Proventix Secures Strategic Growth Funding
BIRMINGHAM, Ala. (April 8, 2014) Founders Investment Banking, LLC (“Founders”) is pleased to announce that Proventix Systems, Inc. (“Proventix”) has completed a growth capital funding round with a strategic investor. Headquartered in Birmingham, Alabama, Proventix delivers a multimodal solution to the healthcare industry that improves caregiver hand hygiene compliance and reduces instances of healthcare-associated infections (“HAIs”) among patients. Utilizing best of breed RFID technology, Proventix leads with a data-centric approach which delivers valuable information, compelling clinical results, and broad operational benefits to clients. Recognized as a pioneer and industry leader in the growing infection control space, Proventix plans to use this investment to execute on the company’s aggressive growth plans and to support both domestic and international distribution agreements.
“By implementing a data-driven approach with role-based analytics and individualized feedback, our team has been able to successfully address the keystone event tied to HAIs as well as generate sustainable results for clients,” stated Harvey Nix, Founder and CEO of Proventix. “Education is critical to improving hand hygiene compliance, and our strategy has been to influence the clinical culture through positive reinforcement and actionable intelligence. This method secures support at all levels of the organization and also produces a clear and measurable ROI from a financial and human capital standpoint. This capital, coupled with a value-added partner, will allow us to expedite several growth initiatives as well as formalize key partnerships that will broaden Proventix’s reach.”
Zane Tarence, Managing Director of Founders’ Technology Practice, stated, “Our team was especially impressed with the technology foundation and differentiated strategy that Proventix employed. Harvey and his team’s leadership position in the infection control space gives them an advantage over competitors who have only a handful of implementations and devote minimal time to understanding long-term clinical sustainability. With a continued shift towards outcome-based funding, hospitals are highly incentivized to address HAIs and Proventix is well positioned to meet this highly personal and growing need. The company has a unique opportunity to meaningfully impact how care is delivered and the Founders team is excited to watch Harvey and the Proventix team execute on this strategy.”
About Proventix Systems, Inc.
Proventix Systems, Inc., based in Birmingham, Alabama, is a RFID technology company whose mission is to eliminate the human and economic costs of infectious disease in healthcare while improving safety, quality and efficiency. They provide tools and services for quality compliance monitoring, active point of care communication, and successful behavior modification. Visit: www.proventix.com.
About Founders Investment Banking, LLC
Founders Investment Banking is a merger, acquisition & corporate finance advisory firm serving middle-market companies. Founders’ industry focus is on software, internet, digital media, healthcare, and oil & gas companies located worldwide as well as companies based in the Deep South and across a variety of industries. Founders’ skilled professionals, proven expertise and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to assist Founders Investment Banking with securities related transactions, certain Principals are registered investment banking agents of M&A Securities Group, Inc., member FINRA/SiPC. M&A Securities Group and Founders are not affiliated entities. For more information, visit www.foundersib.com.