Modernizing Medicine received $231 million in funding from Warburg Pincus, a global private equity firm.
Modernizing Medicine is a provider of specialty-specific health information technology. Its flagship product, the EMA, is a cloud-based, specialty-specific EHR system. The company’s suite of products also includes practice management and revenue cycle management solutions as well as telehealth for dermatology and analytics.
With the new funds, the company aims to pursue numerous strategic initiatives, including automation of prior authorization workflows, deployment of an eCommerce platform, investment in data exchange and reconciliation as well as improving access to care via telemedicine.
Additionally, Modernizing Medicine added Fred Hassan, managing director of Warburg Pincus and Amr Kronfol, principal at Warburg Pincus, to its board of directors.