FDA Grants Micro Interventional Devices, Inc. Breakthrough Device Designation for the MIA™-T Percutaneous Tricuspid Annuloplasty System

NEWTOWN, Pa., May 27, 2021 /PRNewswire/ — Micro Interventional Devices (MID) has received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its MIA™-T Percutaneous Tricuspid Annuloplasty System.  The MIA-T system treats moderate-severe tricuspid regurgitation (TR) via a 12F catheter-based system.

MID develops proprietary Transcatheter Cardiac Repair (TCR) technologies addressing unmet needs in the treatment of structural heart disease.  The company’s products are designed to achieve surgical efficacy with percutaneous safety.

The safety and performance of MIA-T has been demonstrated in the STTAR, Study of Transcatheter Tricuspid Annular Repair, conducted at 6 European clinical sites.  The encouraging 12-month follow up data was submitted for CE Mark approval in December 2020.  The company anticipates receiving both CE Mark approval and IDE approval to initiate the STTAR-US pivotal study by the end of 2021. Publication of the STTAR data is also pending.

“Significant two and three grade reductions in tricuspid regurgitation (TR) have been achieved acutely and maintained at 12-month follow-up with no reported incidence of device or procedure-related mortality, stroke or myocardial infarction,” stated Michael Whitman, President and CEO of MID.  “The reductions in TR achieved have significantly improved the quality of life for these patients, resulting in an average improvement of 36% from baseline on the Minnesota Living with Heart Failure Questionnaire.”

Breakthrough device designation will allow MID to have more frequent and timely interactions with FDA, including “sprint discussions,” support on data development plans, and regular status updates via teleconferences and face-to-face meetings to expedite the clinical trial process as the company shifts its focus towards a US-based clinical trial.

“There is growing interest in the percutaneous treatment of tricuspid regurgitation as early clinical data for catheter-based technologies show promise for improving the quality of life in patients with severe TR,” stated Mathew Williams, MD, Chief, Division of Adult Cardiac Surgery and Director, CVI Structural Heart Disease Program at NYU Langone Medical Center.  “MIA-T appears to have advantages in treating a broad range of patients and in overall ease of use.  I am encouraged by the results of the European STTAR study and am excited for the US IDE approval.”

“The relative simplicity, safety and security of the MIA-T system will help many patients suffering from moderate-severe tricuspid regurgitation in the United States,” Michael Whitman, continued.  “Over 1.6 million people in the US alone suffer from TR and only 8,000 receive surgical treatment today.*  We expect that breakthrough device designation will speed the process to commercialization so patients, physicians and the healthcare system can benefit from this technology.”

*Data on File

About Micro Interventional Devices, Inc. (MID):

MID is a leader in Transcatheter Cardiac Repair (TCR) utilizing its proprietary percutaneous compliant fixation technology that emulates open surgical procedures addressing structural diseases of the heart.

MIA-T utilizes proprietary, compliant PolyCor™ anchors, the world’s first low mass polymeric implant designed to comply with normal physiological valvular function.  The MIA-T implant is engineered to plicate and comply with cardiac tissue once deployed.

MID is a privately held medical device company developing minimally invasive solutions for structural heart disease. MID’s primary focus is repairing the tricuspid and mitral valves while the heart is beating, eliminating the need for cardiopulmonary bypass surgery.

Company Contact:
Micro Interventional Devices, Inc.
Katherine Whitman
Director of Marketing
215 600 1270
info@microinterventional.com 
www.microinterventional.com

Katabat Attracts Significant Growth Investment from Tritium Partners and Terminus Capital Partners

News provided by

Tritium Partners; Terminus Capital Partners

Aug 05, 2020, 13:00 ET


WILMINGTON, Del., Aug. 5, 2020 /PRNewswire/ — Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today a strategic growth investment from Tritium Partners, a growth-focused private equity firm with extensive experience investing in fintech and financial services companies, and Terminus Capital, an enterprise software private equity firm. The investment provides Katabat with significant resources to expand and enhance its industry-leading suite of debt collection products. The transaction also represents an exit for Katabat’s venture backers, including Camden Partners, Osage Venture Partners and Activate Venture Partners. Terms of the transaction were not disclosed.

Katabat is a recognized global leader in cloud-based debt collection managed service software products. Founded by consumer lending experts, the Katabat platform has been built from the ground up to provide unparalleled ease and flexibility. The software synchronizes customer offers, implements customer workflows, and builds integrated content and treatments across all customer channels. Powered by machine learning, Katabat’s products are easily deployed to enable speed to ROI for its clients, and its products ensure full compliance with policy and regulatory guidance.

“We were made for this moment. Having begun operations during the 2008 financial crisis, we are battle-tested and ready to support our clients, both today, as they grapple with the economic effects of Covid-19, and in the future,” said Ray Peloso, President and CEO of Katabat. “We recognize the criticality of product functionality, flexibility, speed and auditability as our clients require unprecedented speed to react to today’s rapidly shifting credit environment.” Mr. Peloso added, “We are thrilled to have Tritium and Terminus as our partners as we enter the company’s next phase of growth.”

Chris Steiner, Principal at Tritium Partners, commented, “Katabat has created a world-class platform that delivers a clear and compelling return on investment to its clients, making it the debt collections software solution of choice for credit and collection professionals. We see significant potential for Katabat as a leader in a market that is increasingly seeking out intelligent, compliance-minded, and data-driven work-flow management capabilities that enable a true omni-channel experience for consumer customers throughout the entire credit lifecycle. No other platform can duplicate the unique capability that Katabat offers to its clients.”

Alex Western, Managing Director at Terminus, added, “We are focused on ensuring a quality customer experience and creating a transparent, positive presence in the sector. We are investing to expand Katabat’s go-to-market team and further enhance its product differentiation to meet the demand from clients who seek technology to improve operational success and better serve consumers.” Mr. Western also commented, “We are thrilled to be partnering with Ray Peloso, CEO, and Ye Zhang, Co-Founder and Head of Product Strategy, and we are confident that the company is well-positioned to dominate the market for debt collection software.”

About Katabat

With more than a decade of experience delivering debt collection solutions to global banks and debt collection agencies, Katabat combines collections and machine learning expertise to help clients engage with customers and increase collections. Katabat partners with lenders and collectors across multiple industries to stay at the cutting edge of debt management, machine learning, automation, regulatory compliance, and data security. To learn more about our full range of debt management products, contact Katabat at info@katabat.com.

About Tritium Partners

Founded in 2013, Tritium is a private equity firm focused on companies with exceptional growth potential. For over 17 years, both at Tritium and prior vehicles, Tritium’s founders have deployed over $850 million of equity capital while partnering with talented founders and executives to build market-leading companies. Tritium’s approach emphasizes creating long-term value through strategic growth initiatives and acquisitions, with a focus on internet and information services, financial and business services, and supply chain and logistics.

About Terminus Capital

Terminus Capital Partners is a private equity firm focused on business software companies, founded in 2017 and based in Atlanta, GA. Differentiated by its industry expertise, sourcing engine, operations playbook, and buy-and-build methodology, Terminus strives to be the premier partner for capital providers, bankers, and management teams in the enterprise software sector.

Contact:

For Tritium
Caroline Luz
Lambert & Co.
203-656-2829
cluz@lambert.com

or

Lisa Baker
Lambert & Co.
914-725-5949
lbaker@lambert.com

For Terminus
Alex Western
Alex_western@terminuscp.com

TRHC Fills the Information Gap on COVID-19 Proposed Therapies with a New Digital Resource

Moorestown, NJ, May 19, 2020 – Tabula Rasa HealthCare® Corporation (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today published on the web the TRHC COVID-19 Treatment and Therapy Digital Resource. Developed by TRHC’s Precision Pharmacotherapy Research & Development Institute, the resource provides a comprehensive analysis and clinical reviews of potential treatments and therapies for COVID-19.

“There are knowledge gaps surrounding the proposed treatments for COVID-19,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “To address this need, our Precision Pharmacotherapy Research & Development Institute completed a systematic review of literature on the latest COVID-19 treatments and therapies and compiled them into a single source, eliminating the need for providers to access multiple sources to understand treatment options.”

Currently, there are more than 20 therapies and treatments being studied across the globe. Many are being fast-tracked for immediate use, due to the unique conditions of the novel coronavirus and COVID-19.

“Designed for clinical use, our COVID-19 Treatment and Therapy Digital Resource provides an in-depth review of each medication’s mode of action, dosing guidelines, clinical trial information, adverse drug events, metabolism and elimination, as well as the proposed level of evidence based on the mechanism of action,” states TRHC Chief Scientific Officer Jacques Turgeon, BPharm, PhD.

TRHC Precision Pharmacotherapy Research & Development Institute Chief Operating Officer Veronique Michaud, BPharm, PhD adds, “We are constantly updating this resource with evidence from the latest clinical trials and journal articles. We feel this resource is what the clinical community needs to help sort through the vast number of treatments to determine the best course of action for the patients they treat.”

About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) is a leader in providing patient-specific, data-driven technology, and solutions that enable healthcare organizations to optimize performance to improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers, and other healthcare organizations. For more information, visit TRHC.com.

BA INSIGHT RECOGNIZED AS CHARTER MEMBER OF THE MICROSOFT CONTENT SERVICES PARTNER PROGRAM

BOSTON, MA – May 5, 2020 – BA Insight, a leading provider of internet-like search for enterprises, is pleased to announce its recognition from Microsoft as a Charter Member of the Microsoft Content Services Partner Program for the year of 2020. The Microsoft Content Services Partner Program is built and run to help organizations get the capabilities and control they need in their everyday work with an end-to-end content solution.  Charter Partners in the program are recognized as “Microsoft Preferred” based on proven success with Microsoft Content Services.

The Charter Members of the Microsoft Content Services Partner Program help organizations around the globe deploy the innovative Microsoft Content Services platform that integrates AI and cognitive services with existing Office 365, SharePoint, and Microsoft Teams technologies.  BA Insight is one of the charter partners being recognized for its proven customer success leveraging its connector-based software portfolio to create powerful, enterprise-wide cognitive search solutions leveraging Microsoft 365.

“As a long-term Microsoft partner, we are thrilled to be part of a program that helps drive adoption and retention of Microsoft products,” said Massood Zarrabian, CEO of BA Insight.  “Our technology connects knowledge with seekers, providing internet-like search for enterprises who want their organizational knowledge to be askable.  It has enabled Microsoft 365 customers to experience a new world of AI-driven enterprise search.”

About BA Insight

BA Insight is the leader in providing open, modular, AI-driven enterprise search solutions. We help organizations achieve digital transformation by enhancing the findability of critical information, bringing internet-like search across enterprise assets with our modular, scalable software. Our approach enables organizations to leverage their preferred search engines and AI platforms to provide employees with personalized and relevant search. Our software is helping millions of users worldwide, including at customers such as BearingPoint, Blizzard Entertainment, Chevron, DLA Piper, Duke Energy, Gilead, Nvidia, and Valero.

BA Insight is a Microsoft Gold Certified Partner, a member of the Microsoft Enterprise Cloud Alliance, and an Elastic Partner. For more information, please visit our website at www.bainsight.com, e-mail us at sales@BAinsight.com, call us at +1.339.368.7234, or follow us at @BAinsight.

ENCOURAGING RESIDENTS TO SWITCH TO ELECTRONIC PAYMENTS IS CRITICAL IN THE TIME OF COVID-19

April 27, 2020 — COVID-19’s greatest continuity challenge for payments is the handling and processing of paper checks. Whether residents drop checks at on-site offices or mail checks to lockboxes for processing, multiple systems and people are needed to physically handle the paper payments – some or all of which could be delayed with COVID-19 due to client responses and government requirements.

Clients are adapting their businesses to protect their staff while maintaining operations. Normally, residents drop rent and utility checks in the property drop box or with staff at the site office. Site managers – and leasing agents processing application fees and holding deposits – often spend many days per month focused solely on manually processing payments. COVID-19’s shelter-in-place orders may require site staff to work from home, where they do not have access to check-scanning hardware and systems to complete the processing of rent payment checks to the bank.

Similarly, checks processed at lockbox facilities could also be at risk for delayed payment processing. All lockboxes rely on U.S. Postal systems, couriers, and people working inside a secure processing center. Checks are extracted and scanned using very advanced, large equipment. However, in the worst-case scenarios, U.S. Postal Offices could shut down a processing center to protect workers or a legal mandate could close all lockboxes. Even if not closed, lower density requirements could result in a reduction of check processing throughput and affect the flow of funds.

Electronic payments are more critical now than ever to ensure the continuity of cash flow. ClickPay enables safe, contactless remote payment options—like ACH, credit & debit card, and bank bill pay, which are received quicker, reducing the potential for late fees. Our bilingual resident call center is available 24/7 to help any resident who may need extra support making their first online rent payment. In addition, ClickPay’s real estate-specific lockbox migrates all resident payments out of the office and into our check scanning facilities. By removing all checks from on-site processing, property managers eliminate any potential risk of fraud.

Best practices from Property Managers who successfully drove electronic adoption include:

  1. Require residents to pay electronically (i.e., do not allow checks to be dropped off at offices)
  2. Communicate continually through various channels, including email, flyers, and posters
  3. Provide community welcome packages that include online payment and Resident eMoney Order instructions that can be used at move-in and recertification
  4. Text message reminders to sign up for online payments
  5. Remove drop boxes from the property
  6. Help residents who drop off or mail in checks to setup online recurring payments
  7. Fee absorption or crediting after the fact
  8. Temporarily removing fees associated with late payments
  9. Leverage on-site human resources to guide residents through ClickPay (specifically, Invitation Wizard)
  10. Utilize fee collection pages for the one-off payments that typically come through
  11. Take the opportunity to collect emails from residents in a time where digital communication is key

 

The tactics listed above have helped many ClickPay clients achieve above industry average payment collections, even in areas affected the most by COVID-19, such as New York City and Florida. Roscoe Property Management, Texas’ third largest PMC and ClickPay client, reported that 95% of its 38,000 apartments under management made online payments through ClickPay by mid-April. By providing their renters with the option to pay online and waiving all late fees and credit card transaction fees, Roscoe exceeded the industry average reported for April rent collection. Please contact your account manager to discuss which best practices can improve your electronic adoption and help you achieve full rent payment collection.

About ClickPay

The complete platform for automating 100% of real estate payments.
As the industry-leading platform for automating real estate receivables, ClickPay accepts all payment methods, including paper checks, e-checks (ACH), cash, and credit & debit cards. ClickPay delivers integrated print and e-bill presentment and payment services to increase operational efficiencies and enable profitable growth. Shaping the future of real estate billing and payments with innovative products and services, ClickPay provides property management companies with customizable solutions to connect with their tenants, residents, and homeowners. To learn more, go to www.clickpay.com.

BA INSIGHT INTRODUCES ENTERPRISE SEARCH FOR AMAZON WEB SERVICES

BOSTON, Mass. – February 26, 2020– BA Insight, a leading provider of internet-like search for enterprises, has announced availability of its connector-driven software portfolio for Amazon Web Services (AWS).  Using BA Insight’s products with AWS makes enterprise search askable, enabling users to more quickly and efficiently locate the information they need regardless of where it resides.

BA Insight for Amazon Web Services brings the following benefits to AWS customers:

Connectors to over 70 enterprise systems to provide a unified search experience.

The ability to leverage Amazon Elasticsearch Service as a fully managed, scalable and secure search platform by itself or in conjunction with Microsoft 365, SharePoint, Elasticsearch, or Solr.

SmartHub integration with Lex to provide Internet-Like Natural Language Query and a personalized internet-like experience, including Bots, Dynamic Relevancy Tuning, and Machine Learning-driven Recommendations.

Automated content analysis and tagging for greater findability and content understanding:

AutoClassifier for Rules or Machine Learning-based meta tagging

Natural Language Processing by Amazon Comprehend to automatically identify and extract key concepts, language, and sentiment from documents

Image and video analysis and tagging using Amazon Rekognition

Amazon Comprehend Medical automates the task of extracting medical information from documents

In-App Search takes AI-driven search directly to the users from within the apps they use every day, such as ServiceNow, Teams, Salesforce, NetDocuments, Dynamics, and Outlook

By seamlessly integrating into their existing work practices, users don’t need to learn a new application or change their processes. They simply get better information – faster and easier.

“In support of providing customers with full freedom in their choices of search engines and AI platforms, BA Insight is the only company with support for five search engines and three AI Platforms while providing connectivity to more than 70 enterprise systems,” said Massood Zarrabian, CEO of BA Insight. “This is in response to a market that is commonly rejecting complex, closed, integrated platforms that take months to deploy and half a dozen or more resources to manage it.”

Support for Amazon Comprehend and Amazon Elasticsearch Service, and Amazon Comprehend Medical is available immediately.  Support for Amazon Rekognition and Amazon Lex is scheduled to be delivered in the second quarter of 2020.

About BA Insight

BA Insight is the leader in providing open, modular, AI-driven enterprise search solutions. We help organizations achieve digital transformation by enhancing the findability of critical information, bringing internet-like search across enterprise assets with our modular, scalable software. Our approach enables organizations to leverage their preferred search engines and AI platforms to provide employees with personalized and relevant search. Our software is helping millions of users worldwide, including at customers such as BearingPoint, Blizzard Entertainment, Chevron, DLA Piper, Duke Energy, Gilead, Nvidia, and Valero.

BA Insight is a Microsoft Gold Certified Partner, a member of the Microsoft Enterprise Cloud Alliance, and an Elastic Partner. For more information, please visit our website at www.bainsight.com, e-mail us at sales@BAinsight.com, call us at +1.339.368.7234, or follow us at @BAinsight.

KATABAT APPOINTS GUY ABRAMOVITZ AS NEW CFO: Veteran Finance and Consulting Leader to Support Strategic Growth

Wilmington, DE — January 23, 2020 — Katabat, a leading global supplier of debt management software solutions, recently hired Guy Abramovitz as chief financial officer. A finance industry veteran, Abramovitz brings over two decades of experience to the Katabat team in both software product and services businesses.

“Katabat is in a time of tremendous growth, and Guy’s experience in strategic deal-making and growth capital is a major asset,” said Ray Peloso, CEO, Katabat. “His deep financial knowledge and business acumen will help propel Katabat towards its next stage of development.”

Prior to joining Katabat, he served as the CFO of e-commerce platform company Workarea (formerly WebLinc) where he secured additional capital, refinanced the company’s debt, and ultimately managed the sale of the company’s services business.

At Veterinary Practice Partners (VPP), Abramovitz directed the finance team as the company grew by a factor of five through an aggressive acquisition strategy. He also led the recapitalization of the company through its sale to a private equity investor. Prior to VPP, Abramovitz worked for several national accounting and consulting firms, specializing in transaction services.

“I’m excited to join Katabat as it continues to transform customer experiences within the debt collection industry,” said Abramovitz. “The company has put in place the right pieces to take advantage of the market opportunity before it, and I look forward to continuing to drive the financial strategy that combines developing our innovative technology with globally scaling the business.”

Abramovitz holds a BBA in accounting from Temple University’s Fox School of Business Honors Program, and an MBA in finance from the Wharton School of the University of Pennsylvania.

SmartTRAK — “AVA 2019: KEY OPPORTUNITIES FOR IMPROVEMENT IN VASCULAR ACCESS.”

SmartTRAK Life Sciences New and Analysis Blog — November 22, 2019 — Novel Securement Device Making Inroads

Securement of both central line and peripheral catheters is critical as poor securement can lead to dislodgement, infection and/or phlebitis. The vast majority of products used today for securement include basic film (polyurethane) dressings, film dressings with stabilization and mechanical securement devices. 3M holds the leadership position in dressings with its Tegaderm line of products while BD leads the mechanical securement with its StatLock Stabilization Devices. However, a new class of product is emerging and making inroads in the market with impressive clinical and cost-effectiveness data.

Adhezion Biomedical’SecurePortIV Catheter Securement Adhesive, a cyanoacrylate-based liquid adhesive, provides securement but also seals the insertion site from bacteria and was FDA cleared as a 510(k) Class II medical device in Sept 2017. The opportunity for SecurePortIV adhesive is impressive, at ~$6.00 per insertion site the total market opportunity for PIVs and central lines is estimated by SmartTRAK at $1.5B. With only a 20% adoption rate, a potential of $300MM exists. This opportunity may become a reality for Adhezion Biomedical as SecurePortIV has been the subject of numerous clinical trials demonstrating clinical benefit and cost effectiveness, with several having results presented at the recent AVA meeting.

The oncology/hematology department at the Mayo Clinic Arizona found securement and stabilization of its peripherally inserted central catheters (PICCs) needed improvement. Dr. Joan Ralph Webber, a clinical nurse specialist, reviewed alternative devices associated with securement and stabilization and was impressed with published results associated with tissue adhesive. Webber championed a clinical study to compare the use of SecurePortIV adhesive with a securement dressing to a retrospective cohort using an antimicrobial disc and an engineered stabilization device. One year later, the use of SecurePortIV adhesive demonstrated a decrease in migration rates to 1.4% from 19.35%, no CLABSI’s for 5 consecutive quarters and cost benefits of the tissue adhesive compared to the use of a chlorhexidine disc and engineered securement device. The facility is currently working towards approval for use of SecurePortIV adhesive across all catheter lines.

In another study, Jennifer Thompson, Vascular Access Manager at Texas Health Huguley Hospital Fort Worth South, presented results of four separate study protocols using a variety of products, that were tested to evaluate dressing adherence, moisture presence, skin integrity and average dwell time. The fourth and final protocol had only one item added to the standard protocol – use of SecurePortIV adhesive to the insertion site. Use of SecurePortIV adhesive in the dressing protocol demonstrated an impressive decrease in PIV disruption from 70% to 18% while achieving an 87% completion of therapy rate. A cost analysis determined use of SecurePortIV adhesive will save the hospital $407k of which $204k are material costs. Plans at this facility are to adopt SecurePortIV adhesive for use on all catheters.

Other impressive results were presented from several hospitals including many children’s hospital where benefits were seen in reduced dressing changes, decreased bleeding, lower infection rates and reduced dislodgement. With these impressive results, SmartTRAK talked with Adhezion Biomedical’s Chairman and CEO, Pete Molinaro about next steps moving forward.

Molinaro stated, “Our strategy is to continue to conduct meaningful clinical trials in an effort to expand SecurePortIV adhesive’s claims and further validate the already presented impressive results. We are grateful for the enthusiastic response shown by the vascular access clinical community for this product and gratified to hear that key opinion leaders view SecurePortIV adhesive as the next standard of care.”

MOVISTA ACQUIRES NATURAL INSIGHT, CREATING CLEAR LEADER IN RETAIL EXECUTION AND WORKFORCE MANAGEMENT TECHNOLOGY

Retail technology leaders join forces on a mission to save brick-and-mortar by improving customer experience through flawless in-store execution

BENTONVILLE, Ark. and Sterling, Va. – October 21, 2019 – Movista Inc., provider of the leading advanced, mobile-first retail execution and workforce management platform, announced today the acquisition of Natural Insight, a retail technology provider and its largest competitor. The milestone move, backed by New York-based private equity firm Level Equity, brings together two of the largest domain leaders in retail execution technology to greatly consolidate the marketplace.

The continued rise of e-commerce giants has placed brick-and-mortar retailers under tremendous pressure to provide superior in-store experiences in order to remain competitive. This includes ensuring that shelves are fully stocked and displays are uniform across multiple locations. As retailers navigate a market experiencing seismic shifts that many market watchers say threaten the very existence of the brick-and-mortar experience, the costs tied to underperformance are steep.

In fact, IHL recently estimated that out-of-stock items resulted in $144B in lost revenue for U.S. retailers and brands in 2018 alone. To help retailers, brands and service providers perfect their in-store execution, Movista and Natural Insight together bring to market innovative and intuitive solutions that address new and evolving challenges presented by retail’s changing landscape.

“In today’s rapidly evolving retail environment, customer experience is critical. Physical stores have to look great, and products have to be where expected,” said Stan Zylowski, co-founder and CEO of Movista. “Stefan and his team at Natural Insight share our passion for value delivery and customer-focused innovation. Our technologies ensure the shopper finds what they want, when they want, where they want. Together, we will lead the way to a more mobile, agile and collaborative retail environment that delivers tangible, measurable returns for our customers.”

For more than ten years, both Movista and Natural Insight have provided tech-forward solutions to retailers, manufacturers and service companies with field teams seeking to drive operational efficiency and stabilize sales. As two industry powerhouses, Movista and Natural Insight have facilitated the successful completion of more than 63 million work assignments around the world by more than 100,000 workers combined.

“Natural Insight has been proudly supporting the retail ecosystem for more than 10 years,” said Stefan Midford, president and CEO of Natural Insight and newly appointed chief customer officer at Movista. “As we look to our next phase of growth, joining forces with Movista will ensure our customers around the world have the tools they need to stay ahead of a constantly evolving retail landscape. I’m excited for what the future holds and tackling retail’s biggest challenges together.”

Movista and Natural Insight will continue to support customers and maintain their respective platforms. As part of the transaction, Movista will also own a majority stake of Natural Insight’s Capango brand. Powered by Natural Insight, Capango is a mobile retail job matching platform that connects job seekers with rewarding opportunities without resumes. Capango will play a pivotal role as Movista seeks to address the rise of the “gig” economy and the need for on demand labor.

About Movista

Founded in 2010, Movista Inc. is a software-as-a-service (SaaS) company that provides the industry’s leading mobile-first retail execution and workforce management platform, ONE by Movista. The enterprise platform replaces or integrates a multitude of disparate systems into one user-friendly, mobile interface. Behind the simple end-user experience are robust features that encompass scheduling, tasking, project management, file sharing, training, ordering, returns, routing, time keeping, expenses, mileage and much more. Movista serves all stakeholders in the retail ecosystem including brands, retailers and service providers. To learn more about Movista, visit https://movista.com/ and follow on Twitter @MovistaOne.

About Natural Insight 

Founded in 2009, Natural Insight provides a cloud-based advanced retail execution and workforce management platform for consumer brands, retailers and merchandising and marketing agencies. With Natural Insight, all players across the retail ecosystem are empowered to improve in-store experience, grow sales, increase ROI of distributed workforce and capture and report on field data to power continuous improvement. Natural Insight is headquartered in Sterling, Va., with multiple international offices. To learn more about Natural Insight, visit https://www.naturalinsight.com/ and follow on Twitter @naturalinsight

HEALTH-E COMMERCE RECEIVES MAJORITY EQUITY INVESTMENT FROM BEECKEN PETTY O’KEEFE & COMPANY

February 19, 2019 —

Health-E Commerce, the parent company of the nation’s leading family of e-commerce brands dedicated to pre-tax health and wellness products and services, today announced that it has received a majority equity investment from Beecken Petty O’Keefe & Company (“BPOC”), a leading Chicago-based private-equity firm focused exclusively on the healthcare industry. The transaction is effective immediately and financial terms were not disclosed.

Based in New York, Health-E Commerce is the parent company of pre-tax health and wellness shopping sites, FSAstore.com and HSAstore.com, the newly-launched site, WellDeserved, a hub for redeeming corporate wellness rewards, and Caring Mill — the Company’s private label line of health products that provides a donation with purchase to Children’s Health Fund. Health-E Commerce CEO and founder Jeremy Miller will continue as the Company’s CEO and remains a meaningful shareholder in the business.

“At Health-E Commerce, we focus on a powerful and growing market segment of more than 60 million consumers with nearly $100 billion in spending power. Our rapid growth over the past decade illustrates the increasingly important role pre-tax health and benefits play in the lives of millions of Americans,” said Miller. “Alongside BPOC, we will launch a whole new chapter of growth and help millions more Americans take advantage of products and services that support their health and maximize their benefits through our shopping sites, educational content and consumer advocacy.”

“As more Americans use their workplace benefits to craft personalized solutions for managing their health in an era of ever-rising costs, Health-E Commerce’s brands have emerged as a trusted solution for millions of consumers shopping with FSA or HSA dollars, or redeeming rewards from their corporate wellness programs,” said Grant Patrick, Partner at BPOC. “We believe the Company is well positioned to respond to growing consumer demand for more innovative health benefits and to capitalize on the rapid expansion of the health and wellness benefits space.”

For nearly a decade, Health-E Commerce’s family of brands have devised solutions for the biggest consumer-facing problems related to spending pre-tax health benefits through better consumer education and guaranteed eligible and authentic health products. Health-E Commerce has built the only partner network of more than 250 third-party administrators (TPAs) and more than 300 direct relationships with health and wellness brands to serve over 60 million Americans who currently utilize tax-advantaged accounts like Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) and corporate wellness programs.

Financo acted as financial advisor in the transaction and O’Melveny & Myers LLP acted as legal advisor to Health-E Commerce.Paul Hastings LLP served as legal advisor to Beecken Petty O’Keefe & Company.

About Beecken Petty O’Keefe & Company

Beecken Petty O’Keefe & Company is a Chicago-based private equity management firm founded in 1996 to invest in middle-market buy-out transactions, recapitalizations, and growth platforms exclusively in the healthcare industry. BPOC has structured, managed and realized investments on behalf of institutional and individual investors for over two decades. Since inception, BPOC has raised four funds with aggregate capital commitments of over $1.3 billion. The firm is headquartered in Chicago, IL. For more information on BPOC, visit http://www.bpoc.com.

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