Healthcare technology firm to create 30 jobs after €7.3m US investment
The money raised will be used to help relaunch the company in the US. Its corporate headquarters will move to Nashville, Tennessee but it will maintain research, product development, customer support and international sales at its facilities at Cork and Dublin.
Lincor chief executive Richard Cooke said the company will use the investment for product development and expanding into the US market.
“This financing will enable us to aggressively expand our market presence both in the US and globally with an accelerated programme of product development. We view this investment by Edison Ventures, with its prior experience and success with other leading healthcare information technology companies, as a fantastic endorsement of our products, track record and management team.”
Lincor specialises in equipment that allows nurses and doctors access medical records, x-rays and scans through a secure bedside platform. The system also provides multimedia entertainment, interactive education and communications services for the patient.
Lincor’s products are currently deployed in over 120 hospitals around the world.
Edison Ventures Lenard Marcus said the use of the technology has resulted in improved patient outcome. “Lincor’s technology acts as the primary point of information integration and distribution for patients. Hospitals utilising the technology have demonstrated increased physician-patient interactions, lower patient re-admissions, and an improvement in clinical outcomes,” he said.
A portion of the €7.3m will provide liquidity for shareholders including Enterprise Ireland. “The investment allows us to provide a return to our original investors, such as Enterprise Ireland, who have been so supportive over the years and have been instrumental in ensuring we got to this point,” said Mr Cooke.
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