Venture capital firm SV Life Sciences has positioned itself in the U.S. health IT sector, which it expects to bloom given incentives aimed at helping doctors automate. Its latest fund, the $523 million Fund V, targets companies that serve U.S. doctors, who now have a $17 billion motivation to adopt information technology, reports Xconomy.
The multimillions in incentives promised by the government are intended primarily to boost adoption of electronic medical records. So the technical terrain may appear familiar to SV, which funded e-clinical solutions provider Phase Forward more than a decade ago when the clinical trial discipline sprouted its automation wings. Phase Forward is now being purchased by Oracle.
SV doesn't restrict itself to solution providers. It helped launch IT staffing company Vitalize Consulting Solutions. The venture funds provider reasons that its own difficulty in finding solid health IT product companies to finance and develop was likely accompanied by a shortage of information technologists trained in healthcare apps.
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