US-based medical record management software provider eHealth Technologies, which counts pharmaceutical firm Merck & Co as an investor, received $41m in funding from investment firm Aldrich Capital Partners (ACP) yesterday.
Founded in 2006, eHealth provides software that helps hospitals locate and organise data from patients’ medical health records. It also operates an exchange program for medical images from more than 100 imaging centres and hospitals.
The company has raised about $20m in equity funding and $1.9m in debt financing according to press releases and securities filings. Merck subsidiary Merck Global Health Innovation Fund provided more than $6m in series D funding for the company in 2013.
Other investors in eHealth include growth equity firm Stonehenge Growth Equity Partners. The company will put the funding toward product development while it looks to complete construction of an extension to its head office.
Jeff Markin, eHealth’s CEO, said: “Our focus for the past 13 years has been on developing new, innovative ways to support the needs of our customers. Partnering with ACP will allow us to continue focusing on both current and new customers and developing more effective and efficient solutions to meet their needs.”
