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Halfpenny Technologies secures USD2.6m in capital investment

Halfpenny Technologies, a provider of clinical data integration solutions specialising in laboratory, pathology and physician electronic medical record system interoperability, has secured USD2.6m in venture capital funding co-led by Pennsylvania-based Osage Venture Partners and New York-based Milestone Venture Partners.

Lore Associates, a Philadelphia-based angel group, also participated in the round.

“We are extremely pleased to have the support of investors who affirm our vision of providing innovative clinical data integration solutions for hospitals and laboratories,” says Jerry Baker, chief executive of Halfpenny Technologies. “With this financing, the company is well-positioned to deliver its Lab Hub platform to meet the increasing demand for products that support laboratory outreach, health information exchange and regional extension centre initiatives.”

The Lab Hub platform enables computerised order entry and results reporting interfaces between hospitals, laboratories and physician electronic medical record systems.

“Halfpenny’s strong technology platform, domain expertise and solid business strategy combined with its growing client base have positioned the company to move to the next level, and we look forward to partnering with Halfpenny in meeting the needs of the evolving healthcare market,” says David Drahms, vice president at Osage Venture Partners.

“We are excited to support Halfpenny’s efforts to extend its reach in the healthcare space and to facilitate information sharing among a variety of healthcare constituents, thereby improving efficiency, enhancing care delivery and reducing healthcare expenditures,” adds Todd Pietri, general partner at Milestone Venture Partners.

Drahms and Pietri will serve on the Halfpenny board of directors.

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