Azalea Health, an integrated medical solutions provider, announced on the 15th of this month that it completed a $10.5 million Series B round of financing, led by growth-oriented private equity group Kayne Partners, and existing investor Intersouth Partners. In addition, Nishita Cummings, a partner at Kayne Partners, will join the Azalea Health board of directors. The company plans to use this financing to promote the company's growth and to consolidate its business through acquisitions.
Founded in 2008, Azalea Health is headquartered in Atlanta and is committed to providing integrated, technical medical solutions to its customers, including integrated electronic health records (EHR), business management, e-prescribing, interoperability services, personal health records, patient information. Portal system Azalea M mobile platform. In addition, the company provides Revenue Cycle Performance for all sizes and the most professional healthcare businesses. The company's focus is on rural markets that traditionally have inadequate medical technology services to meet the needs of communities and key healthcare institutions in an economically efficient manner, including Federally Qualified Health Centers and Rural Health Clinics. ) and related doctors' business. In the United States, approximately 20% of the population lives in rural areas, but only 10% of physician practitioners. This difference in supply and demand conditions creates unique ways and means of healthcare services that are common challenges for patients, caregivers, and physicians, and will ultimately lead to significant increases in the cost of the medical system. Azalea Health uses cloud technology that eliminates the need for hardware and software management, simplifies the complexity of electronic health archive technology and reduces costs.
Azalea Health co-founder and CEO Baha Zeidan said: "We are very pleased to have such an opportunity to cooperate with Kayne Partners. They are very concerned about the development of technology and share with us. What is important is that they have always had good health information technology. Performance. Now, hospitals and patients need tools that are more than ever needed to provide a strong return on investment, streamline workflow and ease of adoption and application. As payment method reforms focus on results and lower costs On the other hand, medical institutions need a comprehensive end-to-end platform to support all aspects of their business."
Nishita Cummings, who is new to Azalea Health's board of directors, said: "The types of companies Kayne is currently looking for are: an unrivalled competitive advantage in fast-growing industries, and a very strong management team. Azalea is working hard for the US Providing solutions to the current situation and needs of the rural healthcare market, we know that this is a significant growth opportunity for Azalea, and we believe they can take advantage of this opportunity to achieve their unique positioning."
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