Venture capital firms contributed $1.4 billion through 146 deals in healthcare IT companies internationally in the 1st quarter of 2016, a report by Mercom Capital Group stated today.
This is higher by 27% from the October-December 2015 quarter when $1.1 billion was pumped in. It was also up 74% compared to the same quarter of previous year.
Total corporate funding raised in the sector involving VC, debt and public market financing for January-March 2016 came to $1.5 billion, Mercom stated.
"The Health IT sector is off to an impressive start this year with significant funding activity in the first quarter led by wearables, data analytics and telemedicine," Mercom Capital Group CEO and co-founder Raj Prabhu said.
Data analytics and telemedicine companies reached an important milestone, each crossing $1 billion in funding raised to date, he added.
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