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Archive for June, 2011

MagneMotion, Inc. Raises $7 Million in Growth Capital

MagneMotion Inc., headquartered in Devens, MA, is pleased to announce that it recently issued a preferred equity interest in excess of $7 million to a shareholder group consisting of Delta International Holding, Massachusetts Capital Resource Company, as well as new and existing individual shareholders. The proceeds from the transaction are being used to fund the Company’s internal growth and accelerate its entrance into new vertical markets. Daybreak Capital Partners, LLC served as financial advisor.

“After years of research and development, our vision for Linear Synchronous Motor technology is now gaining traction, and we want to take advantage of our market opportunities,” stated Todd Webber, President and CEO of MagneMotion. “Our new product MagneMoverTM LITE, considered “game changing” technology by our customers, is beginning to take off and we need to ramp our production, open new distribution channels, and add more modules and functionality to meet our customer’s expectations,” added Webber. MagneMover LITE is an intelligent transport system for light payloads and ideally suited for assembly, process, and packaging applications in industries such as lab automation, medical device, food and beverage, fast moving consumer goods, sterile fill, cosmetics, pharmaceutical, and electronics.

MagneMotion, Inc. is a world leader in advanced, next generation propulsion and control technology providing fast, safe, clean, and efficient transport of goods and people to markets including industrial automation, material handling, defense, and transportation systems. The Company’s products and solutions all leverage its proprietary core expertise and patented technology in the fields of Linear Synchronous Motors (LSM) and Magnetic Levitation Technology (Maglev), as well as related aspects such as positioning, vehicle tracking, and systems control. In all instances, the Company’s products are utilized in “mission critical” aspects of its customer’s operations. (www.magnemotion.com).

Delta International Holding is a Delta Group company. A global leader in power management solutions, Delta Group is rated as the world’s largest provider of switching power supplies and DC brushless fans, and is a major source for components, visual displays, industrial automation, networking products, and renewable energy solutions. Delta Group has sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Mexico, India and Europe. As a global leader in power electronics, Delta’s mission is, “To provide innovative, clean and efficient energy solutions for a better tomorrow.” Delta is committed to environmental protection and has implemented green, lead-free production and waste management programs for many years. (www.deltaww.com).

Massachusetts Capital Resource Company (“MCRC”) is a Boston-based private investment fund which invests mezzanine debt and equity capital in established emerging growth and middle market companies. MCRC was founded in 1977 and takes a long-term investment perspective when committing its capital. The fund’s investments fill the financing gap between traditional senior debt and common equity and are typically utilized to fund strategic growth initiatives and strengthen balance sheets. (www.masscapital.com).

Daybreak Capital Partners (“Run by CEOs to Serve CEO’s”) is a specialty investment banking firm predominately serving companies in the middle and lower middle markets. (www.daybreakcapital.com).

MagneMotion, Inc. Raises $7 Million in Growth Capital
MagneMotion Inc., headquartered in Devens, MA, is pleased to announce that it recently issued a preferred equity interest in excess of $7 million to a shareholder group consisting of Delta International Holding, Massachusetts Capital Resource Company, as well as new and existing individual shareholders. »

June 2011 Newsletter

MAGNEMOTION, INC.

MCRC is pleased to announce a new investment in portfolio company MagneMotion, Inc.  Mass. Capital participated in a financing with Delta Electronics and individual investors.  Headquartered in Devens, MagneMotion provides Linear Synchronous Motors (LSM) and advanced transport solutions for high performance assembly, process, test and manufacturing automation.  MagneMotion’s LSM products are used to create faster, more efficient, and more reliable automation solutions than conventional systems.  The LSM technology is embodied in the Company’s QuickStick and MagneMover LITE product lines, which can accommodate a variety of acceleration, speed and payload requirements.  MagneMotion’s advanced LSM technology is a breakthrough and provides significant advantages in powering automation, manufacturing and logistics systems, as well as in a new class of shipboard elevators developed for the U.S. Navy.  In addition, MagneMotion is developing a new generation of Magnetic Levitation (Maglev) technology for urban transit applications under contract to the Federal Transit Administration.  Organizations ranging from the U.S. military and government agencies, to Fortune 100 companies and leading automation systems integrators have adopted MagneMotion’s technology.  Proceeds from this financing are being used to fund the Company’s anticipated growth and to accelerate its entrance into new vertical markets.

MCRC’s initial investment in MagneMotion was made in 2006.

For more information on MagneMotion, Inc., please visit www.magnemotion.com.

ABOUT MCRC

Massachusetts Capital Resource Company, a private investment company located in Boston, is a source of mezzanine financing for emerging growth and middle market companies.  The company was formed in 1977 by the Massachusetts-based life insurance industry to provide risk capital and long term debt to small and medium sized businesses based in Massachusetts.  For more information, please visit our website (www.masscapital.com) or contact us at 617-536-3900.

magnemotion

June 2011 Newsletter
MAGNEMOTION, INC. MCRC is pleased to announce a new investment in portfolio company MagneMotion, Inc.  Mass. Capital participated in a financing with Delta Electronics and individual investors.  Headquartered in Devens, MagneMotion provides Linear Synchronous Motors (LSM) and advanced transport solutions for high performance assembly, process, test and manufacturing automation.  MagneMotion’s LSM products are used to […] »

Dell Honored as a Top Ten Organization Achieving Greatest ROI

BOSTON (June 21, 2011) – HighRoads, an industry leader in employer health care compliance and benefits management, today announced that its client, Dell has received one of the 2011 Technology ROI Awards from Nucleus Research for its remarkable 347% return-on-investment (ROI) through the use of HighRoads’ Summary Plan Description (SPD) Solution. The service streamlined the development and management processes for Dell’s SPDs to assure compliance. SPDs are a federally required summary of plan benefits that must be distributed to employees and beneficiaries.

The Technology ROI Awards recognize end-user organizations whose deployments of specific IT solutions have achieved positive bottom-line financial and business results.  Nucleus Research carefully assessed the costs and business benefits of technology implementations for each nominated organization to quantify each project’s ROI over a three-year period. The awards honor the top ten IT implementations, showing tremendous value per dollar spent.

“Dell’s HighRoads deployment had a high ROI largely as a result of productivity improvements,” said David O’Connell, principal analyst at Nucleus Research. “Employees became more productive because all of their benefit-related information became more accessible and easily understood. Benefits administrators became more productive because they used HighRoads to automate both the creation and updating of SPDs.”

Before HighRoads, Dells SPDs were not available online and were written in legal jargon which drove many employees to solve problems by contacting a call center that was available only during the business day. Because SPDs are now available online, presented in a user-friendly fashion, and easily searched, employees no longer interrupt work to contact the call center.

“We are thrilled to see Dell among the top ten winners of the Nucleus Research 2011 ROI Awards,” said Michael Byers, CEO, HighRoads. “It’s easy for many organizations to get caught up in tedious, time consuming processes related to managing complex SPDs for multiple benefits plans. With HighRoads’ SPD services companies can dramatically reduce the time and resources required for SPD development and management. As demonstrated by Dell, this can achieve quick and significant return on investment while assuring both accuracy and compliance.”

An independent Nucleus Research case study outlining the Dell implementation and results of the HighRoads SPD service is available for download by visiting: http://www.highroads.com/clients/case-studies/dell.php. The complimentary case study offers insight into the process by which the ROI was calculated as well as the many benefits realized by Dell’s use of HighRoads’ SPD Services. More information on the Technology ROI Awards is available by visiting: www.roiawards.com.

About HighRoads
The world’s leading employers choose HighRoads to gain complete control over their health care costs and compliance.  With HighRoads’ service, employers have online access to benefits plan information and pricing, competitive benefits benchmarks, and complete benefits management.  The privately-held company is headquartered in Woburn, MA. For more information, visit www.HighRoads.com.

Dell Honored as a Top Ten Organization Achieving Greatest ROI
HighRoads, an industry leader in employer health care compliance and benefits management, today announced that its client, Dell has received one of the 2011 Technology ROI Awards from Nucleus Research for its remarkable 347% return-on-investment (ROI) through the use of HighRoads' Summary Plan Description (SPD) Solution. »

Curaspan Health Group Taps Tom MacDougall as First Chief Technology Officer

New Executive Role Added to Support Growing Demand for Curaspan Patient-Transition Solutions

NEWTON, Mass. — June 21, 2011 — Curaspan Health Group, the industry leader in building secure electronic patient-transition networks for hospitals, post-acute providers and suppliers, today announced that Tom MacDougall has joined the company as chief technology officer. An accomplished IT executive, MacDougall will lead the Curaspan product-management and engineering teams as the company continues to grow and expand its offerings.

Curaspan industry-leading software-as-a-service (SaaS) applications enable almost 400 hospitals and more than 3,200 post-acute providers across the United States to exchange relevant, timely data about patient needs as they move from one level of care to another. As chief technology officer, MacDougall assumes responsibility for diversifying the Curaspan product portfolio that includes eDischarge™ for discharge planning, ReferralCentral™ for referral management and RideCentral™ for non-emergent transport ordering and dispatch.

“Tom excels at leading cross-disciplinary teams to deliver market-leading solutions that deliver a superior client experience,” said Ken Manning, chief operating officer at Curaspan. “As we continue to expand our product and service offerings, we know Tom will have an immediate and significant positive impact on our growing business.”

MacDougall joins Curaspan from Ingenix, a global health-care IT company owned by UnitedHealthcare where he was vice president of product technology. He is an expert in the design and implementation of mission-critical IT solutions, as well as in developing and managing high-performing technical teams. He’s held technology leadership positions at Putnam Investments, WorldStreet Corporation, Fidelity Investments and New Balance Athletic Shoe.

“Curaspan has been an early leader in health-care IT innovation, and I am excited about building on the company vision for connected, high-quality patient care,” said MacDougall. “The unique capabilities that Curaspan has developed to synchronize patient management across the continuum of care are unrivaled. I’m delighted to be part of such a talented team.”

Curaspan HIPAA-compliant SaaS applications provide clinicians and case managers with actionable data to efficiently match patient needs with available resources. By streamlining patient transitions, Curaspan enables providers to improve care and by extension, the bottom line. In 2010, Curaspan customers dramatically reduced preventable readmissions and saved almost $260 million.

Curaspan works with many of the nation’s top hospitals and post-acute care providers, including Johns Hopkins Health System, NewYork-Presbyterian Hospital, Saint Thomas Health Services (part of Ascension Health), Riverside Health System, Sentara Healthcare, Indiana University Health Bloomington, Vanguard Health Systems, Apria Healthcare, American Medical Response, Gentiva Health Services, Golden LivingCenters, Life Care Centers of America and SunBridge Healthcare, among many others.

About Curaspan Health Group
Curaspan Health Group builds secure electronic patient-transition networks for hospitals, post-acute providers and suppliers to optimize patient care. Curaspan software-as-a-service (SaaS) applications empower users with real-time, predictive decision-making data that enables all participants to continuously monitor care, improve communication and ensure compliance. This informatics exchange is integrated with the proprietary Curaspan Provider Data Bank, the industry’s most comprehensive and up-to-date system of actionable patient-transition intelligence, and is complemented by the clinical process expertise of credentialed advisors. The Health Care Advisory Board and KLAS repeatedly have recognized Curaspan for its industry-leading software. Curaspan is headquartered in Newton, Mass. For more information please visit Curaspan.com, or tell us how to contact you.

Curaspan Health Group Taps Tom MacDougall as First Chief Technology Officer
Curaspan Health Group, the industry leader in building secure electronic patient-transition networks for hospitals, post-acute providers and suppliers, today announced that Tom MacDougall has joined the company as chief technology officer. »

El Paso Inc.: City rolls out solar-powered bins Downtown

El Paso, TX – The City of El Paso began installing 73 BigBelly solar-powered trash compactors in Downtown last week.

The bins have been placed in Downtown’s Golden Horseshoe District. They will replace nearly 40 percent of the 200 green rod-iron trash bins in the area, according to a press release.

The city expects to save money by cutting collection trips. That reduces fuel costs and allows the City’s Environmental Services Department to reallocate its staffing resources to other environmental programs, according to the city.

The trash bins are about the same size as the city’s green rod-iron trash bins but have about five times more capacity because they use solar power to compact trash. They also have an electronic notification system that transmits a message when they are full.

The city recently completed a two-week pilot program that showed the collection frequency using the solar powered trash compactors was reduced to twice a week, compared to 14 times a week for a conventional bin.

See the Article

El Paso Inc.: City rolls out solar-powered bins Downtown
The City of El Paso began installing 73 BigBelly solar-powered trash compactors in Downtown last week. »

Quadrant Software Welcomes New VP Channels & Strategic Relationships

Mansfield, MA – (June 1, 2011) – Quadrant Software, LLC the leader in Electronic Document Distribution solutions for the IBM i (iSeries) platform is pleased to announce the hiring of Bill Dowell as the company’s new Vice-President of Channels & Strategic Relationships.

After announcing its acquisition by Boston-based Candescent Partners effective November 13, 2010, Quadrant Software has been building a seasoned executive team dedicated to creating and refining customer driven,  solutions for the IBM i platform. Bill Dowell is the newest addition following the recent appointments of Steve Woodard – President and CEO and Tracy Cirillo – VP of Finance and Administration.

As Vice President of Channels & Strategic Relationships, Bill will oversee the planning and execution of a worldwide partner and channels strategy that is key to the company’s long term growth. Prior to joining Quadrant Software, Bill’s experience includes Senior level Sales,  Channel and Business Development roles at  Virtutech/Wind River, NetSilicon/Digi  and Citrix.

“Bill’s experience in positioning and driving high value solutions to Fortune 500 organizations is invaluable for a growing company. Implementing worldwide channels and strategic partnerships increases our reach, and is a key to Quadrant Software’s growth and market presence,” said Steve Woodard, President and CEO.

With over 20 years in business and 3,500 installations of its products worldwide, Quadrant Software is the developer of the popular FastFaxTM fax servers and FormtasticTM electronic forms software that run on and are integrated with many IBM Series i ERP applications.

For more information about Quadrant Software,LLC please contact us at (508) 594-2700, email sales@quadrantsoftware.com, or visit www.quadrantsoftware.com.

About Quadrant Software:

Quadrant Software, an IBM Business Partner, is the leading supplier of Electronic Document Distribution (EDD) solutions for the iSeries enterprise. Through EDD, companies electronically create and manage mission critical documents that are delivered via print, fax or email to reduce expenses, increase productivity and improve communication. Quadrant Software’s award-winning solutions are installed around the globe at some of the world’s largest companies in numerous vertical markets. For more information on Quadrant Software and its EDD solutions visit us online, www.quadrantsoftware.com or call 800-258-3399/508-594-2700 or email quadrant@quadrantsoftware.com .

Quadrant Software Welcomes New VP Channels & Strategic Relationships
Quadrant Software, LLC the leader in Electronic Document Distribution solutions for the IBM i (iSeries) platform is pleased to announce the hiring of Bill Dowell as the company's new Vice-President of Channels & Strategic Relationships. »

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