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Medical venture entrepreneurs say funding climate improving

Dallas Morning News, July 22, 2010

Entrepreneur Gary Wald wants to raise more than $800,000 to market NetMed Care, which is developing e-clinics staffed by an on-site nurse at large companies.

"Telemedicine has everybody intrigued," said Wald, who already raised $200,000 and helped start another telemedicine company. "This will change medicine as we know it."

In his latest fundraising effort, Wald on Wednesday pitched his company to dozens of potential angel and venture capital investors at the second annual MedVentures conference in Frisco. He hopes to open the first e-clinic at a Dallas office tower by the end of the year and projects revenue of $41 million in five years.

The consensus of entrepreneurs at the conference is that the fundraising climate is getting better after a rough few years, but there's still a dearth of seed and start-up money.