Capstone Partners, advised Medsphere Systems Corporation (Medsphere or the Company), a leading healthcare IT solutions provider, on a $30 million financing from Hercules Capital.
It was a pleasure working with Capstone in our financing of Medsphere and the follow-on acquisition of Stockell. The team at Capstone played a key role in shepherding the deal from start to finish, and we look forward working together in the future.
Medsphere’s OpenVista® is an acute and inpatient behavioral health-oriented portfolio of clinical products and services that leverages the VistA electronic health record (EHR) system developed by the Department of Veterans Affairs (VA) and the Indian Health Service (IHS). Medsphere’s Government Services Division also applies that VistA expertise to development and testing projects for both VA and IHS. Medsphere’s Phoenix Health Systems division provides a host of healthcare IT services, including systems implementation, compliance project management, service desk, end-user device management, infrastructure support, application management and IT leadership.
“Medsphere required this fresh infusion of capital to meet the increased customer demand and expansion of product offerings”, said David Baker, Managing Director in the Healthcare Group at Capstone. “By combining full-functionality with affordability, Medsphere offers the epitome of value to its customers”.