Thursday, March 19, 2009

MedAptus captures $6M in new funding

By Mass High Tech Staff

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Health care billing software company MedAptus Inc. says it has landed $6 million in a fourth round of financing led by existing investor Boston Millennia Partners, to boost the growth of its Intelligent Charge Capture products suite.

MedAptus CEO Dennis Mitchell said that the new funds will allow the Boston-based company to work on improvements to its products and new innovations. MedAptus makes and sells electronic charge capture technologies for professionals, clinics and health-care facilities.

MedAptus, founded in 1999, reported in late March that 2007 was the “most productive” year in its history, in terms of customer wins -- Kentucky Medical Services Foundation and the Nassau Health Care Corp. are among its recent newest users -- and the introduction of new products. It reported a 20 percent rise in employee head count. Dana-Farber Cancer Institute is also a customer.