Gannon University’s Erie Technology Incubator Announces Investment

Posted: June 28, 2017

Gannon University's Erie Technology Incubator (ETI) hosted an event to announce that Brightree LLC, an Atlanta-based provider of cloud-based software for post-acute care organizations, has acquired ETI member company Conduit Technology, LLC. Conduit Technology develops software that automates paper-based workflows used to collect documentation submitted to insurance carriers for medical equipment used in the home.

Conduit joined ETI as a virtual client in May 2012 and became a resident client in July 2013. In 2014, Brightree and Conduit Technology formed a strategic relationship which resulted in the introduction of MyForms a workflow solution used by more than 200 home medical equipment organizations with nearly 7,000 users. MyForms significantly reduces order processing times, accelerates the time to submit claims and reduces errors during order creation and confirmation.

ETI is the only technology incubator in the Northwest Pennsylvania region and provides mentoring and strategic guidance to its members. W.L. Scheller II, Ph.D., dean of Gannon University's College of Engineering and Business and chairman of ETI's board of directors, said, "We are pleased to see another ETI client graduate from our program. Conduit is the epitome of the advanced technology company we are seeking to assist. Jim Noland and his team have produced outstanding software and this purchase recognizes that quality."

Conduit Technology also received investment and/or operational assistance from Ben Franklin Technology Center of Central and Northern Pennsylvania Inc., the Erie County Gaming Revenue Authority (ECGRA) and Penn Venture Partners LP.

Since 2008, ETI member companies have created 151 new jobs and raised $35 million in investment capital, and is itself achieving significant growth in its membership. In the past three years, ETI has more than doubled the number of members, which currently stands at 27.