NYC Healthcare News



People hospitalized after stroke on a weekend more likely to die: Study

December 12, 2015

Tengion Inc. (Nasdaq: TNGN) is a clinical-stage, organ-regeneration company with programs for urologic, renal and gastrointestinal regeneration based on its proprietary Autologous Organ Regeneration Platform??. The company went public in April 2010 and raised $26 million in net proceeds. Recently, the company announced that it implanted its Neo-Urinary Conduit?? in the first patient as part of the ongoing clinical trial evaluating the company's lead product candidate in bladder cancer patients requiring a urinary diversion following bladder removal. In addition, Tengion has presented or published during, and subsequent to the third quarter, consistently positive preclinical results for its Neo-Kidney Augment??. The data represents the effect of its approach on kidney function in four different animal models of chronic kidney disease. Safeguard has deployed $9.0 million in Tengion since October 2008 and owns 5% of Tengion's outstanding common shares.

TECHNOLOGY PARTNER COMPANIES HIGHLIGHTS

AdvantEdge Healthcare Solutions, Inc. (AHS) is among the nation's 15 largest medical billing firms. Its proven, proprietary software delivers outsourced billing solutions to hospital-based physician groups, large office-based medical practices and surgery centers. AHS' state-of-the-art technology efficiently collects financial information and speeds the reimbursement of third-party claims and patient payments, enabling physicians to maximize revenue and decrease their billing and practice management costs. AHS continues to gain meaningful scale through organic growth and strategic acquisitions and expects 2010 revenues to exceed $30 million, up more than 95% from 2009 revenue. Safeguard has deployed $13.5 million of capital in AHS since November 2006 and has a 40% primary ownership position.

Beyond, Inc. is the largest network of niche career communities, providing access to thousands of top-tier industry and local websites in the U.S. and Canada. The Beyond Network of websites accounts for more than 12.5 million resumes and powers portals for some of the Internet's best-known and well-established career brands and media publishers. Subsequent to the third quarter, Beyond announced its acquisition of Orbius, a powerful social website platform that allows businesses to create and govern their own full-featured social or professional networking community website for their members, employees or customers. Safeguard has deployed $13.5 million of capital in Beyond since March 2007 and has a 38% primary ownership position.

Bridgevine, Inc. is an Internet marketing company that enables consumers to compare and purchase digital services online, including Internet, phone, VoIP, TV, wireless, music and entertainment. Bridgevine leverages its proprietary technology platform to acquire leads through numerous sources, including search, e-tail and retail, and then offers a bundle of services from its growing base of participating merchants. The company has expedited more than 8 million transactions, generating more than $1 billion in incremental revenue for partners. The addition during the quarter of Cox Communications, the nation's third-largest cable provider, is expected to contribute to a double-digit percentage increase in Bridgevine revenue in 2010. Bridgevine's advertising partners include Comcast, AT&T, Charter, Cox Communications, Netflix, Real Networks, Qwest, Time Warner Cable and Verizon. Safeguard has deployed $10.0 million of capital in Bridgevine since August 2007 and has a 23% primary ownership position.

MediaMath, Inc. provides enterprise-class digital media buying data and reporting services that allow advertising agencies to make the best use of billions of daily impressions. The company was first to market with its technology in 2007 and continues to build on its advantage. During the quarter, the company launched its enhanced media buying platform, TerminalOne?? (T1) with a user interface that allows marketers to directly manage campaigns according to specific objectives. Today, agencies and advertisers engage MediaMath for many of America's leading brands. MediaMath's revenue is expected to more than double year-over-year in 2010. Safeguard has deployed $6.7 million in MediaMath since July 2009 and has a 17% primary ownership position.

Portico Systems, Inc. offers innovative software and services solutions to health insurance companies that help reduce administrative, medical and IT costs. Company revenues have grown at double-digit rates over each of the past five years. Through recent acquisitions and contracts with global healthcare companies, including CIGNA and MMM Holdings, Portico now serves 39 healthcare customers with 42 million members annually. Safeguard has deployed $9.3 million of capital in Portico since August 2006 and has a 45% primary ownership position.

SafeCentral, Inc. develops security software and services to protect consumers in a connected world. During the third quarter, the company changed its name from Authentium after the sale of its Command antivirus solution to a subsidiary of Commtouch? (Nasdaq: CTCH). SafeCentral's software protects e-commerce transactions through an end-to-end, secured online environment. SafeCentral is available to consumers through various ISP partnerships as well as through a partnership with Trend Micro. Safeguard has deployed $9.3 million of capital in SafeCentral since April 2006 and has a 20% primary ownership position.

Swap is an Internet-based business that enables users to trade books, CDs, DVDs and video games using its proprietary trade-matching software. During the quarter, the company acquired the domain swap and rebranded itself from swaptree to increase awareness and its user base which has grown more than 15x since becoming a Safeguard partner company. Swap has begun to broaden its merchandise categories to include women's clothing. Safeguard has deployed $8.1 million of capital in Swap since July 2008 and has a 45% primary ownership position.

SOURCE Safeguard Scientifics