Secure EDI, a North Carolina, US-based healthcare transactions integrator, creating electronic interfaces between medical and dental providers and payers, has recived a “significant” growth equity investment from Abingworth, the international investment group focused on life sciences and healthcare.The capital infusion will provide some liquidity for early investors in the company as well as provide additional equity capital for investment in the business and additional acquisitions.
In conjunction with the investment, Abingworth Partners, Michael F. Bigham and David J. Mayer joined Secure EDI’s Board at completion of the transaction.
The company, which currently operates in the US and Puerto Rico, provides on-line coverage verification, real time adjudication of claims, electronic funds transfer, on-line reconciliation and a full range of informatics for payers and providers.
The investment was made from Abingworth’s growth equity fund, Abingworth Bioventures V Co-Invest Growth Equity Fund LP (AGE), and Abingworth Bioventures V.
FinSMEs
05/05/2010