The IMCS Group, Integrated Medical Case Solutions, in St. Petersburg received an $8 million capital infusion co-led by HLM Venture Partners and .406 Ventures.
IMCS’s early investor, Centripetal Capital Partners, also participated in this latest funding round.
The new capital will allow even faster growth by attracting additional talent, enhancing the company’s technology platform, and scaling its already proven methodologies, Lori Daugherty, IMCS CEO, said in a news release.
IMCS evaluates and treats trauma, PTSD and stress-related injuries for workers’ compensation cases. The company said its proprietary approach mitigates liability in some of the most vexing workers’ compensation cases and provides employees with effective treatment programs, so they can return to work more quickly and with fewer long-term negative outcomes. The company has a national network of more than 1,200 psychologists and psychiatrists in all 50 states.
“The experience that these two successful and well-respected organizations [HLM and .406] bring to IMCS will propel us to the next level as a leading behavioral telehealth provider in workers’ compensation treatment and recovery,” Daugherty said.
Vin Fabiani, an HLM partner, will join the IMCS board. “IMCS serves a significant role in minimizing lost work time due to workers’ compensation claims; HLM is excited to partner with IMCS to increase their recruitment of quality professionals, expand their provider system, and increase their success as a leader in workers’ compensation recovery,” Fabiani said.
HLM Venture Partners in Boston is one of the nation’s oldest and most experienced in the tech-enabled healthcare services. .406 Ventures is a Boston-based early-stage venture capital firm investing in healthcare and enterprise technology companies. Centripetal Capital Partners, in Stamford, Connecticut, is a multi-stage venture capital firm focused on health and wellness, impact, and market reimagination companies.
IMCS initially disclosed the equity raise in a filing with the U.S. Securities and Exchange Commission July 22.