Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), the leading
specialty finance company providing venture debt and equity to venture
capital and private equity-backed technology and life science companies
at all stages of development, today announced that it has increased its
commitment to grow the operations of InfoLogix, Inc. (NASDAQ:IFLG), a
leading technology provider of enterprise mobility solutions for the
healthcare and commercial industries. Hercules invested an additional
$3.0 million of capital to fund the launch of two new strategic product
offerings with high growth potential.
"Hercules’ support of InfoLogix through the restructuring of its credit
facility and now in supporting their market leadership in healthcare
technology is a testament to our desire to work with the InfoLogix team.
By placing the strength of the Hercules balance sheet behind our
portfolio company, we are able to provide the necessary working capital
to fuel the launch of an exciting new product line that we believe will
significantly enhance the growth of this business,” said Manuel A.
Henriquez, co-founder, chairman and chief executive officer of Hercules.
"We believe the company is well positioned in an attractive market and
has a clearly defined strategy to return to profitability and growth.
Hercules is actively engaged in the streamlining of InfoLogix’s
operations, and we believe that this investment will provide Hercules
with long-term capital appreciation as InfoLogix expands their
proprietary intellectual property and grows their already sizable
presence within existing and new accounts across the healthcare
industry.”
On March 1st, InfoLogix launched their revolutionary new ST7 Mobile
Workstation product line. As part of the company’s integrated Healthcare
Mobility Solutions Suite, the InfoLogix ST7 Mobile Workstations are
designed as part of an end-to-end strategy for hospitals to attain
electronic medical record implementation and mobilization. The company
simultaneously introduced a new Lithium Iron Phosphate power system, the
InfoLogix ST7 LiFe Battery, which significantly increases the
performance of mobile computer workstations, including the ST7.
Developed with in-depth customer research and clinician feedback,
InfoLogix believes that the combination of these two innovations will
meet the needs of clinicians across diverse healthcare facilities,
eliminate gaps in care delivery, and improve efficiency at point-of-care.
"InfoLogix has the opportunity to enhance its product portfolio in the
healthcare mobility business with new, proprietary technology that is
highly differentiated from the competition, and we are pleased that our
partner, Hercules, stepped in to provide additional financial support
which enables us to accelerate our strategy,” said David Gulian,
president and chief executive officer of InfoLogix. "As the healthcare
industry increasingly focuses on cost control, an important way to
achieve this goal is through the implementation of electronic medical
records, and InfoLogix is well positioned to capitalize on this
opportunity. Today we are in 1,500 hospitals with our technology
solutions, EMR implementation strategy, and healthcare consulting
services. With strong financial backing, a 10-year track record of
success, and the ability to deliver complete solutions, we look forward
to serving the diverse and growing needs of our customer base, while
simultaneously increasing our margins.”
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty
finance company providing debt and equity growth capital to technology
and life science companies at all stages of development. Founded in
December 2003, the company primarily finances privately held companies
backed by leading venture capital and private equity firms. Hercules
invests in a broad range of ventures active in technology and life
science industries and offers a full suite of growth capital products at
all levels of the capital structure. The company is headquartered in
Palo Alto, Calif. and has additional offices in the Boston, Boulder and
Chicago areas. Providing capital to publicly-traded or privately-held
companies backed by leading venture capital and private equity firms
involves a high degree of credit risk and may result in potential losses
of capital. For more information, please visit www.htgc.com.
Companies interested in learning more about financing opportunities
should contact info@htgc.com, or call
650.289.3060.
About InfoLogix, Inc.
InfoLogix is a leading provider of enterprise mobility solutions for the
healthcare and commercial industries. InfoLogix uses the industry's most
advanced technologies to increase the efficiency, accuracy, and
transparency of complex business and clinical processes. With 19 issued
patents, InfoLogix provides mobile managed solutions, on-demand software
applications, mobile infrastructure products, and strategic consulting
services to over 2,000 clients in North America including Kraft Foods,
Merck and Company, General Electric, Kaiser Permanente, MultiCare Health
System and Stanford School of Medicine. InfoLogix is a publicly-traded
company (NASDAQ: IFLG). For more information visit www.infologix.com.
Forward-Looking Statements:
The statements contained in this release that are not purely historical
are forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to uncertainties and
other factors that could cause actual results to differ materially from
those expressed in the forward-looking statements including, without
limitation, the risks, uncertainties, including the uncertainties
surrounding the current market turbulence, and other factors we identify
from time to time in our filings with the Securities and Exchange
Commission. Although we believe that the assumptions on which these
forward-looking statements are reasonable, any of those assumptions
could prove to be inaccurate and, as a result, the forward-looking
statements based on those assumptions also could be incorrect. You
should not place undue reliance on these forward-looking statements. The
forward-looking statements contained in this release are made as of the
date hereof, and Hercules assumes no obligation to update the
forward-looking statements for subsequent events.
