DiagnosisONE, a Nashua, N.H.-based provider of clinical decision support solutions, has raised $5 million from Edison Venture Fund.
Edison Venture Fund announced $5 million investment in Nashua, NH-based DiagnosisONE. Edison is sole institutional investor for this expansion stage, healthcare information technology business. Proceeds will expand sales, marketing and development.
DiagnosisONE’s Clinical Decision Support (CDS) solutions improve the quality, safety and efficiency of patient care. Powerful analytics enable healthcare providers to reduce costs, increase revenue and improve medical outcomes. CDS integrates real-time patient data from disparate sources with analytic rules engines to deliver actionable information, alerts and guidelines to care providers and decision-makers at point-of-care. Customers include healthcare providers, hospitals, health plans, electronic medical record (EMR) vendors, systems integrators and governmental healthcare entities.
Michael Balmuth, General Partner, led Edison’s investment process. Tom Vander Schaaff, VP Analysis, and Orlando Mendoza, Principal, conducted Edison’s due diligence. Michael Balmuth and Edison Director Network member, Zach Henderson, joined DiagnosisONE’s Board of Directors. Henderson is VP Corporate Strategy and Analytics for Edison portfolio company, Health Market Science.
“We have already derived significant strategic benefits from Edison’s experience, value-added services and relationships,” commented Mansoor Khan, CEO, DiagnosisONE.
“DiagnosisONE is at the cutting edge of next generation Clinical Decision Support solutions and is well positioned in this fast growing healthcare IT market segment”, stated Michael Balmuth. “Customers state that DiagnosisONE’s solutions are ‘best of breed’ with flexible architecture and smooth integration,” added Tom Vander Schaaff.
Edison has invested in 16 healthcare information technology businesses. Active portfolio companies include Cadient, ClearPoint, Heath Market Science, iContracts, Octagon, Portico, Sentrx, Systech and Verilogue. High return exits include CambridgeSoft, Dendrite and InnaPhase.
Edison has made 22 investments in New England including BlueCod, InMagic, PlumChoice, RewardsNow, SellMyTimeshareNOW, Sonicbids, Tangoe and VFA. Successful exits include Marcam, MathSoft, Netegrity and ReTec.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to $20 million revenue), information technology businesses. Initial investments range from $5 to $10 million. Edison typically serves as the sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, Needham, MA and McLean, VA. Industry specialties include healthcare IT, financial technology, application software, communications and interactive marketing. Edison’s successes include ACT!, Axent, Best Software, Mapics, POMS, Visual Networks, VirtualEdge, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. www.edisonventure.com
DiagnosisONE, an innovative leader in the healthcare IT industry, develops and markets next–generation Clinical Decision Support Solutions designed to improve quality, safety and efficiency of patient care while reducing costs of healthcare delivery. D1’s applications allow customers in clinical and public health environments to collect data from disparate sources, apply clinical evidence-based rules to those data, and deliver actionable information and recommendations to care providers, payers and decision-makers at the point-of-care. The SaaS based solutions deliver secure, real-time information that integrates seamlessly with existing healthcare IT (HCIT) and EMR applications. Customers include healthcare providers, hospitals, health plans, EMR companies, systems integrators and governmental healthcare entities. DiagnosisONE was formed in 1999 by a team of physicians and HCIT professionals and is based in Nashua, NH. For more information, visit www.diagnosisone.com.