Hercules Technology Growth Capital Provides an Additional $3.0 Million of Capital to InfoLogix, Inc. to Launch New Products R...
09 Marzo 2010 - 3:01PM
Business Wire
Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), the
leading specialty finance company providing venture debt and equity
to venture capital and private equity-backed technology and life
science companies at all stages of development, today announced
that it has increased its commitment to grow the operations of
InfoLogix, Inc. (NASDAQ:IFLG), a leading technology provider of
enterprise mobility solutions for the healthcare and commercial
industries. Hercules invested an additional $3.0 million of capital
to fund the launch of two new strategic product offerings with high
growth potential.
“Hercules’ support of InfoLogix through the restructuring of its
credit facility and now in supporting their market leadership in
healthcare technology is a testament to our desire to work with the
InfoLogix team. By placing the strength of the Hercules balance
sheet behind our portfolio company, we are able to provide the
necessary working capital to fuel the launch of an exciting new
product line that we believe will significantly enhance the growth
of this business,” said Manuel A. Henriquez, co-founder, chairman
and chief executive officer of Hercules. “We believe the company is
well positioned in an attractive market and has a clearly defined
strategy to return to profitability and growth. Hercules is
actively engaged in the streamlining of InfoLogix’s operations, and
we believe that this investment will provide Hercules with
long-term capital appreciation as InfoLogix expands their
proprietary intellectual property and grows their already sizable
presence within existing and new accounts across the healthcare
industry.”
On March 1st, InfoLogix launched their revolutionary new ST7
Mobile Workstation product line. As part of the company’s
integrated Healthcare Mobility Solutions Suite, the InfoLogix ST7
Mobile Workstations are designed as part of an end-to-end strategy
for hospitals to attain electronic medical record implementation
and mobilization. The company simultaneously introduced a new
Lithium Iron Phosphate power system, the InfoLogix ST7 LiFe
Battery, which significantly increases the performance of mobile
computer workstations, including the ST7. Developed with in-depth
customer research and clinician feedback, InfoLogix believes that
the combination of these two innovations will meet the needs of
clinicians across diverse healthcare facilities, eliminate gaps in
care delivery, and improve efficiency at point-of-care.
“InfoLogix has the opportunity to enhance its product portfolio
in the healthcare mobility business with new, proprietary
technology that is highly differentiated from the competition, and
we are pleased that our partner, Hercules, stepped in to provide
additional financial support which enables us to accelerate our
strategy,” said David Gulian, president and chief executive officer
of InfoLogix. “As the healthcare industry increasingly focuses on
cost control, an important way to achieve this goal is through the
implementation of electronic medical records, and InfoLogix is well
positioned to capitalize on this opportunity. Today we are in 1,500
hospitals with our technology solutions, EMR implementation
strategy, and healthcare consulting services. With strong financial
backing, a 10-year track record of success, and the ability to
deliver complete solutions, we look forward to serving the diverse
and growing needs of our customer base, while simultaneously
increasing our margins.”
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded
specialty finance company providing debt and equity growth capital
to technology and life science companies at all stages of
development. Founded in December 2003, the company primarily
finances privately held companies backed by leading venture capital
and private equity firms. Hercules invests in a broad range of
ventures active in technology and life science industries and
offers a full suite of growth capital products at all levels of the
capital structure. The company is headquartered in Palo Alto,
Calif. and has additional offices in the Boston, Boulder and
Chicago areas. Providing capital to publicly-traded or
privately-held companies backed by leading venture capital and
private equity firms involves a high degree of credit risk and may
result in potential losses of capital. For more information, please
visit www.htgc.com.
Companies interested in learning more about financing
opportunities should contact info@htgc.com, or call
650.289.3060.
About InfoLogix, Inc.
InfoLogix is a leading provider of enterprise mobility solutions
for the healthcare and commercial industries. InfoLogix uses the
industry's most advanced technologies to increase the efficiency,
accuracy, and transparency of complex business and clinical
processes. With 19 issued patents, InfoLogix provides mobile
managed solutions, on-demand software applications, mobile
infrastructure products, and strategic consulting services to over
2,000 clients in North America including Kraft Foods, Merck and
Company, General Electric, Kaiser Permanente, MultiCare Health
System and Stanford School of Medicine. InfoLogix is a
publicly-traded company (NASDAQ: IFLG). For more information visit
www.infologix.com.
Forward-Looking Statements:
The statements contained in this release that are not purely
historical are forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject
to uncertainties and other factors that could cause actual results
to differ materially from those expressed in the forward-looking
statements including, without limitation, the risks, uncertainties,
including the uncertainties surrounding the current market
turbulence, and other factors we identify from time to time in our
filings with the Securities and Exchange Commission. Although we
believe that the assumptions on which these forward-looking
statements are reasonable, any of those assumptions could prove to
be inaccurate and, as a result, the forward-looking statements
based on those assumptions also could be incorrect. You should not
place undue reliance on these forward-looking statements. The
forward-looking statements contained in this release are made as of
the date hereof, and Hercules assumes no obligation to update the
forward-looking statements for subsequent events.
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