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Thursday, December 22, 2011

PatientKeeper pulls in $6M, names Hazard chairman

By Rodney H. Brown

Waltham health care information systems company PatientKeeper Inc. has taken in $6 million in new funding from existing investors, including Flybridge Capital Partners, New Enterprise Associates and Whitney & Co.

In a release issued Thursday, PatientKeeper said the new funds would allow PatientKeeper to "support growing market demand" that it says is being driven by regulatory requirements. Specifically, PatientKeeper said that the funds would go toward product development and the expansion of PatientKeeper’s professional services organization.

PatientKeeper also announced that Flybridge general partner Chip Hazard, who joined the company's board in 2009 in conjunction with a $13 million round of equity and debt financing, has been named chairman of the PatientKeeper board. In today's release, Hazard said that, since Flybridge's initial investment when he joined the board, the company has seen the number of physicians using its products "more than quadruple, from 9,300 to more than 40,000."

In September, PatientKeeper landed $1.5 million of a planned $3 million debt financing round, according to U.S. Securities and Exchange Commission documents. 

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