinic, Trinity Health, Johnson & Johnson, and the American Red Cross. Last year, the company generated fifty-two million dollars in revenue.

Now iRemedy is seeking additional capital to continue its push to become the largest medical-supply resource in the world.

To build a marketplace akin to Amazon’s, it helps to have a team with experience creating such a product. And iRemedy certainly has that.

Its Chief Technology Officer, Jim Harding, spent four years in the early 2000s as Amazon’s Vice President of Technology and was personally tasked by Jeff Bezos to build a re-selling marketplace platform for merchants. Harding and Bezos worked together to create this marketplace from scratch in just eleven months. And today, it’s the largest platform for re-selling apparel in the world.

But iRemedy is focused on addressing problems with the medical-supply market — more specifically, three main issues.

Right now, supplies are too expensive. Supply shortages have become the new normal. And a negative ordering experience is frustrating buyers.

iRemedy’s marketplace helps doctors, hospitals, and healthcare providers get the lifesaving supplies their patients need fast and affordably. Notable features include:

• Transparent pricing: Providers can find the best deals right away and get supplies faster.

• Easy Order: Both of iRemedy’s business-to-business and business-to-consumer systems are state-of-the-art and user-friendly. There are no faxes necessary, no confusing order forms, and no need to spend hours on hold with sales reps.

• Supply Monitoring: iRemedy uses Artificial Intelligence (AI) to track inventory, shipments, and manufacturers’ activity 24/7.

Notably, iRemedy’s AI is called para-intelligence, which enables users and AI machines to collaborate to ensure customers get the products they need. This technology is key as humans and digital applications continue to work more cohesively in industries including healthcare.

iRemedy acts primarily as a distributor. It buys medical supplies at wholesale and then sells them to clients via its marketplace. This is how it generates revenue. The company works with logistics businesses like UPS, FedEx, and McKesson to manage deliveries for all of its clients.

Team Background

Tony Paquin - Co-Founder & CEO

Tony is a serial entrepreneur with extensive experience in the healthcare industry.

He began his career by starting Agency One, a provider of computer programs to American insurance companies. This company was acquired by CNA Financial Corporation, after which he became CEO of AMS Service, a CNA subsidiary.

From there he became President and CEO of Medinex Systems, a technology company bringing software solutions to hospitals and physicians practices. This company listed on the Nasdaq briefly before being privatized in 2002.

More recently, Tony spent time as an independent retail-healthcare consultant and started iRemedy Healthcare in 2005. He is the co-inventor on twelve pending and issued patents and studied at Michigan State University.

Jim Harding - Chief Technology Officer

Jim has extensive technology-related experience, including building online marketplaces similar to iRemedy’s.

In the early 2000s, he served as Amazon’s Vice President of Technology and was tasked by Jeff Bezos to build a re-selling marketplace platform for merchants. This became the largest platform for re-selling apparel in the world.

Additionally, he spent seven years as Founder & CEO of MultiScale Health Networks, a technology platform aimed at improving the healthcare experience. He was also Chairman of Alixir, a medical-technology company using Machine Learning to detect tumors in women.

Jim earned a Bachelor’s degree in Geography from the University of Washington.

Kevin Cheung - Chief Financial Officer

Prior to joining iRemedy in May 2022, Kevin was Division Chief Financial Officer with Stryker, a medical-equipment manufacturing company. He led the company’s Sustainability Solutions Division, a $300 million global business.

Before that, he spent three years with Kellogg’s, makers of consumer products like breakfast cereals. He was a senior finance manager and later Director of Supply Chain Finance. Prior to that, he was a finance manager with L3 Harris, a defense contractor.

Kevin earned a Master’s degree in Analytics from Northwestern and an MBA from MIT.

Co-Investors