TCP Venture Capital’s Propel Baltimore Fund has announced the acquisition of its portfolio company Rocket Doctor by Treatment AI, which is listed on Canada’s OTC exchange. Both are digital health companies that have built technology that enables virtual care.
Founded in 2012 by Christopher College and Stuart Sutley, Hampstead, Md.-based TCP is a Baltimore-based venture capital firm focused on early-stage technology startups. Its Propel Baltimore Fund backs startups in Baltimore or those willing to relocate to Baltimore. Companies backed by TCP include cybersecurity ZeroFox, WellDoc, RedOwl, EcoMap, Qalityx, Indicio, Minnowtech and Impruvon Health.
Ontario to Baltimore
The firm is led by managing partner College, who previously headed the Private Finance Group at Stifel Nicolaus. He also has worked at Legg Mason Wood Walker and Robert W. Baird & Co. College is credited with closing over 100 deals totaling over $2.5 billion in value. Sutley serves as a general partner, besides holding a senior position at Bolton Health.
Dr. William Cherniak, who serves as CEO, and chief operating officer Harry Cherniak co-founded Rocket Doctor in 2019. William is associate faculty at the Johns Hopkins Bloomberg School of Public Health, after holding a similar position in Canada.
Founded initially in Ontario, Canada, Rocket Doctor relocated to Baltimore. It says it has helped over 300 doctors tap wireless medical devices to fulfil more than 500,000 patient visits across North America. It runs a digital health platform and marketplace using large language models with AI and machine learning. Rocket Doctor’s technology collects patient history in advance of a visit, automatically creates medical notes, matches patients with the right doctors and translates over 200 languages.
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Rocket Doctor has operations in Ontario, Alberta, British Columbia and New Brunswick in Canada. In the United States, its services are available in California, Maryland and New York.
Dr. Kevin Peterson founded Treatment AI and serves as its chief medical officer. He is a professor emeritus of Family Medicine at the University of Minnesota Medical School. Treatment AI is led by Dr. Essam Hamza, former founder and CEO of CloudMD.
“We are thrilled to welcome the Rocket Doctor team into our ecosystem. Bill and Harry [Cherniak] have built an innovative, proprietary, and rapidly growing platform that empowers physicians to build and seamlessly integrate digital and virtual care into their practices,” he said.
