A new $32.6 million investment will allow Austin-based HNI Healthcare to speed up its expansion plans.
The physician practice management company received the funding from New York-based Bison Capital and Austin-based Spindletop Capital.
Founded in 2002 has , HNI develops technology that it says improves hospital efficiencies and economic performance while improving patient care.
The company changed its name from Hospitalists Now to HNI Healthcare in 2015 to reflect its expansion into critical care, emergency medicine and anesthesia.
HNI’s flagship product is VitalSigns, a software suite that provides workflow management, communication and real-time analytics for clinical and operational decision making. The company also offers consulting, advisory and management services.
Michael Gonzales, HNI Healthcare CEO, said the financing “will enable us to invest heavily in the continued evolution of our proprietary technology, VitalSigns, while we continue to expand our geographic footprint and participation in alternative payment models.”
The new investment brings the total amount raised by HNI to $52.8 million, the company said.
Bison Capital partner Andreas Hildebrand said the company “has developed an outstanding reputation for helping hospitals improve both their clinical and financial performance. We believe HNI’s proprietary technology solution has positioned it for continued rapid growth.”
The HNI deal is at least the fourth investment in an Austin technology company this month. Shelfbucks, which lets retailers analyze the performance of in-store displays, received $9 million in new funding. TrendKite, which helps clients gauge the effectiveness of their public relations, received $11 million.
Meanwhile, WP Engine, which provides hosting for WordPress-built websites, announced it raised $250 million in private equity to fuel its growth.
WP Engine, which received the funding from Silver Lake, said it will use the money to accelerate development of its digital platform and make an international expansion push.
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