Modernizing Medicine said Tuesday it received $14 million from Summit Partners. Mark deLaar of Summit is also joining the Modernizing Medicine board. Boca Raton, Fla.-based Modernizing Medicine provides a a cloud-based, specialty-specific electronic medical record system for physicians.
Boca Raton, FL—August 20, 2013—Modernizing Medicine®, the creator of the Electronic Medical Assistant® (EMA™), a cloud-based specialty-specific electronic medical record (EMR) system, announced today that it has received $14 million from Summit Partners, a global growth equity investor.
“Our goal is to transform how healthcare information is created, consumed and utilized to increase efficiency and improve patient outcomes,” said Daniel Cane, President and CEO of Modernizing Medicine. “With Summit’s support, we intend to increase the number of our technological staff to help further our growth in current markets and to expand into new areas with the best specialty-specific EMR system for doctors.”
Modernizing Medicine’s user-friendly EMA adapts to each healthcare provider’s unique style of practice and integrates seamlessly into the practice’s workflow, saving physicians and their staff time and increasing efficiencies. EMA’s cloud-based approach to collecting and storing patient information enables physicians to create, visualize and consume treatment data to better care for their patients with the EMA Network™. Available as a native iPad application or from any web-enabled Mac or PC, Modernizing Medicine provides specialty-specific offerings for the dermatology, ophthalmology, optometry, orthopedics and plastic and cosmetic surgery markets. This year, Software Advice named EMA the #1 tablet EHR.
“The time is ripe for technology that transforms the way physicians practice,” said Mark deLaar of Summit Partners, who is joining the Modernizing Medicine Board of Directors. “We believe that Modernizing Medicine’s powerful technology, coupled with its exceptional team, is the right combination to disrupt the EMR market. We are pleased to partner with Dan, Michael and the exceptionally strong management team to support the company’s continued growth.”
Added Jesse Lane, a Vice President with Summit Partners, “EMA’s phenomenal customer reviews, impressive market traction and meaningful use attestations speak to the strength of the technology.”
Modernizing Medicine continues to be recognized for its growth and exceptional corporate culture. This year, the company was listed at No. 47 on Forbes’ annual ranking of America’s Most Promising Companies. It was also recently recognized by Modern Healthcare as one of the 2013 Best Places to Work in Healthcare, ranked on Florida Trend’s Best Companies To Work For and named South Florida Business Journal’s #1 Fastest Growing Company in South Florida for the second year in a row.
For more information about career opportunities at Modernizing Medicine, visit www.modmed.com/careers.
About Modernizing Medicine
Modernizing Medicine® is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Its 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, designed to save physicians time. Available as a native iPad application or from 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, optometry, orthopedics and plastic and cosmetic surgery markets, and to more than 1,000 physician practices across the country. In 2013 Modernizing Medicine was listed at No. 47 on Forbes’ annual ranking of America’s Most Promising Companies.
About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that has raised nearly $15 billion in capital, and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 380 companies globally in technology, healthcare and other growth industries. These companies have completed more than 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Notable investments in the healthcare and technology sectors include: COMS Interactive, Diagnostic Hybrids, GoldenGate Software, HealthCare Partners, Heart to Heart Hospice, Hyperion Software, McAfee, MDVIP, Postini, RightNow Technologies and Solutionreach. Summit maintains offices in North America, Europe and Asia and has invested in companies around the world. For additional information, visit www.summitpartners.com.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.