Loinc

Halfpenny Technologies Secures $2.25 Million in Capital Investment


BLUE BELL, Pa.–()–Halfpenny
Technologies, Inc.
, a leading provider of clinical data integration
solutions specializing in laboratory, pathology and physician electronic
health record (EHR) system interoperability, today announced that it has
secured $2.25 million in venture capital funding co-led by
Connecticut-based Vital Financial and Philadelphia-based Emerald Stage2
Ventures. Prior investors including Pennsylvania-based Osage Venture
Partners, New York-based Milestone Venture Partners, and LORE
Associates, a Philadelphia-based angel, also participated in the round.

“We are very pleased to have the backing of investors who share our
vision of delivering innovative clinical data integration solutions to
hospitals, laboratories, and payors,” said Tim Kowalski, CEO of
Halfpenny Technologies. “This round of financing positions the company
to provide its Lab Hub platform to a broader range of clients.”

The Lab Hub platform enables computerized order entry (CPOE) and results
reporting interfaces between hospitals, laboratories and physician EHR
systems. It also fulfills downstream requirements for viewing
normalized, LOINC-mapped (Logical Observation Identifiers, Names and
Codes) data for chronic disease management and other population health
management goals.

For the past twelve years, Halfpenny’s healthcare connectivity
and integration solutions
have been connecting physician EHR systems
with hospitals and laboratories. In just the past two years, the company
has connected EHR systems in over 1,500 practices to hospitals and labs.
Halfpenny has successfully worked with EHR systems from more than 160
different vendors, enabling computerized physician order entry (CPOE)
and structured laboratory results reporting. Additionally, the Company’s
solutions satisfy the HEDIS clinical data reporting requirements for
health plans. Halfpenny’s products and services are helping physicians
and hospitals meet the laboratory related provisions of the HITECH Act’s
meaningful use criteria for CPOE, results reporting and quality
reporting.

Halfpenny also offers a Web-based
portal
that enables physicians to order laboratory procedures and
review results through a standard Web browser. The company’s mobile
results reporting solution
is enabling hospitals and labs to provide
physicians with critical value alerts and results reporting on mobile
platforms including the Apple iPhone, iPad, Android and Blackberry.

“Halfpenny’s proven cloud-based technology platform, deep domain
knowledge, and real-world value proposition position the company for
success in meeting the needs of the evolving healthcare market,” said
Craig Asher, partner at Vital Financial.

“We are excited to partner with Halfpenny as it extends its reach in the
evolving healthcare market. Halfpenny’s capability to facilitate
information sharing among disparate clinical systems will improve
efficiency, enhance care delivery and reduce healthcare costs,” added
Saul Richter, managing partner at Emerald Stage2.

About Halfpenny Technologies, Inc.

Halfpenny Technologies is a leading provider of healthcare connectivity
and integration solutions for Health Information Exchange. The Company
utilizes its depth of knowledge and real world clinical experience to
meet the increasing demand for connectivity to physician electronic
health record (EHR) systems. Through its proprietary Integration
Technology Framework™ (ITF-Hub), Halfpenny Technologies delivers
clinical data integration and connectivity solutions that enable
hospitals and laboratories to receive, process and respond to
physician-initiated requests for ancillary services. Halfpenny’s
targeted solutions cover the full spectrum of health information
exchange to provide reliable, secure and efficient exchange of clinical
information while also facilitating the flow of patient, financial and
administrative data between physician practices, laboratories, hospitals
and health plans. The Company has established a national reputation for
delivering innovative integration and connectivity technology solutions
for its clients. For more information, please visit www.halfpenny.com.

About Vital Fin

Vital Financial is an active early-stage venture investor in
business-to-business SaaS software and in medical diagnostics and device
companies throughout North America. We highly enjoy building long-term
relationships with dynamic management teams. We aim to support the
management teams with our operational and financial experience. For more
information, please visit www.vitalfin.com.

About Emerald Stage 2 Ventures

Emerald Stage2 is a Philadelphia-based venture fund that invests in
small financing rounds of early stage information technology companies
that utilize emerging technologies to create compelling business
opportunities. The Fund invests across the information technology
spectrum but has a special focus on the healthcare information
technology arena. The Fund’s other verticals of interest include
pharmaceutical information technology, financial services information
technology and outsourced business services. For more information,
please visit www.s2vc.com

About Osage Venture Partners

Osage Venture Partners, located near Philadelphia, PA, is a leading
provider of venture capital to early stage technology and healthcare IT
companies in the Mid-Atlantic region. Additional information is
available at www.osagepartners.com

About Milestone Venture Partners

Milestone Venture Partners, located in New York City, is an early-stage
venture capital fund with $70 million under management. Milestone
invests in early stage, capital-efficient Digital Health and information
services businesses. For more information about Milestone, visit www.milestonevp.com



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