News and Events
GTESS Corporation Announces Additional $1.4M
Investment
January 7, 2003. GTESS Corporation ("GTESS") of Richardson,
Texas announced it has received an additional $1.4 million of
capital in a funding round raised by the Company’s existing
investors, including SnowMark Corporation and Seed Capital Partners,
Inc. SnowMark, based in Vero Beach, Florida, is a venture capital
firm specializing in providing capital as well as management resource
and expertise to emerging companies. Seed Capital Partners is
an early-stage venture fund focused primarily on technology opportunities
in the Southwest.
Deborah M. Gage, GTESS CEO and President, said, "We’re
thrilled by this vote of confidence from our investors who are
pleased -- not only with our past progress -- but with our plan
to reach profitability in 2003." Gage said, "We anticipate
another round of capital raising in late 2003, following the achievement
of our profitability target, to further expand our business development
activities and position the Company for significant growth."
The $1.4 million of capital raised in this round will fund the
implementation of ten new customers who have recently chosen GTESS
as their outsourcing partner for business process solutions. In
addition, it will aid on-going efforts to accelerate the Company’s
sales and business development plans and recruit sales professionals.
GTESS Corporation offers significant operating efficiencies
to the healthcare industry through a range of outsourced solutions
that streamline electronic claims processing. The company specializes
in providing full front-end services, from paper or electronic
claims receipt and validation to data archival and retrieval.
By receiving "clean claims" in HIPAA-compliant formats,
GTESS clients achieve higher auto-adjudication rates, maintain
peak-level processing capacity and eliminate their backlog --
all with guaranteed turnaround time and data accuracy. < back
Karen Hallman
GTESS
972.792.5500
Ellen Donahue-Dalton
Dalton Associates
404.442.7900 |
