International Transactions

Dragoneer Investment Group buys an additional $180M of PointClickCare shares based in Mississauga, Ontario

After this purchase, Dragoneer is now a 20% owner of the company. PointClickCare is an EMR software platform focused on long term and post care acute market. The company has grown quickly and serves 15,000 communities and agencies on its platform. Over 1.2 million active resident records are now managed by PointClickCare. FY 2017 revenue was $200M.

Nasdaq-listed and Bedford, OH-based ViewRay secures $60M in funding from the Chinese investment firm, Fosun

Fuson is taking a 10% equity in return for the funds. ViewRay which is listed ono NASDAQ, markets radiation therapy solutions. The MRI-guided therapy Is combined with radiation therapy, enabling real time imaging that clearly defines the targeted tumor from the surrounding soft tissue. It is not hard to see that this technology can lead to better outcomes for patients and improve their safety and the efficacy of their treatment.

UBCare of Korea receives $44M investment from Kakoa Investment

UBCare is a public company with over $72M in revenue. The company is one of the leading IT shops in the healthcare sector. Kakoa’s parent company is a broad-based wireless telecom company. It is not the first time that a telco is getting into the healthcare business. Telus, one of the largest telecommunication companies in Canada, is an active investor/acquirer in healthcare as well.

Shortly after the raise, UBCare spent $18M to buy Brain Healthcare, a healthcare SI in Korea.

MedGenome of India raises $40M in Series C

MedGenome is a leading genetic diagnostics company. Sanofi and Sequoia India are amongst the investors.

Funds will be used to help move the company to smaller cities.  Some of the tests that the company is focusing on include pre-natal screening and newborn genetic testing. The company has performed over 100,000 tests and claims to have helped clinicians solve 40% of their unresolved cases.

Medial EarlySign of Israel raises $30M Series A

Medial EarlySign Ltd develops a healthcare technology for providers to identify risks for critical threats. It offers AlgoMarkers and AlgoAnalyzer, predictive engines that allow healthcare organizations to diagnose large number of patients and deliver clinical rigor and algorithmic insights. The company was founded in 2009.

UK-based Owlstone Medical raises $15M; diagnosing cancer via breath

Owlstone uses a breath inhaler to detect cancer. The start up sees the test enabling detection of cancers and stratification of patients through the analysis of exhaled volatile organic compounds (VOCs). In the past the company raised monies to run clinical trials in lung and colorectal cancers through a tie up with GlaxoSmithKline. The new technology is backed by Horizon Ventures of Hong Kong and is focused on lung cancer.

Health Italia S.p.A raises $12.3M via a PIPE issue

Health Italia is a broad base health IT software and consulting company. HI provides a variety of services from claims handling to managing welfare plans on behalf of the government. HI has approximately $26M in annual revenue and has a market cap of $78M.

StarTek, a NYSE-listed company, raises $10M from Capital Square Partners of Singapore

StarTek is a broad base IT support and  customer engagement company in a variety of sectors including healthcare. The company has demonstrated impressive results for quickly enrolling members in PBM plans and other functions requiring an accelerated member enrollment.