For all of the good things happening in the Portland startup scene, there’s one area where we’re clearly still maturing: successful exits which result in capital reinvested in the startup community.
But we’re beginning to see glimmers of hope. Like Nitin Khanna, CEO of MergerTech who—following a successful exit from Saber in 2007—has begun to invest capital in a number of early stage startups here in Portland.
And now, MergerTech has taken it to the next level. By establishing a $50 million fund focused on healthcare information technology. It’s called MergerTech Capital.
The MergerTech Capital fund’s main targets for investment will be companies focused on the enablement of personalized medicine through the use of technology. The fund will invest in IT infrastructure associated with healthcare, including cloud services, data security, consumer Internet, mobile applications, and managed IT. Additionally, the fund will invest in healthcare services providers that leverage technology as a means to reduce cost, scale or delivery gaps.
Investments by the fund will be in early and growth stage US based companies. MergerTech Capital recognizes the exciting opportunity in the rapidly developing healthcare information technology and services market, estimated to be worth $40 billion with forecasted growth over the next 5-10 years of 24%. Technology will continue to have an increasing presence in all aspects of healthcare services, as regulatory and scientific developments facilitate more wide-scale implementation of IT, there will be greater opportunities for healthcare IT firms to commercialize products and services.
And given that Portland remains a hot bed of healthcare IT with companies like Kryptiq, Ignis, and OHSU, among others, it’s highly likely that some of that MergerTech Capital money will wind up being invested right here in our backyard.