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
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