Business & Real Estate

Roseville tech company makes acquisition

A Roseville tech company that specializes in telemedicine said Monday it’s buying another Roseville company with a similar focus.

Tech company Kura MD said it is buying The Telemedicine Group in a union of two companies that focus on the business of delivering medical advice over the web. The Telemedicine Group is a management company that runs TeleMed2U, a physicians’ group that offers medical services electronically to prisons, rural health clinics and more.

Terms of the deal weren’t disclosed.

The takeover “creates a powerful combination of technology, management and medical expertise, allowing us to service existing and future clients with a state-of-the-art telemedicine offering,” said Kevin Hamm, chief executive of Kura, in a prepared statement.

The acquisition by Kura represents another milestone for the company’s financial backer, Folsom venture capital firm Moneta Ventures. Moneta announced earlier this year that it has raised $25 million in the past year, making it one of the leading venture capital firms in the region.

Moneta, led by technology entrepreneur Lokesh Sikaria, has invested $2 million in Kura.