A report from Mercom Capital Group LLC found that venture capital funding for health care information technology sector more than doubled in 2014. VC funding came in at $4.7 billion in 670 deals, compared with $2.2 billion and 571 deals in 2013. "In the five years since we started tracking funding data, the sector has raised $8.8 billion in VC funding and anther $3.6 billion in public market and debt financings, bringing the total to $12.4 billion — largely driven by the HITECH and Affordable Care Act," Mercom CEO and co-founder Raj Prabhu said in a statement. "However, the enthusiasm in the sector shown by the VC community was not quite matched by the public markets when you look at market performance of companies that went the IPO route in 2014."
