Electronic medical record provider Medfar snags C$30m Series C round

• The investor was Investissement Québec
• Medfar earlier raised more than C$30 million led by Walter Capital Partners
• Founded in 2010, Medfar has developed solutions that streamline clinical processes and enable 15,000 healthcare professionals daily to provide better care for patients visits across North America

Montreal-based Medfar Clinical Solutions, a provider of web-based electronic medical record software solutions, has raised C$30 million in Series C financing. The investor was Investissement Québec.

This investment follows several recent strategic transactions and initiatives by Medfar, made possible in part by two investments totaling more than C$30 million and led by Walter Capital Partners. The company is also backed by BDC Capital and CIBC Innovation Banking.

Founded in 2010, Medfar has developed solutions that streamline clinical processes and enable 15,000 healthcare professionals daily to provide better care for patients visits across North America. It plans to enable 500,000 care providers to deliver care to 500 million patients across 5 continents by 2030.

The funds raised will support Medfar’s M&A initiatives.

“Investissement Québec is highly committed to supporting the development of promising companies like Medfar,” said Guy LeBlanc, president and CEO of Investissement Québec, in a statement. “Their innovative technological solutions have a significant impact on the healthcare sector by increasing efficiency and productivity in the medical field, as well as improving services to patients. We are proud to renew our support to Medfar and to be involved in this new phase to propel its growth as well as its acquisition and development strategy in new international markets.”

Investissement Québec, an affiliate of the Quebec government, is focused on stimulating business innovation, entrepreneurship and acquisitions, as well as growth in investment and exports.