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INTOUCH TECHNOLOGIES SECURES $12.1 MILLION SERIES C FUNDING LED BY GALEN PARTNERS
Santa Barbara, CA, September 29, 2005 - InTouch Technologies, Inc. (d.b.a. InTouch Health), the leader in remote presence technology for healthcare providers, today announced the completion of a $12.1 million Series C financing.
The round was led by Galen Partners, a New York-based private equity firm specializing in healthcare investing. Galen was joined by existing investors including Acacia Venture Partners and InvestCare Partners, LP, a healthcare private equity fund managed by Beringea, LLC. Terms of the financing deal were not disclosed.
In conjunction with this equity financing, David W. Jahns, a Galen general partner, and William D. Williams, a special venture partner with Galen, have joined the InTouch Health board of directors. In addition to his extensive corporate finance, and healthcare industry experience, Mr. Jahns brings multiple and valued industry relationships and contacts to InTouch Health; while Mr. Williams brings the benefit and perspectives of his extensive healthcare senior management and sales and marketing experience to the InTouch Health team.
Regarding the announcement, Mr. Jahns said, "the remote presence robotic solutions developed by InTouch Health deliver both improved patient care and tremendous provider efficiencies. We at Galen Partners are very excited about collaborating with the Company's innovative and experienced management team."
Yulun Wang, Ph.D., chairman and CEO of InTouch Technologies, said, "We are very pleased with our selection of Galen Partners as the lead for our Series C financing. They have tremendous domain expertise, a proven and significant track record of successes, and perhaps most important, the ability to partner well with their portfolio companies."
About InTouch Technologies
InTouch Technologies, Inc. (d.b.a. InTouch Health) is a privately held company based in Santa Barbara, CA. The company is pioneering remote presence technology for hospital providers. Through a proprietary communications and mobile robotic platform, the RP-6 Remote Presence Robotic System, doctors are able to consult with hospital-based patients and staff more easily and frequently, thereby improving hospital throughput, physician efficiency and quality of care.
About Galen Partners
Galen Partners is a New York-based private equity firm with an investment emphasis in companies within the medical device, technology-enabled outsourcing services and specialty pharmaceutical sectors. Our investment strategy is based on an approach called Collaborative Capital - a combination of focus, growth and expertise that enables us to work collaboratively with company management teams to create disruptive strategies that not only generate revenue growth, but also help firms achieve their full market potential. Companies we have invested in include: Pyxis Corporation, MedAssets, MiniMed Inc. and Ocular Sciences. For more information about Galen Partners please visit www.galenpartners.com. |
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