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ChartSpan Medical Technologies Inc. completes $16M capital raise

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Greenville-based ChartSpan Medical Technologies Inc. has completed a $16 million venture capital raise which the company said will “be used to grow ChartSpan’s footprint past the Appalachian region.”

The capital raise was led by Cypress Growth Capital and included some of ChartSpan’s current investors, according to a news release.

“ChartSpan offers compelling value to physicians and patients alike,” said Ed Mello, managing director of Cypress Growth Capital, in the release. “The combination of attentive, responsive service and easy-to-use technology that does not disrupt the practice's established workflow explains why ChartSpan is one of the fastest growing companies in its market. They have truly set themselves apart.”

According to ChartSpan, it plans to create an additional 300 new jobs over the next 18 months. This will be on top of the 200 jobs the company said it has created in the last 15 months. Most of the jobs are for nurses, medical assistants, licensed practical nurses and certified nursing assistants.

The company specializes in patient care coordination services to health systems and ambulatory practices. According to ChartSpan, its out-of-office health care services are used by health care providers and help “improve outcomes for chronically ill patients.”

“It’s extremely satisfying to partner with Cypress in raising this $16 million round,” said Patrick Carter, co-founder and chief medical officer of ChartSpan, in the release. “Their belief in our mission ensures our ability to provide critical chronic care management services to hundreds of thousands of patients across the United States.”

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