A number of what are called Health Wildcatters startup companies have been attempting to raise funds. These companies graduated from a Dallas accelerator program with the goal of changing the manner in which healthcare is practiced. This program was designed to pair business startups with a network of investors and mentors in the Dallas area.

One of the companies involved in the program spoke of how this program helped them gain close to $400,000 in securities offering or seed funding. This company works to connect those in need with senior care facilities and services. Another company that creates applications for gaining access to behavioral health care services raised $140,000. A company that provides meal planning for patients with special dietary needs such as diabetics raised $400,000. And a company that provides a physical therapy monitoring program was able to raise $500,000.

Healthcare is a highly regulated industry and advice concerning compliance with various state and federal laws is needed. It is also impossible to form a business without having access to capital. Unfortunately, not every startup company has access to these kinds of programs where resources for funding and advice can be located. However, there are professionals who can assist companies through the entire business formation process to make certain that as few mistakes as possible are made while the company moves forward.

Experienced attorneys can assist companies in choosing the type of business entity that would best meet their needs. Attorneys can also help concerning tax issues, creation of contracts, and in providing guidance regarding any number of challenges that may arise.

Source: Dallas Business Journal, “Health Wildcatters startup class raises $5M in six months,” Bill Hethcock, June 10, 2014