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DrFirst Health Technology Company Raises $ 50 Million to Grow its Product Range

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DrFirst, a company that provides a range of health technology solutions, recently It closed an investment of $ 50 million Of Sixth Street Growth, part of the global investment company Sixth Street.

This latest investment, announced on Wednesday, brings DrFirst’s total money raised in 2020-21 to $ 135 million. The company did not disclose its assessment.

JC Cameron Demer, president of the company, said in an email that DrFirst, headquartered in Rockville, Maryland, offers a wide range of solutions, from electronic prescriptions to telehealth and care collaboration to price transparency tools. The solutions are used by nearly 300,000 healthcare providers and more than 1,400 hospitals in the United States and Canada.

The overall goal of the company, Demer said, is to create what it calls a “healthy universe”, that is, a world in which healthcare stakeholders relate to each other in real time.

With the new funds, DrFirst plans to expand its product portfolio to provide customers with a wider range of health technology solutions and help create ‘healthy diversity’.

Funds from Sixth Street Growth represent a tracked investment. Sixth Street previously invested $ 35 million in DrFirst.

“Software that improves workflow in healthcare has been a long-term topic of our team, and DrFirst stands out as an expanded, enterprise technology platform that delivers high-quality, easy-to-use technology solutions,” said Michael McGinn, Partner and Co-President. From Sixth Street Growth, in a press release.

Founded by CEO and Chairman James F. Chen in 2000, DrFirst focuses on growth and diversification, which is one of the ways the company sets itself apart from competitors.

“Nobody offers the range of products and services that we offer, and we have different competitors in different areas of our business,” Demer said. “What makes us so unique is our focus on adding value that vendor systems can provide to their customers, which include hospitals, health systems, pharmacies and physician practices.”

Dr. First also added that he collaborates with payment agencies and life sciences organizations, including clinical trial organizations and pharmaceutical companies.

Increasingly, health technology companies are integrating value-added services into their offerings and are looking to provide a comprehensive range of products. Over the past year, there have been several large transactions in space, from Teladoc’s $$ 18.5 billion acquisition of the digital health company Levongo, To take care of the Grand Rounds navigation company Integration with Doctor on Demand.

Photo: Topp_Yimgrimm, Getty Images

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