International Transactions
June 2017 Financial Technology, Data, and Analytics
Marlin Equity-backed SigmaCare based in New York is acquired by MatrixCare, a subsidiary of Logibec of Canada
MatrixCare was voted as the number one Best in KLAS software for the long term care market. The company has been in business for over 30 years. MatrixCare is truly one of the most innovative vendors in a sector that has traditionally been viewed as “sleepy”. For example their software seamlessly integrates with non-Matrix sources including 500 telehealth devices. SigmaCare has been owned by Marlin Equity since July 2013. The company is a substantial player in its own right. This is a great combination.
Sorento Healthcare Communications of India is sold to Havas
Sorento is a healthcare advertising and communication agency that has been around since 1998. Havas, a global advertising agency. India’s growing pharma market as well as its strong healthcare IT presence, offers attractive opportunities for Havas. The target customer list is who is who in India including some global players such as Abbott and J&J.
Ottonova, a German on line health insurance company, raises $11 million
What is interesting here is that the funding was provided by Debeka, which is the largest brick and mortar German private health insurance company. Just a few months ago Ottonova raised $18 million from traditional VC funds. Target population is the young and affluent. Just with a few clicks the person can select a plan and complete a contract. The fever of an Oscar-type model is catching on fast.
Figure 1, based in Canada raises $10 million bringing total funding to $20 million
Figure 1 is an image sharing application. The technology allows physicians to seek advice of colleagues around the world. The platform can also be used for educational purposes. Imagine having the ability to page over one million healthcare professionals around the world and ask them tough questions about your patients. Knowledge sharing has great potential to bring high quality care to the most in need, no matter the location.
Xen Partners
242 Forest Avenue
Palo Alto, CA 94301
mobile: + 1 (917) 887-4278
Afsaneh@XENPartners.com
www.XENPartners.com