ArchiMed invests in healthcare software firm Title21

• ArchiMed is making the investment through its MED III fund, which closed on €650 million in August, after only two months of fundraising
• Title21 was founded in 2001
• Title21’s clients include Mayo Clinic, Memorial Sloan Kettering Cancer Center, Stanford University, Kaiser Permanente and the University of Pennsylvania Health System

ArchiMed has made an investment in Phoenix, Arizona-based Title21 Health Solutions, a healthcare software provider for cell and gene therapy labs. No financial terms were dislcosed.

Moving forward, the founders and management of Title 21 will retain a significant minority stake.

ArchiMed is making the investment through its MED III fund, which closed on €650 million in August, after only two months of fundraising.

Title21 was founded in 2001. Its clients include hospital and research institutions, such as the Mayo Clinic, Memorial Sloan Kettering Cancer Center, Stanford University, Kaiser Permanente, and the University of Pennsylvania Health System.

“ArchiMed stood out from other potential partners,” says Lynn Fischer, CEO of Title21, in a statement. “They share our sense of urgency when it comes to supporting the commercialization of advanced therapies through efficient, easily traceable and scalable technology.”

ArchiMed’s investments in healthcare software include Cardioline, a specialist in remote cardiology testing, and ActiGraph, a developer of wearable, remote technology for drug trials.

MED III invests in small-cap healthcare sectors in Europe and the Americas, partnering with owners and managers. The fund’s other investments are Cardioline and Corealis Pharma.

With offices in the U.S. and Europe, ArchiMed invests in the healthcare industry. Currently, ArchiMed manages €5 billion across its various funds.