NASHVILLE, Tenn., Jan. 8, 2018 /PRNewswire/ -- Concert Genetics, Inc., announced today it has completed a growth capital financing round with a structured facility led by Deerfield Management.
The funds will be deployed to support Concert's mission of advancing precision medicine by providing the digital infrastructure for reliable and efficient management of genetic testing.
"The Concert team has assembled a remarkable combination of market-leading customers, proprietary data, and a software platform that connects stakeholders across the precision medicine landscape," said Adam Grossman, Partner at Deerfield Management. "We are pleased to provide the capital Concert needs to expand its offering and to increase its impact in the industry."
Concert's software platform is used by thousands of clinicians and leading hospitals nationwide to navigate the cost and complexity of genetic test selection, ordering, and results retrieval. The company also helps leading health insurers implement genetic testing and precision medicine strategies. Future releases of Concert's platform will enable greater connectivity between providers, laboratories, and health insurers.
"With domain knowledge, expansive vision and broad reach, Deerfield is an ideal partner," said Rob Metcalf, CEO of Concert Genetics. "This raise will not only help enhance our product offerings, but also support connectivity across the broader genetic health information network."
In 2017, Concert released Connecting the Genetic Health Information Network, which outlines how an effective information network can enable the delivery of precision medicine at scale. The paper can be downloaded at: https://www.concertgenetics.com/network.
About Concert Genetics
Concert Genetics is a technology and managed services company that advances precision medicine by providing the digital infrastructure for reliable and efficient management of genetic testing. Concert's market-leading genetic test order management platform leverages a proprietary database of the U.S. clinical genetic testing market – today more than 75,000 testing products – and genetic testing claims from more than 100 million lives. Learn more at www.ConcertGenetics.com.
SOURCE Concert Genetics