techDaily.info :: ScriptRx Secures$2.0MM in Venture Capital Funding

Thursday, January 08, 2009

ScriptRx Secures$2.0MM in Venture Capital Funding

Posted: 6/10/2002

Posted By:	ScriptRx		Contact:	Susan Delz
Phone:	561-805-5935		Email:	susan.delz@scriptrx.com

ScriptRx Secures $2.0 MM in Venture Capital
Funding From CrossBow Ventures

New Capital will Accelerate ScriptRx’s Ability to meet Demand for the
ScriptRx System and Expand Services

West Palm Beach, FL (June 10, 2002) ScriptRx, Inc., a national provider of interactive healthcare systems, recently secured $2.0 MM in venture capital funding from CrossBow Ventures to accelerate the company’s ability to meet the demand that has developed for ScriptRx Systems in emergency rooms nationwide. Additionally, the capital will be used to expand the services to include computerized physician order entry and charting.

The ScriptRx System offers physician-friendly, touch screen computer systems that incorporate a fingerprint scanner and laser printer. The system provides emergency department physicians with fast, secure computerized prescription-writing and printed discharge instructions as well as access to clinical and pharmacological reference materials.

The touch screen system has seen an increase in demand since the company began offering the system to qualifying hospitals in February 2001. The easy to use systems are expected to dramatically reduce life-threatening prescription and discharge instruction errors caused by illegible or confusing handwriting.

“Currently, ScriptRx has over 260 machines installed in over 110 hospitals throughout the US,” said Douglas Wheeler, president and CEO. “We are installing systems at a rate of 20 a month with over 100 hospitals waiting for the systems. With the additional funding from CrossBow Ventures, we expect to accelerate our install rate and begin the application expansion to better serve our growing network of hospitals.”

“ScriptRx has proven to be an industry leader within the interactive healthcare services market. The company has developed an excellent, user friendly technology which is enjoying a high degree of acceptance by physicians,” said Stephen Warner, CEO of CrossBow Ventures. “Our investment decision was reinforced by the company’s industry knowledge and the positive responses received from emergency room doctors and pharmaceutical companies.”

ScriptRx Systems have been deployed in cities nationwide including New Orleans, Boston, New York, Dallas, Las Vegas, Nashville, Miami and West Palm Beach. Hospital’s can apply for ScriptRx Systems by visiting www.scriptrx.com.

About ScriptRx
ScriptRx is a leading national provider of interactive healthcare systems. Managed by a team of professionals with significant prior experience in emergency departments, hospital administration and computer technology. ScriptRx is devoted to utilizing advanced computer technology and instant communication benefits to advocate patient safety and reduce the number of life-threatening mistakes that occur due to illegible or confusing handwriting. Strategic investors include Deutsche Asset Management (DeAM), Lighthouse Ventures and CrossBow Ventures. For information on ScriptRx visit www.scriptrx.com or contact Susan Delz at 561-805-5935 or susan.delz@scriptrx.com.

About CrossBow Ventures
CrossBow Ventures manages $160 million through two venture capital funds, CB Private Equity Partners LP, and Alpine Venture Capital Partners LP, a Small Business Investment Company (SBIC). CrossBow Ventures leads investments in the Southeastern United States and co-invests across North America with other institutional partners in information technology, telecommunications and healthcare. For more information visit www.cb-ventures.com.

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