Founder of Utah's MediConnect starting 'mentor capital' firm
MediConnect Global founder Amy Rees Anderson has left her CEO post and formed a new "mentor capital" firm that also will be able to provide startup capital for entrepreneurs trying to build businesses.
Anderson left MediConnect at the end of last month and formed REES Capital, with REES standing for Recognizing & Empowering Entrepreneurial Success.
As founder and CEO, Anderson led the medical records and health information company for nearly nine years. It has had a rate of growth of more than 1,500 percent since 2004, she said.
MediConnect was acquired earlier this year by Verisk Analytics for $377.8 million, and Anderson said she has been easing out of her post for several months.
"Having started something, to growing something, to exiting it, and being through all of the life lessons you learn, it's a huge passion of mine to take everything I learned and be able to teach it to other people," Anderson, 41, said Tuesday. "A lot of it isn't rocket science, but if you haven't been through it you learn everything the hard way."
REES Capital will provide mentoring services for free, including talking through ideas and offering advice. For cash or equity, it also will provide advising services. The partners will be looking to do some angel investing in companies, from $25,000 to $2 million.
Former MediConnect Executive Vice President of Business Development Adam Casto and former Chief Operating Officer Shani Allsop are joining Anderson as partners at REES Capital. They also will offer expertise, and the three partners will decide individually whether to invest in companies, Anderson said.
She said REES Capital will be have offices in a former restaurant/sports bar in South Jordan that is being converted but will retain its outdoor patio, a wet bar and big screen TVs.
"Entrepreneurs have such energy, such a fun spirit, that I wanted an office that was reflective of that," she said.
The company is expected to launch Wednesday and plans to be in its new offices in a couple of weeks.