In February 2008, Portico Systems Inc., a “health plan software solution” provider, announced that it had finalized its recent business deal with Edison Venture Fund. The latter along with Safeguard Scientific Inc. will invest 7.7 million dollars in Portico. Edison Venture Fund is basically a venture capital firm.
However, this deal will enable Portico to expand its businesses globally. In February 2008, Portico Systems Inc. brought their recent business deal in front of the public. Edison Venture Fund along with Safeguard Scientifics Inc., previously known as Lancaster Corporation, will invest 7.7 million dollars in Portico.
Portico Systems Inc. develops software solutions regarding health plans for to increase the capabilities of the Provider Network Management. It is famous for its modular platform, named as “Portico Provider Platform”, which makes the functions of provider network management easy.
Portico’s portfolio consists of some big names like, Horizon Blue Cross Blue Shield, CareFirst Blue Cross Blue Shield etc. Safeguard Scientifics Inc. is situated in Philadelphia. It mainly specializes in Software as a Service, Internet based businesses and technology-enabled services. It is a partner company of Portico.
Edison Venture Fund was founded in 1986. It invests mainly in software businesses. The company’s investment ranges between 5 million to 10 million dollars depending upon the present state of the business. It provides capital to expand as well as finances management buyouts and the secondary stock purchases. The company’s investment experts are based in West Chester, Philadelphia, New York. Edison mainly invests in software, health care and communications sector. Its investment portfolio consists of some big companies like, MathSoft, Best Software, Visual Networks, Dendrite, Princeton Financial, and Gain Capital etc. The company’s current capital amount reaches upto 550 million dollars.
This deal will help Portico Systems Inc. to increase its sales. The company will also be able to spend more on research and development.