Lafayette General Foundation’s Healthcare Innovation Fund Invests In New Orleans-Based RDnote
Lafayette, La. — RDnote, a digital health company based in New Orleans, has been selected by the Lafayette General Foundation (LGF) to receive a $250,000 investment through its subsidiary Healthcare Innovation Fund (HIF). This follows the HIF’s initial seed equity investment in RDnote in 2016 and will allow the company to expand its technical and clinical staff to meet the growing demand for its products and services.
RDnote’s mission is to integrate clinical nutrition best practices throughout the healthcare industry using technology to improve quality of patient care. Targeted nutrition care using technology is a high-impact, low-cost solution to improve the overall quality of care in many healthcare settings.
RDnote products improve the quality of care for patients struggling with both acute and chronic conditions, such as congestive heart failure and diabetes, making the company a natural fit with LGF's mission to link investors’ passion to the mission of Lafayette General Health, To Restore, Maintain and Improve Health.
“Investing in RDnote directly aligns with our Healthcare Innovation Fund, which was designed to invest in companies that are committed to increasing the quality of care given to patients through the use of technology,” said Lafayette General Foundation Executive Director Cian Robinson.
Since receiving HIF’s initial investment in late 2016, RDnote implemented its nutrition-focused clinical decision support software at Lafayette General Medical Center and has recently scaled to deploy its solution in all seven hospitals in the Lafayette General Health system. The company is expanding to additional hospital systems within Louisiana and is in discussions to expand its technical and clinical expertise to providers outside of Louisiana.
“RDnote is unique in that in ties nutrition to intervention, diagnoses and treatment, providing a full continuity of care to ultimately improve patient outcomes. Our clinical staff is impressed with the tools provided by RDnote and we look forward to expanding the existing partnership and enhancing the patient experience at our facilities,” Robinson continued.
The RDnote founding team consists of Molly Hegarty, a former Intel engineer and a Registered Dietitian whose clinical and technical expertise drive RDnote’s product development, and Brett Long, whose experience with venture capital, public policy, and start-up incubation have contributed to the development of RDnote’s strategy and business operations. Hegarty received her B.S. from the University of Michigan’s College of Engineering and an M.S. from Bastyr University’s School of Nutrition and Exercise Science. She completed her Dietetic Internship at Tulane University’s School of Public Health. Long received his B.A. and B.S. from Tulane and his Masters from Harvard University.
“We are very excited to see the impact on both patients and clinicians. Seeing our tools used to help patients improve their health in the hospital setting reinforces our mission to expand access to high quality nutrition care in all settings,” says Molly Hegarty, founder, RDnote.
LGF selects recipients after a rigorous review process designed to determine both the company and/or product’s marketplace potential and its ability to achieve it. The Foundation’s board must approve the investment, and only do so if the evaluation process is completely satisfied.
Lafayette General Foundation’s Healthcare Innovation Fund was capitalized through a $1.5M investment from Lafayette General Health (LGH) and $1M from the Louisiana Seed Capital Program under the Louisiana Economic Development Corporation (LEDC). LEDC allows investment funds such as HIF to leverage the Federal Treasury Department State Small Business Credit Initiative funds with private funds to invest in seed and/or early stage businesses located in Louisiana.