Safeguard Scientifics (NYSE:SFE) led a $7 million Series A financing round for health care IT company Medivo that provides data analytics and lab testing services.
The Wayne, Pa.-based lifescience holdings company consolidated its life sciences and technology portfolios last month, with the intention of growing its health care IT section to one-quarter of its total investments.
"Recently we announced the combination of our life sciences and technology deal teams to better leverage and take advantage of the synergies between these two industries," Peter Boni, president & CEO of Safeguard said in prepared remarks. "On the heels of that announcement, we are pleased to announce our partnership with Medivo, an exciting new opportunity that represents a convergence of diagnostic testing and health care IT, as well as the consumerization of health care using the power of the Internet."
Medivo’s provides a secure, online form that connects patients to a nationwide network of doctors, home testing services and lab service centers, according to Safeguard.
The $7 million financing round will support Medivo’s product development and the expansion of its sales and marketing programs.
Here’s a roundup of other dealflow and investment news:
- Medley Health announces $20 M in Series A
Medley Health laded a $20 million Series A financing round from Cardinal Partners, Technology Partners and Vivo Ventures.
- Compression device maker raises $1.1 M
Compression therapy company Wright Therapy Products raised $1.1 million out of an expected $2 million in a recent funding round.
- Foundation Radiology raises $1M
Pittsburgh, Pa.-based imaging outsourcing company Foundation Radiology Group raised $1 million through a series of investors and renewed contracts as it looks to expand its hospital network.
- Israeli imaging company searches for U.S. home
Israeli imaging company Medic Vision is searching for a U.S. headquarters after a $3.5 million round of funding led by Cleveland, Ohio-based Bridge Investment Fund.
- ThermalTherapeutic lands $800,000 for its VeraTherm device
ThermalTherapeutic Systems raised $800,000 for the commercial launch of its VeraTherm hyperthermic perfusion device.
- Cohera Medical nears Series C close
Cohera Medical and its flagship tummy-tuck TissuGlu adhesive near the closing of a Series C round of financing that could reach $25 million.