Toronto-based Vendorlink.ca Ltd. (formerly VCS Canada), a provider of Web-based vendor management solutions for Canadian hospitals, has completed a financing round led by venture capital firm Lumira Capital. The financial terms of the deal were not published. Lumira, which is focused on life sciences investments across North America, closed two new funds in March 2012, Lumira Capital II and the Merck Lumira Biosciences Fund, a partnership with Merck Canada.
Vendorlink.ca the premier provider of web-based vendor management solutions for Canadian hospitals announced today that it has completed a financing round which was led by Lumira Capital. Vendorlink.ca’s services and solutions allow hospitals to compile and manage all the data required to credential a vendor for internal and government policy compliance. Vendorlink.ca acts as a third party to verify, store, and monitor all the information hospitals require from vendors, while at the same time providing those vendors with the appropriate tools to ensure that they are properly trained. This process is critical to maintaining the highest standard of patient safety and privacy. By facilitating the vendor management process, Vendorlink.ca improves the transparency and trust between hospitals and their suppliers.
Commenting on the investment Peter van der Velden, managing general partner of Lumira capital, noted “We are really excited to have partnered with Vendorlink.ca. Within the Canadian health care system there is an acute need to provide an effective and cost-efficient solution to ensure that all vendors have appropriate training, and credentials when entering hospitals. Michele Floh and her team have done a terrific job building the company to date and this round of financing will enable Vendorlink.ca to accelerate its plan of rolling out its services to hospitals across Canada.”
Michele Floh, CEO of Vendorlink.ca, stated “We spent a lot of time evaluating and considering the right firm to partner with, and we are very pleased to have Lumira join our team. Early on, Lumira was able to demonstrate their engagement and deep knowledge of the Canadian healthcare system, which was really what we were looking for in a partner. Already our signed contracts impact over 23 hospitals in Quebec and Ontario and this investment will allow us to ensure that Vendorlink.ca has the resources to rapidly increase our footprint and provide the highest level of service to our hospitals and member vendors. This is an exciting phase in the company’s history and we believe we are well positioned for an outstanding future.”
About Lumira Capital
Lumira Capital is one of the leading life science and healthcare venture capital firms, with offices in Toronto, Montreal, and Boston. The firm is focused on partnering with entrepreneurial management teams and other leading venture capital and corporate investors to build best in class, innovation centric life sciences companies to meet significant needs in the global landscape. Lumira closed two new funds in March 2012, Lumira Capital II and the Merck Lumira Biosciences Fund. Last month, Lumira was recognized by the CVCA for the 2013 venture capital deal of the year for a Canadian-based firm on the realization on its investment in Kai Pharmaceuticals
Vendorlink.ca Ltd. is a Canadian vendor management solution that protects institutions using proprietary software for vendor registration, screening, training and monitoring. Though the need for credentialing is most clearly articulated within hospitals, Vendorlink can and will continue to address the emerging requirements for credentialing in all relevant markets.
SOURCE: Lumira Capital
Michael Dreben; 877-885-1420 ext. 224
www.vendorlink.ca. Lumira Capital
Jacki Jenuth; 416-213-4223
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