Thursday, March 31, 2011
Passport Health Communications announced today it has achieved full accreditation with the Health Information Exchange Accreditation Program (HIEAP) from the Electronic Healthcare Network Accreditation Commission (EHNAC). EHNAC’s HIEAP accreditation recognizes excellence in health data processing and transactions, and ensures compliance with industry-established standards and HIPAA regulations. Passport will post its release on its site.
Wednesday, March 30, 2011
From today's "Inside Baseball" edition via email from Jarrard Phillips Cate & Hancock, the Nashville healthcare public communications firm (not yet posted here), in part, "A small circle of Nashville heavy hitters – Fred Goad (investor through Voyent Partners and founder of Envoy Corp.), Joel Gordon (local investor, former head of HealthSouth and co-founder of Surgical Care Affiliates), Jim Sohr (local investor and former head of AIM Healthcare) and Dave Swenson (investor through SSM Ventures and Coleman, Swenson & Booth ) just to name a few – have a big deal in the works [...] to recapitalize Chicago-based Advent Health Partners, a revenue cycle management company..."
Nashville-based Angel Capital Group has invested an unspecified amount in a recently reopened C-round raise for Screampoint, a data-visualization software and services provider with offices in Menlo Park and abroad, according to a release. ACG CEO Rachael Qualls told VNC that ACG learned of the opportunity through an ACG angel. Screampoint's C-round remains open and will eventually close with about $3.5MM total, she said. Previous ACG coverage on VNC is here.
Aegis Sciences, the drug-abuse and -efficacy forensic testing service, is suing California-based Millennium Laboratories, alleging unfair competitive practices including offering inducements to physicians. The NBJ reports. An earlier VNC story on Aegis.
Nashville-based HealthStream announced it spent $3.5MM cash to acquire 50% of SimView, a Laerdal education debriefing video system essential in learning processes; and, announced it had changed its line of credit arrangement with SunTrust, partly to support growth efforts.
Brentwood-based Digital Reasoning Systems and Cloudera (Palo Alto) announced further enhancement of their data-analytics partnership. Release here.
Tuesday, March 29, 2011
Stephen Collins spent five years tightening-up the-Brentwood-based Juris, the lawfirm software company, for sale to LexisNexis. It wasn't all fun. Now, he's with Bazaarvoice, a mid-stage social-commerce company in Austin, as CFO. Our story is here.
DisastersNet, the Cool Springs firm that helps manage mobilization of resources in emergencies or other situations, added some Indiana hospitals to its clientele. Our previous report on DisastersNet is here, including the role of The Martin Companies.
Our 28 March NewsBits features news from Council Ventures, edo Interactive, University of Tennessee, Terry Esper, Kelly Tiller, Vaden Landers, crowd-funding, SimCenter and much more more, right here.
Stuart McWhorter has personally invested in 24/7 Sports, a Brentwood pro-college sports site that will certainly rival Rivals.com, the competitor created and later sold to Yahoo! by Shannon Terry. Our bit is here.
The rising tide of TNInvestco-funded portfolio companies suggests there may soon be a flood of information that will inevitably be disparate, confusing and incomplete (given NDA's, etc.). No word yet on how the TNInvestco assessment will be done. Our latest report is here.
The New York Times reports on the tsunami of cash flowing into venture funding, and recalls the 1999-2000 period when the 'hot and sexy' litmus test was a proxy for due diligence. HT: NashvillePost.com
Friday, March 25, 2011
Gov. Bill Haslam's Department of Economic and Community Development issued data today certifying that each of the state's 10 TNInvestco funds were, based on data submitted, compliant with state law and regulation in executing their funding programs during year one of TNInvestco. ECD spokesman Mark Drury indicated this afternoon he was uncertain regarding the Haslam Administration's next step in evaluating the performance and value of the program. The ECD report is here. Other background info is here.
Thursday, March 24, 2011
Edo Interactive in Nashville's Green Hills area has hired former Google and Groupon execs, per the company's news releases here and here. Earlier edo coverage on VNC here.
Wednesday, March 23, 2011
Market Center Management Company, the Dallas firm developing the Nashville Medical Trade Center, announced today that Vanderbilt University Medical Center has dubbed NMTC a preferred vendor for space and infrastructure for continuing medical education. Details of the relationship were not released. Related earlier VNC story.
Chattanooga's small-business owners gathered this week for a visit with U.S. House of Representatives Small Business Committee Chairman Sam Graves, and apparently there were plenty of complaints about financial and health reforms' impacts on hiring and lending. The TFP reports. Other VNC coverage.
Tuesday, March 22, 2011
Middle Tennessee State University has a new air-traffic control simulator and is addressing the nation's projected needs for thousands of new ATC's as veterans retire. WPLN NPR reports.
Gwyn Fisher, head of MPACT Memphis, is traveling abroad to spread the message of Memphis' allure for young professionals. The MDN reports it.
Wacker Polysilicone has donated $3MM to support training for its future workers at Chattanooga State Community College, the TFP reports. Oh.. and the State's giving Wacker $5MM in cash and $29MM in bonds, in gratitude for Wacker's recently announced expansion of its capacity and workforce, the TFP also reports.
Biotech, life sciences, pharmaceuticals... these are domains most Nashville entrepreneurs and investors feel are beyond their ken. Yet, there are amazing things going on here, as we report from Vanderbilt's new drug discovery center.
Yesterday's announcement of $400K in grants for eight promising Tennessee ventures in development may signal Tennessee Technology Development Corporation is back at-speed. The VNC story's here.
In the 21 items of this week's NewsBits, perhaps nothing is more intriguing than news that several Tennessee legislators are working to gain state support for a clean-coal initiative. All that and more, right here.
Will Pinkston, a former Bredesen Administration aide, has hung out his Sync Strategies shingle and is helping translate complex education and research issues into English. Our story's here.
Thursday, March 17, 2011
Acadia, an Atlanta behavioral health firm, is migrating from Atlanta to middle Tennessee, propelled by new CEO Joey Jacobs and $20MM in management-team investment. NashvillePost.com has it.
Tuesday, March 15, 2011
Venture Incite, the tech-transfer arm of Solidus and its emerging network of incubators, confirms it has several tech maturation grants in prospect. NashvillePost.com has it. Our earlier note on Venture Incite chief Scott Ewing (at left).
Monday, March 14, 2011
American Esoteric Labs, owned by Australia-based Sonic Healthcare, doesn't aim to sell hard nationwide, but will focus on being "local." The CA reports. Other news from VentureNashville.
Alstom, the French company now producing steam and gas turbines in a new plant in the Chattanooga area, this month shipped its first delivery. The TFP has it. Other VentureNashville coverage.
Well, having been in those shoes, we can't say we blame Nashville Medical Trade Center spokesman Cole Daugherty for stayin' on message. Here's our note.
Sunday, March 13, 2011
With Gov. Bill Haslam's State of the State a day away, Andy Sher of The Times Free Press reviews what's at stake, and how some state agencies and programs have prepared for the end of Stimulus funding. The TFP has it.
Tom Humphrey of the Knoxville News Sentinel provides detailed prognostication on the eve of Gov. Bill Haslam's first State of the State, looking ahead to the Administration's first budget submission. The KNS has it.
The Tennessean's Chas Sisk reports on the state's TNInvestco program, on the cusp of release of a formal report on the TNInvestco-chartered funds' performances. The story's here (and soon behind the cost wall).
Thursday, March 10, 2011
Oak Ridge National Lab's budget, like everything else right now is vulnerable to the federal budget axe, and that means clean-energy programs are in jeopardy of losing funding. Read about it.
Wednesday, March 09, 2011
HCA issued a press release this afternoon, saying the company's IPO has gone effective and will begin trading tomorrow, March 10, and should close by March 15 (the Ides?), raising an estimated nearly $3.8bn, with 126.2 million shares priced at $30.
Cybera, the Franklin, Tenn.-based data security and payment-card systems security provider, announed today it's taking its Cybera ONE suite national. A recent release describes the suite. They said they've added Mapco as a client, also.
TNInvestco fund Tennessee Angel Fund, an affiliate of Nashville Capital Network and the NCN sidecar fund, joined with FCA Venture Partners, an arm of Clayton Associates, to fund the B-round of incontinence-care specialist Silvercare Solutions. A quick take here.
Lieff Cabraser, the class-action litigation firm, announced that Vanderbilt University Medical Center and Meharry College will each get just over $1MM from a settlement related to marketing practices by Solvay Pharmaceuticals. The release is here.
The University of Memphis and UT College of Pharmacy are allying to offer an MBA for health-system pharmacy executives. The CA has it.
Investment and employment recovery in the 7-state region served by TVA is up only slight, said SVP John Bradley. The TFP has it.
Tuesday, March 08, 2011
Knoxville's Online Development named a new operations chief. The company helps major companies outsource electronic development work. The release is here.
Lipscomb University is launching a Center for Entrepreneurship with robust programming, just ahead. The Center will name an 'Entrepreneur of the Year' and host a pitch session for student entrepreneurs, among numerous other initiatives. Details here.
Gov. Bill Haslam said today he's eager to see the early results of TNInvestco funding, before judging the program. The Nashville Business Journal has it. NBJ also reported the Governor asserted Metro/Nashville government should continue paying a share of the cost of the Nashville Area Chamber of Commerce, story here.
Nashville's TriStar and Limestone TNInvestco funds have created a new venture for medical-device innovations, and have seed-funded it. The news was released today. Josh Nickols is the new company's first employee.
For the fourth consecutive year, Memphis has been chosen by the SBA for funding for a program designed to help increase the survival rate for businesses in the inner city. The CA has it.
Monday, March 07, 2011
Diversified Technologies Services founder Charles Jensen (left) received the American Society of Mechanical Engineers' Ozker award recognizing achievement in radioactive waste management, posted on the KNS site.
Hopes had grown we might land TyraTech, a VU portfolio company, but it's going elsewhere.. But, there's more encouraging news out of Nashville, Memphis, Chattanooga.. Plus, a new PodCamp and an Oak Ridge NL tech-investment forum debuts.. read about it here.
Baker Donelson Bearman Caldwell & Berkowitz landed a prominent technology attorney and has been quietly broadening its venture footprint. The story's right here.
A local panel discussion reveals a bit of the perspective of Townes Duncan, founder of Solidus, which has spawned JumpStart Foundry and other programs. Read about it here.
Thursday, March 03, 2011
America Service Group and Valitas Health Services (St. Louis) will merge, according to a release today. The headquarters will be in Brentwood.
Okay, so VNC finally just decided to opt-out of receiving deals from Groupon and Groupon wrote they were so sorry to see me go, they'd like to introduce me to Derrick, the 'guy who thought I'd like to receive Groupon offerings'. You click on that, out of curiosity, and you see a geek mesmerzied sitting live-vid at his PC and there's a button beneath the stream saying, "Punish Derrick." It was hard, but I passed. You're welcome, Derrick. (Okay, so what actually happens when you push the button?)
Memphis-based GTx, backed by Pitt Hyde and others, yesterday announced the end of its toremifine collaboration with Ipsen, which had stepped into the partnership slot after Merck left. The MDN reports.
Wednesday, March 02, 2011
Seed Hatchery and Solidus (JumpStart) announced their first 6-startup cohort for the Memphis Seed Hatchery incubator. The only one with an alpha website is StiQRd, technology for the digital loyalty wallet; others in the cohort (all with URL's parked) Tridyn, focused on electronic device recharging stations with digital marketing; Obeedo, online groceries with drive-through pickup; Krikle, which enables self-expression via GPS and Smartphone-enabled virtual graffiti wall; WTF Memphis (the acronym can't have the usual meaning), which relates to "domesticating wireless sensor networks"; and Work for Pie, a "Match.com"-ish for entrepreneurs and co-founders. The Seed Hatchery release is here. It says, in part, "Seed Hatchery is a mentorship-driven seed fund that invests to accelerate new companies through the early phases of starting up. It was founded by serial entrepreneur Eric Mathews in partnership with Solidus Company, one of the new TNInvestco venture funds. The Seed Hatchery startups will receive access to successful business leaders, an innovative 90 day cohort program to help them develop their startups, as well as $15,000 in capital. Incubation space and other operational support are furnished..." The tip o' the Seed Hatchery spear in Memphis is entrepreneur and consultant Eric Matthews. More VNC news is here.
As VNC reported earlier this week, Vanderbilt University is recruiting a leader for the newly created position of assistant vice chancellor for technology transfer and commercialization, with Korn Ferry's Atlanta's office doing the search. A source tells VNC the University is in discussion with several strong candidates, but that later-arrivers are welcomed, up to a point. VU's office of tech transfer and enterprise development has been led quite a while by Chris McKinney (left). Good chance the new AVC will be inplace by 1 July 2011. VU OTTED has made a visible push the past decade, but increased Administration emphasis on leveraging campus IP -- consistent with global trends -- is likely to benefit city, society and University.
We're certainly going to be hearing about Natalie Portman's Intel-competing, Harvard-attending verve, talent, brains and determination for a long time. The "Black Swan" star deserves the notice.
FexEx VP sustainability and environmental affairs Mitch Jackson has been named one of the nation's 100 thought leaders by Trust Across America. The MDN has it.
The NBJ reports that Tennessee GOP, including Gov. Haslam and Speaker Harwell, are emphasizing the private sector must create jobs, while government can create a better environment by reducing excessive regulation, etc. Read about it.
Tuesday, March 01, 2011
In less than a year, sale of 100-watt incandescent bulbs will be outlawed, as part of a U.S. energy-conservation initiative. Larisa Brass of KNS reports.