Quebec-based private equity firm Walter Capital Partners has acquired a minority stake in Medfar Clinical Solutions (“Medfar”), a Montreal-based provider of electronic medical records, by leading a CAD$25 million investment round. Medfar did not disclose the other investors participating in the round. Éric Phaneuf, president and CEO of Walter Capital Partners, will join Medfar’s board of directors. The new capital will be used by Medfar to expand the reach of its web-based electronic medical records solutions, including through technology development, the hiring of additional employees, and acquisitions of other firms.
Medfar was founded in 2010 by two aeronautical engineers and “aims to simplify the administrative process associated with daily medical practice by housing patient files and data on its web-based platform”. Medfar’s product is MYLE (an acronym for “make your life easy”), which is a subscription-based service that can act as both a medical records and care management solution. Medfar currently serves nearly 7,000 Canadian physicians, who deliver 10 million consultations annually. With the expansion of virtual healthcare in the post-COVID world, it will be interesting to monitor future developments in this sector.
Author: Andrew Patel
Authors
Expertise
Insights
-
Technology
MaRS Announces New Cohort of Female Entrepreneurs for Cleantech Accelerator
The Toronto technology hub, MaRS, has sought to support female-led Canadian cleantech companies by teaming up with RBC to launch a 24-month cleantech accelerator program. The two-year program recruits… -
Technology
It’s an Autocado…Thanks!
Fast food giant Chipotle Mexican Grill is moving into the world of automation in two of its California locations. These locations have adopted an automated bowl-and-salad maker, as well as an… -
Capital Markets
Canadian Securities Administrators Further Extend Compliance Deadline in Interim Approach to Value-Referenced Crypto Assets
On September 26, 2024, the CSA provided a further update for crypto asset trading platforms (CTPs) that are registered, or that have provided a pre-registration undertaking (PRU), on the interim… -
Technology
Lockheed Martin to Acquire Terran Orbital
Lockheed Martin (“Lockheed”) has announced the signing of an agreement to acquire Terran Orbital (“Terran”) for $0.25 per share. The deal has an enterprise value $450 million and is set to close in… -
Technology
AT&T’s High-Tech Football Helmet is Set to Change the Game
The NCAA recently approved a helmet for quarterbacks who are deaf or hard of hearing, designed by AT&T in collaboration with Gallaudet University, for use in GU’s 2024 season.The first of its… -
Financial Services Regulatory
Summer’s Over – It’s Time to Consider Your RPAA Registration
Not only has the summer flown by, but Halloween is six weeks away. That means payment service providers (PSPs) have six weeks to prepare for the November 1st opening of the two-week window for…