What is Medsphere?
Founded and based in Salt Lake City, UT, Medsphere Systems Corporation is a dedicated organization of clinical and technology professionals focused on positively impacting patient care. They deliver award-winning healthcare IT solutions tailored for providers of all sizes and budgets. Medsphere's extensive portfolio includes Wellsoft, a comprehensive electronic health record (EHR) solution for acute and urgent care facilities; the ChartLogic ambulatory suite; RCM Cloud, a complete end-to-end revenue cycle management solution; HealthLine, a versatile supply chain management product; and the Marketware suite for healthcare relationship management and data analytics. Additionally, Medsphere's Government Services Division leverages its legacy EHR expertise for development and testing projects with the Department of Veterans Affairs and the Indian Health Service.
How much funding has Medsphere raised?
Medsphere has raised a total of $124.4M across 11 funding rounds:
Private Equity
$991K
Private Equity
$12M
Debt
$2.6M
Debt
$1M
Debt
$7.5M
Private Equity
$15.3M
Other Financing Round
$32M
Private Equity
$40M
Debt
$2M
Private Equity (2009): $991K supported by Thomas Weisel Venture Partners, EPIC Ventures, and Azure Capital Partners
Private Equity (2009): $12M featuring Epic Ventures, Western Technology Investment, Thomas Weisel Capital Partners, and Azure Capital Partners
Debt (2011): $2.6M, investors not publicly disclosed
Debt (2014): $1M with participation from Azure Capital Partners
Debt (2015): $7.5M led by Horizon Technology Finance
Private Equity (2016): $15.3M, investors not publicly disclosed
Other Financing Round (2018): $32M featuring East West Bank and Morgan Stanley Expansion Capital
Private Equity (2020): $40M backed by Sixth Street Partners
Debt (2020): $2M with participation from PPP
Key Investors in Medsphere
Sixth Street Partners
Sixth Street is a global investment firm providing flexible, long-term capital and innovative solutions across diverse sectors including healthcare and software. They are known for their data-enabled capabilities and cross-platform collaboration to build businesses and create unique investment structures.
Azure Capital Partners
Azure Capital Partners is an investment firm that focuses on post-seed and early-stage companies at pivotal growth points, investing in transformative technologies and helping entrepreneurs expand their businesses.
Horizon Technology Finance
Horizon Technology Finance is a specialty finance company providing structured debt financing solutions to development-stage companies, primarily in technology and healthcare information services, through venture lending.
What's next for Medsphere?
The recent major strategic investment in Medsphere Systems Corporation, following substantial prior capital infusions, indicates a strong trajectory for scaling its operations and expanding its market reach. The company's focus on comprehensive EHR, revenue cycle management, and data analytics solutions positions it to capitalize on the increasing demand for integrated and efficient healthcare IT infrastructure. Future developments are likely to involve further enhancement of its existing product lines and potentially strategic acquisitions to broaden its service offerings. The sustained backing from investors suggests a strategic emphasis on innovation and market leadership within the competitive healthcare technology sector.
See full Medsphere company page
