Tuesday, June 7, 2011

Billionaire Soon Shiong Funds Healthcare Systems Developer

Los Angeles billionaire entrepreneur Patrick Soon Shiong has made an investment in a healthcare technology firm Net.Orange, Net.Orange said today. The Texas firm provides a suite of web-based applications for the healthcare industry. Financial details of the investment were not disclosed, however, Net.Orange described the investment from Soon Shiong's investment firm, California Capital Equity, as a "significant" growth equity capital injection. Soon Shiong has been becoming very active in making investment recently, having funded massively multiplayer online gaming firm Fourth Wall Studios in May and acquiring "smart pill" maker Vitality Corp in February.

---