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News and Information Article
ROSELAND, N.J., March 6 // -- NJTC Venture Fund, an $80M early
stage venture capital fund, announces its investment in Philadelphia-based
InstaMed Communications. InstaMed is addressing the present inefficiencies in
the healthcare industrys payment process. The company offers real-time
processing of healthcare and financial transactions, by offering a suite of
products and services that integrate into existing systems and workflow for
real-time, direct connectivity to payers and banks.
Jim Gunton, General Partner of NJTC Venture Fund stated, "We are very
excited about InstaMed and its management teams knowledge of and
relationships in this industry. Payment processing is an issue at the
forefront of healthcare providers and payers. We believe InstaMed is
well-positioned to capitalize on this trend and will become the industry
standard. The company provides a commercial-grade, real-time solution to the
leaders in the industry while offering a compelling ROI. We are pleased to be
able to provide our expertise and financial support to such a unique and
well-needed technology."
Bill Marvin, President of InstaMed stated, "NJTC Venture Fund has a strong
network and proven track record of fostering growth and increasing shareholder
value for technology companies. Their success and experience in the Consumer
Directed Healthcare and financial services arenas is very appealing to us. We
welcome their partnership as we accelerate our marketplace adoption and
deliver a new business model to a rapidly changing industry."
About NJTC Venture Fund: http://www.njtcvc.com
NJTC Venture Fund is an $80M early stage venture capital fund investing in
promising companies located in the New Jersey region. Industries of interest
include communications, energy, information technology, healthcare/life
sciences, and materials. NJTC Venture Fund will invest $250K - $5M per
company and supports its portfolio with an unparalleled network of local,
active partners and advisors. NJTC Venture Fund is actively seeking new
investments in early stage companies.
About InstaMed: http://www.instamed.com
InstaMed is a real-time gateway and processor of healthcare and financial
transactions, offering products and services that integrate into existing
systems and workflow for real-time, direct connectivity to payers and banks.
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