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Miami, FL – January 15, 2008 – Avisena, a technology leader in providing front-office software and outsourced back-office administration to physicians and multi-physician clinics, announces the completion of a US $2.5 million venture loan from Toronto-based MMV Financial. Through a unique combination of internet-based systems and extensive back-office processing capabilities the Company has grown to serve over 600 doctors in eight states that collectively have over $500 million in annual billings. The Company provides scheduling, billing and collection services using proprietary software and services that allow physicians to focus on delivering patient care while improving their administration. Avisena is privately held.
"Avisena will use this financing to invest in the Company’s continued expansion and product development efforts,” said Albert Santalo, Chief Executive Officer of Avisena. “We are pleased to have MMV Financial as a new financial partner. They quickly understood the potential of our business and were responsive to our working capital needs.”
“Avisena represents a unique opportunity for MMV Financial in the rapidly expanding healthcare administration outsourcing industry,” said Greg Dimmer, Senior Vice President, MMV Financial Inc. “The Company’s impressive leadership team, superior technology and effective sales, marketing and customer relationship teams position it for continued growth and success.”
About Avisena
Headquartered in Miami, Florida, Avisena is a technology-enabled revenue cycle management company that helps medical practices collect more, spend less and live better. Avisena currently serves a growing base of more than 250 medical practices throughout the U.S.. For more information visit: http://www.avisena.com/
About MMV Financial Inc.
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Quebec, HSBC, NewStar Financial Inc, and Wells Fargo Company. For more information visit: www.mmvf.com
Contacts:
Greg Dimmer
Senior Vice President
MMV Financial
(416) 977-9718
gdimmer@mmvf.com
Albert Santalo
CEO
Avisena
(305) 446-8599
asantalo@avisena.com