Phytel Attracts $14.2M from Strategic Investment Partners

Phytel, Inc., a Dallas, Texas-based provider of automated coordinated-care tools and services empowering physicians to drive better patient outcomes, has attracted $14.2m in funding.

Investors include Polaris Venture Partners, Caris, Ltd. and LAH Investments, LP.
The investment will be used to advance product development initiatives that will expand Phytel’s market share.

Phytel provides a registry which uses evidence-based chronic and preventive care protocols to identify and notify patients due for service, while tracking compliance and measuring quality and financial results.

Commenting on the investment, David Barrett, a general partner of Polaris Venture Partners, said: “Phytel’s combination of visionary leadership and superb timing has made its offering a winner in today’s healthcare marketplace.
“The company’s web-based service helps doctors better manage their patients, and, as importantly, Phytel has proven its ability to help grow practice revenues through increased bookings.
“As investors, we see Phytel’s value proposition as compelling. We share the company’s excitement for its new and future products, and believe that healthcare reform initiatives will increase the demand for Phytel’s services even further”, he added.

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