Rocky Hill, Conn., June 24, 2008 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has made an investment of $244,800 in Premise Corporation of Farmington, Conn. Premise was recently recognized as being one of fastest growing privately held companies headquartered in Central Connecticut when it was awarded the Business Champion Award for 2008. CI’s investment, its second in the company, was part of a $2 million extension of the Series B round also involving Aetna Ventures LLC, Milestone Venture Partners LP, Inflection Point Ventures LP and other investors.
“Given the significant and growing demand for Premise’s solutions and services, this additional growth capital allows us to further accelerate our R&D initiatives, expand our professional services team and capitalize on the strong market momentum we continue to experience,” stated Premise chairman and CEO Eric Rosow. “We are very excited about the future and will continue to maintain our firm commitment to client relationships, innovation and service excellence.”
Premise Corporation is a healthcare information technology company that delivers innovative patient flow and business intelligence solutions to optimize patient flow, streamline bed management, increase hospital capacity, accelerate bed turnover, and leverage complex data on demand. The Premise solution is intuitive and clinically-focused and can transform manual, fragmented processes into fast, automated workflows.
Peter Longo, CI president and executive director, said, “Premise continues to successfully demonstrate its technology, expand its patent portfolio and add new customers. We are delighted to play a role in helping this innovative Connecticut company build on its momentum and offer solutions to an ever-expanding list of ‘blue chip’ healthcare providers.”
“We continue to support technology innovators and help them to grow Connecticut jobs,” said Governor M. Jodi Rell. “Premise is on an exciting growth track, and these funds will help the company to expand job opportunities in the state while introducing products and services that will enhance the well-being of our citizens.”
CI’s investment in Premise Corporation is its sixteenth investment this fiscal year.
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, nonprofit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. For more information on CI, please visit www.ctinnovations.com.
About Premise Corporation
Premise is a leading provider of integrated and clinically-focused software solutions that optimize patient flow, streamline communications, enhance operational efficiency, and empower knowledge-based decision making. Driven by the vision that optimized delivery of healthcare services can be realized through the widespread use and visualization of real-time operating data, Premise delivers the industry's most intuitive systems for bed management, bed turnover, transport, and decision support. In 2008, Premise's bed management and patient throughput solutions received the exclusive endorsement of the American Hospital Association (AHA). For more information, please call 800-396-5578 or visit www.PremiseUSA.com.
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