Net.Orange Secures Growth Equity Financing, Hires Healthcare Leader to Support Growth

DALLAS--(BUSINESS WIRE)--Net.Orange today announced a significant growth equity capital injection from California Capital Equity, led by Dr. Patrick Soon Shiong, to support the company's aggressive growth. Additionally, industry veteran Kevin Freeman was named executive vice president of business development and marketing to lead the company's growth initiatives.

"Significant financial issues that have challenged providers for years, and quality of care opportunities have emerged from U.S. healthcare reform," said Vasu Rangadass, chief executive officer, Net.Orange. "This infusion of growth equity capital allows us to elevate our offering to the next level, developing dynamic solutions that help healthcare organizations accumulate data from diverse sources, assess outcomes from treatments and associated expenses involved with the delivery of care."

As executive vice president, Freeman will manage all business development, channel partnerships, strategic accounts, sales and marketing activities for Net.Orange. His well-rounded experience in healthcare technology includes senior management positions with MedAssets, Accuro Healthcare Solutions and Innovative Managed Care Systems.

"Net.Orange connects the evolution of healthcare analytics to the resolution of healthcare reform, providing solutions that transform quality of patient care and positively impact financial improvement for providers," said Freeman.

According to Rangadass, Freeman has demonstrated success in partnering with clients to address the myriad of challenges healthcare faces today and in the future.

About Net.Orange

Net.Orange simplifies an increasingly complex healthcare system through robust solutions designed to be visually intuitive, rapidly deployed, and easily managed. Net.Orange's innovative cOS (Clinical Operating System) solutions empower all constituents of the healthcare industry by leveraging an extraordinary suite of Web-based applications and connectors to existing systems. The company is committed to the objective of helping customers provide superior quality patient care through better decision making and improved productivity. Net.Orange is headquartered in Irving, Texas. For more information, visit www.ndorange.com.

About Dr. Patrick Soon Shiong

Dr. Soon-Shiong is a co-inventor of more than 50 issued U.S. patents, has published more than 100 scientific papers, and developed and sold two multi-billion dollar pharmaceutical companies, American Pharma Partners (APP) and Abraxis Bioscience (ABII). APP was responsible for the only safe supply of Heparin in the United States in 2008.

Since 2006, Dr. Soon-Shiong has turned his attention to transforming healthcare by establishing an integrated health information platform and founded the National Coalition for Health Integration (NCHI) to create a national health network for the secure, national sharing of biomedical information with the goal of improving health for individuals. He has also founded the Institute for Advanced Health, which will provide high-speed computing capabilities for human genotyping to target specific cancer treatments, as well as technologies for the better management of chronic disease.

 

Contacts

Net.Orange
Donna Lemmons, 972-550-0568 x1057
mobile 214-215-3276
[email protected]

 

Suggested Articles

The profit margins and management of Community Health Group raise questions about oversight of managed care insurers.

Financial experts are warning practices about the pitfalls of promoting medical credit cards to their patients.

A proposed rule issued by HHS on Tuesday would expand short-term coverage, a move Seema Verma said will have "virtually no impact" on ACA premiums.