Calsoft''s healthcare subsidiary AHN expands

  

CHENNAI: California Software Co Ltd (Calsoft) has announced that its US subsidiary American HealthNet Inc. (AHN) had received an additional equity funding of $ 1 million from a venture capital firm, Andorra Ventures Corporation (AVC) to meet its expansion needs.

AVC, an angel investment and venture capital company headquartered in Hong Kong, will hold approximately 18 per cent of the expanded capital of AHN.

Simultaneously Calsoft group’s stake in AHN also has increased now to 52.81 per cent through stock buyouts from existing shareholders. Calsoft had acquired a majority stake of 51 per cent in AHN in February 2005 through its wholly-owned US subsidiary CSWL Inc.

According to S Santhosh, managing director, Calsoft, “These changes are in line with Calsoft’s overall strategy and this funding move reinforces healthcare as one of our core focus areas. With a strong team of committed professionals both in India and US, we look forward to emerging as one of the niche players in the healthcare software arena”.

AHN has bagged prestigious contracts recently from Mountain Community Medical Services, California and Winner Regional Healthcare Center, South Dakota, to offer its Clarus suite of products. Calsoft expects that the expansion of AHN will add to the company’s overall growth and contribute to its consolidated profits before the next fiscal.

AHN’s Clarus suite of products with its core enterprise master patient index features a full complement of clinical applications – from electronic medical records to order management – and is fully integrated with all financial applications. The system shares data between hospitals, clinics, labs, and pharmacies.

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