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Press Contact
Rochelle Woolley
Director of Public Relations
Tel. 612.963.4438
Prematics, Inc.
7315 Wisconsin Avenue
Suite 200 W
Bethesda, MD 20814
Tel. 1.877.500.6001
pr@prematics.com
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Bethesda (MD), June 26, 2006 — Prematics™ ,an innovative healthcare IT service provider, today announced the close of a private equity financing led by two top tier and highly respected venture capital firms, General Catalyst Partners and Foundation Capital. Both organizations have successful track records developing world class businesses.
"Completing this eight-figure private equity financing with such high quality investors as General Catalyst Partners and Foundation Capital reflects the strength of the Prematics' unique approach to driving mainstream adoption of electronic prescribing," said Scott Puritz, Chief Executive Officer of Prematics. "The Company's ScriptToneSM service is the nation's first end-to-end, fully managed electronic prescribing platform, and positions Prematics to improve patient safety, drive down costs and provide value to all key industry stakeholders."
General Catalyst Partners, with approximately $1 billion under management, is known for helping entrepreneurs build companies with exceptional operational efficiency. Ken Novack, from General Catalyst Partners, joins Prematics' Board of Directors. Mr. Novack brings to the Company significant industry experience with his impressive leadership as Vice Chairman of Time Warner (NYSE: TWX), Vice Chairman of America Online (AOL), and Vice Chairman of Tufts-New England Medical Center. "Prematics combines two of my lifelong passions- health care and IT," said Ken Novack, special advisor, General Catalyst Partners. "This is a tremendous opportunity for me to work with the Prematics management team in harnessing an innovative technology to solve a critical nationwide problem."
Prematics also adds to its Board of Directors Rich Redelfs from Foundation Capital, a top tier west coast venture fund with over $1.6 billion under management. As the first President and CEO of Atheros Communications (NASDAQ: ATHR), Mr. Redelfs grew this start-up company into the leading provider of Wi-Fi wireless semiconductors with a current market cap in excess of $1 billion. Prior to Atheros, Mr. Redelfs was a senior executive with 3Com (NASDAQ: COMS), where he helped grow the Mobile Communications Division from $35 million to over $700 million in annual revenue. "We are thrilled to partner with this highly seasoned executive team," stated Mr. Redelfs. "Prematics' ScriptToneSM service is poised to revolutionize the prescribing process, transform the supply chain, and deliver an invaluable service to doctors, health plans and patients."
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, visit: www.generalcatalyst.com
About Foundation Capital
Foundation Capital's family of venture funds totals over $1.6 billion in capital under management. Its base of limited partner investors includes foundations (MacArthur, Hewlett), pension funds, and a group of university endowments such as Harvard, CalTech, Stanford and Yale. Foundation Capital leverages its partners' entrepreneurial experience in building successful IT and communications companies to drive innovation and transform industries. Foundation Capital is headquartered in Menlo Park, CA. For more information, visit: www.foundationcapital.com
About Prematics
Prematics is committed to improving the safety, quality and efficiency of the prescription drug supply chain. The Company offers ScriptToneSM, the nation's first easy-to-use, fully managed electronic prescribing service designed for physicians. Prematics delivers ScriptToneSM over the Company's proprietary end-to-end network. This reliable and highly secure service empowers physicians at the point-of-care to prescribe the most clinically appropriate and cost-effective prescription. ScriptToneSM benefits all of the key industry stakeholders by driving patient safety, lowering costs, and streamlining fulfillment. For more information, visit: www.prematics.com.
Contact: Rochelle Woolley, Director of Public Relations, Prematics, Inc. 612-963-4438 or pr@prematics.com. |
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