Kardia Health Systems on the hunt for $13.9 million

MINNEAPOLIS, Minnesota –Health information technology company Kardia Health Systems has started raising $13.9 million in equity, according to a filing with the Securities and Exchange Commission.

Kardia is a Mayo Clinic spinoff that developed some of the software solutions it now sells from the health system. Kardia offers Web-based document and imaging management, patient scheduling, billing and archival software products largely for cardiac imaging and other heart practices. It launched its most recent product, Kardia V, in March. It allows physicians to have remote Web access to images and reports, among other features.

A Kardia spokeswoman said the company would discuss the fund-raise once it’s complete.

The amount they list on their SEC filing as hoping to raise is very specific: $13,888,890. But once you subtract the estimate sales and commission costs ($1,888,990), things get a little more rounded; Kardia hopes to keep $12 million total after those expenses.

Some of the funding may be used to buy back warrants from an earlier round of fund-raising, according to the SEC document. The company has raised about $500,000 so far, according to the filing.