Westport private-equity investor Bluff Point Associates has acquired a stake in a rapidly growing suburban Philadelphia publisher of information software for pediatric electronic health records and practice management.
Details of Bluff Point’s multi-million-dollar stake in Connexin Software Inc., of Horsham, Pa., weren’t disclosed.
Bluff Point Managing Director Kevin P. Fahey will take a seat on Connexin’s board.
Fahey said in a statement Thursday that he was lured by Connexin’s “strong management, positive earnings, and great technology products with growth potential.”
Meantime, Connexin Fredrick R. Pytlak said his 15-year-old firm is scrambling to keep up with demand for its health-information technology spurred largely by federal requirements that physicians, hospitals and other care providers meet specific information-management and care benchmarks.
Connexin President Michael J. Matlack said its sales and training teams have doubled in size in the past year.
“Bluff Point’s investment will allow us to continue growing aggressively and increase the quality of services we provide as we help pediatric practices adopt new (electronic health records) technologies,” Matlack said.
