Binghamton entrepreneurs are choosing to invest in their community following a March pitch event hosted by Binghamton University’s Office of Entrepreneurship and Innovation Partnerships. The event attracted over two dozen local investors to the Koffman Southern Tier Incubator to watch pitches from four promising startups part of the University’s Binghamton Incubation Program. After analyzing the companies in more detail, an investment was secured last week in Telehealth365 by local property developer, Justin Marchuska II.
TeleHealth365, is a family-operated startup by the Sharma brothers, Amit and Amar, and their uncle. The company has created a comprehensive telemedicine solution through a cutting-edge platform supported by a nationwide network of medical specialists and sub-specialists. Their platform allows physicians to remotely examine patients in real time, reducing hospital readmissions, generating revenue for rural hospitals/clinics, and most importantly, saving patient lives by reducing appointment wait times.
The undisclosed investment brings total capital raised to $715k, with follow-on investments expected. This funding will help progress TeleHealth365, which is already generating significant annual revenues, across New York as well as Texas, Florida, and California. Additionally, the funding allows for integration of top medical expertise from hospitals like Mount Sinai in New York City as well as rural hospitals such as Bassett Health in Cooperstown, NY.
Justin Marchuska II, Co-Founder of Marchuska Brothers Construction, is enthusiastic to be investing in the community.
“This investment is a commitment to foster future business leaders who are making an impact on our local community, as well as a testament to the great work being done at the Koffman Southern Tier Incubator with these startups. I hope this inspires other upstate New York entrepreneurs and businesses to take an interest in developing our next generation of innovators who are effectuating change locally and beyond.”
TeleHealth365 Co-Founders Amit and Amar Sharma are grateful for the investment.
“We are very excited about the funding we have received from fellow Vestal Alum and entrepreneur, Justin Marchuska II. Getting the support from our community is by far one of the greatest compliments we can receive. We will continue to push ourselves in order to bring jobs back to our supportive community. In the short term Justin’s investment coupled with our strong partnerships with UnitedHealthcare, Mount Sinai, and Bassett Hospitals will allow us to expand our footprint and improve the lives of New York’s most vulnerable population by providing them access to Telehealth365’s fast growing telemedicine platform and network of specialists.”