onFocus Healthcare Secures $3 Million in Series B Financing

NASHVILLE, Tenn., April 15 /PRNewswire/ -- onFocus Healthcare, Inc. (www.onfocushealthcare.com), the leading provider of web-based enterprise performance management solutions for the healthcare services marketplace, today announced it has secured $3 million in Series B financing led by Clayton Associates' FCA Venture Partners IV. Limestone Fund, Tri-Star Technology Fund, Solidus Company, NCN Angel Fund, Kestrel Asset Management and Heritage Group Holdings also participated in the round. Solidus led the company's Series A round, which also included Kestrel and Heritage.

A portion of the latest round of funding came from the Tennessee Small Business Company Investment Credit Act (TNInvestco), which was created last year to fund innovative Tennessee companies. Limestone and Tri-Star are two of the venture funds selected to participate in the program.

The company will use the financing to support ongoing sales and marketing of its onFocus|epm™ "Enterprise Performance Management" or EPM software, which is used by executive teams in hospitals and other healthcare settings to ensure accountability and consistently achieve critical business objectives across the organization. onFocus|epm is a one-of-a-kind web-based solution that allows healthcare leaders to integrate business intelligence data from any source with strategic goals, action plans, progress tracking and management accountability to ensure targeted results at all levels of the organization.

"We are honored to have the support of our new Series B investors, combined with the renewed commitments from our existing investors," said Steven Mason, Jr., onFocus co-founder, president and CEO. "This investment will allow us to accelerate our growth strategy and secure our position as the market leader in the rapidly expanding healthcare performance management software market."

Ron Galbraith, onFocus board chairman and co-founder, cites the unprecedented challenges faced by today's  healthcare leaders: "While most hospitals have made significant investments in emergency room technology, electronic medical records and business intelligence, even the most "data rich" organizations lack automated tools to help them translate data into action and ensure strategic and operational results." onFocus|epm creates a seamless "closed-loop" performance optimization process that links key clinical, financial and operational metrics from internal data sources with critical organizational objectives and action plans to support behavior change that improves accountability and enhances quality and safety.

"onFocus has created a unique platform that supports a healthcare organization's ability to quickly and effectively execute and adjust strategy and operational plans based on real-time information," said Matt King, managing partner at Clayton Associates, and a member of onFocus' board of directors. "The additional capital provided in this round will allow the company to maintain its competitive advantage as they build a larger presence in this growing market."

Headquartered in Brentwood, Tenn., onFocus Healthcare, Inc. serves a broad cross-section of healthcare organizations including large for-profit systems, community and non-profit hospitals and large academic medical centers. onFocus Healthcare, Inc. was launched in 2008 to create the first healthcare-specific enterprise performance management system. For more information, please call 615.871.4321 or visit us online at www.onfocushealthcare.com.

SOURCE onFocus Healthcare, Inc.