Mitsui & Co. Global Investment, the corporate venturing unit of the Japan-based company, and a consortium of investors have provided $7m funding for Alabama-based hospital-to-home health care infusion company, ContinuumRx. Other investors in this latest round of funding include; Health Enterprise Partners, and local investors including Fidelis Capital Partners, Redmont Venture Partners, and Stonehenge Capital Company.
The latest round of financing is due to be used for expansion beyond the companies’ existing bases in Nashville and Knoxville, Tennessee, Jackson, Mississippi and the headquarters in Birmingham, Alabama.
In the Spring, ContinuumRx announced it was entering into a joint venture with Baptist Health System and St. Vincent’s Health System. Combined, the two health systems own and operate eight hospitals in the Greater Birmingham Area. The three-way partnership will serve patients who require home infusion services and continuing provision of specialist treatments such as intravenous medication.
In February, Mitsui & Co. collaborated with other investors to raise a total of $50m in capital for advertising company OpenX – an advertising space sales portal for publishers – whose clients include Groupon and Orange-France Telecom. These funds enabled the acquisition of LiftDNA which helps find new advertising sources and tracks how much money publishers make off of ad campaigns.
Health Enterprise Partners, a counterpart in the fresh investment in ContinuumRx, helped raise $12.3m of series B funding in April for Privia Health a physician-based care management company to build its source network of top doctors and last year the Stonehenge Capital Company helped raise $55m for the development of an Urban Health Plan facility in New York.