# Medsphere Systems Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/medsphere-systems

- Industry: Healthcare IT
- Headquarters: Carlsbad, US
- Website: www.medsphere.com
- Total disclosed funding: $7.5M
- Latest round: Series B (Jan 25, 2005)
- Investors on record: 3

## About

Medsphere Systems Corporation specializes in innovative healthcare IT solutions, providing comprehensive electronic health record systems and revenue cycle management that enhance patient safety and streamline clinical workflows.Founded in 2002 and headquartered in Carlsbad, US, Medsphere Systems Corporation focuses on delivering healthcare IT solutions. The firm has completed 16 deals, with its latest funding round occurring on January 13, 2020, when it raised USD 40 mn from TPG Sixth Street Partners. CEO Irv H. Lichtenwald leads the company, which has not undergone significant pivots or changes in operations since its inception.Medsphere offers a comprehensive suite of healthcare IT solutions designed to meet the diverse needs of inpatient and ambulatory facilities. Their core product, CareVue, is a fully integrated electronic health record (EHR) system that facilitates coordinated patient care across various environments, including acute care hospitals, critical access hospitals, and behavioral health facilities. This system is tailored to enhance patient safety and clinician communication, particularly for patients with chronic conditions. Additionally, Medsphere provides Revenue Cycle Management (RCM) solutions that optimize financial operations for healthcare providers, along with ChartLogic, an ambulatory EHR suite catering to physician practices across multiple specialties. These offerings are utilized by a broad client base, including government entities and private healthcare organizations, across various geographical markets such as urban areas and rural regions in the United States.Medsphere generates revenue primarily through subscription-based models and service agreements linked to its suite of healthcare IT solutions. The company's flagship products, including CareVue and RCM Cloud, are typically contracted on an annual basis, allowing healthcare providers to integrate these systems into their operations. The transaction structure appears to involve direct agreements with healthcare facilities, enabling them to enhance their operational efficiencies and patient care capabilities. Medsphere’s offerings facilitate improved financial performance for clients, thereby supporting ongoing revenue growth. The integration of services such as ChartLogic and Wellsoft EHR into the provider workflow further positions Medsphere as a valuable partner in the healthcare IT sector without disclosing specific pricing plans or financial terms.In January 2020, Medsphere Systems Corporation raised USD 40 mn in venture funding from new investor TPG Sixth Street Partners. The company plans to leverage this funding for the development of new products and to expand its market presence. Specific initiatives include the launch of enhanced features for its CareVue system and strategic expansions into new geographic markets to better serve healthcare providers. The target timeline for these expansions is set for the next two years.

## Funding rounds

- Series B, Jan 25, 2005, $7.5M — EPIC Ventures, Azure Capital Partners, TWP Private Wealth Management

## Investors

- EPIC Ventures (https://capitalatlas.ai/funds/epic-ventures) — Series B
- Azure Capital Partners (https://capitalatlas.ai/funds/azure-capital-partners) — Series B
- TWP Private Wealth Management (https://capitalatlas.ai/funds/twp-private-wealth-management) — Series B