ORIX Completes Growth Capital Investment in Practice Fusion
November 08 2016 - 1:13PM
Business Wire
ORIX Growth Capital announced today that it has completed an
investment in Practice Fusion, the leading cloud-based electronic
health record (EHR) platform for doctors and patients in the U.S.
The capital will be used in part to support the continued expansion
of Practice Fusion’s industry leading product suite and data
solutions business.
“As the largest cloud-based EHR platform, Practice Fusion is
well-positioned to expand its capabilities, capture additional
market share and continue to innovate across its offerings,” said
David Orlandella, Managing Director and healthcare lead for ORIX
Growth Capital. “We are impressed with the Practice Fusion team and
believe they can capitalize on both the growing need for a
flexible, fully compliant EHR platform, and the expanding role of
big data in the healthcare industry.”
Headquartered in San Francisco and founded in 2005, Practice
Fusion serves more than 30,000 practices across 50 states through
its cloud-based EHR platform. In 2015, the company reached
significant growth milestones that included adding over 5,000 new
active medical practices and dozens of life sciences partners, and
realizing accelerated year-over-year revenue growth of more than 70
percent. The company is also on track to meet or exceed its key
growth targets for 2016.
“We look forward to using portions of the capital investment
from ORIX to help fund initiatives that will allow us to better
serve our physician and patient community,” said Tom Langan, CEO of
Practice Fusion. “These include initiatives that will help
accelerate increased connectivity among disparate parts of the
healthcare ecosystem through advancing the interoperability
capabilities of our EHR platform.”
ORIX Growth Capital
ORIX Growth Capital specializes in designing highly customized
financing solutions for high-growth companies with investments
starting around $5 million and growing to $50 million. The team has
committed over $1.4 billion to more than 125 companies. ORIX Growth
Capital is a business unit of ORIX USA, a Dallas-based financial
services firm known for providing innovative capital solutions that
clients need to propel their business to the next level. With more
than 600 employees spanning nearly 20 offices across the U.S. and
Brazil, ORIX USA and its family of companies hold $6 billion of
assets and manage an additional $29 billion, approximately. Its
parent company, ORIX Corporation, is a Tokyo-based, publicly owned
international financial services company with operations in 37
countries and regions worldwide. ORIX Corporation is listed on the
Tokyo (8591) and New York Stock Exchanges (IX). For more
information on ORIX Growth Capital, visit www.orix.com.
Practice Fusion
Practice Fusion is the #1 cloud-based electronic health record
(EHR) platform for doctors and patients in the U.S., with a mission
of connecting doctors, patients and data to drive better health and
save lives. By facilitating over five million patient visits a
month with more than 600 connected partners, Practice Fusion helps
coordinate care within the largest healthcare ecosystem in the U.S.
As the most widely used cloud-based ambulatory EHR, Practice Fusion
is helping to reshape the future of healthcare. For more
information about Practice Fusion, please visit:
http://www.practicefusion.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161108005998/en/
for ORIX USAAmanda Gleason,
972-770-5083agleason@marketwave.bizorJeff Smith,
214-237-2301Jeff.smith@orix.com
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