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Health IT VC Report: Practice Fusion Raises Another $15 Million

December 13, 2013
by Gabriel Perna
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Practice Fusion, an EHR vendor out of San Francisco, announced a Series D extension of $15 million in new funding this week.

The capital, led by Qualcomm Incorporated, raises the total of Series D venture capital (VC) funding for Practice Fusion to $85 million. Earlier, in September, the company received $70 million from Kleiner Perkins Caufield & Byers (KPCB) and institutional investors OrbiMed Advisors, Deerfield Management Company and Industry Ventures with participation by its previous venture capital investors including Artis Ventures.

The latest round of investment, Practice Fusion says, brings its total funding raised to date at $149 million. It will help the company grow its platforms, having launched various services in 2013, including a physician appointment booking site, various APIs, and a data analytics platform.

“Practice Fusion doctors have facilitated six percent of all patient visits in the US this year. This huge reach makes us the front-running health technology company, and we’re going to double that reach next year,” Ryan Howard, CEO of Practice Fusion, said in a statement. “From connecting doctors and patients to using sophisticated data decision support to drive better care, we’re the health company to watch in the year to come.”

The company has its sites set on an eventual initial public offering (IPO).

Telehealth Startup Raises $3 Million

Doctor on Demand, a telehealth startup company which allows patients to connect with a physician via an iPhone, Android, or tablet device, received $3 million in seed funding this week.

The seed funding came from financial institutions including Venrock, Andreessen Horowitz, Google Ventures, Lerer Ventures, Shasta Ventures as well as Athenahealth CEO Jonathan Bush.

Doctor on Demand has formed partnerships with various health systems. Its physician network has grown to 1,000 physicians nationally, the company said. Already, the company is available in California, Florida, Georgia, Illinois, Indiana, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia and Washington.

“Doctor On Demand seamlessly integrates modern technology with high quality, patient-centric and cost-effective care,” Pat Basu, M.D., a former Stanford physician and White House Fellow, who oversees this network of physicians for Doctor on Demand, said in a statement. “Not only does this improve the lives of patients and doctors, but it can be one of the solutions for the cost, access and capacity issues that currently plague our health care system.”

emids Raises $13.3 million

emids Technologies, a Nashville, Tenn.-based provider of a health IT interoperability platform, has raised 13.3 million from Baird Capital’s venture capital group of Chicago and Nashville, Tenn.-based Council Capital.

“This investment validates our business model and the scalable platform we have built to provide services and solutions to our customers,” Saurabh Sinha, president and CEO of emids, said in a statement. “Baird Capital and Council Capital are the ideal partners to work with to expand emids and meet the growing demand for information technology and business process services tailored to the unique needs of healthcare organizations.”




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