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Orion Health™ Completes $125 Million IPO in New Zealand

Trading Began on NZX Main Board and ASX in November

Boston, MA – December 16, 2014Orion Health, a leading population health management company, announced that shares of Orion Health Group Limited (Orion Health, the Company) began trading on the NZX Main Board and ASX following a successful IPO that raised $125 million (NZD) which included $120 million in new capital. Strong demand for the shares from eligible institutions and the clients of NZX firms saw the shares priced at $5.70, at the top of the indicative price range of $4.30-$5.70.

“Both our new shareholders and those who have supported the company over the last 21 years clearly understand the dynamics of the health data expansion and Orion Health’s ability to deliver world class solutions that will provide better outcomes for patients, providers and those who fund healthcare services,” said Andrew Ferrier, Orion Health Chairman. “Orion Health is now equipped with the resources necessary to invest in additional research and development to capture these once in a generation opportunities for innovation.”

“Health industries in many countries are aware of the impending funding crisis they will experience in the next few years. This will be driven by aging populations – the huge increase in health data likely to flow from new devices and the demands of patients for greater control over their own healthcare,” said Orion Health Founder and Chief Executive Officer, Ian McCrae. “Orion Health is already at the forefront with solutions that are delivering benefits to 450 customers across 25 countries. We are now funded to significantly increase our research and development efforts to expand our capability and solutions for customers.”

McCrae retains 98% of his shareholding and still holds 50.3% of the company. Orion Health’s shares trade with the code OHE on both the NZX Main Board and ASX. Deustche Craigs and First NZ Capital were Joint Lead Managers for the IPO.

About Orion Health Inc.

Orion Health, a population health management company, makes healthcare information available anywhere by providing healthcare IT connectivity in nearly every U.S. state and in over 30 countries worldwide—facilitating care for tens of millions of patients every day. With an inherent ability to interconnect a wide variety of healthcare information systems, Orion Health facilitates data exchange within and among provider organizations, accountable care organizations, health plans, governments and health information exchanges, to improve care coordination, enable population health management, enhance quality of care and help reduce costs. For more information, visit www.orionhealth.com. Connect with us on Twitter, Facebook and LinkedIn.

December 16, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Xerox and HealthSpot to Expand Telehealth Access in the US

Norwalk, Conn. — November 12, 2014 In a move that expands patient access to care,Xerox (NYSE: XRX) is investing in HealthSpot Inc., a pioneer in patient- and provider-driven healthcare technology. The investment enables groundbreaking telehealth to be delivered to patients in convenient locations nationwide.

Through proprietary cloud-based telemedicine software the HealthSpot® platform allows patients to interact with nationally recognized doctors. The average visit to one of HealthSpot’s fully enclosed, 40-square foot kiosks takes 15 minutes, offering patients convenient, timely access to doctors, specialists and prescriptions.

The investment from Xerox means HealthSpot can rapidly scale deployment of its kiosks and access Xerox’s relationships across the healthcare industry. Over the next five years, HealthSpot plans to deploy kiosks to retail pharmacies, large employers, long-term care centers and emergency departments throughout the nation.

“HealthSpot is at the center of healthcare’s shift to a patient-centered model of care, and our investment in the company demonstrates Xerox’s commitment to transforming traditional healthcare into a high-value delivery system for patients, providers and payers,” said Connie Harvey, chief operating officer of Commercial Healthcare for Xerox. “By combining the HealthSpot platform with our powerful brand and more than 40 years of healthcare experience, we’re helping patients unlock affordable access to care while positioning Xerox to play a significant role in the future of healthcare.”

Xerox is also partnering with HealthSpot to combine its software platform with Xerox’sbusiness process services expertise. As the exclusive BPO provider, Xerox will deliver cloud hosting, system integration, claims eligibility and claims submissions solutions. The kiosk will use Xerox’s IT infrastructure for appointment booking, as an interface to electronic health records and for insurance coordination.

“Telehealth is recognized as a solution for access, but to become a true extension of traditional healthcare requires more than just a mobile app and a videoconference with patients. We need an integrated and secure IT offering that is scalable, and our Xerox partnership will do just that,” said Steve Cashman, HealthSpot CEO. “Xerox is a dominant leader in healthcare services today, reaching two out of every three U.S.-insured patients and working with most U.S. states. Together with providers, payers and a powerful IT foundation, we will bring patients the evolution in care that they’ve long been waiting for.”
The terms of the investment were not disclosed.

# # #

About Xerox

Xerox is a global business services, technology and document management company helping organizations transform the way they manage their business processes and information. Headquartered in Norwalk, Conn., we have more than 140,000 Xerox employees and do business in more than 180 countries. Together, we provide business process servicesprinting equipment, hardware and software technology for managing information — from data to documents. Learn more atwww.xerox.com.

Xerox® Xerox and Design® are trademarks of Xerox in the United States and/or other countries.

About HealthSpot®HealthSpot® is healthcare, reimagined. A pioneer in connected care, HealthSpot has built a comprehensive healthcare delivery platform that combines cloud-based software with the award-winning HealthSpot station, digital medical devices and mobile applications. HealthSpot’s platform radically transforms today’s healthcare system by enabling the delivery of quality, affordable medical care through a diverse professional care network for patients in efficient, convenient locations like pharmacies, hospitals, clinics, employer and community sites, universities and the home. For more information on HealthSpot, go to www.healthspot.net.

The HealthSpot name and logo are registered marks of HealthSpot Inc. 

November 12, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Modernizing Medicine Closes First $15M Tranche of Expected $20M Round of Funding

New round of funding led by Summit Partners and Pentland Group is expected to support product development, market expansion and company growth

Boca Raton, Florida – November 11, 2014 – Modernizing Medicine, Inc., the creator of the Electronic Medical Assistant® (EMA™), a cloud-based, specialty-specific electronic medical record (EMR) system, announced that it has closed on approximately $15M of an expected $20M funding round. The latest funding comes from existing investors, led by Summit Partners and Pentland Group, many of whom are medical specialists who use EMA.

“At Modernizing Medicine we believe that properly captured and leveraged health data has the power to increase efficiency, improve patient outcomes and transform healthcare,” said Daniel Cane, CEO and co-founder of Modernizing Medicine. “This latest round of funding reinforces that belief and the strength of our market-differentiating products and services. With the investment we intend to continue focused development in the surgical-specialties, while also committing resources for development in telemedicine, IBM Watson and mobile applications.”

Developed by surgical physicians, EMA contains built-in specialty-specific medical knowledge and workflows. It can be accessed via the Internet virtually anywhere and at any time. This flexible format, combined with EMA’s touch-screen interface and advanced ICD-10 capabilities, gives providers the freedom they need to focus on their patients with the reassurance that charting plus coding for billing can be completed at the point of care.

Currently serving eight different medical specialties, more than 4,000 providers have adopted Modernizing Medicine’s EMA in their practices.

“Healthcare professionals need tailored technologies that make it easy not only to manage but also benefit from the exploding amounts of patient data,” said Michael Sherling, MD, Modernizing Medicine’s co-founder and chief medical officer. “In a relatively short time, we have developed a solution that does just that, enabling us to capture substantial market share and emerge as a physician-favorite EMR system. In the dermatology specialty alone, more than 26 percent of U.S. dermatologists now use EMA.”

Modernizing Medicine continues to be recognized for its exceptional culture, leadership and growth. The company expects its employee base to continue to grow with approximately 100 new positions being created in the next 12-18 months. Co-founders Cane and Sherling were recently honored with the Leadership in Health Care Award by the U.S. Chamber of Commerce. The company was also named in Red Herring’s Top 100 North America list, which recognizes the top private companies across the continent that are expected to achieve significant growth in the near future.

About Modernizing Medicine

Modernizing Medicine® is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Our product, Electronic Medical Assistant® (EMA™), is a cloud-based, specialty-specific electronic medical record (EMR) system with a massive library of built-in medical content. Available as a native iPad application or from almost any web-enabled Mac or PC, EMA adapts to each provider’s unique style of practice and is designed to interface with hundreds of different practice management systems. Today, Modernizing Medicine provides specialty-specific offerings for the dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, rheumatology, urology and plastic and cosmetic surgery markets and to more than 1,400 physician practices across the country.

November 11, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Kareo Secures $15 Million in Mezzanine Debt from Escalate Capital Partners

Latest investment brings total capital raised in 2014 to $47MM, new capital will be used to further expand Kareo’s cloud-based solutions for independent physicians

Irvine, CAOctober 24, 2014 Kareo, the leading provider of cloud-based medical office software for small medical practices, today announced that it has received $15 million in mezzanine debt from Escalate Capital Partners, an institutionally backed mezzanine fund that invests in high growth companies in the technology, healthcare and Software-as-a-Service (SaaS) industries. In 2014, Kareo has secured a total of $47 million in funding, reinforcing the company’s unprecedented growth and further enhancing Kareo’s role as the independent physician’s trusted partner.

Kareo enables independent physicians and their staff to streamline patient engagement, clinical documentation, billing, and other critical administrative processes in order to focus on what matters most—providing quality patient care. The $15 million in new growth capital will be used to further expand Kareo’s reach and deepen its solution set to meet inevitable demand due to patient-driven shifts in the industry, while accelerating the development and innovation of the company’s cloud-based technology.

“The shift toward consumer-driven care is continuing to gain momentum,” says Dan Rodrigues, founder and CEO of Kareo, “and we believe that independent practices are uniquely positioned to benefit from this trend and provide the most appropriate and highest quality care to patients. We are delighted to have the backing and confidence of Escalate as we further enhance our products to better support small practices.”

Kareo’s mission has been affirmed by its significant growth. The company has been consistently recognized as one of the fastest growing private companies in the U.S., realizing a 552 percent increase in revenue over the past three years. The company now serves more than 25,000 healthcare providers with its award-winning EHR, practice management and billing services platform, and is adding more than 500 provider customers per month.

“Kareo’s unique business model and market-leading solutions are changing the game in healthcare IT,” says Ross Cockrell, managing director at Escalate Capital Partners. “There is considerable market opportunity for Kareo as independent physicians provide the majority of patient care in the United States. And with increasing focus on fee-for-quality reimbursement models, this trend will likely continue. Kareo is well poised to sustain its growth record and we are excited to be a part of its continued success.”

The latest financing brings Kareo’s total capital raised to $90 million. New investor Escalate Capital Partners joins Kareo’s group of top-tier institutional investors which also include OpenView Venture Partners, Greenspring Associates, Stripes Group, Silicon Valley Bank and Western Technology Investments.

About Kareo

Kareo is the only cloud-based medical office software and services platform purpose-built for small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated solution of products and services designed to help physicians get paid faster, run their business smarter, and provide better care. Our practice management softwarebilling services, and free, award-winning fully certified EHR help more than 25,000 medical providers more efficiently manage the business and clinical sides of their practice. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Forbes Top 100 Most Promising Companies, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor. Headquartered in Irvine, California, the Kareo mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.

About Escalate Capital Partners

Escalate Capital Partners is an institutionally backed mezzanine fund that invests in high growth companies and is an ideal partner at the critical growth phase in a company’s lifecycle, offering patient capital tailored to each company’s unique needs. Escalate Capital has built a track record as a valued and committed partner through periods of robust growth and economic uncertainty. The Escalate Capital investment team has a combined 75+ years of experience and has invested more than $2 billion in over 500 companies.

October 24, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Pristine Raises $5.4 Million in Series A Funding

Led by S3 Ventures, funding will fuel growth of HIPAA-Compliant enterprise communication solutions for Google Glass

AUSTIN, TX

Pristine, developers of the only HIPAA-compliant video streaming and checklist solutions for Google Glass, announced today that it has raised $5.4 million in Series A financing. Austin-based S3 Ventures led the oversubscribed round, which also included Capital Factory, HealthFundr, and a syndicate of strategic clients. This new financing enables the company to expand its R&D, sales, marketing, and operations teams, supporting the company’s rapid growth.

“The team at S3 has pioneered cutting-edge developments in medical devices, enterprise health IT solutions, and more,” said Kyle Samani, cofounder and CEO of Pristine. “With our rapid growth, we are thrilled to have partners with a strong track record of guiding early stage companies to success.

Pristine was born from a common refrain in healthcare: “Hey, can you come over here and look at this?” In response, the company developed EyeSight, the first commercially available, HIPAA-compliant telepresence platform for Google Glass. EyeSight is also finding success outside of healthcare, working with pharmaceutical, medical device, and manufacturing companies on remote support and training applications.

“Wearable technologies like Google Glass are revolutionizing how healthcare is delivered, and the Pristine platform is the market leader,” said Brian R. Smith, Managing Director at S3 Ventures. “Current customers are raving about the product, and we are excited to partner with Pristine to continue innovating in healthcare, as well as remote support applications in other industries.”

“We have deployed EyeSight in ERs, ORs, ICUs, ambulances, and even patients’ homes,” added Samani. “We understand that security is paramount. There is a lot of misinformation about Glass and privacy out in the wild; we have gone the extra mile to guarantee security and control for our clients. Our utmost focus on security will fuel our growth as we scale our wearable communication technology throughout healthcare and across other industries.”

About Pristine

Pristine is pioneering the next generation of telepresence in healthcare and other industries. EyeSight, Pristine’s flagship app, enables HIPAA-compliant audio/video streaming across every platform–Mac, PC, iPhone, iPad, Android, Google Glass, and other smart glass devices. EyeSight is currently in use for patient care across ERs, ORs, ICUs, ambulances, as well as in

medical education and medical device service. More information can be found at www.pristine.io, pristine.io/blog, and by following @PristineIO on Twitter

About S3 Ventures

S3 Ventures is an earlier stage venture firm with $185 million under management. The firm is focused on information technology solutions that solve large business problems and in medical devices that improve the human condition. S3 invests primarily in the formative stages of a company and partners with the team to help focus methodically on what it takes to build a successful company. For more information about S3, visit http://www.s3vc.com.

September 29, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Healthsense Closes $10 Million Financing with Boston-Based Mansa Capital

Boston, Mass. & Minneapolis, Minn. – Aug. 19, 2014 – Healthsense,® Inc., the fastest growing provider of technology-enabled care solutions for the senior care continuum, announced today that it has closed on $10 million in financing led by Mansa Capital, a Boston-based  private equity firm focused on the $2.8 trillion U.S. healthcare market. Previous investors Merck Global Health Innovation Fund and Radius Ventures LLC also participated in the round.
 
“Mansa Capital possesses exceptionally strong relationships that Healthsense can leverage to expand our reach into the managed care and home health markets, where we see major growth opportunities. This is an ideal complement to our thriving senior living business,” said Healthsense President and CEO A.R. Weiler“Mansa Capital’s involvement will extend the exceptional benefits we have realized from previous investments with Merck GHI, Radius and B.C. Ziegler and Company, influential investors whose market knowledge and resources have helped us achieve our continued growth and success.”
 
With Healthsense’s growing focus on helping managed care organizations optimize care, the firm has deployed several pilot programs within the last year including partnerships with Humana Cares/Senior Bridge, Fallon Health, and various others. Early program results suggest a positive impact of the Healthsense eNeighbor® remote monitoring platform on improving care outcomes for those with chronic health conditions by providing earlier interventions and readmission rate reductions in various care environments.  

“We seek to engage with companies that demonstrate both strong growth potential and the ability to advance the healthcare industry’s Triple Aim of improving care, reducing costs and enhancing the patient experience,” said Mansa Capital Managing Partner and Chief Investment Officer Ruben King-Shaw Jr., who will join the Healthsense Board of Directors. “Healthsense embodies all that we look for when considering an addition to our healthcare portfolio, particularly given the ever-increasing industry focus on managed care.”

Headquartered in Boston, Mansa Capital invests primarily in high-growth healthcare services and technology companies with experienced management teams, sound business franchises and substantial potential. The healthcare private equity investment firm seeks to develop companies that deliver advances in cost-effective care, demonstrate potential for strong organic revenue growth, and exhibit attractive margins as well as high returns on capital.
 



About Healthsense, Inc.
Healthsense is the fastest growing provider of technology-enabled care solutions for the senior care continuum. With a full range of remote monitoring, emergency response and wellness management solutions, Healthsense helps senior care providers and managed care organizations significantly reduce costs, increase independence and enhance caregiver and senior experiences. Built on a wireless platform, Healthsense products are scalable and enable flexible technology-enabled care designs that help in the delivery of the highest quality care across the entire care continuum. Visit www.healthsense.com for more information.

About Mansa Capital
Headquartered in Boston, Mass., with offices in New York City, Miami and Dallas, Mansa Capital is a private equity firm focused on the $2.5 trillion healthcare sector in the U.S. including Puerto Rico and the U.S. Virgin Islands. The firm uses its expertise in healthcare policy and economics to help management teams grow top line revenues and develop new products that build exceptional value. Mansa Capital’s principals bring to the firm extensive expertise in healthcare operations, marketing and finance including senior-level experience in healthcare compliance, regulation and reimbursement. The team has distinctive knowledge in the early identification of innovative business models that enable patients and providers to thrive in the post-healthcare reform environment. The firm also has special insights in the largely untapped Hispanic healthcare market. Visit www.mansancapital.com for more information. 

August 19, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Epion Health Receives $4.5M Series A Funding from Deerfield Management

ROSELAND, N.J.July 18, 2014 /PRNewswire/ — Epion Health announced the closing of a $4.5M Series A financing round with Deerfield Management Company, a New York City based investment firm. The funding will be used to scale Epion’s rapidly growing, iPad based, digital check-in and patient engagement platform used in healthcare facilities around the country.

This news comes on the heels of Epion’s recent announcement of a partnership and successful integration with athenahealth. Epion’s solution is now live and available to Athena’s network of 52,000 plus providers.

At the announcement, Epion’s CEO, Joe Blewitt said, “This additional capital comes into the company at an exciting time. We now have the necessary resources for the foreseeable future to capitalize on a very large market opportunity. In addition to growing our sales and operations teams, a portion of the funding will be used to continue to enhance our product for our rapidly growing network of providers. Our focus is on helping our providers increase revenues, decrease costs and improve patient satisfaction and patient outcomes. We’re excited to be partnering with Deerfield Management. In addition to deep pockets, Deerfield brings strong healthcare industry expertise and an extremely robust research arm to the table.”

Deerfield is committed to supporting innovative healthcare technology solutions and is excited about Epion’s ability to both improve practice level economics as well as enhance clinical care and patient experience,” remarked Leslie Henshaw, a Partner at Deerfield Management.

About Epion Health

Epion Health is a Healthbox Accelerator alumni company and offers a software as a service, patient engagement platform at the point of care, beginning with the patient check-in process. By replacing clipboards and paper forms with iPads, Epion improves efficiencies and engages patients to improve outcomes. The service fully integrates with Electronic Health Record and Practice Management systems.

About Deerfield Management Company 

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information about Deerfield, please visit www.deerfield.com

July 22, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

CareCloud Raises $25.5 Million in Venture Debt from Hercules Technology Growth Capital

MIAMI–(BUSINESS WIRE)– CareCloud, the leading provider of cloud-based practice management, electronic health records (EHR), and medical billing software and services, today announced that it has received a $25.5 million debt financing commitment from Hercules Technology Growth Capital, Inc. (NYSE: HTGC), the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, at all stages of development.

“We are thrilled to have the support and confidence of a leading technology investor like Hercules as we continue to execute on our aggressive business plan,” said R. Scott Lentz, Chief Financial Officer of CareCloud. “This commitment will enable us to accelerate the expansion of our technology solutions and further our strategic objective of providing the industry’s first modern cloud-based platform for healthcare.”

“We appreciate the opportunity to provide the financing required to advance CareCloud’s efforts to expand its market footprint and achieve its impressive growth objectives,” commented Tony Pandjiris, Managing Director at Hercules. “We are confident that CareCloud’s strong management team will be able to seize on the considerable market opportunity as medical groups look to modernize their IT infrastructure and deliver the best patient care possible.”

CareCloud reported record revenue increases during the first quarter of 2014, representing its 17th consecutive quarter of year-over-year triple-digit revenue growth. During the quarter, CareCloud also signed a record of over 170 new medical groups to its cloud-based platform. The Company’s cloud-based platform currently supports thousands of providers in 48 states and manages more than $3 billion in annualized accounts receivables on behalf of its clients. The Company’s award-winning platform also engages more than 8 million unique patients through CareCloud Community, which allows for greater patient engagement and care coordination and is the cornerstone of the company’s vision to be the industry’s Single Log In for Healthcare.

While many physician practices are increasingly concerned about the health of their practices, CareCloud offers products and services to help. The May 2014 Practice Profitability Index (PPI) surveyed over 5,000 U.S. physicians and found they are now more than twice as likely to foresee eroding, not increasing, profits in 2014. Those with a negative outlook increased from 36% to 39% during the past year, while optimists declined from 22% to 19%.The percentage of doctors spending more than one day a week on paperwork rose sharply between 2013 and 2014, from 58% to 70%. Nearly one-quarter (23%) spend more than 40% of their time on administration, up from 15% last year.

About Hercules Technology Growth Capital, Inc.

Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, at all stages of development. Since inception (December 2003), Hercules has committed more than $4.2 billion to over 270 companies and is a lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.

The Company’s common stock trades on the New York Stock Exchange under the ticker symbol “HTGC.”

In addition, Hercules has two outstanding bond issuances of 7.00 percent Senior Notes due 2019—the April 2019 Notes and September 2019 Notes—which trade on the NYSE under the symbols “HTGZ” and “HTGY,” respectively.

Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.

About CareCloud

CareCloud is the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping thousands of physicians to increase collections, streamline operations and improve patient care in over 48 states, and currently manages over $3 billion in annualized accounts receivables on behalf of its revenue cycle management clients. To learn more about CareCloud, please visit www.carecloud.com.

June 26, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Kareo Secures $29.5 Million in Growth Capital

IRVINE, CA – January 21, 2014 – Kareo Inc., the leading provider of cloud-based medical office software and services for small medical practices, today announced it has secured $29.5 million in growth capital. This latest financing was led by Greenspring Associates and joined by OpenView Ventures and Silicon Valley Bank. This new capital will be used to invest in sales and marketing to accelerate growth, further enhance the company’s cloud-based software platform, and scale its revenue cycle management operations.

“We are thrilled to continue our successful partnership with investors Greenspring Associates and OpenView Ventures and welcome the new investment by Silicon Valley Bank,” said Dan Rodrigues, CEO and founder of Kareo. “This additional funding further validates our vision that Kareo’s cloud-based solutions can unleash the power of healthcare providers to deliver exceptional patient care while building thriving practices.”

“It’s been exciting to watch the impact that Kareo has had on small practices, including the recent launch of Kareo EHR and Billing Services,” said Jim Lim, partner at Greenspring Associates. “Given the company’s track record of rapid growth and market leadership, we jumped at the opportunity to deepen our partnership with Dan and his management team.”

Kareo’s latest funding follows a year of significant milestones and recognition within the healthcare technology industry, including:

  • The continued rapid growth of Kareo Practice Management, the company’s solution that serves more than 20,000 providers who processed over $6 billion in medical billing through Kareo’s platform last year.
  • The launch of Kareo EHR, the company’s free electronic health record solution that generated more than 5,000 sign-ups in less than ten months.
  • The introduction of Kareo’s technology-enabled revenue cycle management solution, Kareo Billing Services, which already manages billing for more than 1,000 providers across 46 specialties nationwide.
  • The successful acquisition and integration of Ecco Health, Kareo’s first acquisition, enabling the company to expand its services while deepening its revenue cycle management expertise across a wide range of specialties.
  • Extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Forbes Top 100 Most Promising Companies, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor.
  • Expansion of Kareo’s management team with the hiring of Tom Giannulli, MD as its Chief Medical Information Officer, Rob Pickell as its Chief Marketing Officer, Amyra Rand as its Vice President of Sales, David Mitzenmacher as its Vice President of Customer Success, and Nitin Somalwar as its Vice President of Engineering.

About Kareo

Kareo is the only cloud-based medical office software and services platform dedicated to small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated suite of products and services designed to help physicians get paid faster, run their business smarter, and provide better care. Our Practice Management software, Billing Services, and free, full-featured award-winning EHR help more than 20,000 medical providers more efficiently manage the business and clinical sides of their practice. Headquartered in Irvine, California, Kareo’s mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.

About Greenspring Associates

Established in 2000 as a global venture capital firm, Greenspring Associates currently manages both a dedicated later stage direct investment platform as well as a globally diversified fund-of-funds platform with $2.5 billion under management. Since inception, the Firm has invested in over 60 portfolio companies alongside of its leading venture capital and growth equity managers both in the United States and Europe. Through the Firm’s value-added investment approach, it primarily invests across the information technology and communications stack as well as in the healthcare vertical. For further information, visit the Greenspring Associates website at www.greenspringassociates.com.

About OpenView Venture Partners

OpenView Venture Partners is an expansion-stage venture capital fund based in Boston that is focused on high-growth software, Internet and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly go to market and optimize their product, organization and operational functions. Founded in 2006, the firm invests globally and has approximately $440 million in total capital under management. For more information, visit

www.openviewpartners.com.

About Silicon Valley Bank

Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 27 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

January 21, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Lumiata Raises $4 Million in Series A Financing from Khosla Ventures

The World’s First Medical Graph Aims to Revolutionize Health Care with Big Data Driven Medical Science and Predictive Analytics

San Mateo, California – January 8, 2013 – Lumiata, a provider of predictive analytics around medical science and patient data, announced today that it closed $4 million in Series A financing from Khosla Ventures. This funding will be used to refine and commercialize the health care industry’s first medical graph-­based predictive analytics engine, which is currently being piloted by major hospital networks and health insurance carriers to deliver better­informed patient care.

“There is little debate that health care delivery is lacking today – both in its quality and its affordability. Lumiata has created a new predictive engine to help turn the practice of medicine into a science,” said Vinod Khosla, founder of Khosla Ventures, a leading investor in transformational health care. “Lumiata’s medical graph helps providers ensure they’re giving the right care, at the right time, from the right person so they can deliver better value-­based health to more patients.”

Formerly known as MEDgle, Lumiata’s mission is to democratize medical science so that all kinds of medical staff – from advice nurses, to physician’s assistants, to doctors – can apply higher quality health care at a lower cost. The company collects massive amounts of medical science data, organizes it in rich, inter­-connected graphs similar to Facebook’s social graph, and produces key insights for patient care. Health providers can run anonymized medical records, genetic information or sensor data through Lumiata’s graph to receive hyper­-personalizedpredictions and recommendations for individual patients.

With instant access to Lumiata’s real­-time predictive and prescriptive analytics regarding symptoms, medications, risk factors and diagnoses, first­-line staff can elevate their day­-to­day care. The engine’s guidelines and protocols help nurses easily determine what questions to ask a patient and make knowledgeable decisions before and during a patient visit, such as which labs to order or which procedures to recommend. This approach also maximizes doctors’ productivity by marshaling the finest medical science at their fingertips, so they can determine diagnoses and treatment plans earlier and faster than ever before.

“We believe that data­-driven medical decisions can drive high quality, optimized care at a much lower cost,” said Ash Damle, founder and CEO of Lumiata. “At Lumiata, we’re providing the best of medical science on-­demand with a ‘GPS’­-like health navigation system. First we triangulate an individual’s health, and then we calculate their best routes to getting and staying healthy. These small, but life­-changing insights are the result of lots of sophisticated big data science.”

Behind the scenes, Lumiata’s technology ensures accurate health care predictions by combining the brilliance of the best physicians with the analytic power of big data. The company has crunched over 160 million data points from hundreds of relevant sources – including over seven million pages from textbooks and medical journals, and more than 100 gigabits of public data from the Centers for Disease Control, the National Institutes of Health, the World Health Organization and more – and spent over 20,000 physician hours to confirm the quality of its resulting insights. Its algorithms turn raw data about tens of thousands of symptoms, diagnoses, procedures and medications across ages, genders and lifestyles into curated, usable bigknowledge to dramatically improve the delivery of health care.

Lumiata’s real-­time predictive analytics are available via Application Programming Interfaces (APIs). These APIs can be used to pull both aggregate and specific patient insights into the systems, devices and daily workflows that hospitals and insurers already use during patient interactions. In the future, Lumiata will also leverage its medical graph to give individuals the data they need to optimize their own health and wellness every day.

Lumiata’s management team and advisory board include board­-certified physicians, data scientists, and evidence-­based medical researchers. Its CEO, Ash Damle, founded the company to synthesize fifteen years of research on applying practical artificial intelligence. His background includes developing web-­scale artificial intelligence solutions at Massachusetts Institute of Technology, the U.S. Navy, California’s Department of Corrections and Rehabilitation and J.Crew. In addition, Euan Thomson, investment partner at Khosla Ventures, is joining the company’s board of directors and brings over fifteen years of experience as a scientist, physicist and researcher in the United Kingdom’s health care system.
About Lumiata

Founded in 2013, Lumiata (formerly MEDgle) applies big data­-driven medical science to patient data in order to optimize every health care interaction. The company delivers real­-time predictive analytics that help hospital networks and insurance carriers provide higher quality care to more patients in less time. To produce accurate insights and predictions related to symptoms, diagnoses, procedures and medications, Lumiata developed the world’s first medical graph, which organizes and analyzes hundreds of millions of valuable data points. Lumiata is a venture-­backed company based in Silicon Valley and composed of clinicians, data scientists, and experts in care delivery. More information is available at www.lumiata.com.
About Khosla Ventures

Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough technologies in clean energy, mobile, IT, cloud, big data, storage, health, food, agriculture and semiconductors. VinodKhosla founded the firm in 2004 and was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Khosla Ventures is based in Menlo Park, California. More information is available at http://www.khoslaventures.com.

January 8, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.