Health care predictive modeling company Medalogix announced today it has received a $5 million investment from Connecticut-based Coliseum Capital Management.
The investment follows a period of growth for the post-acute care data company, which has hired five new employees in leadership roles during the last two months. The team is up to 18 employees so far, and president and CEO Dan Hogan expects to hit 25 by the end of the year. Last year, Medalogix tripled its client base and teamed up with IBM for an integration project. Hogan also reports the company has outgrown its space and will move into a new office on Fifth Avenue in Germantown this September.
"This investment is a huge step forward for Medalogix and came at exactly the right time for us to build on the momentum we've had so far in 2014," Hogan said in a release. "We've doubled our staff since December 2013 and have already outgrown one office this year. We've also significantly increased our client count for both our Bridge and Home platforms."
Hogan launched Medalogix in 2009 looking to improve the capture and use of data in the post-acute care sector. In mid-2012, he secured $100,000 in angel funding to build out his platform. Hogan said the $5 million will enhance sales and development capabilities, as well as build a broader base in account management, business development and technology.
"After demonstrating the profitability from the use of these tools, this investment will embolden us to move into new markets," Hogan said.
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