
Home Physicians LLC, landed an $11.5 million investment from Triangle Capital Corp. (NYSE:TCAP) of Raleigh, N.C.
The Chicago-based company brings healthcare services to homes and assisted living facilities, and was founded in 1995 with just one doctor and a small support staff. Now the company employs nearly 100 people serving patients throughout the Chicago area, northern Indiana and Baltimore.
Many patients who are too sick or are otherwise unable to make it to a doctor’s office wait until their condition worsens, requiring an emergency room visit and possibly a hospital stay, and CEO Craig Reiff said his company’s goal is to keep patients out of hospitals and therefore bring down health care costs.
Reiff said the new investment will be applied to an expansion into additional cities in the eastern part of the country, and the Carolinas are a potential target market. The company serves urban markets and is looking at cities larger than 500,000 people.
Home Physicians is owned by private equity firm Triton Pacific Capital Partners LLC.
Here’s a roundup of the latest dealflow and investment news:
- Forerun catches $2 million
Forerun Inc., which makes electronic charting solutions for the emergency department, announced that it has closed a $2 million Series C financing led by Massachusetts Technology Development Corporation (MTDC), with additional investor commitments.
Read more - Thoratec redeems senior notes
Thoratec Corporation (NSDQ:THOR) gave notice of its intention to redeem all of the outstanding Senior Subordinated Convertible Notes due 2034 (CUSIP No. 885175AA7) on May 17, 2011. As of March 30, 2011 there were 243,382 notes outstanding, which can be converted into 7.2 million shares of common stock.
Read more - OncoSec closes on $1.1 million
OncoSec Medical Inc. (OTC:ONCS) raised $1.1 million of new capital through the issuance of units to three institutional investors. OncoSec issued 1,456,000 units at a price of $0.75 per unit for gross proceeds of $1,092,000. The company develops technology to treat solid tumor cancers.
Read more - Praesidian Capital pours $19 million into PromptCare Cos
Praesidian Capital invested $19 million of second lien debt in The PromptCare Companies, Inc. and its sister company PromptCare Home Infusion LLC to support the acquisition of Pro2 and recapitalize its balance sheet. PromptCare, a portfolio company of MidMark Capital, is a regional provider of home-based, specialty respiratory products and infusion therapy services.
Read more - Patient Safety closes on $7.1 million
Patient Safety Technologies Inc. (OTC:PSTX) announced the closing of a $7.1 million common stock financing. The investors, led by a new institutional investor, together with several existing shareholders and certain members of senior management, purchased 9.48 million shares of common stock at a price of $0.75 per share. Proceeds from the offering will be used for general corporate purposes including investing in the continued market penetration of the company’s core offering, the SurgiCount Safety-Sponge System.
Read more - BD buys Accuri
Becton, Dickinson & Co. (NYSE:BDX) signed a definitive agreement to acquire Accuri Cytometers Inc., an Ann Arbor, Michigan-based company that develops and manufactures personal flow cytometers for researchers. The acquisition is expected to close during the third quarter of fiscal year 2011. The financial terms of the agreement were not disclosed.
Read more - HealthTap drums up $2.4 million from Mohr Davidow and angel investors
Silicon Valley-based start-up HealthTap announced it secured $2.35 million in its first round of funding from Mohr Davidow Ventures and a group of angel investors including Esther Dyson, Mark Leslie, Aaron Patzer and others, according to MobiHealthNews.
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Material from MedCity News was used in this report.