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Get to know the newest MEMOTEXT team member

Milind Parate

Chief Financial Officer & Investor Relations

 

Milind joins MEMOTEXT with more than 16 years on Wall Street where he covered the healthcare sector across investment banking (M&A, corporate finance, capital markets, investor relations) and equity research. He has split his time between the therapeutics and healthcare services/HCIT verticals.

 

Q. Why did I join MEMOTEXT?

A. I spent 16+ years on Wall Street, covering many of the healthcare verticals (therapeutics, services, technology) across both investment banking and equity research. I reached a point in my career where I wanted to embark upon a new path, a new challenge – call it a sort of Act II. In considering my future options, I knew that I wanted to work in a more entrepreneurial endeavor, in an area that sat at the intersection of healthcare and technology, and patient engagement with direct outcomes.

I had the opportunity to work with MEMOTEXT in recent years, during my time in investment banking. I was impressed by the fact that the relatively young Founder/CEO started his career in Computer Science 20+ years ago – well ahead of the curve, I thought.  He had managed to develop multiple business units – patient adherence backed-up with solid data, a machine learning-based technology platform (AI), and a co-commercialization methodology, all of which have their own value proposition as reflected by the uptake across multiple client types – providers, payors, PBMs, and insurance companies.

MEMOTEXT has built a good business that generates revenue and turned EBITDA positive in 2017, achieving this without having taken any outside money (i.e., VC, PE), I might add.  The Company is now at a critical inflection point, in terms of growth opportunities, its partnership pipeline, and enhanced product development.  So, when the opportunity to join the team as their Chief Financial Officer & Investor Relations – I could not pass it up.

 

Q. Why do I like HCIT?

 A. There are many areas of healthcare technology to which I gravitate, whether it’s patient engagement, improving outcomes, population management, preventative care, or understanding targeted therapies.

The idea of analyzing data to address all of these areas fascinates me to no end.  Developing algorithms to know us better than we know ourselves – this is the future, and is already happening now.  The analysis from the trove of data that already exists can help us achieve insights that we were not capable of developing in recent years.

Another area of healthcare technology that is of strong interest to me is using technology to address the underserved or inaccessible communities, particularly in developing countries.  Seeking ways to develop technologies that can benefit large parts of a population (e.g., India), from prevention to diagnosis, treatment to patient care.

 

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