in ,

Mercom: Health IT Sector Drew $1.2B in Q2 Venture Capital Funding

Mercom: Health IT Sector Drew $1.2B in Q2 Venture Capital Funding - top government contractors - best government contracting event
https://executivebiz-media.s3.amazonaws.com/2022/08/19/30/9f/c3/a0/b7/6f/d4/64/Executive-Biz.png

medical-health-doctorA Mercom Capital Group report says venture capitalists pumped about $1.2 billion into the healthcare information technology industry during 2015’s second quarter, up from the $784 million recorded during the previous quarter.

The health IT sector closed 138 deals in Q2, compared with 142 during Q1, and secured nearly $2 billion in VC investments over the past six months, about $6 million less than in 2014’s first half, Mercom said.

“In the healthcare IT sector, companies raised more money through initial public offerings than venture capital this quarter,” said Mercom co-founder and CEO Raj Prabhu.

Cloud-based medical technology firm NantHealth raised the largest amount of VC funding last quarter, amounting to $200 million, followed by online employee wellness platform developer Virgin Pulse with $92 million and telemedicine companies Doctor on Demand and MDLIVE at $50 million each.

A total of 271 investors participated in HIT deals during the second quarter, the report says.

Mercom found that the number of merger and acquisition transactions in the sector reached 53 during Q2 and the biggest disclosed M&A deal was MEDNAX‘s $500 million purchase of Virtual Radiologic Corp.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Healthcare IT

mm

Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

Dima Tokar, Jason Hart: Network Isolation Key in Cyber Defense for Smart Cities - top government contractors - best government contracting event
Dima Tokar, Jason Hart: Network Isolation Key in Cyber Defense for Smart Cities
Army Taps 4 Companies for $25M Medical Research Support Contract - top government contractors - best government contracting event
Army Taps 4 Companies for $25M Medical Research Support Contract