Fundraising for digital health continued on its record pace in February with more than $320 million in venture, debt and private equity investment going into the burgeoning sector.

The three largest deals are all efficiency plays – products or services geared to improving operations and reducing costs. We expect to continue to see investment interest in companies in areas such as infrastructure, communications and telemedicine that help healthcare organizations respond to increased demand efficiently in the advent of the Affordable Care Act (ACA).

The other two largest investments of the month went to companies that are primarily focused on the consumer wellness and engagement space. Consumer-facing products continue to be popular investments because of the large market of self-trackers and increased consumer awareness and engagement around their health.

The largest investment of the month was a $50 million Series E round for San Luis Obispo-based MINDBODY, a provider of SaaS business management solutions. Investors in the latest round included Bessemer, W Capital, IVP, and Montreux Equity (which was represented by Fenwick in the transaction).

Voalte, the Sarasota, FL-based provider of mobile communications raised the second largest round of the month. The company targets products for care-giving teams in a clinical environment. Bedford Funding invested $36 million in Voalte’s Series C round.

The third largest investment was a private equity deal for $32 million into Specialists On Call. As its name implies, Specialists On Call provides telemedicine consulting in the fields of neurology, psychiatry, critical care and cardiology. Warburg Pincus joined previous investors Concordia Capital, GEN3 Capital and Greenwoods Capital.

Welltok, a Denver-based healthcare industry and social networking platform raised $22 million in a Series C round that included NEA, InterWest, Miramar, Emergence Capital, Okapi Venture, Qualcomm Ventures and IBM.

Rounding out the top five largest investments for February is a Series A round in Cambridge, MA-based Quanttus. The company is developing wearable technologies that include clinical-grade vital signs monitoring and contextual analysis for the user. Khosla Ventures and Matrix Partners participated in the round.