Modernizing Medicine Completes $12 Million Capital Raise

Modernizing Medicine, the creator of the Electronic Medical Assistant (EMA), a cloud-based specialty-specific EMR application, completed a $12 million capital raise, with a combination of equity capital and a senior bank debt facility. The company plans to use the funding to, among other things, accelerate growth in existing markets, launch into new specialty-specific verticals, and to continue ongoing product innovation. Modernizing Medicine provides specialty-specific offerings for the dermatology, ophthalmology, optometry, and plastic surgery markets. Physicians in the plastics, orthopedics, and ENT markets also participated in the offering as investors and look forward to using EMA when it launches in their specialty-specific verticals, according to a statement. Modernizing Medicine plans to launch EMA for the orthopedic and ENT markets in 2013.