Founded in 1996, Edifecs is a premier technology company in the U.S. healthcare market with solutions focused on interoperability, workflows, value-based care payments, and analytics.
FREMONT, CA: Global health information technology solutions company, Edifecs, received growth investment funds from TA Associates and Francisco Partners. The investment amount is assumed to be over USD 1.4 billion from the two investors combined. Official figures for the deal which is expected to close in the third quarter of 2020 were not disclosed. In conjunction with the funding, Ashutosh Agrawal, a managing director at TA Associates, Ezra Perlman, co-president of Francisco Partners, Jennifer Mulloy, a managing director at TA Associates, and Ali Evans, a vice president at Francisco Partners, will join the Edifecs Board of Directors.
“Today’s healthcare industry is in a transformation, and technology companies play a key role in helping the industry navigate this change at an accelerated pace,” said Gurpreet (Sunny) Singh, founder and CEO of Edifecs. “The investment from TA Associates and Francisco Partners will help Edifecs catalyze this transformation, innovate faster and bring technology to market quicker to meet the demands of our customers.”
Founded in 1996, Edifecs is a premier technology company in the U.S. healthcare market with solutions focused on interoperability, workflows, value-based care payments and analytics. Since its inception, the company has provided a full range of capabilities to support most healthcare entities. Edifecs Allows customers to optimize the secure exchange and processing of administrative and clinical data, reducing the cost of meeting various regulations and automating workflows involved in multiple core processes within the healthcare ecosystem. The company has over 600 employees in Bellevue, Washington, Atlanta, Georgia and Mohali, India, and an engineering center in Moldova.
“As stakeholders in the U.S. healthcare market shift from fee-for-service models to value-based care arrangements, the interoperability of healthcare data that Edifecs enables will become increasingly vital,” said Agrawal. “We believe that Edifecs is well-positioned to capitalize on this trend, and we look forward to partnering with Sunny, the Edifecs team and Francisco Partners as Edifecs enters its next phase of growth.”
Edifecs was initially a startup that provided technology solutions for integration problems. In 2001, the company entered the healthcare industry, as it saw opportunities to help customers with transaction and information processing, particularly as communication documents moved from printed paper to computers. The company recently launched a COVID-19 dashboard to help payers analyze COVID-19 testing claims data.