What is Medsphere?
Founded and based in Salt Lake City, UT, Medsphere Systems Corporation is dedicated to enhancing patient care through award-winning healthcare IT solutions. The company offers a comprehensive portfolio including Wellsoft for acute and urgent care facilities, the ChartLogic ambulatory suite, RCM Cloud for revenue cycle management, HealthLine for supply chain management, and Marketware for healthcare relationship management and data analytics. Medsphere's Government Services Division also leverages its expertise in electronic health records (EHR) for projects with the Department of Veterans Affairs and 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, Azure Capital Partners, and EPIC Ventures
Private Equity (2009): $12M featuring Western Technology Investment, Thomas Weisel Capital Partners, Azure Capital Partners, and Epic Ventures
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 Morgan Stanley Expansion Capital and East West Bank
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 leading global investment firm providing flexible, long-term capital and innovative solutions across diverse sectors including healthcare. They focus on delivering robust risk-adjusted returns through data-enabled capabilities and cross-platform collaboration.
Morgan Stanley Expansion Capital
Morgan Stanley is a global financial services firm offering a wide range of investment banking, securities, wealth management, and investment management services to corporations, governments, institutions, and individuals worldwide.
Wasatch Venture Fund
Wasatch Venture Fund is an investment entity that provides capital to companies, likely focusing on growth-stage opportunities within various industries. Their involvement suggests a belief in Medsphere's market potential and strategic direction.
What's next for Medsphere?
The recent major strategic investment indicates Medsphere is likely in a growth or scaling phase, potentially focusing on expanding its market reach, enhancing its existing product suite, or pursuing strategic acquisitions. This capital infusion will enable the company to further solidify its position in the competitive healthcare IT landscape, driving innovation and supporting providers across various sizes and budgets.
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