08/27/2013 12:01 EDT | Updated 10/27/2013 05:12 EDT

Telus Ventures inks deal with health records software firm

VANCOUVER - Telus Ventures says it is making a "significant" investment in Get Real Health, a health records software company.

The funding will help the Maryland-based company accelerate the development of some of its technology and expand its marketing and sales efforts.

Telus Ventures, the strategic venture investment arm of telecom giant Telus Corp. (TSX:T), did not disclose financial details of the deal.

It says the funding stake shows how much potential both organizations see in the personal health IT space, an industry expected to grow to $250 billion by 2015.

It will also help Get Real Health accelerate the development of new features of its software product, InstantPHR, and build its customer support capability, as well a work to form new strategic alliances to gain increased market access.

Another Telus subsidiary, Telus Health, has been the exclusive InstantPHR partner for Canada since 2011.