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Election Unlikely To Affect Strong Health IT Market, Report Says

Venture capital funding in the health IT industry has remained strong for the  fifth consecutive quarter, and the trend is expected to continue regardless of  the outcome of the presidential election, according to a report from Mercom Capital Group, Healthcare IT News reports.

Report Findings

The report found that 58 investors participated in funding rounds  during the third quarter of 2012, with some investors participating in  multiple deals.

According to the report, the top-funded types of health IT companies  during Q3 2012 were:

  • Health information management companies, which received $101 million in  20 deals;
  • Mobile health companies, which received $39 million in seven deals; and
  • Social health network companies, which received $26 million in four  deals.

In addition, the report found that 37 merger and acquisition transactions  occurred in Q3 2012, amounting to $3.2 billion.

Comments

Raj Prabhu, managing partner of Mercom, said, “2012 has the potential to  be a billion dollar VC funding year for the sector,” adding, “[T]here continues  to be a strong interest and demand in the (health IT) sector with a consumer  angle as health apps and social health networks are becoming popular and more  mainstream.”

He credited the HITECH Act, the Affordable Care Act and HHS’ Health Data  Initiative for fostering growth in the health IT market (Manos, Healthcare IT  News, 10/23).

Source: iHealthBeat

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