WebPT, a Phoenix-based software developer focused on the physical therapy market, has purchased Health Data Solutions in an effort to bolster its growing billing software.
WebPT, a Web-based electronic medical records system (EMR) for physical therapists, today announces it has closed a Series A funding round totaling $1 million in private equity funding. The company has very quickly become the fastest-growing Web-based documentation software now used by more than 5,000 physical therapists in just three years. This infusion of capital was raised to help the company swiftly expand its team in the areas of product development, sales and marketing, and to build out infrastructure to support its growth. WebPT presented the round to experienced investors in Arizona. The deal was closed this week with Canal Partners, led by JDA Software founder and chairman Jim Armstrong, and successful entrepreneur and investor Todd Belfer. Mr. Armstrong will also sit on the board of directors for WebPT.