Winnipeg, Manitoba -- Momentum Healthware, the Canadian leader in assessment-based clinical software, has secured a $1.75MM venture loan from MM Venture Partners. Momentum Healthware is a software solutions provider specialized in the design and delivery of seamless information technology solutions for the acute and long term care segments of the health care industry. Momentum sells into the US and Canadian markets. Key customers in the US include Beverly Enterprises, Inc. and Extendicare. Key strategic partners in the US include Virtual Care Provider and SYSCO Corporation.
"We believe Momentum is well positioned for strong growth. Their management team is sound, their technology is differentiated in the marketplace and they have recently signed on a number of marquee US customers," said Ron Patterson, Partner, MM Venture Partners. "The Company is also riding favourable trends in the US Long Term Care market where recent legislation is making sophisticated Electronic Health Records a must have item".
Rick Workman, Chief Operating Officer of Momentum Healthware, said, "We are thrilled about our new partnership with MM Venture Partners. They are seasoned investors with a deep reach into the US marketplace. This financing will provide further working capital to grow our business"About Momentum
Momentum Healthware is a Microsoft Certified Partner, specializing in the development, provision, integration and support of seamless information technology systems for the health care industry. Its products are in use in hundreds of facilities across the continuum of care. Momentum's clients include acute care, long term care, and assisted living facilities as well as home care providers. Because of the powerful and scalable technologies Momentum offers, its clientele list ranges from small single facilities to regional health authorities and large chains. For further information please visit http://www.momentumhealthware.com/
.About MM Venture Partners
MM Venture Partners is a privately held, venture-debt fund that focuses exclusively on private technology companies in Canada. MMVP focuses specifically on Canadian information technology and biotechnology companies. For further information please visit http://www.mmvp.com/