South Carolina Research Authority’s investment affiliate, SC Launch Inc., has invested in Virtue Technologies Inc. The $250,000 investment will help the Chapin-based startup expand and continue improving post-acute delivery of medications, equipment, and visit management services to patients nationally.
Virtue Technologies became an SCRA Member Company in 2022 and an SC Launch Inc. Portfolio Company in December when it received this $250,000 investment.
Virtue Technologies is a cloud-based, mobile-friendly software provider committed to solving the logistical challenges of the highly fragmented durable medical equipment and pharmacy industries. The solutions strive to reduce cost and improve the revenue cycle by improving staff efficiency, removing waste, increasing patient satisfaction, and providing unparalleled visibility to provider operations.
“In an environment of shrinking reimbursements, growing audit risks, and persistent demand for information, our technology streamlines and removes friction in provider operations and patient experience,” said Virtue Technologies CEO Gibran Ameer, PharmD. “Having SCRA and SC Launch Inc. as partners allows us to further execute our vision of taking an agnostic, interoperable approach to healthcare technology solutions.”
“Growing companies that are using technology to streamline tedious processes is one of our core goals. But, when technology can simultaneously improve patient care, it’s an even more beneficial endeavor,” said SCRA Executive Director Bob Quinn. “We’re proud to support Virtue Technologies and look forward to their continued growth.”
Virtue technologies recently presented its solutions at the National Association of Health-System Pharmacists Clinical Meeting and Exhibition in Las Vegas.
Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and equity investments to selected South Carolina-based companies participating in the SC Launch program.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of academic startups. Second, SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. Third, SC Industry Solutions facilitates and funds technology advancements and partnerships with industry, startups, and academic institutions. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch Inc.