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Healthcare IT firm Attune raises $6 mn from Norwest Venture Partners

Attune Technologies, a cloud-based healthcare IT product company  has raised $ 6 Million from multi-stage investment firm Norwest Venture Partners (NVP).

The IT solutions provider has built platforms to manage patient data and workflow in the cloud.

The company was founded in 2008 and is backed by Mercatus Capital India.

Its product is currently used in hospitals, labs, imaging centers, day care centers, dialysis centers and clinics, and has logged in more than 2 million patient records to date, the company said.

Hospital Information System and Lab Information Systems were two of the company’s major growth drivers, said its CEO Arvind Kumar who added that the funds will be used to grow its market share in India and other key global markets.

The company plans to deploy the funds to enhance product development and scale its business operations across South Asia, South East Asia, Middle East and China.

According to the company, diagnostics lab chains such as Metropolis, MEDALL and others have implemented Attune’s cloud-based system to track samples from the point of collection all the way up to storage.Hospitals such as Kamatchi Memorial Hospital, Kurinji Hospital, and others are using Attune’s system to automate.

The Singapore headquartered company has a product development Centre in India. It operates in Indonesia, Malaysia, Philippines and Vietnam as well.

In India, healthcare IT companies have seen a fair bit of investment flowing in. Last month, Bangalore based OneBreath, a medical devices company raised $ 3 million from a consortium of investors led by eBay’s Pierre Omidyar.

According to research from Mercom, Venture Capital funding in Healthcare IT worldwide was strong with $194 million going into 37 deals in the third quarter of 2012. The trend has continued for five quarters in a row.

Telcare, a mobile health care company based in the US raised $25.5 million followed by $20 million raised by Connecture, an online health insurance process automation company. Others included $17 million raised by Doximity, a professional social network for physicians. Clinipace, an eClinical technology provider of real-time access to the healthcare information raised $13 million, and Streamline Health Solutions, a provider of enterprise content management and business analytics solutions for healthcare organizations and SoloHealth, a healthcare technology and data analytics company raised $12 million each.