Alliance Medical Receives $8 Million in Second Round of Financing; Company Obtains $16.5 Million in the Past 12 Months to Support Ongoing Activities and Growth.Business Editors/Health & Medical Writers PHOENIX--(BW HealthWire)--Sept. 5, 2000 Alliance Medical Corp. (Alliance), the country's leading medical device reprocessor, received $8 million in new funding from a syndicate of four top healthcare venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] , the company announced Monday. This follows a $8.5 million investment the company obtained last September. The initial $8.5 million investment was made by a financial syndicate composed of Coral Ventures of Minnesota, Delphi Ventures, Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif. and Valley Ventures, Scottsdale, Ariz. Patricof & Co. Ventures Inc. an international venture capital firm, joined the syndicate for the most recent round of funding. "We were eager to invest in Alliance because we believe that the company will become the undisputed market leader in an industry poised for dramatic growth," said Janet Effland, managing director of Patricof & Co. "The recent release of the Food & Drug Administration's (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) Guidance Document on safe reprocessing Reprocessing may refer to:
"Alliance Medical's strong leadership, proven commitment to quality and dedicated staff make it the best positioned reprocessor to thrive in the new, more highly regulated environment. We, along with our syndicate partners, look forward to being a part of their continuing success." "This $8 million investment strengthens Alliance's ability to respond to the expensive, labor intensive Labor Intensive A process or industry that requires large amounts of human effort to produce goods. Notes: A good example is the hospitality industry (hotels, restaurants, etc), they are considered to be very people-oriented. See also: Capital Intensive, Trading Dollars pre-market requirements the FDA recently mandated for all organizations that reprocess re·proc·ess tr.v. re·proc·essed, re·proc·ess·ing, re·proc·ess·es To cause to undergo special or additional processing before reuse. Verb 1. medical devices. "We now have the financial resources and talent needed to prepare all necessary 510(k) submissions and to meet or exceed all other FDA requirements," stated Alliance Chief Executive Officer Rick Ferreira. "We will continue to provide cost-effective, patient-safe medical device reprocessing that allows hospitals and surgery centers to maximize their finite resources and reduce their medical waste." Within the past year, Alliance has: -- moved into a new, 42,000 square foot, state-of-the-art facility in Phoenix that more than tripled output capability; -- added four engineers to the industry's only in-house engineering group staffed by specially trained, experienced medical device engineers; -- hired six additional regulatory experts for Alliance's Quality Assurance and Regulatory Affairs Group, the largest in the industry; -- signed agreements with major group purchasing organizations, including a sole-source contract with University HealthSystem Consortium (UHC); -- passed FDA follow-up inspections with no deficiencies at Alliance's new Phoenix facility and its Apopka, Fla. sorting facility, the first and only major medical device reprocessor to do so; and -- created a content-rich website (www.alliance-medical.com) that contains a virtual tour of the new Alliance facility, e-commerce applications, a calculator to help healthcare facilities determine their potential savings, pertinent articles and documents such as the recent GAO report and FDA Guidance Document, healthcare news and other useful features. About Alliance Medical Corp. Alliance Medical Corp. (www.alliance-medical.com) is the industry's oldest and most experienced reprocessor of disposable medical devices. The company's programs allow hospitals and surgery centers, suffering from shrinking reimbursements, to maximize their finite resources while decreasing their medical waste. Alliance's customers include many of the country's top healthcare facilities as identified by U.S. News & World Report U.S. News & World Report Weekly newsmagazine published in Washington, D.C. U.S. News was founded in 1933 by David Lawrence (1888–1973) to cover important domestic events; he founded World Report in 1945 to treat world news. The two magazines were merged in 1948. , as well as large health systems, community healthcare providers and regional and national hospital group purchasing organizations A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. . About Coral Ventures Coral Ventures, a private venture capital firm specializing in the technology and healthcare industries, manages more than $300 million of capital in five funds and has invested in some 60 companies nationwide. The partners use their extensive experience as entrepreneurs, executives and venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. to found and build enterprises that create substantial market value and generate high financial returns for their investors. Coral primarily invests in emerging and early-stage companies, but also invests selectively in later stage opportunities. The company has offices in Minneapolis and Menlo Park, Calif. About Delphi Ventures Inc. Delphi Ventures is a private venture capital firm providing equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. and supportive business expertise to young biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. and healthcare companies. Delphi has some $450 million under management in five funds and has invested in more than 100 companies across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Delphi helps healthcare entrepreneurs realize their vision by drawing on Delphi's partners' considerable business and venture capital experience. The company has offices in Menlo Park and Minneapolis. About Patricof & Co. Ventures Inc. Patricof & Co. Ventures Inc., U.S. Member of Apax Partners, is a global private investment firm with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Philadelphia, Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , London, Leeds, Dublin, Paris, Madrid, Milan, Munich, Tel-Aviv, Tokyo and Zurich. Its team of over 130 investment professionals manages over $7 billion worldwide for leading institutional investors. With over 30 years of direct investing experience, Patricof & Co. Ventures provides long-term, equity financing to build growth companies in a wide range of industries including B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business eCommerce, business services, information technology, telecommunications, healthcare, consumer and retail. About Valley Ventures II, L.P. Valley Ventures II, L.P. is an institutionally funded venture capital partnership founded in 1998 to serve the southwest United States. Although Valley specializes in healthcare investments, it also finances a broad spectrum of industries, including basic manufacturing, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , software, electronics and optical sciences. Valley manages about $30 million of committed capital and maintains offices in Scottsdale, Ariz. and Albuquerque, N.M. |
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