Why this Safeguard Scientifics portfolio company opened a Philly office

Syapse, a Palo Alto, Calif.-based healthcare software provider and Safeguard Scientifics portfolio company, chose the Philadelphia region for its East Coast office.

It will initially work out of Safeguard’s Wayne office, Syapse CEO Glenn Winokur said through a spokeswoman. Safeguard led the company’s $10 million Series B this summer.

We feel that Philadelphia is an under-served opportunity for exciting health IT talent.

The office will be focused on implementing Syapse at local healthcare provider networks and will be led by Michael Italia, former head of applications research at the Children’s Hospital of Philadelphia.

Italia is one reason Syapse chose Philadelphia for a second office, Safeguard was another, Winokur said. The company also feels like Philly is a “buyer’s market.”

“We feel that Philadelphia is an under-served opportunity for exciting health IT talent,” Winokur wrote in an email. “There is tremendous talent being developed at places like Penn, working at places like CHOP, etc. and as compared to Silicon Valley very few exciting career opportunities in emerging Health IT companies.”

Syapse plans to hire five to ten in 2015.