Lincor Solutions Investment by Edison Ventures
Ireland
GrowthPoint Technology Partners, LLC acted as the financial advisor to Lincor Solutions on its $9.5M fundraise from Edison Ventures, a well-known New Jersey-based expansion-stage investor.
Previously headquartered in Cork, Ireland, Lincor will move its headquarters to Nashville, TN as part of the transaction. R&D and development facilities will remain in Cork.
Lincor’s MEDIVista system is a best-of-breed point-of-care computing platform. MEDIVista brings communications, medical data, and other valuable information to the point-of-care to create value for both patients and caregivers.
The proceeds of the transaction will be used to accelerate the company’s growth in the United States as well as expand product development and provide liquidity for existing shareholders.
Andrew Patton, Vice President at GrowthPoint, said, “Lincor has developed an exceptional platform in MEDIVista, and proof of this is the great commercial success the company has had in Europe. This new investment from Edison will allow the company to drive further growth in US sales as well as to continue the development of a world-class product offering. This is a company to watch.”
Lenard Marcus, Edison Ventures Principal who led the investment, noted, “Lincor’s technology acts as the primary point of information integration and distribution for patients. Hospitals utilizing the technology have demonstrated increased physician-patient interactions, lower patient re-admissions, and an improvement in clinical outcomes. Several U.S. customers have increased their HCAP scores since implementing the product.” Tom Vander Schaaff, Edison Partner who led diligence, said, “Lincor’s customer retention has been impressive to date; customers noted the product’s ability to improve patient communication and outcomes.” Lenard Marcus joined the Board of Directors, along with Dick Cook, Edison Director Network member.
Lincor CEO Richard Cooke stated, “Lincor is an ambitious company with a unique technology at the center of healthcare IT. The healthcare industry is experiencing tremendous cost and care delivery challenges particularly in the United States. This financing will enable us to aggressively expand our market presence in the U.S. and accelerate our product development. We view this investment by a world class investor like Edison Ventures as a fantastic endorsement of our technology, track record and management team.”
GrowthPoint, with offices in Silicon Valley, London, and Tel Aviv, provides financial advisory services to innovative companies around the world.
For more information, see the full press releases: