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Calsoft's subsidiary gets funding
CHENNAI:
Hong Kong-based angel investor Andorra Ventures Corporation (AVC) has invested $1 million in the 26-year-old American HealthNet Inc. (AHN), a subsidiary of California Software Company Ltd (Calsoft). AVC, consequently, will hold 18 per cent equity stake in AHN, which has a capital base of $5 million. Calsoft had acquired AHN in February 2005 and invested $1 million in the equity. Since then, Calsoft's holding in AHN has increased to 52.81 per cent. The $6 million AHN is a healthcare software product company and has around 120 employees. It is a major player in the U.S. community healthcare software market.
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