Advisory Board Co. has acquired Care Team Connect, an Illinois-based developer of population health management tools that was backed early on by a trio of local investors. Way back in 2010, Martin Companies teamed up with Heritage Group and the Nashville Capital Network as well as some other firms to pump $2.7 million into Care Team Connect, whose software helps providers coordinate their care plans.
“This is a very successful exit for Nashville Capital Network, NCN Angel Fund I, and our angel partners. Our Nashville-led investment syndicate included some of the leading health care entrepreneurial investors in our community. Ultimately, some of the relationships within our group led to the connection with The Advisory Board,” said Sid Chambless, Executive Director of Nashville Capital Network.
The leaders of local legal software developer Cicayda are raising more capital for the two-year-old company, which put a bow on its second raise this summer. As then, CEO Roe Frazer and his downtown-based crew have their eyes on $1 million.
A small specialty hospital north of Houston has signed on to use the electronic health records and patient documentation software packages developed by local companies Healthcare Management Systems ad Patient Logic, respectively. Aspire Hospital is owned by a group of doctors and is investing in an expansion that will add a sleep center as well as more imaging and oncology services. Both HMS and Patient Logic are division of HealthTech Holdings.
Nashville startup OverDog Inc., which provides a mobile app that helps align professional athletes and their fans with video game playing, raised $450,000 via a recent equity offering, the Nashville Business Journal reports. NBJ cites a filing with the Securities and Exchange Commission. Hunter Hillenmeyer, a former Chicago Bears linebacker and Nashville native who played college football at Vanderbilt, founded OverDog.
Changing how you go about doing your work is the type of decision that can mortally wound a successful small or mid-sized business. But it's one Emma CEO Clint Smith and his team felt they needed to make a couple of years ago. The New York Times this week wrote about the web marketing company's software overhaul, which was rolled out a year ago. Yes, it came with hiccups and glitches. But it has set up the company to take future growth in stride.
The principal operating guideline was to design a flexible system that would remove the need to do anything like this again. “We didn’t know what the marketplace would look like in five years,” Mr. Smith said. “Also, we didn’t know how databases would evolve in five years either. We couldn’t design for the future, but we could design something that could adapt to what the future will bring.”
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