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In quest for next windfall, tech funds look to healthcare

03
Sep
2014

By David Randall and Christina Farr NEW YORK (Reuters) – Some of the best-known technology investors are looking beyond their tried-and-true Internet plays to bet on healthcare data as the next growth market. Venture capital firms and portfolio managers of large mutual funds are among those investing in companies that gather and analyze healthcare data, all in hopes of tapping into the shift to electronic record keeping and consumer acceptance of personal health tracking devices. Unlike biotechnology firms, which are often hit-or-miss based on the success of drugs under development, investors say these health technology firms tend to have a reliable path to profits by selling services and data to insurance companies, doctors and hospitals. Overall, venture capital funding for healthcare technology firms is up 176 percent so far this year, at $2.3 billion, versus the same period last year, according to Rock Health, a San Francisco–based seed funding firm.

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