A Medical Device Daily

TC3 Health (Costa Mesa, California), a company that helps healthcare payers better manage their claims costs through technology and data analytics, reported securing $10 million in new funding led by JMI Equity, a private equity firm. Ticonderoga Capital, an existing institutional investor in TC3, also participated in the round.

TC3 said it will use the new funds to enhance its loss control technologies and expand its sales capabilities to drive growth. As part of the investment, Paul Barber, a general partner at JMI, has joined TC3's board.

TC3 (for Total Claims Capture & Control) electronically integrates healthcare payers' internal claims management systems with external loss control programs to help them better manage their claims costs. TC3, through its integrated loss control technologies – Fraud & Abuse Prevention Suite, Repricing Optimizer Suite and Decision Support Systems – works to reduce overall paid medical claims by 5% to 10% annually.

“As healthcare costs continue to escalate, U.S. healthcare insurers overpay more than $250 billion in medical claims each year,” said Daniel Day, president/CEO of TC3.

Using claims management technologies, TC3 targets the $250 billion in healthcare claims overpayments to validate payment integrity and maximize savings for healthcare payers. TC3 says it enables payers to take advantage of state-of-the-art loss control technologies through a single connectivity source to prevent claims errors on a pre-payment basis.

Vital Images (Minneapolis), a provider of visualization and analysis solutions, reported that it has filed a shelf registration statement with the Securities and Exchange Commission which, when effective, will permit the company to sell up to $150 million of equity or debt securities from time to time.

“This shelf registration will provide us with flexibility to obtain financing on a prompt basis as market conditions allow to support our growth by pursuing opportunities that may present themselves in the future, such as new technologies or applications for advanced visualization, or geographic expansion of our distribution channels,” said Jay Miller, Vital Images' president/CEO.

The company said that proceeds from the sale of any securities will most likely be used for general corporate purposes, including expanding sales and marketing and customer service and training efforts internationally and investing in the company's product development resources. Vital Images said it may also use the net proceeds from any offering to acquire or invest in businesses, products and technologies that are complementary to its current products, can enhance its market coverage or technical capabilities, or offer growth opportunities.

Vital Images is a provider of advanced visualization and analysis software solutions. The company's technology gives radiologists, cardiologists, oncologists and other medical specialists productivity and communications tools that can be accessed throughout the enterprise and via the Web for use in the day- to-day practice of medicine.