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AUSTIN, TX March 29, 2006 Medical Present Value, Inc. (MPV), a leading provider of financial tools and expert services to manage payor contracts and audit reimbursement, today announced an equity investment of $14 million. The funding announcement follows a period of strong sales growth with the company doubling sales revenue in 2005. Investor participants include Rho Ventures, CenterPoint Ventures, Care Capital, Star Ventures and Techxas Ventures. The new financing will allow MPV to accelerate business growth, penetrate new markets and aggressively expand its product offerings to current and prospective clients. "This additional investment represents our commitment to the company and its efforts to improve payor contract performance for physician medical groups across the United States," said Cam McMartin of CenterPoint Ventures, MPV's chairman of the board. "By defining the terms of client payor contracts into an electronic database and valuing their claims against these terms, MPV is helping medical groups to streamline the contracting and reimbursement process and bring transparency to the important business of healthcare." About MPV MPV provides medical groups with financial tools and expert consultative services to monitor payor performance, verify reimbursement, reduce registration, coding and posting errors, negotiate better contracts and improve overall cash flow. Serving more than 17,000 physicians nationwide, MPV gives clients better control of their payor contracts, improves workflow efficiency and strengthens the bottom line. For more information, please visit www.mpv.com. Contact: Medical Present Value, Inc. (MPV) Merideth Fulton 512.439.0201 mfulton@mpv.com |
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Copyright ©2007 Rho Capital Partners, Inc.