Concert Genetics, Inc., a Nashville, Tenn.-based provider of the data and digital infrastructure for reliable and efficient management of genetic testing, completed a growth capital financing round with a structured facility led by Deerfield Management.
The amount of the deal was not disclosed.
The company intends to use the funds to expand to expand its offerings.
Led by Rob Metcalf, CEO, Concert Genetics aims to advance precision medicine by providing the digital infrastructure for reliable and efficient management of genetic testing. The company’s software platform is used by thousands of clinicians and hospitals nationwide to navigate the cost and complexity of genetic test selection, ordering, and results retrieval. Its genetic test order management platform leverages a proprietary database of the U.S. clinical genetic testing market – today more than 75,000 testing products – and genetic testing claims from more than 100 million lives.
The company also enables health insurers implement genetic testing and precision medicine strategies. Future releases of Concert’s platform will enable greater connectivity between providers, laboratories, and health insurers.