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SCWorx Completes Equity Financing with Institutional Investors

Nov 20, 2024•over 1 year ago

Contract Type

partnership

TampaInformation Technologyhospital & health care

Description

SCWorx Corp completed an equity financing with institutional investors, selling 232,558 shares of common stock and warrants for aggregate gross proceeds of $200,000. The net proceeds will be used for working capital and general corporate purposes to support future growth.

Company Information

Company

SCWorx

Location

100 S Ashley Dr, Suite 100

Tampa, Florida, United States

About

SCWorx offers a suite of software-as-a-service-based data management solutions for healthcare providers. SCWorx delivers value through the full integration of its solutions modules with a robust data platform, ensuring accuracy, cost savings, operational efficiency, and reliable benchmarking and reporting. The solution modules include Virtual Item Master, data cleanse and normalization, contract management, request for pricing (RFP) module, automated rebate management module, data interoperability (EMR, MMIS, finance) module, Automated Item Add Portal, Virtual General Ledger, and the data analytics module. SCWorx creates a single source for information for the healthcare provider’s data governance and analytics requirements.

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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months