MEDFAR attracts investment of $25 million
February 17, 2021
MONTREAL – MEDFAR Clinical Solutions, a leading Canadian Electronic Medical Record (EMR) provider, announced a minority investment of nearly $25 million led by Walter Capital Partners. MEDFAR will dedicate the funds to accelerate its expansion, innovation and acquisition agendas in North America.
“We are excited to join forces with Walter Capital Partners,” said Elias Farah, CEO of MEDFAR Clinical Solutions. “We look forward to fulfilling our objective of increasing our momentum and completing bolt-on EMR provider acquisitions at a sustained pace with Walter Capital’s strong and talented team.”
MEDFAR has rapidly evolved MYLE (Make Your Life Easy) from an EMR to a complete Care Management Solution, including a virtual care platform that fosters patient engagement. “We have also expanded our footprint throughout Canada with 2 acquisitions within 18 months,” added M. Farah.
“We share Elias’ vision of innovation serving client success in healthcare clinics,” said Éric Phaneuf (pictured), president and CEO of Walter Capital Partners. “We partner with strong management teams possessing deep sector understanding and we know that MEDFAR has all the ingredients to become a leading player globally. We are especially impressed by MEDFAR’s resilience and agility in adapting to the pandemic and rising to the challenge of better serving their users with fast-paced virtual health advances in unprecedented circumstances.”
Mr. Phaneuf will join MEDFAR’s board of directors. MEDFAR serves nearly 7,000 physicians delivering 10 million consultations annually in Canada. In 2020 only, nearly 400 clinics in Canada deployed MEDFAR solutions, most of them switching from a competing EMR to MYLE.
Founded in 2010 by two aeronautical engineers, MEDFAR Clinical Solutions was the first to certify a fully web-based EMR solution in Canada. With the support of experts from its medical and clinical advisory board, the MEDFAR team evolved its solution, MYLE (for Make Your Life Easy), from a simple EMR to a powerful end-to-end Care Management Solution that streamlines each and every clinical process, freeing caregivers from the burden of administrative tasks and helping them achieve more. MEDFAR grew to become the preeminent pure-play EMR solution provider in Canada with a growing presence in international markets. MEDFAR is relentlessly committed to its mission of driving excellence and efficiency in healthcare across the world. For more information, please visit www.medfarsolutions.com.
About Walter Capital Partners
Walter Capital Partners is a private equity firm part of Walter Financial, the investment unit of the Walter Group. Its investment model combines capital inflow and operating expertise to support the growth of promising companies on solid and sustainable foundations, by drawing on the entrepreneurial background of the Walter Group and the extensive business leadership experience of its managing partners. Headquartered in Montréal, Walter Capital provides a solid international network. For more information, please visit www.waltercapital.ca.