Edison’s most recent investment, in a company called Clinverse, is a textbook example of what the company looks for in a deal.
Earlier this month, Edison announced it bought a $5 million stake in the Durham, North Carolina-based software company. Like many of Edison’s companies, Clinverse exists to support the pharmaceutical industry.
Its software is designed to automate financial transactions for clinical trials, a large part of the biotech industry. Clinverse is also an established company that is looking to expand its presence in the marketplace.
“Edison’s expertise and long-tenured record of success building market leaders in both healthcare and financial technology solidified them as the right strategic partner,” said Denis Connaghan, Clinverse CEO, in a statement. “During this critical next stage in our growth, access to the firm’s advice, network and education programs through the Edison Edge platform will prove invaluable to me and our management team.”
Including Clinverse, Edison has invested in 24 healthcare IT companies, including TrialScope, Lincor, PHX, SmartAnalyst, ClearPoint, and iContracts.