15 Nov Connexin Software, Inc. Receives Strategic Investment from Bluff Point Associates; Deal Will Accelerate Growth and Leadership Position of Pediatric EHR Software Provider
Connexin Software, Inc., publisher of the industry-leading Office Practicum® pediatric electronic health records (EHR/EMR) and practice management (PM) system, today announced that it has received a multimillion dollar strategic investment from Bluff Point Associates, a Connecticut-based private equity firm.
“Connexin has always enjoyed excellent recognition and growth in the pediatric sector, but ARRA (American Recovery & Reinvestment Act) legislation and Meaningful Use initiatives have spurred physician interest in EHR adoption beyond all our prior fifteen years of experience,” said Fredrick R. Pytlak, Connexin CEO. “We look forward to building on our market leadership momentum and are pleased to have Bluff Point on board for our next stage of growth.”
As part of the transaction, Bluff Point Managing Director Kevin P. Fahey will join the Connexin Board of Directors. “Bluff Point looks for several things when we add a company to our portfolio: strong management, positive earnings, and great technology products with growth potential,” he said. “Connexin has all of these attributes. We look forward to working with Fred and his team to build on the company’s success, further develop their offerings, and grow the business from its well established core competencies.”
Michael J. Matlack, Connexin President and COO, appreciates that vote of confidence. “Our training and support teams have more than doubled over the past year,” he said. “Bluff Point’s investment will allow us to continue growing aggressively and increase the quality of services we provide as we help pediatric practices adopt new EHR technologies.”
Health information technology standards are still evolving, which keeps the research and development team busy. Gregory H. Anderson, Connexin CIO, who led the company’s ONC Meaningful Use Certification and serves on CDC and other industry workgroups, said HIT is still in its infancy. “New immunization registries and health information exchanges are coming online constantly. Recent adopters are demanding enhanced usability and a variety of deployment models. The additional resources of the Bluff Point investment will help us extend our competitive advantage in all of those areas.”
About Connexin Software, Inc.
Connexin Software, Inc. is the leading provider of electronic medical records and practice management systems for use in pediatric clinical settings. Since 1995, its Office Practicum product has provided innovative solutions to hundreds of medical practices in over 40 states and throughout the Caribbean, ranging from solo providers to hospital-based clinics. The privately held company maintains primary offices in New York City, suburban Philadelphia, and central California. For more information visit www.officepracticum.com.
About Bluff Point Associates
Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential.