Alteer Corporation Announces Completion of $16.5 Million Funding

Allows company to help enhance doctor-patient experience and improve practice profitability across the USA.

Irvine, CA (August 25, 2005) –

Alteer Corporation, a company focused on providing business solutions to medical practices, completed the first of two closings in a transaction that added $16.5 Million to the capitalization of the Company. Alteer delivers technology-enabled solutions that increase practice profitability and optimize workflow to small and mid-sized physician practices across the United States.

MedVenture Associates and existing investor Sanderling Ventures are co-leading the round, and are joined by existing investor Skyline Ventures. Triple Tree, LLC advised the Company on the transaction.

“This new funding allows Alteer to move forward quickly on expanding sales and marketing initiatives and infrastructure enhancements, and is optimal timing to accelerate Alteer’s growth to meet increasing market demands for our medical practice workflow solutions,” said Gene Barduson, Alteer Corporation CEO today.

“Our offering effectively assists physicians in optimizing practice operations and enhancing patient safety, in advance of rapidly approaching society and government mandates to make practices more efficient. This new funding allows us to continue to meet market needs.”

“Alteer has developed new services that will allow our customers to provide their patients a better experience, and will allow the physician critical patient information at any time, from any where” says CEO, Barduson. “Our services also assure that physicians get paid for what they do and help cut the costs of running a medical practice, resulting in reduced overhead ratios, higher profitability, and ultimately a better quality of life for physicians, their staff, and their patients.”

Alteer Corporation, founded in 1996, provides comprehensive practice enhancement and process reengineering for over 1,600 providers across the United States, servicing 3.2 million patients. Alteer integrates people, processes, and technologies to optimize physician office efficiency; enhance patient service and quality of care; and improve practice profitability and the physician’s quality of life.

Source: Alteer