MedAptus to expand healthcare information technology leadership position
Boston, MA - December 09, 2003 - MedAptus, Inc., a leading provider of point-of-care solutions for physicians, today announced that it has secured commitments for a $5 million equity financing round led by Boston Millennia Partners.
Concurrent with the financing, the company is naming Vice Chairman Dennis Mitchell as CEO. "The management team is very excited with the ongoing financial commitment to MedAptus," said Mr. Mitchell. "This new financing allows us to expand our leadership in revenue cycle management for physicians and will help us extend into complementary clinical and financial applications."
In total, MedAptus has added 45 new clients this year and installations have more than tripled as the company deploys its solution to its growing backlog of physicians. MedAptus also released version 4.0 of its charge capture product earlier in the year, which has been well received by the market. MedAptus has signed several distribution partnerships that include integration of its product with other industry leading applications."
MedAptus has made extraordinary progress over the past 12 months," says Dana Callow, Managing General Partner of Boston Millennia Partners and Chairman of the Board of MedAptus. "The Company is well positioned to continue to capture market share due to demonstrated success solving problems for a wide range of physician practices, hospitals and academic medical centers."
About MedAptus Corporation
MedAptus, Inc. is a healthcare information technology company providing point-of-care solutions for physicians. MedAptus provides clinicians with a comprehensive suite of workflow and revenue enhancing solutions including patient management, charge capture, dictation and clinical content. MedAptus' flagship application, Charges In Hand™, allows physicians to document professional charges at the point-of-care. The use of Charges In Hand™ increases efficiency, reduces the lag time between professional services and claim submission and improves compliance with billing regulations. Additional clinical solutions are under development to augment the suite and create a unified mobile and web-based offering. MedAptus can be reached via www.MedAptus.com or email to info@medaptus.com or by calling 617-896-4000.