F-Prime invests in VitalWare

F-Prime Capital Partners invested in VitalWare, a Yakima, Washington-based provider of revenue cycle software solutions to healthcare organizations. F-Prime was the sole institutional investor in the Series A financing. F-Prime partners Jon Lim and Carl Byers have joined the VitalWare board of directors.

 

PRESS RELEASE

YAKIMA, WA–(Marketwired – February 25, 2016) – VitalWare™, a leading provider of revenue cycle SaaS solutions to healthcare organizations, announced today that it has received a growth investment from F-Prime Capital Partners (formerly Fidelity Biosciences), a global venture capital firm investing in healthcare and technology.

Since its founding in 2011, VitalWare has created and launched six SaaS products to build an intuitive suite of cloud-based Analytics, Documentation, Coding, Billing and Auditing technologies. The backbone of this suite is the patent-pending, proprietary medical terminology engine, ICD Sherpa™, which guides physicians, clinical documentation staff and coders through the increased specificity requirements found in the new ICD-10 code set. VitalWare is the only vendor that provides a technology that enables consistent search results to all three of these major constituents. The Company was recently ranked #123 on the 2015 Inc. 500 list of the fastest-growing private companies in America.

VitalWare is led by Kerry Martin, President and Chief Executive Officer, who previously founded and headed CodeCorrect, an industry leader in traditional revenue cycle solutions.

“VitalWare is well-positioned to respond to the tremendous growth and demand we’re seeing industry-wide,” said Martin. “This funding from F-Prime Capital helps us to continue investing in future technology, sales and marketing, and talent to provide the best healthcare revenue cycle solutions available in the industry.”

F-Prime Capital was the sole institutional investor in the Series A financing. F-Prime partners Jon Lim and Carl Byers have joined the VitalWare board of directors.

“We are excited to partner with Kerry and his experienced management team as they continue to build and deliver intuitive solutions to serve their current and future customers,” said Lim.

“Healthcare is changing and so are the needs of today’s healthcare providers. We are passionate about the businesses that are reshaping the industry to move health technologies forward,” shared Byers, who served as former Chief Financial Officer at athenahealth, Inc. “At VitalWare we see exactly that. The management team’s vision and the company’s technology is going to make a difference for many organizations, and we look forward to being a part of it.”

About VitalWare

At VitalWare we make the business of healthcare easier through intuitive cloud-based technologies and advanced knowledge sharing. Our team shapes businesses in the marketplace by delivering best-in-class products and service for a powerful user experience. We identify and simplify challenges in an ever changing and regulated industry, making your job easier.

About F-Prime Capital

F-Prime Capital (formerly Fidelity Biosciences) is a global venture capital firm investing in life sciences, healthcare and technology. F-Prime has worked closely with entrepreneurs and academics to create innovative solutions to some of the world’s most significant challenges in healthcare and technology.