Health IT firm Family Health Network is bolstering its software firepower with a deal that brings the company key patents on search and other Internet technologies along with a former BellSouth executive steeped in the telecommunications business.
Family Health, based in Research Triangle Park, North Carolina, did not disclose financial terms of its acquisition of the assets from DCS Health. CEO Harry Bailes would only say that it was an equity transaction.
But in the deal with Atlanta-based DCS, Bailes said his company gains not only the technologies and telecom connections of the company, it also gets a link to Atlanta where Family Health hopes to build connections with the healthcare, telecom and investment communities. Family Health has raised more than $600,000 in a $1 million series A round, and as the company integrates DCS’ technologies into its offerings, it will look ahead to another financing round for expansion.