Investments in electronic health records, tools to help hospitals absorb physician practices anda group working with hospital systems to help them set up their own insurance plans. Those three health IT companies helped drive venture capital investment in the software sector, which hit a 12-year high in the third quarter. Medical device and biotechnology companies collectively marked their lowest investment for a nine month period since 2005, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association. It is based on data from Thomson Reuters.
About $3.6 billion was invested in the software sector and there were 42o deals in the quarter.
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