Carefx Secures $12.3 Million in Series B Equity Funding; Over-Subscribed, Up-Round Highlights Company's Momentum in the Marketplace.SCOTTSDALE, Ariz. -- Carefx Corporation, the only provider of strategic, open and scalable solutions that simplify access to patient information, today announced completion of a Series B round of 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. , totaling $12.3 million from a combination of new and current investors. This over-subscribed, up round of funding is led by new investors, UV Partners and Appian Ventures, and joined by present investors CB Health Ventures, Solstice solstice (sŏl`stĭs) [Lat.,=sun stands still], in astronomy, either of the two points on the ecliptic that lie midway between the equinoxes (separated from them by an angular distance of 90°). Capital, Grayhawk Venture Partners, Highway 12 Ventures and Village Ventures. The current round brings the total equity capital invested in Carefx to approximately $20 million. Carefx is the only provider of strategic, open and scalable solutions that provide clinicians simplified access to patient information residing in disparate applications. The company is the preferred solution of the healthcare industry's leading infrastructure and application vendors, including Cerner, GE Medical Systems, McKesson, Siemens, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Novell and Computer Associates. The Carefx solution benefits clinicians with unified, expedient ex·pe·di·ent adj. 1. Appropriate to a purpose. 2. a. Serving to promote one's interest: was merciful only when mercy was expedient. b. and secure access to patient information and satisfies IT imperatives by utilizing an open architecture to ensure measurable returns on investments. "This strong new backing reaffirms we're on the right track to satisfy growing demands for our solutions and to capture significant market share," said Andrew J. Hurd, Chairman and 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. , Carefx. "It enables us to accelerate our strategic growth plans, expand our solutions roadmap and further enhance our channel programs." "Flexibility is critical for healthcare organizations," said Jim Dreyfous, general partner of UV Partners. "Carefx's open approach offers hospitals a superior solution to proprietary systems offered by other vendors. We are exceptionally excited about this opportunity, and we anticipate a highly rewarding relationship with Carefx." Mark Soane, a founder and Managing Director of Appian Ventures, added, "Carefx is quickly establishing itself as a leader in context management software. It offers the most robust technology solution and has chosen to partner with the strongest IT infrastructure and HIT companies in the world to deliver it." Additional funding from New York-based CB Health Ventures, which made an earlier equity investment in 2003, demonstrates its satisfaction with the company's strategic execution. Partner Bob Schulz Robert L. Schulz, a political activist living in Queensbury, New York, is the founder of the We the People Foundation for Constitutional Education, a non-profit education and research organization with the declared mission "to protect and defend individual Rights as guaranteed by said, "Like all of the current investors, we are pleased to be reinvesting in a company we've watched grow in value during two short years. We are confident of its continued progress." Founded in 2002, Carefx continues to add muscle to its management team, including the recent addition of Hurd as chairman and CEO and Mark R. Briggs as EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition , Sales and Marketing. Both are HIT veterans with successful track records of building and transforming healthcare and technology teams into market-driven leaders. About UV Partners UV Partners, with offices in Salt Lake City and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , is a leading early-stage private equity investment group. For 20 years, UV Partners has been providing the foundation for developing early-stage entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. concepts into tomorrow's industry-leading Information Technology and Life Science companies. For more information, visit www.uvpartners.com. About Appian Ventures Appian Ventures is a Denver, Colorado-based venture capital firm focused on Applied Connectivity technologies that enable timely, efficient and useful access to enterprise information across a network of connected users. Appian Ventures targets early-stage investments in real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. enterprise applications and infrastructure management software companies. These technologies represent the fastest-growing segments of the IT industry. For more information about Appian Ventures, visit www.appianvc.com. About Carefx Corporation Carefx is the only provider of strategic, open and scalable solutions that provide clinicians simplified access to patient information residing in disparate applications. Carefx solutions streamline clinical workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. , enabling the delivery of safe, quality and cost-effective care in a HIPAA-compliant environment, driving improved user adoption and return on IT investments. For more information about Carefx, visit www.carefx.com. |
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