MagnaBid

MagnaBid is an online medical marketplace that works like Priceline.

Patients can name their price for a medical or cosmetic procedure and get matched with a doctor's offer.

The company has been built by Healthcare professionals. Dr. Anita Sabeti created MagnaBid out of her own frustration with existing medical marketing solutions. She found that health industry middlemen were prohibiting patients from securing procedures at affordable prices and doctors were stuck seeking new patients through inconvenient sites like Groupon and Yelp.

With the help of her husband and computer scientist, Ben Mansouri, and his cousin Pez Zarifian, who works for NASA's Jet Propulsion Lab, the three developed an online platform that gives doctors like Dr. Anita the flexibility to customize offers based on their schedules and let patients name their price.

MagnaBid currently has a community of early-adopters in Southern California. With the proceeds from this investment round, it plans to gradually cover the entire United States.

HOW IT WORKS
The site is 100% free for the patients, which allows them to place their bids as soon as they sign up using their cell phone number.

The company's medical board conducts a background check of the doctors who sign up in order to ensure that only certified providers can offer their procedures through its site.

When a match is made, the doctor is charged 3% of the price tag of the offer, or $10, whichever is less and then it introduces the patient and the doctor. This relatively small fee allows for lower cost of customer acquisition for the doctors.

Patients also have the flexibility to put their bid in their "WishList" and the company will negotiate their requested price with doctors on their behalf.

Current procedures on MagnaBid include Cosmetic, Dental, Weight Loss, and Mental Heath.

Team Background

Anita Sabeti, MD - President and Medical Director

Anita is board certified pediatrician.

Prior to joining MagnaBid, Anita was president of Luminix-Teen Skin Centers where laser technologies was used to help countless teenagers with skin problems.

She is an attending at Cedars Sinai Medical Center and worked as voluntary attending at Women’s and Children’s Hospital, Los Angeles.

Anita is a graduate of LAC-USC pediatric residency program.

Pez Zarifian - CEO

Pez is a systems engineer in NASA’s Jet Propulsion Laboratory (JPL). He has led a number of highly complex software development projects at JPL and other companies.

While working at JPL, Pez orchestrated a small team to develop a prototype for a programmable education robot for kids, called Quiby.

Before joining JPL, Pez worked at University of Southern California's (USC's) Information Sciences Institute (ISI) , where he managed a number of technical projects.

Pez is a USC graduate at Viterbi School of Engineering.

Ben Mansouri - CTO

Ben is a technology veteran with over 25 years of experience in developing software solutions for a wide range of companies.

Prior to Magnabid, Ben managed several software consulting companies and he has run Business Intelligence teams for companies such as SlickDeals, VCA, PeopleMedia.

Ben pioneered PC software engineering programs in Iran and was named one of the best CTOs under 30.

Co-Investors