BETHESDA, Md., Apr. 28 Prematics today announced the closeof Series B private equity financing led by Health Evolution Partners, aninvestment firm that seeks to identify and bring the "best of the best" inhealth care innovations to mainstream health practices. As part of theinvestment, David J. Brailer, MD, PhD, Chairman of Health Evolution Partners,will join the Prematics board of directors.
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The financing also includes support from Prematics' founding investors,Foundation Capital and General Catalyst Partners. Both are top-tier venturecapital firms with successful track records building world-class businesses.The investment will advance expanded deployment of Prematics' distinctmedication management system, ScriptTone(SM), in partnership with healthplans. ScriptTone supports physician acceptance of electronic prescribingthrough a no-cost, all-inclusive managed service model.
"This substantial commitment led by one of the nation's most respectedleaders in health care technology demonstrates recognition for theeffectiveness of Prematics' service-based deployment of clinical IT services,"said Prematics president and Chief Executive Officer Kevin Hutchinson. "Withsupport from Health Evolution Partners, Prematics is poised to leverage thestrong momentum for electronic prescribing to improve health care delivery byimproving safety, cost-effectiveness and overall quality."
David J. Brailer, MD, PhD, Chairman of Health Evolution Partners, willjoin the Prematics board of directors. Dr. Brailer was appointed by PresidentBush to be the first National Coordinator for Health Information Technology,overseeing the widespread deployment of health information technology from2004 to 2006.
"The United States is well along in its transition to electronicprescribing," said Dr. Brailer. "Prematics brings a necessary and valuablesolution to our payers, physicians and patients, and we have given them theresources they need to be the market leader in electronic prescribing."
In conjunction with the Series B financing, company co-founder andentrepreneur Scott Puritz will be stepping off the board of directors. "Scotthas played a central role in Prematics' creation as its early driving forceand former CEO," Hutchinson remarked. "We appreciate Scott's effort inpositioning the company's early success and wish him well in his next newventure."
Prematics is an innovative provider of clinical information technologyservices committed to delivering solutions for physicians that improve thesafety, quality and efficiency of health care. The company offers ScriptTone,the nation's first easy-to-use, fully managed electronic prescribing servicedesigned for busy practicing physicians. This reliable and highly secureservice is delivered over the company's proprietary end-to-end network andequips physicians with the critical patient information they need at thepoint-of-care to prescribe the most clinically appropriate and cost-effectivemedications. ScriptTone benefits all of the key industry stakeholders bydriving patient safety, lowering costs, and streamlining fulfillment. Moreinformation about Prematics can be found at www.prematics.com.
About Health Evolution Partners
Health Evolution Partners is a health care investment manager founded in2007. Health Evolution Partners invests across the health care industry, fromearly stage to buyouts and from services to technologies. It is seekingcompanies that can lead and become valuable in the new era of value-based,cost-effective and consumer-driven health care. To learn more about HealthEvolution Partners, visit www.healthevolutionpartners.com.Media Contact Laura Rowe 240-744-1217 [email protected]