Mercom Capital Group is out with new projections that call for a 100% increase in venture capital funding for health IT this year.
Details contained in the new report indicate that some 150 deals in the third quarter of this year alone accounted for $737 million raised in VC funding.
The dollar amount of disclosed deals surpassed the second quarter total of $623 million.
Year to date, the report shows, the Healthcare IT sector has raised a disclosed $1.85 billion. All told, Funding into Healthcare IT is on pace to double over last year.
Healthcare practice-focused technology companies received $489 million in 59 deals with population health, EHR/EMR, practice management, and data analytics companies all receiving attention this quarter.
Consumer-focused companies received $248 million in 92 deals, with most funding ($161 million) going to the mobile health category, with mobile health apps and sensors receiving the most funding this quarter.
“With major parts of the Affordable Care Act on the horizon, the focus is on health insurance exchanges, preventative care, wellness, population health, and a general shift from quantity to quality of care, which is reflected in this quarter’s funding transactions,” says Raj Prabhu, CEO of the consulting firm.
To read the full report from Mercom Capital Group, click here.