Health IT

Health IT company Medversant raising $10M

Medversant Technologies, a Los Angeles-based health IT company focused on streamlining administrative processes, is raising $10 million, according to a filing with the SEC.

The company, which was founded in 1999 by attorney and healthcare entrepreneur Matthew Haddad, focuses on decreasing administrative waste for hospitals, managed care organizations, outpatient facilities, long-term care, home care and other provider organizations, according to its website.

It has revenues of somewhere between $5 million and $25 million, according to the SEC Form D filing.
It has so far raised $6.35 million through the sale of  debt and securities, with another $3.65 million to go, according to the filing.

The company designs a number of products, among them Encompass PM, Encompass HR and eQuality, along with its recently launched OneSource for providers, which lets providers outsource credentialing and enrollment management for health plans.


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