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Summit Partners invests $21m in elderly health management company COMS

19 Jun 2013

elderly_bowls_170sqGrowth equity firm Summit Partners has made a $21m minority investment in healthcare management software provider COMS Interactive.

COMS, which makes software to manage health and disease profiles of elderly people requiring post-acute care, said the funding would be used to expand the company and marketing its products.

The company added that some of the capital would be help existing investors cash out. Firms previously backing the business include Zapis Capital, Next Sparc and Portal Capital.

Summit managing director Mark deLaar, who will join the COMS board of directors, said, “COMS delivers an innovative SaaS offering that provides nursing homes and assisted living facilities with an affordable platform to better manage and improve the quality of care.

“We are impressed by the strong ROI guarantee that COMS is able to demonstrate to its clients.”

Last month Summit led a $20m financing round for fibre optic device maker Acacia Communications alongside a trio of existing venture investors.

Matrix Partners re-upped its investment just over a week after closing its $450m tenth fund, as did Commonwealth Capital Ventures and Egan Managed Capital.

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