Updated at 4:11 p.m., Monday, December 10, 2007
Itochu invests $2 million in Hawaii's Convergence CT
Advertiser Staff
Convergence CT, a Honolulu-based technology company, said Tokyo-based Itochu Corp. has invested $2 million in Convergence to help it expand in Japan.The company said it's also signed a five-year distribution agreement with Itochu Corp. to jointly market, distribute and license Convergence's data warehouse solutions and analytics reports to clients in Japan.
"Itochu has voiced its confidence in the Company and its products by making an investment in us. We plan to use part of these funds to augment our Japan operations, where there is high demand for products that improve healthcare quality," said Lambert Onuma, Convergence CT's CEO and president, said in a press statement.
The local company said it sold a 5 percent equity interest to Itochu. A spokeswoman for Convergence CT said the company is open to additional investments.
Convergence CT wants to establish the largest network of longitudinal patient health data and information to help with healthcare research and analytics.
Itochu is one of Japan's larger trading companies, with businesses spanning textiles, machinery, information products and oil.
Convergence CT was founded in 2001 and has offices here, in San Francisco, Tokyo and Berlin. The company's data warehouse product manages patient data for healthcare organizations.
