INDIANAPOLIS, Dec. 12, 2023 — Boomerang Ventures, a leading combination venture capital and studio firm, announced a strategic investment in Primary Record, an early-stage company developing a medical health data application. Completed in October 2023, the investment marks a milestone for Primary Record, securing $1M and a Venture Capital Investment tax credit of 30%.
Primary Record enhances the family experience of navigating healthcare through its secure mobile health app that consolidates personal health data, simplifying communication and sharing to improve care coordination while reducing costs.
“Primary Record was born from the idea that families should have the tools to own and share their health information. This investment will provide crucial support as we pursue our vision,” said Jean Ross, RN, Co-Founder, Primary Record.
Research indicates that 50%+ of the U.S. population suffers from one chronic condition, while 27%+ face multiple chronic conditions, and the prevalence of multiple chronic conditions among adults age 65+ with Medicare is 58%+. 40%+ of school-aged children live with a chronic condition. As the 21st Century Cures Act reshapes how medical data is shared, Primary Record is well-positioned to play a pivotal role in modernizing healthcare data management.
“Co-leading this deal in Primary Record alongside Render Capital presented a game-changing opportunity in personal health information management,” said Oscar Moralez, Founder & Managing Partner, Boomerang Ventures.
Primary Record’s mobile app launched on December 1, 2023, initially focused on end-users, families, and community partners. The company’s roadmap includes expanding its offerings to public and private healthcare agencies in Spring 2024.
About Boomerang Ventures
Founded in 2019, Boomerang Ventures is a venture capital firm focused on early growth-stage connected health technology companies. Leveraging a combination studio and venture fund established in 2020 and 2022, respectively, Boomerang provides the collaborative direction, deep industry expertise, and continuum of support founders need to take their innovations from ideation to market. Visit Boomerang.vc.
About Primary Record
Primary Record is a healthcare technology company on a mission to simplify medical information for families. Established in 2020, Primary Record offers a user-friendly mobile health app designed to streamline the collection, organization, and sharing of personal health data. By facilitating better communication within care teams and putting healthcare information at the fingertips of families, Primary Record aims to improve the coordination of care and reduce costs.Visit primaryrecord.com.
Media Contact:
Audra Wait
Wait & Co. (on behalf of Boomerang Ventures)
[email protected]
615-504-8812
SOURCE Boomerang Ventures
