BOCA RATON, FL – Watermark Medical Inc., a medical products and services company currently servicing the sleep-disordered breathing market, has closed a $15 million equity round from CA Technologies (Nasdaq:CA).
Watermark Medical’s current technology enables medical practitioners to manage, aggregate and access critical diagnostic and historical patient information.
Sean Heyniger, CEO of Watermark Medical, said, “CA Technologies is an expert in managing data in virtual and cloud environments, and this investment will further the development of our advanced, web-based technology platform.”
As part of the investment, CA Technologies will hold a minority stake in Watermark Medical and two seats on Watermark’s board. It is CA’s first investment in the SaaS-based healthcare cloud market.
We noticed that SaaS/cloud companies of all sorts continue to pull funding on an almost daily basis. Investors and the tech community generally see the ability to offer clients a subscription model that requires minimal up front costs, does not disrupt operations for long installation periods and provides sellers with recurring income as attractive.
In Watermark’s case, it is also playing in two other areas investors like, medical devices and the burgeoning medical records space, which benefits from a federal push to move health care records from paper to digital.
John Sculley, co-chairman of Watermark’s board said, As an emerging leader in the medical cloud computing arena, Watermark is on track to expand the technological capabilities of traditional primary care physician (PCP) offices with our comprehensive cloud platform services. With Electronic Medical Records, the growing tele-health industry and a new focus on preventative healthcare, there is more opportunity than ever for technology organizations such as CA Technologies to help drive innovation in the area of data management, aggregation and delivery.”
Watermark Medical already has seen success with its premiere product offering, the Watermark ARES device. The Watermark ARES (Apnea Risk Evaluation System) is the first FDA-cleared, CMS approved, in-home, wire-free, ambulatory sleep test device that provides medical practitioners with a highly accurate, lower-cost tool to diagnose patients who may be suffering from Obstructive Sleep Apnea.
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Tags: CA Technologies, cloud comuting, financing, Florida, Healthcare, SaaS, sleep diagnostic, Watermark Medical
