Hanoun Medical, Inc. Completes Private Placement Financing to Accelerate Company Growth; Funding to Further Propel Company's Leadership Position.Business Editors/Health & Medical Writers DOWNSVIEW, Ontario & GREENWOOD Greenwood. 1 City (1990 pop. 26,265), Johnson co., central Ind.; settled 1822, inc. as a city 1960. A residential suburb of Indianapolis, Greenwood is in a retail shopping area. Manufactures include motor vehicle parts and metal products. VILLAGE, Colo.--(BUSINESS WIRE)-- Nov. 20, 2002 Hanoun Medical, Inc., an international medical technology and employer services company specializing in the evaluation, monitoring and enhancement of human performance, announced today that it has completed a $3.4 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) financing. The 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. of Class A Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. was achieved through a private placement led by Toronto, Ontario-based Covington Capital Corp. Private investor B. Charles Ames, vice chairman of Clayton, Dubilier and Rice, Inc., one of the world's leading private equity investment firms, also personally participated in the financing. Ames also holds several other directorship positions at leading organizations. The private placement is the first round of institutional financing the company has received to date. Proceeds from the financing will be used for the working capital necessary to fuel the company's substantial growth. This includes, among other initiatives, enhancing marketing and distribution efforts; raising brand awareness; improving production capabilities, developing new products and services; and seeking complementary acquisitions. Thomas P. Rogan, Hanoun Medical chief executive officer, commented on the company's financing and future plans: "Hanoun Medical has secured a leadership position in the employer services and medical technology industry. Our diverse products and services serve as a foundation for integrating healthcare solutions that benefit employers, insurance companies, physicians, therapists, chiropractors, clinics and other members of the medical community. These solutions are allowing employers to reduce work-related injuries and employees to receive better care plans. As a result, employees are able to return to work faster and insurance companies can contain their workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. costs." "Our goal is to continue developing and delivering world-class technologies that assure the best results are being realized in treatment programs among injured in·jure tr.v. in·jured, in·jur·ing, in·jures 1. To cause physical harm to; hurt. 2. To cause damage to; impair. 3. employees. Our technologies also help ensure 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. recoveries and a rapid return to work while minimizing disability-related costs. This important financing aids us in our quest and will enable us to obtain a stronger position within the marketplace," concluded Rogan. Scott Clark Scott Clark (born in 1957) is the sports director for WABC-TV in New York City. Clark joined the affiliate in 1986. Prior to that, Clark traveled all around the world to cover sports. He can be seen anchoring the news on the weeknight 6 and 11 p.m. broadcasts. , investment manager at Covington Capital, added: "We are constantly evaluating investment opportunities that meet the criteria for inclusion in our portfolios. Hanoun Medical was the right fit for us because of the market opportunity, growth expectations and a strong management team. Additionally, Hanoun Medical brings innovative technologies that are making a difference in human performance evaluation Performance evaluation The assessment of a manager's results, which involves, first, determining whether the money manager added value by outperforming the established benchmark (performance measurement) and, second, determining how the money manager achieved the calculated return systems and employer services. We believe their solutions are significantly helping employers in this area." Covington Capital Corp. is the investment manager to three Toronto, Ontario-based Labour Sponsored Investment Funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company -- Covington Fund I (capped in May 1999) and Covington Fund II (launched December 1999), and Triax Growth Fund. Hanoun Medical, with offices in Toronto and the metro Denver area, is an international medical technology and employer services company specializing in the evaluation and assessment of human physical performance in various situations. These include work-related, sports, and physical maintenance situations. The company assists employers in reducing the extensive costs associated with workplace injuries by providing integrated web-enabled software applications and patented digital medical technologies that enhance the delivery of healthcare services. These applications and technologies are used in the evaluation of physical performance, determination and prevention of injury and predictions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc an employee's ability to return to work. Hanoun Medical has been developing highly sophisticated digital technologies used in evaluating and monitoring physical functions and mobility for more than 15 years. Hanoun Medical occupies a key niche in the marketplace as hospitals, healthcare service providers and employers on an international basis utilize its specialty-patented technologies. |
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