eHealth Technologies Announces Growth Capital Investment from Merck Global Health Innovation Fund
NEW YORK--(BUSINESS WIRE)--Jan 23, 2013--eHealth Technologies, a leading provider of continuity of care solutions, announced today that Merck Global Health Innovation Fund (Merck GHIF) has made an investment of growth capital in the company to expand its offerings and company infrastructure. The Series D investment of over $6 million and led by Merck GHIF includes a seat on eHealth Technologies’ Board of Directors for David Stevenson, investment principal at Merck GHIF.
“In the past two years the demand for our continuity of care solutions has increased revenue by over 230 percent. We are excited about our partnership with Merck GHI and the opportunities that this brings to eHealth Technologies to provide additional ways to automate the process to connect healthcare providers and other clinical institutions with the external patient information needed, within their workflow, and within their own systems,” said Michael Margiotta, CEO and founder of eHealth Technologies. “We are continuing to grow our infrastructure and expand the marketing of our solutions to IDNs, hospitals, health information exchanges (HIE) and cancer treatment centers so that they in turn can see patients faster and have more productive first appointments.” eHealth Technologies improves continuity of care to enhance patient and physician satisfaction by streamlining and largely automating transitions of care and by providing any external medical record and diagnostic quality image – when and where it is needed. The company also provides real-time reporting on referral patterns so hospitals can proactively and intelligently monitor their referral business. More than 50 percent of the largest hospitals and leading HIEs are using eHealth Technologies solutions.
“With mounting pressures to meet meaningful use and deliver accountable care, today's healthcare organizations — and their physicians — are beginning to see firsthand how their goals can be met by improving continuity of patient care,” said David Stevenson, investment principal for Merck GHIF. “We believe that eHealth Technologies is well positioned to help the industry improve connectivity and automation and therefore eliminate redundant costs and inefficiencies that surround clinical information accessibility.” About eHealth Technologies™ eHealth Technologies is a leading provider of continuity of care solutions, serving over half of the nation's top 100 hospitals and leading health information exchanges (HIEs), including 11 of the top 17 hospitals selected to the prominent Honor Roll of the Best Hospitals from the 2012-2013 U.S. News & World Report. The company's eHealth Connect® offering enhances patient and physician satisfaction by streamlining transitions of care, and by providing the right patient information – when and where it is needed. Visit www.eHealthTechnologies.com About Merck Global Health Innovation Fund Merck Global Health Innovation (GHI) Fund invests in emerging companies that deliver breakthrough healthcare solutions which advance Merck's mission to discover, develop, and provide innovative products and services that save and improve lives. Established in 2010, the GHI Fund deploys its evergreen $250 million fund to rapidly identify and develop transformative global health care opportunities. GHI is focused on identifying opportunities that are adjacent to Merck’s core business of pharmaceuticals and vaccines. www.merck.com/ghiCONTACT: eHealth Technologies Nicole Spencer, 530-269-1806 nicole.spencer@eHealthTechnologies.com www.eHealthTechnologies.com KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PRACTICE MANAGEMENT HEALTH HOSPITALS MEDICAL DEVICES SOURCE: eHealth Technologies Copyright Business Wire 2013 PUB: 01/23/2013 10:30 AM/DISC: 01/23/2013 10:30 AM http://www.businesswire.com/news/home/20130123005425/