Virtue Technologies Secures Strategic Investment from Claritas Capital to Enhance Post-Acute Care Solutions

On November 8, 2019, VCBeat (WeChat ID: vcbeat) learned that Virtue Technologies, a leading provider of medical technology solutions, announced it had received investment from the private equity firm Claritas Capital. The specific amount of the investment was not disclosed.

Virtue Technologies, a startup founded as a joint venture between TwelveStone Health Partners and VirtueRN, is a cloud-based software provider that offers post-acute care technology solutions to healthcare institutions. The company is dedicated to addressing the high fragmentation in the pharmaceutical market by developing health technology solutions for healthcare professionals and patients who require them in acute care settings. Its solutions streamline clinical workflows and enhance communication throughout the post-acute care continuum.

VirtueScript is a web-based, mobile-friendly application workflow management and logistics solution platform under Virtue Technologies. The VirtueScript system integrates with multiple pharmacy management systems, thereby eliminating duplicate data entry and transcription errors. Furthermore, through seamless integration with ShipStation, users gain access to one-stop shipping services from all major carriers. Via the application interface, pharmacy staff and patients can track the status of all scheduled delivery orders. When shipments leave the pharmacy, VirtueScript keeps patients informed with regular updates via text message, secure email, or the mobile app.

As evidenced, VirtueScript not only enhances employee productivity and patient satisfaction but also provides unparalleled visibility into pharmacy operations, reduces costs, and improves the pharmacy revenue cycle. In an environment characterized by declining reimbursements, increasing audit risks, and sustained demand from patients and caregivers, Virtue Technologies delivers solutions that meet market needs.

Gibran Ameer, CEO of Virtue Technologies, stated, “The delivery of post-acute care services is often challenging. Technology serves as a means to streamline business processes, and our solution does exactly that. This will have a positive impact on operational efficiency, costs, and revenue cycles, ultimately improving the patient experience.”

Theresa Sexton, Partner at Claritas Capital, stated, “What sets Virtue Technologies apart is its successful development of innovative technological solutions, grounded in the founders’ nuanced and profound understanding of the complexities involved in delivering patient care within the post-acute care market. We are delighted to support the Virtue Technologies team, as their solutions enhance the quality of care, boost productivity, and address gaps in an otherwise fragmented market.”

Gibran Ameer stated, “The market’s response to Virtue Technologies has been highly encouraging. Furthermore, we are deeply gratified by the trust placed in us by Claritas Capital.”

Claritas Capital is a private equity firm founded in 2002 and headquartered in Nashville. Since its inception, Claritas Capital has been actively investing in the healthcare sector. Meanwhile, the firm also provides flexible capital solutions to companies in healthcare, technology, and business services, as well as to real estate projects. To date, the company has made equity investments in more than 50 portfolio companies, which have collectively raised over $6 billion in capital.

(Compiled by Wang Fang)