The medical software company previously backed by General Electric was sold to Nasdaq-listed Accelrys on Tuesday for $35m – more than 11 years after it reportedly secured the US-based industrial conglomerate’s backing.
Velquest, which was founded in 1999, reportedly raised $9.2m in 2000, from investors including GE Capital Commercial Finance’s health care group, according to news provider Boston Business Journal.
Other backers of the round according to the Boston Business Journal were private equity firms MedEquity Investors, CCMP Capital, the private equity unit of JPMorgan then known as Chase Capital Partners and BancBoston Ventures, the corporate venturing unit of Bank of Boston, a bank bought by Bank of America.
The company also raised $4m in 2004, according to this Securities and Exchange Commission filing.