Washington-based Clarity Health Services said it closed its investment round with USD 6.6 million financing from Columbia Pacific Advisors' Opportunity Fund. Clarity Health is a fast-growing provider of care coordination solutions for the healthcare industry. Columbia Pacific Advisors, meanwhile, is a Washington-based investment adviser with deep experience in public and private equity, real estate, distressed debt and special situation lending.
Clarity Health said it will use the proceeds to finance additional sales as well as for the company's development activity. More specifically, it will use the funds to develop the essential capabilities for both specialists and primary care practices even further. It will keep on growing its ability to give its support for Accountable Care Organizations or ACOs as well as in bigger health systems around the US, both in its existing areas of operation as well as in new places around the nation.
The company has posted a triple digit year-to-date growth prior to the funding. Columbia Pacific Advisors' Opportunity Fund first invested USD 3.0 million in capital for Clarity Health two years ago.
Clarity Health Chief Executive Officer Bill Bunker said 2013 has been extremely momentous for the company as their business has grown rapidly. He added, "Columbia Pacific Advisors has been an invaluable source of growth capital and strategic direction in the healthcare sector, and we're excited by their confidence in our prospects for 2014 and beyond."
Dan Baty of Columbia Pacific Advisors' said they had been impressed with the firm's rapid expansion to new markets after it was launched in 2007. He added, "We anticipate the company will see sustained demand for its practice management tools among hospital systems, ACOs, and physician practices."
Clarity Health was recently given the Tech Impact Award in the Health Category by Seattle Business Magazine. The award was given because of the firm's Emergency Department Discharge Notification product. The product is a web-based solution that gives healthcare providers real-time information on patients who made visits to the emergency department of a hospital.
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