ikaSystems Receives Private Equity Financing

ikaSystems Corporation, a Southborough, MA-based provider of enterprise-level Web-based technologies for the healthcare payer market, received an undisclosed financing from Essex Woodlands Health Ventures.
The funding, which follows the recent investment made in the company by Providence Equity Partners, will be used to accelerate growth, including enhancing project management, account management and implementation services as the company continues to rapidly expand its market share.
Eran Broshy, former chief executive officer and currently chairman of inVentiv Health, Inc., and a senior advisor at Providence, will serve as chairman of the board at ikaSystems.
In addition to Ravi Ika, chief executive officer of the company, Steve Wiggins, Managing Director at Essex Woodlands, and Eran Broshy, the ikaSystems board of directors will include Peter O. Wilde and Jesse Du Bey of Providence Equity Partners.



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