Private equity firm LLR Partners acquired a stake in Phreesia Payment Services as part of a $30 million investment. (Watch our video interview with LLR's Christian Bullitt on deal flow, below)
The capital is expected to help Phreesia expand its tablet product across the U.S. The New York-based company provides electronic payment services and data management to health care companies in order to streamline workflow.
LLR facilitated the deal with Phreesia's existing investors, HLM Venture Partners and Ascension Ventures, who also participated in this round of funding.
Phreesia was advised by law firm Goodwin Procter LLP and investment bank Baird Capital.
The transaction is the latest in a continuing stream of health care tech deals.
Earlier in 2014, Equian acquired AfterMath Claim Science Inc., a company that provides post-payment recovery services that aim to eliminate medical claim payment errors through data mining technology. Terms of the deal were not disclosed.
For more coverage, see 5 Technologies Drive Health Care M&A.