Connexin Software, Inc.

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Connexin Software, Inc. - overview

Established

1992

Location

Fort Washington, PA, US

Primary Industry

Software

About

Connexin Software, Inc. specializes in Electronic Health Record (EHR) solutions, providing tailored software for pediatric practices to optimize patient care and streamline operational workflows. Founded in 1992 in Fort Washington, US, Connexin Software, Inc. offers a specialized EHR platform, OP (Office Practicum), exclusively designed for pediatric practices.


The company was acquired by Pamlico Capital from Bluff Point Associates in February 2018. The founders are Greg Anderson and Mike Matlack, with Mike Ressel serving as CEO. Connexin Software has completed a total of 3 funding deals, raising a total of USD 6. 50 mn, with the most recent funding round being a Growth round in which Bluff Point Associates was an investor.


Connexin Software, Inc. offers a specialized Electronic Health Record (EHR) platform called OP (Office Practicum), designed exclusively for pediatric practices. The platform includes a comprehensive suite of tools such as pediatric visit templates, vaccine management systems, growth charts, and behavioral health resources, all tailored to meet the unique needs of pediatricians. OP’s advanced features aim to streamline workflows, enhance patient care, and improve operational efficiency for healthcare providers.


The company serves over 6,500 pediatricians, impacting the care of approximately 16 million children across 48 states in the United States. This focused approach addresses the specific challenges faced by pediatricians, distinguishing it from generic EHR solutions that cater primarily to adult patients. Connexin Software, Inc. primarily generates revenue through subscription-based models for its EHR services, with clients including pediatric practices and healthcare organizations.


The business model typically involves annual licensing agreements, where clients pay for access to the OP platform and its various functionalities. Transactions may include additional fees for premium features such as pediatric revenue cycle management services and tailored practice marketing solutions. The revenue structure is fortified by the company’s commitment to compliance with industry standards, such as ONC certification, which enhances their credibility in the marketplace. While specific pricing plans for individual services are proprietary, the comprehensive nature of OP’s offerings positions it as a valuable solution for pediatric healthcare providers aiming to optimize their practice management and patient care.


Connexin Software, Inc. is focused on expanding its product offerings and market reach. The company intends to introduce new features within its OP platform that enhance functionality for pediatric practices and plans to enter new geographic markets. Specific regions targeted for expansion include the Midwest and Southeast United States by the end of 2024.


The recent Growth funding round of USD 6. 50 mn will support these initiatives, including product development and market penetration efforts.


Current Investors

Pamlico Capital

Primary Industry

Software

Sub Industries

Healthcare IT, Medical Software, Analytics & Performance Software, Accounting/Finance Software

Website

www.officepracticum.com

Company Stage

Mature

Total Amount Raised

Subscriber access only

Connexin Software, Inc. - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Secondary BuyoutCompletedConnexin Software, Inc.-
GrowthCompletedConnexin Software, Inc.-

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