Aperio Raises $10.6 Million to Fuel Growth in Digital Pathology.Digital Pathology pathology, study of the cause of disease and the modifications in cellular function and changes in cellular structure produced in any cell, organ, or part of the body by disease. Leader Secures Additional Growth Capital from Existing Investors Galen Partners and Advanced Technology Ventures VISTA, Calif. -- Aperio Technologies, Inc., the leading provider of digital pathology systems and services to the healthcare and life sciences industry, is pleased to announce that it has closed a $10.6 million round of financing. Aperio will use the new capital to further expand its sales, marketing and operations efforts, develop new products, and implement its clinical market strategy. To date, the company has raised a total of $33 million in equity capital. The round was co-led by Galen Partners, a Stamford, Connecticut-based private equity firm specializing in healthcare investing, and Advanced Technology Ventures (ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. ) a bi-coastal venture fund specializing in healthcare and technology investments. Other existing investors also participated. Terms of the financing deal were not disclosed. "As the recognized leader in digital pathology with an installed base of more than 250 systems in more than 23 countries, and customers that include half of the top 13 pharmaceutical companies and more than two-thirds of the top 14 rated U.S. hospitals, Aperio is well-positioned to unlock this market," said Tom Rodgers, a principal at Advanced Technology Ventures and a former vice president of corporate strategy at McKesson. "Based on the benefits derived by the existing customer base, including increased efficiency, cost savings, and improved patient care, we believe Aperio will continue to dominate and lead this space with its pivotal technology." Zubeen Shroff n. 1. A banker, or changer of money. , general partner at Galen, commented that, "Aperio has done a terrific job in scaling its operations to address increasing customer demand. They have solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. their leadership position in this rapidly emerging market by having superior products, successful go-to-market strategies, and being relentless in their focus on customer's unmet un·met adj. Not satisfied or fulfilled: unmet demands. needs." Added Dirk Soenksen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aperio, "The additional capital investment by our existing investor team is an exceptional vote of confidence in Aperio and its technology. We have benefited greatly from their proven experience in building healthcare technology companies and look forward to continuing to lead the industry in the adoption of digital pathology." About Aperio Aperio provides systems and services for digital pathology. Our award-winning ScanScope([R]) slide scanning systems and Spectrum(TM) digital pathology information management software is helping pathology professionals around the world improve the efficiency and quality of pathology services, enhance patient care, and improve the bottom line. Applications include remote viewing, archival and retrieval, digital conferencing See teleconferencing. , research and education, and image analysis. For more information and to view a gallery of digital slides created by ScanScope Systems, visit www.aperio.com. About Advanced Technology Ventures Founded in 1979, Advanced Technology Ventures is a bi-coastal venture capital firm with more than $1.4 billion in capital under management. ATV works closely with entrepreneurial teams in several technology markets, including biotechnology, medical devices, communications, IT infrastructure, and software and services, to build emerging-growth business ventures into market leaders. With more than 25 years of experience, ATV has a proven track record of success in helping to build strong, sustainable business A business is sustainable if it has adapted its practices for the use of renewable resources and holds itself accountable for the environmental and human rights impacts of its activities. enterprises. For more information, please visit ATV's Web site at www.atvcapital.com. About Galen Partners Galen Partners is a private equity firm, founded in 1990 and focused exclusively on financing mid-to-later stage growth companies in the healthcare industry. With $900 million under management raised through five funds, Galen has invested in more than 60 companies. The firm emphasizes investments within the medical device, technology-enabled outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services and specialty pharmaceutical sectors. Galen's approach, called Collaborative Capital, enables them to work with company management to create disruptive disruptive /dis·rup·tive/ (-tiv) 1. bursting apart; rending. 2. causing confusion or disorder. strategies that generate revenue growth and help achieve full market potential. The firm is headquartered in Stamford, Connecticut Stamford is a city in Fairfield County, Connecticut, United States. According to 2006 Census Bureau estimates, the population of the city is 119,261, making it the fourth largest city in the state. . For more information about Galen Partners please visit www.galen.com. |
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