HIT venture capital funding jumps in 2014
Venture capital funding for health IT companies is on the rise in 2014 with $858 million across 163 deals in the first quarter.
This represents an increase of 154 percent from the last quarter of 2013, according to a report from Mercom Capital Group.
Investments in clinically-focused IT firms reached $460 million across 60 deals, including eight practice management deals worth $124 million; seven business intelligence and analytics deals worth $43 million; and two health information exchange deals worth $78 million.
Consumer-focused companies raised $398 million over 103 deals, including 61 mobile health deals worth $198 million; 14 telehealth deals worth $79 million; and six deals in scheduling, rating and shopping companies worth $66 million.
There were 53 health IT mergers and acquisitions during the time period, compared with 44 transactions in the fourth quarter of 2013.
Total corporate funding in the health IT industry reached $1.2 billion, according to the report.
Editor
Editor Beth earned a bachelor’s degree in journalism and master’s in health communication. She has worked in hospital, academic and publishing settings over the past 20 years. Beth joined TriMed in 2005, as editor of CMIO and Clinical Innovation + Technology. When not covering all things related to health IT, she spends time with her husband and three children.